"It better be worth it and some justifucation is in order from the clam shells now in charge of KXL."...

Identical deal signed in April for Wildgoose property... have yet to hear anything about exploration plans... why it was picked up etc...latest acquisition just seems to be part of continuous land grab ongoing in BG region... questions I often ask myself re: endless land grabs... are they acquiring more land because they are losing faith in Hercules to produce economically feasible desposit?... or, are they acquiring more land to prepare company for enevitable buyout of Hercules?... SGX has also been very active acquiring land everywhere in BG with no explanation of why or future plans... both companies just seem to want as much as they can get... another speculative possibility is that they are quietly acquiring land while in talks with a major... the major knowing full well KXL could likely acquire it cheaper... when enough land is acquired the major steps in and takes out the entire region... hey everyone's allowed to dream LOL...

red911

Ginguro Exploration options Wild Goose Lake to Kodiak

2009-04-22 10:35 ET - News Release

Also News Release (C-KXL) Kodiak Exploration Ltd

Mr. Guy Mahaffy of Ginguro reports

GINGURO OPTIONS WILD GOOSE PROPERTY TO KODIAK EXPLORATION

Ginguro Exploration Inc. has signed an option agreement with Kodiak Exploration Ltd. pursuant to which Kodiak can an earn a 100-per-cent interest in Ginguro's Wild Goose Lake property located in the Beardmore-Geraldton mining camp in Northern Ontario.

The Wild Goose property consists of a 16-unit claim and is contiguous with claims held by Kodiak. The Wild Goose Lake property was staked by Ginguro in late summer of 2008.

Kodiak may earn a 100-per-cent interest in the property by making the following payments:

• $10,000 within five business days after the date of receipt by Kodiak of notice of acceptance by the TSX Venture Exchange of a filing in respect of the agreement;
• $15,000 not later than March 24, 2010;
• $25,000 not later than March 24, 2011;
• $50,000 not later than March 24, 2012;
• $100,000 not later than March 24, 2013.

At Kodiak's option, any one of the above-noted payments (with the exception of the initial $10,000) may be satisfied by the issuance of Kodiak shares. Any shares issued by Kodiak pursuant to this agreement will be issued at a price equal to the average closing price of Kodiak's shares for the 10 consecutive trading days ending on the fifth trading day prior to the payment due date, and will be subject to a four-month hold period.

Ginguro will retain a 3-per-cent net smelter returns royalty on the property.

Kodiak will have the right and option to purchase one-third of the royalty (in example 1.0 per cent) at any time for $500,000. Kodiak will have the further right and option to purchase an additional one-third of the royalty (in example 1.0 per cent) at any time for an additional $1-million. All or any part of any payment made to purchase a portion of the royalty may be made in cash or, at Kodiak's option, by the issuance of Kodiak shares, with such number of shares being determined as described above.

We seek Safe Harbor.