KNICK EXPLORATION ANNOUNCES REVISED TERMS OF PRIVATE PLACEMENT

(via Thenewswire.ca)

Val-d'Or, Quebec, December 4, 2009 - Knick Exploration Inc. (TSX-V: KNX) ("Knick" or the "Corporation") announced today that it is amending the terms of its previously announced non-brokered private placement seeking to raise a maximum of $2,312,500, the details of which were disclosed in Knick's press release issued on December 1, 2009. Knick is pleased to announce that the revised terms of the non-brokered private placement will now involve the sale of up to 3,333,333 units of Knick ("Units") priced at $0.30 each and up to 3,750,000 flow-through units of Knick ("FT Units") priced at $0.35 each. Each Unit is comprised of one non-flow-through common share and one-half a common share purchase warrant of Knick, with each whole warrant entitling the holder to purchase one additional common share of Knick at a price of $0.50 for a period of two years following the closing of the private placement. Each FT Unit is comprised of one flow-through common share and one-half a common share purchase warrant of Knick, with each whole warrant entitling the holder to purchase one additional common share of Knick at a price of $0.50 for a period of two years following the closing of the private placement.

All other terms and conditions of the private placement contained in Knick's press release issued on December 1, 2009 remain in effect.

Forward-Looking Statements

This press release includes forward-looking statements that are subject to risks and uncertainties. All statements herein, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own assessment of such risks and uncertainties.

FOR MORE INFORMATION, CONTACT:

Jacques Brunelle Jason Monaco

jbrunelle@knick.ca First Canadian Capital Corp.

President & CEO jmonaco@firstcanadiancapital.com

Knick Exploration Tel : 416-742-5600

536, 3rd Avenue Toll Free : 866-580-8891

Val-d'Or, Quebec J9P 1S4

(819) 874-5252

(819) 856-1387

Sean F. Budnik Daniel Boase

Investor Relations First Canadian Capital Corp.

Allyson Taylor Partners dboase@firstcanadiancapital.com

1155 René-Lévesque Blvd. W. Suite 2500 Tel: 416-742-5600

Montreal, Quebec H9B 2K4 Toll Free: 866-580-8891

(514) 397-0110

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts

Responsibility for the adequacy or accuracy of this release.

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