announce that its ongoing land consolidation efforts have now made it the dominant landholder

in the Beardmore-Geraldton gold camp of south central Ontario.

Kodiak selected the Beardmore-Geraldton greenstone belt as the focus of its gold exploration

activities because of its production history, its well understood geology and the fact that it

remains largely unexplored. In particular, there has been little to no deep drilling along major

structures that have in the past produced 4.1 million ounces of gold from high grade deposits

mined to depths of more than 1.5 km, and which remain open to depth.

For the past eighteen months, Kodiak has carried out extensive geologic research to identify the

principal deformation zones and other structures that control the principal gold deposits in the

belt, and has moved to acquire a strategic and controlling land position in those areas. By

staking and by acquisition of options announced over the past several months, Kodiak has

acquired a dominant land position that covers areas considered by Kodiak to encompass some of

the most prospective gold bearing geologic structures in the belt.

Pursuant to two agreements signed yesterday, Kodiak has been granted options to acquire a

100% interest in a total of eight additional mineral claims in the Thunder Bay Mining Division

from two different property owners. The first agreement provides for an option on six claims

located in Irwin Township subject to a 3% net smelter returns royalty. Kodiak may exercise the

option by making payments totaling $60,000 in cash over a three year period. Kodiak may

purchase one-half of the royalty for $500,000 at any time, and may purchase the remaining onehalf

of the royalty for an additional $1,000,000. The second agreement provides for an option on

two claims located in Walters and Leduc Townships subject to a 2% net smelter returns royalty.

Kodiak may exercise the option by issuing shares with an aggregate value of $20,000 and

making payments totaling $50,000 in cash over a three year period. Kodiak may purchase the

entire royalty for $1,000,000 at any time. Both options are subject to acceptance by the TSX

Venture Exchange.

The 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.

Kodiak is a mineral exploration company with significant projects in three different sectors of

the mining resource industry. Through regional, grass-roots generative exploration and new

geological models the Company has built a portfolio of 100% controlled projects focused on

gold, base metals (nickel/copper), and uranium in three different areas of Canada. Maps,

photographs, detailed geologic reports and additional information may be viewed on our web site

On behalf of the Board of Directors

(604) 688-9006 or by email at info@kodiakexp.com