Prodigy Gold Inc (KXLAF)

[NYBob]

PDG NEW PRESENTATION April 11-11 Superb

Boy Mr. Maher, along with his BOD are working very hard to get to the production phase of MAGINO AND MORE...It is certainly fascinating, from a Geologic view, how they have discovered not only the existing Gold within these infill drilling, which show great amounts, like that 281 Ms an that 100Ms +of proven Economic Gold, at a cost of #496 per ounce, and they have yet to release the vast majority of these in fill drills, but I feel after a carefull review of this report , that PDG is actually finding much more gold, as they are able to identify many more Gold Areas, even within the envisioned Open Pit....

In my view , they will not be leaving this area anytime soon, and so we may have assay results due out, in a couple of months or so, but as I say much more drilling here will be necessary, because of the current drilling is showing many more Gold areas
I would reasonably say that this PDG open PIT, will at least this year rack up over 4 Million ounces, just in the outlined pit...And I would also that outside said open Pit area, there will also find large areas masses of similar grades...One very interesting point made at least 3 times, is that they only have drilled down to 600 Ms , and are very exited indeed about drilling down there, since it appears that the deeper thy drill, the higher the grade...
As for their other properties, It seemed to me that 2 smaller drilling programs will be undertaken this summer, however, my interpretation was that MAGINO would be for NOW, the main area of work. After reviewing this report I have come to the conclusion that MAGINO and it surrounding 20 square KMS, will hold some real surprises, as evidenced by the fact that they intend to study and acquire more land besides/adjacent to Magino...

I am sure next year when they are ready to open up the pit, that the 200 Millions $$ required will be easily available as a Bankable report will be done, up to that time...Mr. Maher intends to continue feasible take overs with known deposits of Gold, and continue building shareholder Values$$ for our PDG here in good old safe CANADA........

Thank you Mr. Maher and BOD , you now have the bull by it,s horns...well done...

M99.....ENJOY!!!!!
....

http://prodigygold.com/_resources/prodigy_gold_-presentation_11apr2011.pdf

[NYBob]

Prodigy Gold Live @ PDAC
By admin · April 6, 2011 · 10:44 am · Leave a Comment


http://www.resourceintelligence.net/prodigy-gold-live-pdac/16947

Resource Intelligence Live @ PDAC: Prodigy Gold’s Brian Maher, President and CEO

Check out the company’s profile and evaluate their resources HERE, with RI Analytics.

RI: Brian Maher, would you first update us on your Magino Mine project? Gold investors need to know about your new resource estimate that significantly increased your resources.

BM: At the Magino mine project—located northeast of Wawa, Ontario—we just put out a brand-new resource estimate. Indicated gold resources of 1.9 million ounces and inferred resources of 0.6 million ounces at an average grade in both categories of about 1.1 g/t gold. The real significance is that this is a resource estimate that’s really tightly constrained. We’ve used a conceptual pit shell so that all these numbers report to a conceptual pit shell and these aren’t resource numbers floating out into space. The pit shell goes down to 300 metres and what is really interesting about this system is that we know by drilling that it extends down to at least 600 metres and is open at depth. This is really just the first pass examination of what we have within a conceptual open pit operation.

RI: It’s been looked at in the past as an underground deposit but what you’ve found is more mineralization all around your high-grade mineralization.

BM: Exactly. It was an underground mine that operated between 1988 and 1992. It produced 105,000 ounces and that is how the project was traditionally viewed. We came and did our due diligence during the acquisition phase and that’s when we recognized there were large volumes of disseminated mineralization enveloping the higher grade chutes. We’ve now come through with a new model and we now have this resource which reflects what could possibly be mined in a future open pit operation.

RI: Let’s talk about this project as far as costs. Is this just a high-grade open pit deposit or do you have a lot of buffer in terms of gold dropping back down to $1,000 or $800?

BM: One thing that anyone who examines the data we’ve put out is that if you look at this deposit at a variety of cutoff grades it’s still very robust as that cutoff grade rises. How does that reflect the gold price? If gold prices should go down you’d have to apply that higher cutoff grade. In other words, it should be fairly well insulated from significant changes in gold prices which is something we’re all looking at when we think about what this thing is going to look like in 2015 or 2020 when it may actually be in production.

RI: Do you have a sense of your cash costs per ounce?

