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Kodiak Intersects 5.4 metres Grading 20.03 gpt (0.58 opt) Gold, 2009 Drill Program Commenced

12:15 EST Thursday, January 22, 2009

FSC / Press Release

Kodiak Intersects 5.4 metres Grading 20.03 gpt (0.58 opt) Gold, 2009 Drill Program Commenced

Vancouver, British Columbia CANADA, January 22, 2009 /FSC/ - Kodiak Exploration Limited (KXL - TSX Venture, KXLAF - OTCBB_Pink_Sheets, KX3 - FWB), is pleased to report on the successful conclusion of its 2008 exploration program. Drilling was successful in significantly expanding the area of high grade gold mineralization. Highlights of assays from the final batch of 2008 drill holes from Kodiak's Hercules project include the following high grade intercepts:

* Hole HR08-312: 5.4 metres grading 20.03 gpt gold (0.58 opt), including 0.4 metres grading 253 gpt gold (7.38 opt) with visible gold
* Hole HR08-308: 6.3 metres grading 6.89 gpt gold (0.20 opt), including 0.3 metres grading 53.80 gpt gold (1.57 opt) with visible gold
* Hole HR08-305: 2.3 metres grading 10.11 gpt gold (0.30 opt), including 0.6 metres grading 30.20 gpt gold (0.88 opt);
* Hole HRO8-192: 0.4 metres grading 75.3 gpt (2.20 opt) gold
* Hole HRO8-171: 1.3 metres grading 17 gpt (0.50 opt) gold

Highlights in Detail:

* Exploratory Drill hole HR08-305 successfully intersected a zone of high grade gold, 2.3 metres grading 10.11 gpt gold (0.30 opt), including 0.6 metres grading 30.20 gpt gold (0.88 opt), and containing visible gold, thus expanding the high grade Area 51 mineralized shoot to the west an additional 60 metres. This suggests that high grade gold mineralization in Area 51 extends further in a westerly direction and remains open. HR08-305 targeted an area that had previously been modeled as a lower grade "halo" to the high grade shoot, but had not been drilled. This drill hole demonstrates that focused drilling in the halo can discover new high grade zones and expand known mineralized shoots (see Figure One and Two below). This drill hole connects high grade mineralization seen in drill hole HR07-65 with that identified in previously announced drill hole HR08-192 (0.4 metres grading 75.30 gpt gold) and expands the tonnage and geometry of this high grade shoot. Additional drilling is planned to expand this gold shoot's geometry and resource potential.

* Follow-up drilling in the vicinity of drill hole HR07-65 was very successful in demonstrating the reproducibility of high grade mineralization within the previously modeled portion of the Area 51 shoot: Hole HR08-312 intersected 5.4 metres grading 20.03 gpt gold (0.58 opt), including 0.4 metres grading 253 gpt gold (7.38 opt), and HR08-308 intersected 6.3 metres grading 6.89 gpt gold (0.20 opt), including 0.3 metres grading 53.80 gpt gold (1.57 opt). Both holes contained visible gold. These drill holes were among the first holes drilled in anticipation of the 2009 program, which is being designed to expand and verify the continuity of the high grade gold shoot in Area 51. This series of drill holes is specifically directed at obtaining the data required for preparation of a resource estimate. The objectives is to increase the number of high grade intercepts within the high grade portions of the shoot, increasing the capping grade of that shoot and thus increasing the overall resource potential.

* Exploratory deep drill hole HR08-297 was successful in intersecting gold mineralization grading up to 3.49 gpt (0.10 opt) in the Lucky Strike and the Golden Mile structural zones at great depths: 790 metres down hole for the Lucky Strike and 1030 metres (over 1 km) down hole for the Golden Mile, both zones remain open. These intercepts are believed to be part of an envelope or halo of lower grade gold mineralization such as the halos that frequently occur adjacent to higher grade gold mineralization in shallower parts of the same system. These drill holes demonstrate that both the Golden Mile and Lucky Strike structures have very deep roots, which are critical to building a significant tonnage and resource and suggests high grade gold mineralization extends to depth.

