The Whistler Project An Emerging Gold District The Whistler Project ...

_______________Caution on Forward Looking StatementsThis presentation contains forward-looking statements. All statements, other than statements of historical fact, thataddress activities, events or developments that the Company believes, expects or anticipates will or may occur in thefuture (including, without limitation, statements regarding exploration results, potential mineralization, future plansand objectives of the Company and mineral resources) are forward-looking statements. These forward-lookingstatements reflect the current expectations or beliefs of the Company based on information currently available to theCompany. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actualresults of the Company to differ materially from those discussed in the forward-looking statements, and even if suchactual results are realized or substantially realized, there can be no assurance that they will have the expectedconsequences to, or effects on the Company. Factors that could cause actual results or events to differ materiallyfrom current expectations include, among other things, uncertainties relating to the availability and costs of financingneeded in the future, changes in commodity prices, changes in equity markets, changes to regulations affecting theCompany's activities, the uncertainties involved in interpreting exploration results and other geological data and theother risks involved in the mineral exploration industry. Any forward-looking statement speaks only as of the date onwhich it is made and, except as may be required by applicable securities laws, the Company disclaims any intent orobligation to update any forward-looking statement, whether as a result of new information, future events or resultsor otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of future performance and accordingly undue relianceshould not be put on such statements due to the inherent uncertainty therein.2

Kiska Metals Corp. OverviewBackgroundTrading SymbolKiska resulted from the consolidation of Geoinformatics (GXL:TSX-V) & Rimfire (RFM:TSX-V)KSK: TSX-VShares OS 56.6MShares FD 65.4MMajor Shareholders42% - Geologic Resource Partners5% - Management/Insiders (RFM)4% - Rule Family Trust3% - Global Strategic Management1% - Sun Valley GoldBoard of DirectorsDavid Caulfield (Co-Chairman)John Kanellitsas (Co-Chairman)Rosie MooreBipin GhelaniMark SelbyBill SchurJason WeberManagementJason Weber, President & CEODorothy Miller, CFODavid Caulfield, Dir. of Business Dev.Mark Baknes, VP Exploration3

Investment Highlights‣ Whistler Au-Cu deposit (100% owned): Au rich porphyry (65% of metal value is gold). NI43-101 Resource of 5.75M oz Au eq.* Superior exploration upside. Q3-Q4/09 drill program underway.‣ Consolidated portfolio of Au (±Cu) projects in Alaska,BC, Nevada, Mexico and Australia – all areas ofmanagement expertise.‣ Foundation of leveraging exploration via strategicpartnerships.‣ Attractive valuation.* See slide 12 for detailed resource.4

Alaska – Land of Giants‣ Kiska - the largestjunior claimholder inAlaska.‣ Prolific gold district(> 200 M oz. Au).‣ Proud miningheritage.Donlin Creek39.32M oz AuLivengood7.59M oz AuWhistler5.75M oz Au eq.Fort Knox5.54M oz AuAnchoragePogo9.51M oz AuPebble113.4M oz Au eq.5

Whistler – Property History‣ 1986-1989: Cominco discovered Whistler Zone andIsland Mountain targets; 16 short holes at Whistler Zone.‣ 2002-2006: Kennecott (KEX/Rio Tinto) optionedproperty; completed mapping, sampling, geophysics anddrilled 15 holes at Whistler Zone and 20 on other targets.‣ 2007-2008: Geoinformatics acquired property viaalliance with Kennecott. Drilled 12 holes at WhistlerZone and 5 holes on peripheral targets.‣ 2008: Geoinformatics calculated first mineral resourceon Whistler Zone.6

Whistler – Clarification of Ownership - June 2009‣ KEX retains one-time Back-In-Right upon completion of‘trigger’ exploration program (est. mid-2010). Trigger Program: 341 line km of IP and 7000m of drilling.‣ IF KEX backs in – must repay double GXL/Kiska’sproject expenditures (est. US$20M) and fund throughpre-feasibility to earn 51% interest. KEX has option to increase to 60% interest by advancing todevelopment decision.‣ IF KEX doesn’t back in – retains 2% NSR.7

Alaska – Land of Giants‣ Kiska - the largestjunior claimholder inAlaska.‣ Prolific gold district(> 200 M oz. Au).‣ Proud miningheritage.Donlin Creek39.32M oz AuLivengood7.59M oz AuWhistler5.75M oz Au eq.Fort Knox5.54M oz AuAnchoragePogo9.51M oz AuPebble113.4M oz Au eq.8