BM: What we’ve done is we’re going to take this resource and put out a preliminary economic assessment, essentially a scoping study or pre-feasibility study on the deposit. The engineering consortium that we put together to do the work have a series of parameters that we would like them to examine in terms of what this thing could look like. The targets we’ve established are in operation of about 15,000 tonnes per day. We would like to see the cash costs at the $500 or less range. These are targets obviously, but we feel with those types of parameters we’d be looking at a very robust and very profitable mining operation.

RI: You’re also a geologist and you’ve got experience on both sides of the coin with exploration experience and production experience.

BM: In the course of my career I’ve had the good fortune of working in exploration as well as in production. That’s unique for a geologist. Most people just have one side or the other. I’ve seen the pit falls of what can happen when you’re actually trying to produce from that great resource you have out there. When we sit down and we’re talking to the engineering team about what this could look like I understand the ins and outs of the milling, mining and production and the costs. It allows us to be a little bit tougher on these guys to make sure that we’re getting a good solid number out to the public.

RI: Let’s talk about the infrastructure for the project. It’s well-chosen in the sense that it’s a past producer. You’ve got an existing road to the project and power, what else?

BM: One of the things that is foremost in our business plan company-wide is that, with the projects that we have besides Magino, we like being in Ontario and Eastern Canada. Besides the obvious geopolitical stability portion of the equation, you are in a part of this country where there is a history and culture of mining. When you start announcing that you’re starting to think about putting something into production and going forward with a major mining operation, the reaction from the communities and in the regulatory agencies is one of good, we understand that. To me, that’s part of the infrastructure question as well.

For Magino’s infrastructure, we have power to the property, a rail line within three kilometers, road right to the project and adjacent to us is an operating underground gold mine. In other words, all those key pieces that you look for to build an operation are already in place. The key for a shareholder or investor is that it lowers your capital costs as you’re developing a project.

RI: You’re coming out with a PEA this year and you’re planning on a feasibility study next year, is that the kind of pace that you think investors need for this project?

BM: I think most of the people in this industry, investors as well as professionals, view the current gold price cycle as being long-lived. The reality is that this is an opportunity in this price cycle to develop projects. There is really no reason to go slow or delay especially if you have a project like ours which has an operating history, metallurgical tests already completed and 1,300 drill holes already present. We can somewhat fast-track this type of gold project.

So we put out a time-line that, while aggressive, is achievable. The PEA is scheduled for mid April of this year and then we’ll launch directly into full feasibility. We just put out the first revised resource number last week but we have drilling ongoing with a 20,000 metre program in-filling to upgrade the resource and move ounces from the inferred category into indicated and measured but also to make sure that we’re seeing all the gold that’s in the system and bring new ounces to the resource.

RI: You’re talking about a target production rate of 15,000 tonnes per day and up to 150,000 ounces of gold per year, what is the mine life?

BM: Ideally we’d like to see a mine life in the 10-year range. The reason for that is twofold, when you’re starting a mining operation and looking at cash flow and discounted cash flow analysis revenue dollars that at year 15, 16 or 17 are so highly discounted that they don’t really impact the NPV of a project. However, a very short mine life that may bring cash rapidly to the project doesn’t give you the flexibility should there be an issue during the operation. We try to plan for everything in the mining world but the reality is that each mine is its own unique situation and you want to have some flexibility in terms of operations so that if there is something that’s different than planned for you can make an adjustment and still go forward. A 10 year mine life is really ideal as you’re targeting what you’d like to see.

RI: When you look at a lot of projects of this size they might choose something smaller such as a 3,500 to 5,000 tonne per day model but what you’re going to be doing is bringing yourself much closer to a mid-tier producer status.

BM: We feel that the 150,000 ounce plateau is crucial because lower than that you’re really a micro gold producer and not approaching that mid tier level. If you look at market valuations those companies at 150,000 ounce per year or higher tend to receive more enterprise value per ounce of production than smaller producers. It’s a key benchmark of what kind of company you are and where you can go. It’s all driven by your deposit and we are fortunate enough at Magino to have a property that can meet those criteria.

RI: How well financed are you to take it through the next steps?

BM: Right now we have working capital of about $8 million, which we can easily get through the year if we wish. We believe we’re going to see some significant share price appreciation as the market starts to digest the news of our resource, as we put out the PEA, as the drilling results from the infill program continue and if an opportunity were to present itself to finance at a higher share price we’d certainly look at it.

RI: I look at your share price and compare it to your peers and it’s instantly clear to me that you’re being discounted for something there?