Kodiak Exploration Ltd. received the Ontario Discovery of the Year Award in April, 2008. Our success was a multifaceted effort achieved with strong management, a skilled team of geologists and dedicated field technicians. Significant milestones include:

* 242 diamond drill holes have been completed on the Golden Mile, with 92 of those drill holes (38%) returning intercepts greater than 3 gpt gold;
* Almost 1/3 (30.4%) of the 217 drill holes in the central Golden Mile returned greater than 7 gram*metres of gold mineralization, and 37 of those drill holes returned greater than 10gram*metres of gold mineralization, a high grade "hit ratio" of 17%, or approximately 1 in 5 holes;
* Drilling intersected high grade gold 270 metres (900 ft) down-hole, 1.3 metres grading 17 gpt (0.50 opt gold)
* Drilling has traced gold mineralization to down-hole depths in excess of 1 kilometre; a 10 fold increase from 2007, and the system remains open at depth. Drilling and surface exploration has been successful in increasing the indicated strike length of the Golden Mile to more than 8 kilometres, a four fold increase from 2007, and the system remains open along strike
* Drilling has identified 5 new high grade gold shoots;

Kodiak will resume drilling in late January 2009, initially focusing on expanding the five high grade gold shoots discovered to date in the Golden Mile vein system. As noted above, the first portion of the 2009 program is being designed to define the extent and grade of high grade shoots and thereby grow their resource potential. Data derived from the 2008 program will mitigate risk and focus the next phase of drilling, which will include wedging off the HR08-297 "mother" hole at depth to pick up the high grade gold shoots identified higher in the system.

The balance of the 2009 program will be primarily directed at exploring the untested five kilometres of strike length between the Central Golden Mile and the claim boundary near Sage Gold's new discovery to the northwest. Data compilation, analysis and interpretation are under way. Final results from Kodiak's metallurgical testing program are also expected shortly and will be reported when received

Hercules drill hole highlights are shown below. All assays for drill holes HR09-270 through HR08-312 can be found on Kodiak's website: www.kodiakexp.com.

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Hercules drill hole highlight table: Location key: GM = Golden Mile

  HOLE ID   FROM     TO   INTERCEPT   GOLD    GOLD   ZONE      TD
           METRES  METRES   METRES    G/T     O/T            METRES
 HR08-288  169.4    169.6     0.2     1.05    0.03    GM     185.7
           174.2    177.0     2.8     2.74    0.08
 Including 175.7    176.0     0.3    13.60    0.40
 HR08-290   14.2     14.7     0.5     1.72    0.05    GM      53.0
            15.9     16.5     0.6    10.30    0.30
 HR08-305  132.4    134.7     2.3    10.11    0.29    GM     177.0
 Including 134.1    134.7     0.6    30.20    0.88
 HR08-308   61.0     62.0     1.0     4.71    0.14    GM     101.0
            65.0     65.8     0.8     1.37    0.04
            67.0     73.3     6.3     6.89    0.20
 Including  72.6     72.9     0.3    53.80    1.57
 HR08-311   59.8     60.8     1.0     1.85    0.05    GM      81.0
            69.4     71.8     2.4    12.88    0.38
 Including  70.8     71.2     0.4    32.10    0.94
 HR08-312   79.8     85.2     5.4    20.03    0.58    GM     101.0
 Including  84.2     84.6     0.4   253.00    7.38

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Figure One: Inclined Long Section, Central Portion of the Golden Mile vein system, Hercules Project showing contoured grade thickness intervals in gram*metres. The new deep intercept is in the central portion of the section. Note also the continuity of higher grades at depth and the periodicity of gold mineralized shoots. Six westerly raking ore shoots are shown by the red lines. The system remains open along strike and at depth in the area between deep drill HR08-297 and the shallower drilling above. Circle shows area of detailed view, Area 51, Figure Two, below.

To view Figure One, click on the link below or paste the link into your browser:

http://www.usetdas.com/images/kodiak...

Figure Two: Detailed view of Area 51 of the Inclined Long Section, Central Portion of the Golden Mile vein system, Hercules Project showing contoured grade thickness intervals in gram*metres. Systematic drilling has started to demonstrate the reproducibility of high grade gold intercepts, with 5 out of 6 drill holes intersecting in excess of 35.7 gram*metre gold (3.4 ounce*feet). Also note how drill hole HR08-305 extends the high grade zone to the west. The colour coding legend for grades of mineralization is the same as in Figure One. Each grid block is 60 metres in a horizontal direction and 50 metres vertically.

To view Figure Two, click on the link below or paste the link into your browser:

http://www.usetdas.com/images/kodiak...

Copies of the new long section, new maps, and photos may be found in the "What's New" section of Kodiak's web site: www.kodiakexp.com.

2008 Final Results from Maki Midas and Kaby Lake Projects:

Kodiak has also received positive results from the reconnaissance drill programs at its Maki Midas and Kaby Lake projects, individual assays range up to 9.25 gpt gold (0.27 opt) over 0.4 metres from Maki and up to 7.35 gpt gold (0.21 opt) over 0.4 metres from the Gold Rush Zone at Kaby Lake. Over 1000 metres of strike length remains to be explored on the Kaby Lake intrusion, a geologic look alike to the Elmhurst Lake intrusion which hosts the Golden Mile discovery.