Whistler Project Location and InfrastructureLocation‣ 150 km NW of Anchorage.‣ 440km 2 State of Alaska MiningClaims.‣ 80 person camp.Infrastructure‣ Multiple infrastructure options.‣ Power station at Tyonek.‣ Proposed power stations:ChackachamnaMt SpurrSource: Company reports.9

Whistler – Current NI43-101 Resource‣ Prepared by SRK Consulting (Canada) Inc.‣ Based on 38 drill holes across only the Whistler Zone.‣ Au eq. calculation based on US$550/oz Au, US$8/oz Ag, US$1.50/lb Cu.‣ 0.30g/t Au eq. cutoff, 1.1g/t Au eq. cutoff (underground).‣ High grade deposit core (>0.9g/t Au eq. cutoff): 75Mt @ 1.1g/t Au +0.25% Cu (1.6g/t Au eq. for 3.85Moz Au eq.).‣ Preliminary met. shows amenable to marketable concentrate production.Tonnes & GradeContained Metal (M)Resource CategoryTonnes(Mt)Au(g/t)Ag(g/t)Cu(%)Au eq.(g/t)Au(Moz)Ag(Moz)Cu(Mlbs)Au eq.(Moz)Indicated (open-pit) 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31Total Indicated 30 0.87 2.46 0.24 1.35 0.84 2.37 159 1.31Inferred (open-pit) 123 0.59 2.07 0.19 0.98 2.33 8.19 515 3.86Inferred (underground) 11 1.16 3.55 0.24 1.66 0.41 1.26 58 0.59Total Inferred 134 0.64 2.18 0.20 1.05 2.74 9.44 573 4.44Source: Mineral Resource Estimation Whistler Copper-Gold Project, Alaska Range, Alaska. February 15, 2008. Report Prepared by SRK Consulting (Canada) Inc. Filed on SEDAR.10

Whistler Zone Deposit Upside‣ Current resource model defined within 35° pit shell.Using a 45° pit shell would add 60 to 100Mt mineralized material. Open along strike and at depth e.g., 2008 drilling included 82m @2.01g/t Au, 0.39% Cu (2.76g/t Au Eq.), which is within the shell but notyet included in the resource estimation.‣ Discovery costs to date of US$4 per Au eq. oz.Whistler Zone5.75 Moz Au Eq.Raintree West160m @ 1.26g/t Au Eq.Source: Company reports.11

Whistler Project – Exploration Upside‣ 50 untested targets.‣ 2008 discoveries inproximity to Whistler: Raintree West Rainmaker‣ 80% of regionalholes haveintersected at leastsome mineralization.‣ Untested systems: Muddy Creek Island MountainWhistler Zone(5.75M oz Au eq.)Muddy CreekRaintree West/RainmakerIsland Mountain12

Looking NorthSnow RidgePuntillaRound MountainRainmakerWhistlerRaintree WLong Lake Hills5.75 M oz gold eq.160m @ 0.59g/tgold, 0.1% Copper,6.02g/t silver167m @ 0.47g/t Au,0.17% Cu.Portage CkALGER PEAK LOOK-OUT OF WHISTLER AREA PROSPECTS

Whistler Exploration Upside – Raintree WestWhistler Zonedeposit outlinePhyllicalterationRaintree discovery hole160m @ 0.59g/t Au 0.1% Cu, 6.02g/tAg inc. 24m @ 1.37g/t AuPhyllicalteration20m @ 0.38 g/t Au& 0.15% Cu176m @ 152 ppb Au &619 ppm CuPhyllicalterationRoom for anotherWhistler Deposit!PhyllicalterationContact breccia withAnomalous silver up >60g/t AgRainmaker with 167m @ 0.47g/t Au,0.17% Cu.‣ Raintree discovery – nearest holes (altered & mineralized)~1,500m from Whistler.14

Whistler Project – Exploration Upside‣ 50 untested targets‣ 2008 discoveries inproximity to Whistler: Raintree West Rainmaker‣ 80% of regionalholes haveintersected at leastsome mineralization.‣ Untested systems: Muddy Creek Island MountainWhistler Zone(5.75M oz Au eq.)Muddy CreekRaintree West/RainmakerIsland Mountain15

