"I wouldn't say we are out there looking for it, but I wouldn't rule it out," Baalke said.
Kaepernick is attending a voluntary minicamp this week in Santa Clara, California, but he still isn't throwing. He is recovering from shoulder, thumb and knee surgeries.
Baalke also said "there's been no talk internally" about Philadelphia Eagles quarterback Sam Bradford. Tom Condon, Bradford's agent, has confirmed his client wants to be traded. Bradford's former coach with the Eagles -- Chip Kelly -- is the 49ers' new coach.
The 49ers hold the seventh pick in the first round of this week's NFL draft, but two sources tell Holtzman that it's unlikely the team will use its first pick to take a quarterback.