"Many parts of the website, namely 'Hercules' section (i.e. Headline: "Hercules Gold Property – 60,000 m Drilling Program Commenced"), have not been updated for months now. Do not understand why a company like Kodiak would not ba able to keep website current."

Take this back now... Hercules narrative section now updated. Someone is alive at KXL. Kidding. LOL

red911

Hercules Gold Property

Kodiak’s Hercules Property is located approximately 120 kilometres northeast of Thunder Bay, in Ontario’s historic Beardmore-Geraldton Gold Camp (4.1 million ounces production to date). The property is road accessible and close to infrastructure. At Hercules, high grade gold has been found in multiple quartz-carbonate veins that cut through the 31 square kilometre Elmhirst Lake Intrusion and adjacent metavolcanic rocks. Surface stripping since 2006 has exposed several massive gold-bearing structures consisting of vein and stockwork systems that have a combined strike length of more than 6 kilometres. Individual veins are up to 3 kilometres long and 9 metres wide, enclosed within a wide envelope of intensely sheared and altered wall rock. The gold-mineralized structures remain open in all directions, and display many of the characteristics of other Archean gold deposits, which together account for two thirds of Canada’s gold production.

The Golden Mile, the principal vein at Kodiak’s Hercules Project, is a large quartz vein system with visible gold and sulphides exposed on surface along a three kilometre strike that remains open. Continuous gold mineralization was initially traced on surface for more than 400 metres, and channel samples taken every 20 metres along this zone had an average grade of 20.2 gpt Au over an average width of 3.8 metres. Systematic resource delineation drilling has so far outlined at least three parallel high grade zones with a northwest plunge, within an envelope of lower grade gold mineralization.

The high grade zone that forms the central part of the Golden Mile has returned intersections as high as 515.98 gpt Au over 2.5 metres, including 63.67 gpt Au over 0.3 metres in HR08-51, and a high grade zone to the east returned 16.98 gpt Au over 1.3 m, including 63.67 gpt Au over 3 m in hole HR08-171. The continuity of gold mineralization has now been confirmed to a downhole depth of almost 600 metres, and the vein remains open below that.

Infill drilling continues to intersect high grades as well, with 9.3 m grading 14.78 gpt Au including 3.3 m grading 32.22 gpt Au in HR08-161. Drilling at the east end of the Golden Mile has discovered a very large body of gold mineralization that is open to depth. All zones remain open to depth.

Recent step-out drilling and trenching have discovered an extension of the Golden Mile 1 km along strike to the northwest, on the other side of a lake recently named the Golden Pond. This zone confirms a 50% increase in the strike length of the Golden Mile since the last report, and the system remains open for another four km to Kodiak's claim boundary. Trenching and mapping is in progress and will be completed during the 2009 field season. A high grade vein discovered by Sage Gold on trend with the Golden Mile structural zone further to the northwest indicates that the Golden Mile structural zone extends for at least nine km, over nine km of which remain undrilled. These results underscore the tremendous untapped gold potential of the Golden Mile vein system.

In addition to the Golden Mile, other strong veins, including the parallel Marino, Seven of Nine, Yellow Brick Road and WL veins about 1 km northeast of the Golden Mile, have been uncovered by trenching over a collective strike length of 3 kilometres. These veins also frequently contain visible gold and sulphides. Significant drill intersections include 38.47 gpt Au over a downhole width of 1.6 metres at Marino (HR07-16), 12.85 gpt Au over 1.1 m including 0.3 m grading 53.24 gpt Au at Seven of Nine (HR08-113) and 15.59 gpt Au over a true width of 9.7 metres (including 51.65 gpt Au over 2.83 metres) at WL (HR07-03). Drill hole HR08-145 was successful in extending the high grade WL zone down plunge, where it intersected 3.3 m grading 22.26 gpt Au, including 0.8 m grading 90 gpt Au.

