----------------------------
06-11 91.0 133.0 42.0 0.31
153.7 167.0 9.4 0.85
257.0 306.9 39.6 0.69
299.4 306.9 7.5 1.29
06-12 219.0 243.0 24.0 0.81
278.0 292.0 14.0 1.00
343.0 355.0 12.0 0.44
385.0 397.1 12.1 0.85
457.0 466.7 9.7 0.67
519.0 582.0 63.0 1.40
06-13 102.3 175.0 72.7 1.19
179.0 228.0 49.0 1.13
243.0 260.0 17.0 1.00
06-14 113.6 167.0 53.4 2.43
172.0 250.0 78.0 0.92
309.5 318.0 8.5 1.23
06-15 127.0 133.0 6.0 0.84
146.0 260.0 114.0 1.84
289.0 301.0 12.0 0.35
308.0 314.0 6.0 2.55
322.0 340.0 18.0 0.45
354.0 362.0 7.0 1.34
365.0 378.0 13.0 0.35


-****-


These drill results confirm the presence of widespread low grade gold mineralization at Magino, consistent with Kodiak's earlier modeling of Magino as a potential open-pit minable gold deposit. The drill holes reported here were all angle holes, therefore the depth below surface for these intercepts is 71% to 86% of the down hole distance, within the range of a potential open-pit mining operation. Data from these drill holes as well as all drilling completed between 2006 and 2010 by Golden Goose (21,897 metres) will be utilized in an updated resources estimate and Preliminary Economic Assessment for the project. Given the thickness and grade of these important intercepts, Kodiak expects the drill hole data to have a significant positive impact on the volume and grade of the updated resource estimate.


Assays are pending for drill holes 06-01 through 06-10; the data will be released when all QA/QC procedures have been completed and the data is properly interpreted.


The geological information for the Magino project has been reviewed and approved by Quentin J. Browne, Kodiak's Magino Project Manager, who is a qualified person under the definitions established by National Instrument 43-101. Kodiak QA/QC procedures are as follows: Kodiak channel samples are 5 cm wide cut perpendicular to the strike of the vein and/or shear zone from mapped alteration in the footwall continuously through the vein and/or shear zone and into mapped alteration in the hanging wall. Channels are cut with a motorized circular saw to a depth of 10 cm and removed with a hammer. Channel sample spacing is nominally every 20m along strike, dependent on outcrop size and geometry. Sample intervals are selected according to geologic contacts and visible mineralization, placed into a sample bag, and shipped to the assay lab for quantitative analysis of select elements. Kodiak drill cores are split down the center with a typical table feed circular rock saw or are split with a hydraulic slitting device. Sample intervals are selected according to geologic contacts, visible mineralization, and alteration, placed into sample bags and shipped to the assay lab where they are quantitatively analyzed for select elements. Drill cores are boxed, covered, and sealed at the drill rig and moved to the Kodiak logging and sample preparation facilities by Kodiak personnel. Kodiak angle core holes are directed perpendicular to the mapped dip of the vein therefore reported drill hole intercepts approximate true thickness of the vein. All Kodiak samples are currently being assayed by Chemex ALS, 2090 Riverside Dr.,Timmins, ON P4R 0A2. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. Samples are routinely sent to other labs for additional checks.


On behalf of the Board of Directors


Brian J. Maher