Whistler Exploration Upside – Island Mountain‣ Rock samples over2km x 1km averaged0.61g/t Au.‣ Included rock samplesup to 4.86g/t Au,2.5% Cu, 58g/t Ag &0.1% Mo.‣ Untested.‣ 6 Individual targets.Striking color anomaly – gossanousmonzonite outcrop of the Island Mountainarea.Whistler Zone(5.75M oz Au Eq.)Island MountainChackchamna Access Route16

2009 Exploration Program341 Line Km of IP‣ Whistler Orbit - 3D IPfrom south of theSkwentna to north ofRound Mtn. One of thelargest IP surveysconducted in Alaska.‣ 2D IP at Muddy Creek,Island Mtn and Alger.PuntillaSnow RidgeRound MountainLong Lake HillsGeological Fieldwork• Grid mapping• In-fill geochemistry• Expert overviewWhistler OrbitAlger PeakDrilling of min. 20 holes• 200m depth minimum• 7000m total.Muddy CreekTechnical Committee2 x Kiska reps2x KEX reps – DonaldHinks and RussFranklinIsland Mountain5 km

Whistler Summary & News Flow‣ Whistler: Conservative resource estimate with significant upside. Good access and multiple infrastructure options due to proximityto Anchorage. 50 targets yet to be fully tested.‣ Milestones Year-end 2009• Q3/09: 340 line km of IP and initial drilling.• Q4/09: Data compilation and Phase II drill targeting. Early/mid 2010• Q1-Q2/10: Complete drill program to trigger Kennecott decision.18

_______________Kiska Consolidated Property PortfolioGeoinformaticsRimfireGeoinformatics/RimfireSource: Company reports.Victorian Gold Field,VICWhistlerGold, AkBarmedan, , NSWLachlan Fold Belt, NSWClancy/Lachlan FoldBelt, NSWGillis, BCGrizzly, BCJake, BCQuesnelTrough, BCRDN, BCTide, BCThorn, BCWilliams Gold,BCFalcon/Redton, , BC19Goodpaster,AKUncle Sam,AKBoulevard, YTWerneckeBreccias, YTSua.Grande, MxEl Tecolote, MxAzure JV, MxLa Noria, , MXPoncho, NVColorback, , NV

Strategic Exploration PortfolioProperty Name Ownership Type StatusMexicoLa Noria 100% Polymetallic Cu-Ag-Mo-Au brecciapipes-5 mineralized Cu-Mo-Ag pipes discovered.Sonora Portfolio100% and 40% (on JVproperties with Azure)Epithermal Au-Ag-Commanding regional portfolio with high grade Ag, Ag-Au and Cu discoveries.USAColorback 100% Cortez/Carlin Style Au -10km 2 region of anomalism.-Estimate 450m to Lower sequence and “Cortez style” target.Goodpaster, Alaska100% (Rubicon earning51%) and Uncle Sam100%Au-760km 2 land position. Pogo look-a-like. Completed geophysics, mapping,sampling, drilling.CanadaQuesnel Trough, BC100% (Xstrata earning51%)Porphyry Cu-Au-Excellent infrastructure. 345km 2 land position. Completed geophysics,mapping, sampling. 2009 exploration program will include IP, mapping andsampling.Redton, BC85% (15% RedtonResources Inc)Various (Cu-Au-Ag; Mo-Ag; Au; Cu-Au)-Large molybdenum discovery.-Several Cu-Au targets.- 0.2Mt @ 13.71g/t Au (88Koz Au) Indicated Resource (historic)-Adjacent to Serengeti’s Kwanika ProjectThorn, BC 100% High Sulphidation Au-Ag+-Cu -Completed geophysics, mapping, sampling, drilling and defined >20 showings.AustraliaClancy ExplorationLtd44.6% of company Porphyry Cu-Au -Exploration company focused on the Lachlan Fold Belt with 3,000km 2 .-Completed geophysics, mapping, sampling and initial drilling. Two newporphyry discoveries (Myall and Wellington North) and JV with Gold Fields.Barmedman, NSW100% (Inmet earning60%)High Sulphidation & Porphyry Cu-Au-Excellent power and transport infrastructure.-Will complete 1,200m drill program focused on a high priority IP target in 2009.Victoria Goldfields,VICSource: Company reports.Rimfire earning 50% fromNorthgateAu-Large ground position around Northgate’s Stawell Gold Mine.20

