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Message: Re: Question....

Jan 08, 2009 03:06AM

Jan 08, 2009 03:46AM

Re: Question....

in response to by
posted on Jan 08, 2009 04:12PM

ronz:

I have followed Kodiak for over 2 1/2 years and the only options I can recall are 3,400,000 explained below (of course these were granted 2 weeks before they revealed "5 km of Gold-bearing structures" - but I'm not bitter - and I am still invested).

Regards

Kohai

Options Granted

Vancouver, British Columbia, September 20th, 2007 –

Kodiak Exploration Limited (the

“Company”) (TSXV: KXL) has granted options to directors and geological consultants of the

Company to purchase up to an aggregate of 3,400,000 shares of the Company. The options

vested as to 25% on granting and will vest as to an additional 12.5% each three months

thereafter, so that all options will be fully vested at the end of eighteen months. The options are

exercisable at the price of $0.55 per share from and after the times at which they vest until

September 20, 2012, subject to any earlier termination in accordance with their terms.

Kodiak is a mineral exploration company with significant projects in three different sectors of

the mining resource industry. Through regional, grass-roots generative exploration and new

geological models the Company has built a portfolio of 100% controlled projects focused on

base metals (nickel/copper), gold and uranium in three different areas of Canada. Maps,

photographs, detailed geologic reports and additional information may be viewed on our web site

at

www.kodiakexp.com

.

-30-

On behalf of the Board of Directors

KODIAK EXPLORATION LIMITED

William S. Chornobay, Director, President

For further information contact

:

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