BM: We see that as well. Right now we’re trading for $25 or $26 per resource ounce in the ground and our peer group, those with an advanced project in Eastern Canada, are getting upwards of $150 per resource ounce in the ground. That does make us dramatically undervalued but perhaps that is the opportunity that we’re presenting to the investment community and recognizing that we’ve only had this resource out for five days and the PEA is still coming, drill results are forthcoming and a new resource update in the middle of the year followed up by full feasibility. There will be plenty of benchmarks along the way for re-valuation of the company so that we do achieve the valuation that our peer group has.

RI: What milestones do you think are most important and that investors are going to be looking for?

BM: I think in the short term, our PEA, so we can put some economic numbers to this resource. There are a lot of gold resources out there but not many of them actually get to the PEA stage where you’re demonstrating the economic viability and potential mining operation. When you do that you’re taking the risk out of those ounces in the ground and you provide some security for shareholders and give them something tangible they can look at. The PEA is going to be a major value driver for us.

[NYBob]

Prodigy Gold Inc. (TSX:PDG) Schart TA TI P&F Alert Bullish Price 1st Target fiat$1.24 per share -


GOLD chart TA TI P&F Bullish Price 1st Target Obj $1710.8 per ounce


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61802225

[NYBob]

Prodigy Gold soars after PEA results from Magino
indicate 49% IRR
Mon 1:41 pm by Deborah Sterescu



Prodigy Gold soars after PEA results from Magino
indicate 49% IRR

Prodigy Gold's (CVE:PDG)
shares rose as high as 19% on Monday after the company announced
an estimated 49% internal rate of return from its Magino gold
project in northern Ontario, with cash costs of just
US$496 per ounce.

Following the release of the comany's preliminary economic
assessment (PEA) on the Magino mine today, its shares soared
to $0.50 as of 11:46am EST - up nearly 15%.

The NI 43-101 compliant report, led by CWA Engineers,
also estimated that using a US$1,000 per ounce gold price,
the open pit gold project would generate a pre-tax
net present value of $351 million at a 5% discount rate.

Average annual gold production for Magino is projected
at 166,500 ounces per year over a nine-year operating life,
for 1.50 million total ounces of recovered gold.
The recovery rate is estimated at a whopping 95%,
with the average grade processed during the first
two years of operations expected to be 1.6 g/t gold.

Prodigy said that start up capital costs were calculated
at $242 million, with an additional $34 million in
sustaining capital, and a payback period of 1.8 years.

"With a projected mine life of nine years, cash costs
of US$496 (Cdn$521) per ounce and rapid payback of capital,
Magino is developing into one of the leading undeveloped gold
projects in eastern Canada," said president and CEO Brian Maher.

"The on-going in-fill drilling program, which is targeting
gold mineralization within the proposed open pit, may enhance
project economics as we convert internal waste into resources,
simultaneously increasing contained ounces and lowering costs."

The company said it plans on updating the preliminary economic
report once this drilling is completed.
Based on the pit design and production schedule used for
the study, Magino has total mineable resources of
41.8 million tonnes, grading 1.18 g/t gold.

A full feasibility study for the proposed open pit mining
project is scheduled for early 2012.

[NYBob]

Prodigy gold new Corporate Presention

Dated March 28/2011


http://www.prodigygold.com/investors/

[NYBob]

Prodigy Receives Positive PEA For Magino: NPV of $351M and IRR of 49%
Apr. 4, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA --

Prodigy Gold Incorporated
(TSX VENTURE:PDG) is pleased to announce the results from a
NI 43-101 compliant Preliminary Economic Assessment (PEA)
of its 100% owned Magino mine gold project in northern Ontario.
The PEA, completed by CWA Engineers Inc., in a consortium
including Snowden Mining Industry Consultants Inc. (Snowden)
and Knight Piésold Canada, has established strong economics
for the proposed open pit gold mining project at Magino.
(All figures are in Canadian dollars except where noted).

http://tmx.quotemedia.com/article.php?newsid=40056575&qm_symbol=PDG

Highlights of the PEA (base case using US$1,000/oz gold):