Gold mineralization was confirmed by drilling over a strike length of 1.5 kilometres at Maki Midas, and reconnaissance sampling and mapping have documented an additional 3.5 kilometres of strike potential along this major, regional, gold bearing structure. This geological setting is very similar to that found at the historic multi million ounce MacLeod -Cockshutt mine located 30 km to the east, the focus of Premier Gold's recently announced 2009 drill program. Additional exploration and focused drilling is planned for these and Kodiak's many other previously reported discoveries in a focused phase two 2009 exploration program.

Beardmore-Geraldton Regional Exploration, Significant Achievements 2008:

* 112 diamond drill holes totaling 20,295 metres; 38 drill holes have intercepts greater than 3 gpt gold (34%);
* Strong exploration potential has been confirmed by drilling at 5 stand alone new gold discoveries with phase 2 drilling planned: East Leitch, Maki Midas, Kaby Lake Gold Rush, West Geraldton- Big Bonanza, and Sturgeon Bridge-Caviar;
* Regional exploration, data compilation and field work continues to generate new targets for the project pipeline.

Management's Analysis

Mr. Brian Maher, Kodiak Vice President of Exploration, comments: "These results for Hercules achieve two important goals for Kodiak: verifying the presence and strength of the Golden Mile and Lucky Strike gold mineralized systems at great depth and verifying the reproducibility and continuity of gold mineralization within the higher grade portions of the system. Building the intercept population set within the high grade portions of the system is vital step in developing a geostatistical model for the high grade zones. Geostatistical models are crucial in establishing a capping grade for the system and determining variography with these mineralized shoots. This data is required for the preparation of a resource estimate for Hercules. Coupled with the metallurgical studies currently under way, we are taking the initial steps to demonstrate the economic viability of the Golden Mile under various potential mining scenarios. Building on the success of our 2008 exploration program at Hercules, as well as our regional exploration program at East Leitch, Sturgeon Bridge, Big Bonanza, Maki Midas and elsewhere in the Beardmore-Geraldton gold belt, Kodiak's geologic team is looking forward with great anticipation to the 2009 exploration program.

Mr. Bill Chornobay, Kodiak President, comments: "A low-risk, focused, multi-million dollar drill program is planned for 2009. With Kodiak's strong cash position, we are well positioned to execute and achieve both our short-term and long-term goals for the Hercules Project and the balance of the Beardmore-Geraldton gold belt. Our exploration program continues to be focused in one of the premier exploration areas in the world, with excellent infrastructure and political stability. We enjoy strong support from local stakeholders and the government. We are well positioned to seize opportunities that may present themselves as a result of these difficult economic times. Kodiak is preserving its capital by operating at optimum efficiency and is focused on discovery to ensure we maximize value for our shareholders. With a strong gold market forecast, we are in an excellent position to grow shareholder wealth in the months and years ahead".

Technical Information

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 20 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. 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 Activation Laboratories Ltd., Ancaster, ON L9G 4V5 and TSL Laboratories Inc., Saskatoon, SK S7K 6A4. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. Screened metallic assays are routinely run on all anomalous gold results as a check on nugget effects. Samples are routinely sent to other labs for additional checks.

The geological information contained in this news release has been reviewed and approved by Robert B. Hawkins, Kodiak's Chief Geologist, who is a qualified person under the definitions established by National Instrument 43-101.

Energy Division Update

The winter exploration program at Kodiak's West Millennium project in the Athabasca Basin of northern Saskatchewan has commenced. Crews are currently conducting a TDEM (Time Domain Electromagnetic) ground geophysical survey to further refine targets for a minimum of 4,000 metres of diamond drilling planned to commence the first week of February, 2009. The Energy Division exploration team is led by Keith Metcalfe and includes consultants Paul Ogryzlo and Rodney Koch, giving Kodiak one of the strongest technical teams in uranium exploration. More information about the West Millennium Project and our very qualified technical team can be found on Kodiak's web site: www.kodiakexp.com

Assay results have been received that confirm uranium mineralization at the previously announced Big Bang discovery at Kodiak's UR East Property, in the Otish Mountains of Northern Quebec. Individual grab samples from the discovery outcrop contained up 8,130 ppm U (0.96% U3O8, sample 792062), which is comparable to field spectrometer results. Surface exploration and drilling for the 2009 field season is currently being planned to follow up this important new discovery in a newly emerging uranium district. The company hopes to be well positioned to take advantage of the strong uranium market forecast for the years ahead.

Kodiak is a mineral exploration company with properties located in Canada. You can now view an interactive map, as well as additional photographs, geological details and additional information, on our Web site: www.kodiakexp.com.

On behalf of the Board of Directors
William S. Chornobay
President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The statements made in this release may contain forward-looking statements or 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.

Source: Kodiak Exploration Limited (TSX-V: KXL) http:.//www.kodiakexp.com
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