GGR Golden Goose Resources

Kodiak Exploration Limited (TSX VENTURE:KXL)(FRANKFURT:KX3) ("Kodiak") and
Golden Goose Resources Inc. (TSX VENTURE:GGR) ("Golden Goose") are pleased to
announce that, further to their joint news releases dated August 31, 2010 and
December 13, 2010, the business combination between the companies by way of a
statutory plan of arrangement pursuant to the provisions of the Companies Act of
Quebec (the "Arrangement") was approved by the Superior Court of Quebec on
December 14, 2010 and closed effective at 12:01 am (Montreal time) earlier
today. 


Pursuant to the Arrangement, Golden Goose shareholders will (subject to the
provisions for Small Lot Holders set out below) receive 1.2 Kodiak shares and
one quarter of one non-transferable Kodiak warrant for each Golden Goose share
surrendered, where each whole warrant entitles its holder to purchase one Kodiak
share at a price of $0.45 for a period of three years. Outstanding options to
purchase Golden Goose shares ("Golden Goose Options") are to be cancelled and
holders of such options are to receive options to purchase such number of Kodiak
shares ("Kodiak Options") and at an exercise price that reflects the exchange
ratio of 1.2 Kodiak Options for each Golden Goose Option. 


Small Lot Holders

As set out in the Golden Goose information circular in respect of the
Arrangement dated November 10, 2010, any holder of less than 500 shares of
Golden Goose who did not elect prior to the effective date of the Arrangement to
receive common shares and warrants of Kodiak in exchange for his or her shares
of Golden Goose will receive a cash payment of $0.25 per Golden Goose share
held. 


Board of Directors of Kodiak

As a result of the closing of the Arrangement, Kodiak is now the sole
shareholder of Golden Goose and the board of directors of Kodiak now consists of
seven directors, being Michael E.J. Phelps, Thomas Barber, Robert Harrington,
Thomas P. Mullan, David Richardson, George Salamis and David Watkins. 


Letter of Transmittal

The letter of transmittal that was provided to Golden Goose shareholders with
the meeting materials in respect of the Arrangement misstated the exchange
ratio. It stated that Golden Goose shareholders would receive one share of
Kodiak and one quarter of a Kodiak warrant in exchange for each share of Golden
Goose held. The correct exchange ratio is set forth above. 


On behalf of the Boards of Directors:

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

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

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