TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

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Message: Re: Kodiak will be attending the World Resource Investment Conference in Vancouv

Thanks everyone for the well wishes, much appreciated. Getting slowly on my feet - I refuse to credit it to ripple alone.

Some other items I jotted down:

Sprott still a major institutional investor, and KXL is in very regular contact with them. As many know, Sprott has a fantastic record in investing in this kind of company.

GM drilling and tech work aimed at determining viability of GM as a mine development project. Bulk sampling may make some cash (which is always good) and feeds a positive market perception.

M&A activity looks to add new projects in a way that is synergistic with existing Geraldton-Beardmore properties - looking for good bargains that "fit".

The larger of the newly discovered veins is south of Lucky Strike, and runs in an East-West direction (most here run NW-SE). A number of veins parallel to GM also discovered. Around Golden Pond and heading to SGX, the gold mineralized interceptions turn into a sort of skein of veins rather than one single narrow vein.

SE drilling at Golden Mile, with new higher-grade showings, runs through the gabbro which was previously assumed to be inert but which is now discovered to be gold mineralized e.g. 19g*m/t.

Drilling having been completed in some instances to 1000m depth, is likely to include some new holes at even greater depth. Periodicity and structure of GM system (per slide) suggests possible locations for this, and grades in SE section surprised with higher grades at depth than expected, open on dip, so SE structures are as likely as the center of the GM.

and ... the rest of my notes I can't read. I suppose if I wait til the next time I catch a severe flu I will be able to read them ...

One question that didn't get posed, at least not before I left in a fog, was what is expected to happen with uranium exploration at West Millenium for this Summer and Fall.

With gold, we would all prefer an instant answer. I don't see that coming, but it does promise to be an exciting season. We've had to wait through a long, cruel winter for the resumption of real activity. Bob and Brian are pretty clear about wanting to move us to a higher level, not least motivated by their own stock holdings. My best to all / cedar



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