Kodiak Exploration Limited

Kodiak Exploration Limited


December 13, 2010 13:20 ET

Golden Goose Shareholders Approve Plan of Arrangement With Kodiak

VANCOUVER, BRITISH COLUMBIA and MONTREAL, QUEBEC--(Marketwire - Dec. 13, 2010) - Kodiak Exploration Limited (TSX VENTURE:KXL)(FRANKFURT:KX3) ("Kodiak") and Golden Goose Resources Inc. (TSX VENTURE:GGR) ("Golden Goose") report that the shareholders of Golden Goose have overwhelmingly approved the proposed plan of arrangement with Kodiak. Shareholders of Golden Goose demonstrated strong support for the arrangement with 99.85% of vote cast voting in favor of the arrangement. Furthermore, Golden Goose is pleased to announce that it has satisfied a condition of the previously announced Arrangement Agreement with Kodiak dated August 30, 2010 that the registration of Golden Goose's common shares under Section 12(g) of the U.S. Securities Exchange Act of 1934 be terminated. The closing of the arrangement is expected shortly after the final order is rendered by the court.

Brian Maher, Chief Executive Officer ("CEO") and President of Kodiak, said, "We thank the shareholders of Golden Goose Resources for their strong support of this arrangement and for their confidence in our plans to generate shareholder value. We look forward to closing this transaction quickly and continuing the corporate transition from explorer to emerging gold producer."

Francois Perron, CEO, President of Golden Goose Resources, who will be resigning his positions when the transaction closes, said, "It has been my privilege to serve Golden Goose shareholders. On behalf of the Golden Goose Board of Directors, I thank the shareholders for their resounding approval of this arrangement to begin the next chapter of the development of Magino Mine project."

On behalf of the Boards of Directors:

Brian J. Maher, President and Chief Executive Officer, Kodiak Exploration Limited

Francois Perron, President and Chief Executive Officer, Golden Goose Resources, Inc.


The statement in this document regarding the completion of the merger may constitute forward-looking information within the meaning of applicable securities laws. There are a number of factors that could cause actual results or events to differ materially from those indicated by such forward-looking information, including delays in completing the merger and, as such, investors are cautioned not to put undue reliance on such forward looking information. Except as required by applicable law, each of Kodiak and Golden Goose disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this document.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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