Pre-tax Net Present Value (NPV) of $351 million at a 5% discount rate generating an Internal Rate of Return (IRR) of 49%; payback period is 1.8 years
At a US$1,300/oz gold price, the project generates a pre-tax NPV of $691 million and an IRR of 80%
Pre-tax cash flow from operations over the proposed Life of Mine (LOM) is estimated to be $796 million, net cash is projected to be $520 million LOM
Start-up capital costs are estimated to be $242 million with an additional $34 million in sustaining capital
Average annual gold production is estimated to be 166,500 ounces per year over a nine year operating life producing 1.50 million ounces of gold, recovery is estimated to be 95%
Average LOM cash operating costs (exclusive of sustaining capital) are estimated to be US$496 (Cdn$521) per ounce
During the first two years of proposed mine operations, the average grade processed will be 1.60 gpt gold
Total minable resources of 41.8 million tonnes grading 1.18 gpt gold with a strip ratio of 2.8:1
Ongoing in-fill drilling to date is targeted at increasing the gold resource by converting internal waste to resources; the PEA to be updated upon completion of the drilling

Brian Maher, President and CEO of Prodigy Gold stated: "The completion of the Magino mine PEA by the engineering consortium is a major milestone for Prodigy Gold, demonstrating the robust economics of our proposed open pit gold mine at Magino. With a projected mine life of nine years, cash costs of US$496 (Cdn$521) per ounce and rapid payback of capital, Magino is developing into one of the leading undeveloped gold projects in eastern Canada. The on-going in-fill drilling program, which is targeting gold mineralization within the proposed open pit, may enhance project economics as we convert internal waste into resources, simultaneously increasing contained ounces and lowering costs. We view this PEA as a first pass analysis and look forward to fine-tuning the operating and milling plan with a focus on lowering costs and increasing the resource base prior to completing a full feasibility study."

Project Assumptions and Parameters:
Assumptions:
Base gold price (US$/oz) 1,000
Exchange Rate (Cdn$/US$) 1.05
Milling rate (tpd) 15,000
--No royalty
--No sunk costs
--Total capital costs include initial and sustaining capital
--100% equity financing
--Costs are estimated in 2011 first quarter dollars

Mine and Mill Parameters:
Total resource milled (million tonnes) 41.82
Waste moved (million tonnes) 115.55
LOM strip ratio 2.76:1
Average gold grade (gpt) 1.18
Total contained gold (million oz) 1.57
Estimated gold recovery (%) 95
Total recovered gold (million oz) 1.50
Project life (years) 9
Average annual production (oz) 166,500

Costs and Capital Requirements:
Mining costs ($/tonne) 2.25
Transportation costs ($/tonne) 0.50
Milling costs ($/tonne) 9.17
G and A ($/tonne) 1.13
Pre-production capital ($ million) 242
Sustaining capital ($ million) 34
Average cash cost (US$/oz) 496 (Cdn$521)

Financial Analysis:
Average annual pre-tax cash flow ($ million) 57.8
NPV 5% discount rate pre-tax ($ million) 351
NPV 5% discount rate post-tax ($ million) 259
IRR pre-tax (%) 49
IRR post-tax (%) 41
Pre-tax payback period (years) 1.8

Magino Mine Resources

The Magino mine resources used in the PEA were previously reported in a Prodigy Gold press release dated February 28, 2011. The resource estimate, completed by Snowden, contained Indicated gold resources of 1,924,200 ounces grading 1.16 gpt gold (51.6 million tonnes) and 587,100 ounces of Inferred gold resources grading 1.04 gpt gold (17.5 million tonnes) using a 0.35 gpt cut off grade. The complete resource estimate table is included below:
Indicated Inferred

Cut off (gpt Gold) Tonnes Grade (gpt Gold) Grams Gold Ounces Gold Tonnes Grade (gpt gold) Grams Gold Ounces Gold
2.00 6,991,000 2.86 19,969,200 642,000 1,807,000 2.79 5,043,900 162,200
1.50 11,635,000 2.41 28,036,500 901,400 2,711,000 2.43 6,599,300 212,200
1.00 20,192,000 1.90 38,336,900 1,232,600 5,854,000 1.77 10,343,100 332,500
0.75 31,532,000 1.53 48,105,600 1,546,600 10,113,000 1.39 14,017,800 450,700
0.50 46,939,000 1.23 57,785,400 1,857,800 15,579,000 1.12 17,422,900 560,200
0.35 51,633,000 1.16 59,850,000 1,924,200 17,494,000 1.04 18,260,400 587,100

Potentially open-pit minable resources were calculated by Snowden using Snowden's resource model (as reported in a press release dated February 28, 2011). This resource model as well as the cost parameters mentioned above, and an average pit wall slope assumption of 45° were used to develop an optimum final pit shell using Whittle 4D. After determining the optimal pit shell Snowden then used lower revenue factor shells to select appropriate push backs to assist in scheduling the operation. Snowden then developed a life of project schedule for the resource which utilizes an extensive low grade stockpile to increase the average mill feed grade, maximizing value in the early years of the project's life. The schedule developed supports an average mill feed rate of 15,000 tonnes per day, for about nine years. To support this mill feed, total material movement from the open pit peaks at about 62,500 tonnes per day in year three with a typical material movement requirement of about 55,000 tonnes per day of combined waste and process feed.

