I wonder how many of the original subscribers to 'the big' PP in October 2007 still remain?... Don't get me wrong I am all about the potential here and I know they can't 'invent' stellar cores at will BUT I really thought there would be more of an attempt here to keep some strength in the stock price... to keep the momentum going... at least somewhat... I never thought we would see 6 months between GM news releases (i.e. April 20th was last GM NR FYI)... with all the money in the bank... all the drilling that has been done... 2007 Discovery of the Year... yet here we are near three-year lows... I thought the institutional and insider support here alone would keep share price in the same ball-park as last PP... way off base there...

But... I also do think though that it would not take much buying here to turn things around very quickly should the right news hit the wire. That's what I am hoping for.

red911

KODIAK “BOUGHT DEAL” FINANCING INCREASED TO $55,000,000
Vancouver, British Columbia, November 7th 2007 - Kodiak Exploration Ltd. (the "Company")

(TSX Venture:KXL, Frankfurt:KX3) has agreed with the underwriting syndicate led by National Bank Financial Inc. and Cormark Securities Inc. to increase the size of the overallotment option on the private placement “bought deal” financing announced yesterday by up to 789,474 common shares and 416,667 flow-through common shares, resulting in an option to purchase up to 3,421,053 common shares at a price of $3.80 per share and 416,667 flow-through common shares at a price of $4.80 per share. The exercise of the option in full would result in gross proceeds of approximately $55 million.

Closing of the offering is scheduled for November 27, 2007. The private placement is subject to acceptance by the TSX Venture Exchange. All securities issued will be subject to a mandatory four-month hold period from the date of closing.

As announced yesterday, the Company will use the proceeds of the offering for the ongoing exploration of the Company’s Hercules Gold Project in northwestern Ontario, land acquisitions and general corporate purposes.

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 gold, base metals (nickel/copper), 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.

On behalf of the Board of Directors
KODIAK EXPLORATION LIMITED
William S. Chornobay, Director, President
For further information contact:
(604) 688-9006 or by email at info@kodiakexp.com