Kestrel Gold Inc. Retains Macam Investor Relations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Kestrel Gold Inc.("Kestrel" or the "Corporation") (TSX VENTURE:KGC) is pleased to advise that it has entered into a consulting agreement with Macam Ltd. ("Macam IR") to provide investor relation services on behalf of the Corporation, subject to regulatory and TSX Venture Exchange ("TSXV") approval. Macam IR will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of Kestrel and its activities. The services of Macam will not include market making activities.

The initial term of the agreement between Kestrel and Macam IR is for a one year period subject to renewal or earlier termination by either party pursuant to the terms of the consulting agreement. Macam IR will receive a monthly average fee of $7,032. In addition, subject to regulatory and TSXV approval, Macam IR will be granted 650,000 options at an average exercise price of $0.4125. The stock options will fully vest over the next 12 months and will expire two years from the date of issuance.

Macam IR is a full and comprehensive provider of investor relations services based in Calgary, Alberta. Neither Macam IR, nor any of its employees holds an interest, directly or indirectly, in Kestrel, nor any right or intent to acquire such an interest.

About Kestrel Gold Inc.

Kestrel is a gold exploration company headquartered in Canada. Its two principal projects are the King Solomon Dome property in Canada's Yukon Territory and the Huachi property in Argentina. Kestrel (KGC) is listed on the TSXV.

Cautionary Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to regulatory and TSXV approvals for the engagement of Macam IR. Readers are cautioned to not place undue reliance on forward-looking statements. Forward-looking statements are based on certain key assumptions made by the Corporation, including assumptions relating to the satisfaction of the terms and conditions relating to obtaining regulatory body approval. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the failure of the Corporation to obtain the required approvals or clearances from regulatory authorities. The forward-looking statements in this press release are made as of the date of this release and the Corporation undertakes no obligation to update publicly or revise any forward looking statements whether as a result of new information or otherwise, except as required by applicable securities laws. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation or its financial or operating results or (as applicable) their securities.