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Gold/Mining/Energy : Kodiak Exploration Ltd.

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From: Nikole Wollerstein	10/21/2007 10:35:54 PM
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from the Stockhouse: "I had a chance to talk with Brian Maher (VP of Exploration) before the presentation. This discovery is very unique in the size of the surface expression. It is very typical to Red Lake and others in terms of high grade within the veins which they are seeing very consistent results in but is very unusual in terms of the wide width and length of the structures. I asked whether the current stock price was justified - without any hesitation the answer was yes. I expected that answer but I could very clearly read that he meant it. Highlights from the presentation: The nr is in the hands of the TSX. They expect the stock to start trading Monday. Majors have been asking questions, they are very interested. One key point in this regard is that KXL has managed to consolidate a very large land position. The discovery of the golden mile has completely changed their focus. This structure is outstanding. The golden mile strike length I think was 2k (I have a lot of audio to listen to check these statements) and the structure has been exposed to the edge of a swamp at one end and a lake on the other end. Well they have found mineralization in float on the other side of the lake and on trend with the golden mile so it looks like it continues. They have to wait for winter to extend the other end through the swamp. They plan to drill 40k to 60k meters in 2008 with the three drills. They are currently designing the next drill program based on what they have learned from the shallow hole assays. Brian would love to drill a 1000 meter hole right now but they must take the steps in the correct order to build the picture of the orientation. The Golden mile is a parallel structure with 1 km of distance from the nearest parallel structure (forget what it was called). I think he said they have found seven or nine more veins between to the golden mile and the others. They are excited about finding more golden mile stuctures as they prospect in the direction beyond the golden mile and they have lots of land in that direction. The theme here is that they have just scratched the surface literally. To jump ahead channel sampling is done at regular intervals they do not just sample where it looks good. They are sampling in equal measured distances and are coming up with just exceptional grades over wide distances on the golden mile. They are working on a map to put on the web site to show the channels and drill holes. These are very early days but one certainly gets the message that this is a uniquely large system with very high grades similar to the other large good camps within the Abitibi Greenstone belt. Historically only 15 million dollars has been spent in exploration of the Beardmore-Geraldton Gold Camp so the area is very underexplored even the mines in the

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