Using the final pit shell from Whittle, Snowden designed a conceptual final pit design as well as associated waste dumps, low grade stockpile, and ramps. Mining is assumed to be undertaken by a contractor. The financial analysis includes a mobilization allowance of $5 million for the contractor.

Mining and Production

The pit design, optimization and production schedule prepared by Snowden resulted in a potential production schedule containing 41.82 million tonnes grading 1.18 gpt gold. Total gold recovered over a nine year project life is 1.50 million ounces, averaging 166,500 ounces per year. The LOM average strip ratio is estimated to be less than 2.8 to 1. A summary of the annual mine production is outlined below.

To view summary of the annual mine production, please visit the following link: http://media3.marketwire.com/docs/PGOLD44.pdf

Processing Facility

The PEA contemplates using a conventional carbon-in-leach (CIL) processing facility operating at 15,000 tpd with 95% availability. The crushing consists of a three stage crushing plant and a fine ore stockpile. The fine ore will be reclaimed to feed two ball mills in parallel. Each ball mill will be in a closed circuit with cyclones.

The cyclone overflow from each ball mill will be fed to a train of leach tanks with sodium cyanide and carbon (carbon-in-leach process) for 48 hours to extract 95% of the contained gold. The loaded carbon will be washed and stripped in a hot caustic solution at an elevated temperature and pressure. The pregnant solution exiting from the stripping circuit will be cooled and pumped to a set of electrowinning cells where the gold will be plated out on steel wool. The gold laden steel wool will be smelted on site to produce dore.

The stripped carbon will be reactivated and returned to the CIL circuit. The residual cyanide in the tailings from the leach will be destroyed using sulphur dioxide, copper sulphate and lime before the tailings are pumped to the storage area. The supernatant from the tailings will be reclaimed and re-used in the process plant.

Operating Costs

Operating cash costs, excluding sustaining capital, over LOM are projected to average US$496/oz (Cdn$521). Costs are summarized below:
$/tonne milled $/tonne mined $/oz gold
Average mining costs 8.31 2.25 232 (US$221)
Stockpile reclaim 0.50 - 2 (US$2)
Processing cost 9.17 - 256 (US$244)
G and A 1.13 - 31 (US$29)
Total: 19.11 - 521 (US$496)

Capital Cost Estimates

The PEA is based upon capital pricing as of the first quarter of 2011. The level of accuracy of the capital cost estimate is ± 40% for this PEA. Pre-production capital costs are estimated at $242 million. Because mining is assumed to be undertaken by a contractor, the mining fleet capital is limited to $5 million for the contractor mobilization. Sustaining capital, principally staged additions to the capacity of the tailings pond, is estimated to be $34 million. The cost breakdown for pre-production capital expenditures, assuming contract mining, is shown below.
Description Pre-production Capital ($ million) Sustaining Capital ($ million)
Mining 5
Process Plant 142
Tailings 17 34
Infrastructure 4
Total direct costs 168 34
Other Indirect 2
EPCM 16
Contingency (30%) 56
Total indirect costs 74
Total 242 34

Financial Analysis

The financial analysis for the Base Case evaluation utilizing a gold price of US$ 1,000 per ounce indicates a pre-tax NPV at a 5% discount rate of $351 million with an IRR of 49% and a payback period of 1.8 years. On an after tax basis, the NPV at a 5% discount rate is $259 million with an IRR of 41% at a gold price of US$1000 per ounce. The project generates an undiscounted pre-tax cash flow from operations of $796 million over the LOM. The table below outlines NPV and IRR at a variety of gold prices and discount rates (DR) on a pre-tax basis.
Gold Price (USD$) 1,000 900 1,200 1,300
Cash flow from operations ($ million) 796 638 1,112 1,269
NPV 0% DR ($ million) 520 362 835 993
NPV 5% DR ($ million) 351 237 578 691
NPV 7.5% DR ($million) 289 192 484 581
IRR Base Case (%) 49 38 70 80

Note on Mineral Resources

Mineral resources that are not mineral reserves do not have demonstrated economic viability. This assessment is preliminary in nature as it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable to them to be categorized as mineral reserves. At this time there is no certainty that the preliminary assessment and economics will be realized.

