NaiKun Wind Energy Group Inc.
TSX VENTURE : NKW

NaiKun Wind Energy Group Inc.

December 05, 2007 20:22 ET

NaiKun Enters Into Commercial Agreements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2007) - NaiKun Wind Group ("NaiKun") (TSX VENTURE:NKW) is pleased to announce the expansion of its relationship with north coast First Nations communities. As a first step in concluding arrangements for transmission corridors, NaiKun and two First Nations communities have agreed on terms of access and economic and financial benefits.

The agreements include the issuance by NaiKun of 1,000,000 warrants to purchase common shares, with a two year term from their issuance on December 4, 2007 and an exercise price of $2.66.

"NaiKun is delighted to have concluded these two new agreements, building upon our working relationship with First Nations communities. They recognize the long term economic opportunities and environmental benefits of offshore wind energy for the north coast," said Michael C. Burns, Chairman of NaiKun Wind Group. "We respect First Nations values and share their commitment to environmental stewardship. We hope to extend our community relationships throughout the project's development."

NaiKun is proposing one of the world's largest offshore wind projects in Hecate Strait in northwest British Columbia. It is a five-phase, 1,750 MW wind project with phase one, 320 MW, currently under development for submission in BC Hydro's 2008 Clean Energy Call.

NaiKun Wind Energy Group Inc. (TSX VENTURE:NKW) is a Vancouver-based energy company that has traded on the TSX Venture Exchange (and its predecessors) since 1967. Since 2000, the company has focused on renewable energy. Its subsidiary, NaiKun Wind Development Inc., is engaged in the development of a major offshore wind project off the coast of British Columbia in an area known as the Haida Energy Field. Interested parties are invited to visit the company's website at www.naikun.ca.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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