KAI Kenai Resources Ltd.

Kenai Resources Ltd. (TSX VENTURE:KAI) ("Kenai") is pleased to announce the
closing of its previously announced transaction with Serabi Gold plc ("Serabi");
whereby Serabi has acquired all of the outstanding common shares of Kenai. The
transaction was completed pursuant to a plan of arrangement (the "Arrangement")
in accordance with the Business Corporations Act (British Columbia), which was
approved by the British Columbia Supreme Court on July 10, 2013. Shareholders of
Kenai approved the Arrangement on July 5, 2013. All conditions of closing have
now been satisfied by both parties.


Pursuant to the Arrangement, the former shareholders of Kenai will receive, for
each Kenai common share held, 0.85 of a Serabi ordinary share (the "Exchange
Ratio"). All of the outstanding options of Kenai are exchanged for options to
purchase ordinary shares of Serabi and are exercisable to acquire that number of
ordinary shares of Serabi and at an exercise price determined by reference to
the Exchange Ratio.


With the completion of the Arrangement, Kenai's common shares have now been
halted from trading on the TSX Venture Exchange and are expected to be delisted
from the TSX Venture Exchange shortly. Kenai will also apply to cease to be a
reporting issuer under the securities laws of British Columbia and Alberta.


For shareholders who held their Kenai shares through a broker, the issuance of
Serabi ordinary shares in exchange for Kenai common shares will be processed
through their broker. Registered shareholders of Kenai must deposit their Kenai
common share certificates with Computershare Investor Services Inc., as
depository, with a validly completed letter of transmittal, in order to receive
their Serabi ordinary shares. A letter of transmittal was mailed to registered
shareholders in early June 2013. Details of the required process are set forth
in Kenai's management information circular dated June 5, 2013, a copy of which
is available under Kenai's profile at www.sedar.com.


Any questions regarding the exchange of Kenai common shares for Serabi ordinary
shares, including any request for another letter of transmittal, should be
directed to your broker, if applicable, or the depositary, Computershare
Investor Services Inc., via telephone at 1 (800) 564-6253. Details of the
Arrangement are contained in Kenai's management information circular filed at
www.sedar.com on June 11, 2013.


On behalf of the Board of Directors.

Greg Starr, President and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Kenai Resources Ltd.
604-669-5753
604-688-9895 (FAX)
info@kenairesources.com

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