Qualified Persons for the PEA

The PEA was prepared by leading independent industry consultants, all Qualified Persons (QP) under National Instrument 43-101. The QPs have reviewed and approved the content of this news release. The following consultants and QPs participated in the PEA:

CWA Engineers Inc, under the direction of Frank Yu, P. Eng. Mr. Frank Yu is the Technical Director, Mining of CWA Engineers Inc. He supervised and reviewed the process design and infrastructure update requirement, capital and mill operating cost estimate and financial analysis of this project.
Snowden Mining Industry Consultants Inc., under the direction of Anthony Finch, MAusIMM. Mr. Anthony Finch is the Divisional Manager Mining Engineering and Principal Consultant at Snowden Mining Industry Consultants Inc. He supervised and reviewed all the mining design aspects of this project.
Knight Piésold Canada, under the direction of Daniel Y. Yang, P. Eng. Mr. Daniel Yang is a Senior Engineer of Knight Piésold Canada. He supervised and reviewed the tailings storage facility for this project.

A NI 43-101 compliant technical report will be filed on SEDAR within 45 days of the date of this press release.

About Prodigy Gold: Prodigy Gold Inc. (TSX VENTURE:PDG) is currently evaluating the development of the Magino mine gold project in Ontario as an open-pit mining opportunity with the potential for deeper, higher grade gold production. The Magino project contains Indicated gold resources of 1,924,200 ounces grading 1.16 gpt gold (51.6 million tonnes), and 587,100 ounces of Inferred gold resources grading 1.04 gpt gold (17.5 million tonnes) (please see Prodigy press release dated February 28, 2011). A Preliminary Economic Assessment (PEA) of the project shows a pre-tax NPV of $351million and an IRR of 49% using a 5% discount rate (please see Prodigy press release dated April 4, 2011). The proposed operation would have an average annual gold output of over 166,000 ounces a year during a nine year project life. Total gold production is estimated to be 1.50 million ounces at cash costs of approximately US$496 (Cdn$521) per ounce. A full feasibility study for the proposed open pit mining project is scheduled for early 2012. Bringing the Magino mine project through the feasibility process and towards production, coupled with the exploration potential of our Beardmore-Geraldton exploration properties, are the catalysts to growing Prodigy Gold and building substantial value for Prodigy shareholders: Today's Discovery, Tomorrow's Future.

All scientific and technical information in this news release, except as noted above, has been reviewed and approved by Tom Pollock, P.Geo., Prodigy Gold's Vice President – Exploration, who is a qualified person under the definitions established by National Instrument 43-101. Drill core at Magino is boxed, covered, and sealed at the drill rig and moved to the Prodigy logging and sample preparation facilities by Prodigy Gold personnel. The core is then split down the centre using a typical table fed circular rock saw normally at one metre intervals. One half of the core is sent for assay to ALS Chemex, 2090 Riverside Dr., Timmins, ON, P4R 0A2, while the other half is returned to the core box and stored at Prodigy's sampling facility in a secure, fenced off, area. Prodigy QA/QC procedures include the regular use of blanks, standards and duplicate samples in addition to sending 10% of the samples off to a second lab for check assays. Samples assaying > 3.0 gpt gold are automatically re-assayed by the metallic screen method. Drill holes are directed as much as possible perpendicular to the strike and dip of the mineralization at Magino.

On behalf of the Board of Directors

Brian J. Maher, President and Chief Executive Officer

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Magino mine property and other future plans, objectives or expectations of Prodigy Gold Incorporated (the "Company") are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

Prodigy Gold Incorporated
President and Chief Executive Officer
1-604-688-9006
1-604-688-9029 (FAX)
[e-mail]
http://www.prodigygold.com

[NYBob]

Prodigy Gold Closes Private Placement With Macquarie
Mar. 17, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Prodigy Gold Incorporated
(the "Company" or "Prodigy Gold") (TSX VENTURE:PDG),
is pleased to announce it has closed the non-brokered private
placement originally announced on March 8, 2011 pursuant to
which Macquarie Bank Ltd. ("Macquarie") has acquired 7,000,000
units of the Company at a price of $0.45 per unit for proceeds of $3,150,000.

