look for 4 cents friday, page-4

http://infoventure.tsx.com/

Kenai (KAI) cashed up to buy out GOA at Crater Mountain.

VANCOUVER, BRITISH COLUMBIA, Jan. 17, 2011 (Marketwire) --

Kenai Resources Ltd. (TSX VENTURE:KAI) ("Kenai") announces that it has negotiated, subject to the acceptance of the TSX Venture Exchange, a non-brokered private placement totalling up to $5,000,000. These funds will be raised by Kenai issuing up to 20,000,000 units at a price of $0.25 per unit, each unit consisting of one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder, on exercise, to purchase one common share at a price of $0.35 for a period of two years from the date of issue.

Finder's fees may be payable on a portion of the private placement, in accordance with the policies of the TSX Venture Exchange.

A substantial portion of the net proceeds of the private placement will be used to fund Kenai's acquisition costs and initial exploration and development commitments under its option to purchase up to a 100% interest in the Sao Chico gold project located in Northern Brazil. The balance of the funds will be used for working capital purposes.