Kiska Metals: Undervalued Resource Play plusExploration Leverage21

Peer Group Analysis – Resource Comparison‣ The Whistler deposit is significantly undervalued relative toits peer group.CompanyProject LocationSymbolSharePriceFD MarketCap ($MM)Ent.Value($MM)Measured&IndicatedAu oz (MM)InferredAu oz(MM)TotalAu oz(MM)TotalAu Eq.oz(MM)ApproximateAu Grades(g/t)ApproximateAu Eq.Grades (g/t)Market Cap /Reserves &Resources($/Au oz)Ent. Value /Reserves &Resources($/Au oz)Market Cap /Reserves &Resources($/Au Eq. oz)Ent. Value /Reserves &Resources($/Au Eq.oz)Andina Minerals Inc.ChileTSXV:ADM$1.48$152$1226.63.39.99.90.85-0.900.85-0.90$15.39$12.30$15.39$12.30Brazauro Resources Corp.BrazilTSXV:BZO$0.62$64$571.80.32.12.11.10-1.301.10-1.30$29.87$26.46$29.87$26.46Detour Gold Corp.OntarioTSX:DGC$10.45$559$47910.82.513.213.21.19-1.681.19-1.68$42.32$36.24$42.32$36.24Exeter Resources CorporationChile, ArgentinaTSXV:XRC$3.32$240$2020.99.110.016.50.60-1.400.52-1.40$24.00$20.19$14.55$12.24Greystar Resources Ltd.ColombiaTSX:GSL$3.94$245$20611.53.515.016.30.81-1.331.18-1.28$16.33$13.69$15.06$12.62Guyana Goldfields Inc.GuyanaTSX:GUY$4.45$327$2953.71.75.45.42.80-3.902.80-3.90$60.51$54.55$60.51$54.55International Tower Hill Mines Ltd.AlaskaTSXV:ITH$3.36$207$2014.03.67.67.60.74-0.830.74-0.83$27.32$26.43$27.32$26.43Northern Dynasty Minerals Ltd.AlaskaTSX:NDM$7.34$679$63420.88.028.8133.70.42-0.431.51-1.56$23.62$22.06$5.08$4.74Rainy River Resources Ltd.OntarioTSXV:RR$2.25$135$1082.21.84.04.21.03-1.261.00-1.22$33.40$26.82$32.40$26.02Average$30.31$26.53$26.94$23.51Average (Excl. High/Low)$28.12$24.56$25.27$21.76Kiska Metals CorporationAlaskaTSXV:KSK$0.60$30$240.82.73.65.80.64-0.871.05-1.35$8.28$6.80$5.16$4.24As of 8/28/200922Source: Company Filings, Bloomberg

Peer Group Analysis – Enterprise Value/Au oz eq.‣ Immediate upside for potential re-rating.‣ Superior exploration upside on next phase.Enterprise Value / Oz Au Eq.$60.00$54.55$50.00$40.00$30.00$20.00$10.00$36.24$26.46 $26.43 $26.02$12.24$12.62Average = $21.58$12.30$4.74 $4.24$0.00Guyana GoldfieldsDetour GoldBrazauro ResourcesInternational Tower HillMinesRainy River ResourcesExeter ResourcesGreystar ResourcesAndina MineralsNorthern Dynasty MineralsKiska Metals23

Mission Statement‣ Create “best in class” explorer: Experienced technical management team with track record ofbuilding long term relationships with major mining companies. Extensive property portfolio in politically safe and mining friendlyjurisdictions.‣ Streamlined overhead combined with flexible growthmodel: Selective advancement of 100% owned priority projects. Exploration leverage via strategic partnerships. Opportunistic consolidation focused on regions with ‘in-house’geological expertise.‣ Build shareholder value by imprinting entrepreneurialvision with conservative capital preservation.24

Investment Highlights‣ Whistler Au-Cu deposit (100% owned) Au rich porphyry (65% of metal value is gold). NI43-101 Resource of 5.75M oz Au eq.* Superior exploration upside. Q3-Q4/09 drill program underway.‣ Consolidated portfolio of Au (±Cu) projects in Alaska,BC, Nevada, Mexico and Australia – all areas ofmanagement expertise.‣ Foundation of leveraging exploration via strategicpartnerships.‣ Attractive valuation.* See slide 12 for detailed resource.25

For Further InformationKiska Metals CorporationMr. Jason Weber, President & CEO, Tel: (604) 669-6660 ext 237Mr. Patrick Moodie, Manager, Corporate Communications, Tel: (604) 669-6660 ext 236Email: info@kiskametals.comKiska Metals CorporationSuite 1350 – 650 West Georgia Street, Vancouver, British Columbia, V6B 4N9www.kiskametals.com26