wierd ticking, knocking noise

does this only happen in neutral when the bike is idling with the clutch lever release and it goes away with the lever pulled in?

or is this an all the time type thing.

 

Those noises from exhaust leaks are down-right scary. They sound (and almost feel; too) like a Big End Bearing has spun.

An easy way to test for an Exhaust Leak is to tape a small "Flag" of Paper Towel to the end of a Probe.

Probe around the Exhaust Collars and watch for the Flag to flutter if there's a leak.
Sometimes, the Exhaust Flange Donuts will just need to be reseated and the Collar tightened.
Those Donuts can be "Saved" if they're not burned-through. Spray them with Permatex High-Tack Spray-A-Gasket (2-Coats) ... and, then ... shoot some of the spray into a Tuna Can and "Paint" a coat on the Gasket Seat.

When everything's really sticky and ready to be tightened ... tighten the Collar evenly and the Permatex will seal-up the leak.

This job is a 8 on the 0 -to- 10 scale of Messy.
Gloves won't help.
The fingers stick together.

Just shoot some Carb Cleaner into a rag to help get the stuff off where you don't want it.
If you get it on Clothes ... it's there for ever!