http://tmx.quotemedia.com/article.php?newsid=39662618&qm_symbol=PDG

Each unit consists of one common share of the Company (a "Common Share") and one-half of one transferable Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder, on exercise thereof, to purchase one additional Common share at a price of $0.60 for a period of 24 months from the completion of the offering, provided that if the daily volume weighted average price for twenty (20) consecutive days of trading of the Company's shares on the TSX Venture Exchange (or such other stock exchange on which shares of the Company are listed) exceeds $0.75 per share, the expiry date of the Warrants may be accelerated to the day which is thirty (30) calendar days after notice of acceleration has been sent by the Company to Macquarie. All securities issued in connection with the private placement will be subject to a minimum four-month hold period.

The proceeds from the private placement will be used to fund the Company's ongoing exploration and development at the Magino mine project and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, or unless an exemption from such registration is available.

About Prodigy Gold: Prodigy Gold Incorporated (TSX VENTURE:PDG) is currently evaluating the Magino mine project in Ontario as an open-pit mining opportunity with the potential for deeper, higher grade gold production. The Magino mine project contains Indicated gold resources of 1,924,200 ounces grading 1.16 gpt gold (51.6M tonnes), and 587,100 ounces of Inferred gold resources grading 1.04 gpt gold (18.3M tonnes) (please see Prodigy press release dated February 28, 2011). The Company is producing a Preliminary Economic Analysis (PEA), establishing the economic parameters of an open pit mining operation at Magino. The PEA is expected to lead to a full feasibility study, projected for early 2012. Bringing the Magino Mine project through the feasibility process and towards production, coupled with the exploration potential of our Beardmore-Geraldton exploration properties, are the catalysts to growing Prodigy Gold, building substantial value for Prodigy shareholders: Today's Discovery, Tomorrow's Future.

The geological information for the Magino project has been reviewed and approved by Tom Pollock, P.Geo., Prodigy Gold's Vice President – Exploration, who is a qualified person under the definitions established by National Instrument 43-101. Drill core at Magino is boxed, covered, and sealed at the drill rig and moved to the Prodigy logging and sample preparation facilities by Prodigy personnel. The core is then split down the centre using a typical table fed circular rock saw normally at one metre intervals. One half of the core is sent for assay to ALS Chemex, 2090 Riverside Dr., Timmins, ON, P4R 0A2, while the other half is returned to the core box and stored at Prodigy's sampling facility in a secure, fenced off, area. Prodigy QA/QC procedures include the regular use of blanks, standards and duplicate samples in addition to sending 10% of the samples off to a second lab for check assays. Samples assaying greater than 3.0 gpt gold are automatically re-assayed by the metallic screen method. Drill holes are directed as much as possible perpendicular to the strike and dip of the mineralization at Magino. As a rough estimate the true thickness of the above intercepts is approximately 76%.

On behalf of the Board of Directors

Brian J. Maher, President and Chief Executive Officer

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the Magino mine property and other future plans, objectives or expectations of Prodigy Gold Incorporated (the "Company") are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

Prodigy Gold Incorporated
President and Chief Executive Officer
1-604-688-9006
1-604-688-9029 (FAX)
[e-mail]
www.prodigygold.com

[NYBob]

PDG a great new start for the old Magino Gold Mine -

PDG it wil not take long before re-commissioned
with Higher Gold prices, more Gold Reserves and
the shallow old drilling results -
<3g/t from 1300 drill holes -
still not added and counted into the results -
plus a lot of new drilling results since 2008 has been done -
and soon will be added to the
old 43-101 resource estimate for PDG
Magino gold property -

the 2008 old est. -
Cut-off Grade
Grade - Tonnes - (Au g/t) - Ounces
-------------------------------------------------------------------------
-------------------------------------------------------------------------
3 g/t - 3,755,600 - 5.94 - 717,227
-------------------------------------------------------------------------
4 g/t - 2,515,400 - 7.19 - 581,469
-------------------------------------------------------------------------
5 g/t - 1,880,900 - 8.11 - 490,430
-------------------------------------------------------------------------
6 g/t - 1,371,200 - 9.09 - 400,733
-------------------------------------------------------------------------
7 g/t - 959,600 - 10.19 - 314,380
-------------------------------------------------------------------------
-------------------------------------------------------------------------

God Bless

[NYBob]

Kodiak Changes Name to Prodigy Gold Incorporated

Dec. 31, 2010 (Filing Services Canada) -- Kodiak Exploration Limited (KXL - TSX Venture, KXLAF - OTCBB_Pink_Sheets, KX3 - FWB), is pleased to announce that effective today at 1:15 PM PST, pursuant to a resolution passed by Directors, the Company has changed its name to Prodigy Gold Inc. The common shares of the Company will trade on the TSX Venture Exchange under the symbol "PDG". The Company will commence trading under the new name and symbol at the market open on Tuesday, January 4, 2011. There is no consolidation of capital and no exchange of shares is required.


On behalf of the Board of Directors
Brian J. Maher
President and Chief Executive Officer


FOR FURTHER INFORMATION, PLEASE CONTACT:
Kodiak Exploration Limited
Email: [e-mail]
Website: www.kodiakexp.com
Tel.: [phone]
Fax: [phone]


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. This release may contain forward-looking statements or statements that relate to programs that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

Suite 1205 - 700 West Pender Street,
Vancouver, B.C., V6C1G8 Canada.
Tel: [phone]
Fax: [phone]
Email: [e-mail]
Website: www.kodiakexp.com




Source: Kodiak Exploration Limited (TSX-V: KXL) http://www.kodiakexp.com
Maximum News Dissemination by Filing Services Canada Inc. *
www.usetdas.com
Kodiak Exploration Ltd (TSX:KXL)

[NYBob]

Kodiak Exp Ltd (KXLAF)
0.342 ? 0.0 (0.00%)
Volume: -
Bid Ask Day's Range
- - - - -
Full KXLAF Quote

[NYBob]

Kodiak Exploration Limited President and Chief Executive Officer

1-604-688-9006
1-604-688-9029 (FAX)
[e-mail]

http://www.kodiakexp.com

[NYBob]

Kodiak Exp Ltd (KXLAF)
0.336 ? 0.0 (0.00%)
Volume: -
Bid Ask Day'

[NYBob]

Kodiak Reports New Core Assays From Magino: 114 Metres Grading 1.84 gpt Gold

http://tmx.quotemedia.com/article.php?newsid=36671838&qm_symbol=KXL

VANCOUVER, BRITISH COLUMBIA, Dec. 17, 2010 (Marketwire) -- Kodiak Exploration Limited (Kodiak) (TSX VENTURE:KXL)(FRANKFURT:KX3) is pleased to announce results from its core sampling program at its 100% owned Magino Mine project in Ontario. Kodiak and its predecessor at Magino, Golden Goose Resources (now a wholly owned subsidiary of Kodiak) have been systematically sampling previously unassayed sections of core from Golden Goose's 2006 drilling campaign. Because Golden Goose was focused on high grade, underground-minable gold mineralization, only visually mineralized structures were sampled, leaving thick intervals of disseminated gold mineralization unsampled and unassayed. To date, Kodiak has split and sampled over 2,800 metres of core from fifteen drill holes. Highlights from the first five drill holes (06-11 through 06-15) include:



-- 114.0 metres grading 1.84 gpt gold in drill hole 06-15
-- 53.4 metres grading 2.43 gpt gold in drill hole 06-14
-- 63.0 metres grading 1.40 gpt gold in drill hole 06-12
-- 72.7 metres grading 1.19 gpt gold in drill hole 06-13



Complete results for drill holes 06-11 through 06-15 are shown in the table below. Golden Goose previously announced the results of their limited "spot" sampling in a press release dated August 1, 2006.



Gold Grade (gpt,
Drill Hole From (m) To (m) Interval (m) capped at 40gpt)
--------------------------------------------------------------------------
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, President and Chief Executive Officer

This release may contain forward-looking statements or statements that relate to programs that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

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.

Kodiak Exploration Limited President and Chief Executive Officer 1-604-688-9006 1-604-688-9029 (FAX) [e-mail]
http://www.kodiakexp.com

[NYBob]

Kodiak and Golden Goose Close Business Combination
12/16/2010 3:40 PM - Canada NewsWire

VANCOUVER and MONTREAL, Dec. 16, 2010 (Canada NewsWire via COMTEX News Network) --

TSX.V KXL

Kodiak Exploration Limited (TSX-V: KXL, "Kodiak") and Golden Goose Resources Inc. (TSX-V: 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 Qu?bec (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. Maher President and Chief Executive Officer, Kodiak Exploration Limited

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

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.

To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/December2010/16/c6005.html

SOURCE: GOLDEN GOOSE RESOURCES INC.