The Lucky Strike vein was discovered 200 m west of the Golden Mile vein during the course of step-back drilling along the central part of the Golden Mile. It was intersected at a depth of 38.5 metres and contains visible gold within a two metre vein width in drill core. Further drilling on this structure has outlined a broad zone of gold mineralization that graded 1.2 gpt Au over 41 metres in hole HR08-137. The Lucky Strike and Golden Mile structures appear to converge at depth, suggesting a potential high grade target where they intersect, and a wedge-shaped region of shallow, bulk-mineable mineralization above.

All of these veins remain open, and other newly discovered veins within the 30 square kilometre Elmhirst Lake intrusion remain to be drill tested. Within the Elmhirst Lake intrusion, which hosts these mineralized veins, 30 kilometres of multiple parallel structures remain largely unexplored. Results to date demonstrate that the intrusion has strong potential to host additional new gold discoveries.

During 2008, 344 diamond drill holes totaling 82,172 metres were completed at Hercules and at Beardmore-Geraldton regional targets. Deep drilling at Hercules continued to intersect mineralized quartz veins, which display wide haloes of sericite-chlorite-carbonate alteration, silicification, as well as hematite "soaking" in the footwall and hanging wall to the main structure. These zones of alteration can be up to 35 metres in thickness. Gold continues to be intersected to a downhole depth of 600 metres. Drilling by Kodiak has defined at least two distinct shoots of gold mineralization. These shoots have a regular geometry and periodicity, i.e. higher grade zones appear to occur at regular intervals along strike. This information helps guide further drilling and targeting of high grade gold mineralization.

Drilling during the first quarter of 2009 at Hercules included 28 drill holes totaling 5,860 metres. Highlights of the drilling program include drill hole HR09-328 which intercepted 2.4 metres grading 11.2 gpt gold (0.33 opt gold) including 0.4 metres grading 45.4 gpt gold (1.32 opt gold). Drill hole HR09-333, drilled at the eastern end of the Golden Mile, cut 1.0 m grading 10.72 gpt gold (0.31 opt), including 0.7 m grading 14.80 gpt gold (0.43 opt). This drill hole was collared in the footwall of the Golden Mile vein system near previously announced drill hole HR07-29 (54.1 gpt (1.57 opt) gold over 2.0m, including 134.4 gpt (3.9 opt) gold over 0.8m) and extends high grade gold mineralization into a new, deeper part of the system.

Also in the first quarter of 2009, Kodiak released the results of metallurgical testing performed on three composite surface and drill hole bulk samples from the Golden Mile vein system at the Hercules Project in the Beardmore-Geraldton gold camp in western Ontario. These test results show an average gold recovery of greater than 99% from the three +10 kg samples. The test work was preformed by SGS Lakefield Research Ltd., Lakefield, Ontario (“Lakefield”) In the Conclusions and Recommendations prepared by Lakefield, they state “The cyanidation of gravity tails yielded an excellent response with greater than 99% of the gold being recovered/extracted in the gravity + cyanidation flow sheet”. Lakefield further states “Process mineralogy should be considered for further characterization of gold occurrence”. . Based on these tests, it is apparent that Golden Mile mineralization will be amenable to low-cost conventional milling techniques. As the company moves forward with the economic evaluation of the Hercules project, these results help answer vital questions about gold distribution in the system. Kodiak will use this information to determine locations and methodologies for potential surface and underground bulk sampling, an important step in evaluating the ultimate minability of the deposit.

In April, 2009 Kodiak released a National Instrument 43-101 compliant Technical Assessment of the company’s Hercules Project located in the Beardmore-Geraldton gold belt of western Ontario. The report by InnovExplo, a well-respected mining and geology consulting company based in Val d’ Or, Quebec, concludes that “the property contains a significant potential for new discoveries. The mineralized hydrothermal system is quite large, and additional work on the property could lead to a Mineral Resource Estimate.” InnovExplo goes on to recommend a multi phase diamond drilling program, a portion of which has already been completed by Kodiak. The results and conclusions of the Technical Assessment confirms the significance of the Golden Mile discovery and validates the methodology, QA-QC procedures and the technical merits of the work done to date at Hercules. The report is an important milestone as the Hercules project moves along the development time line, providing third party documentation of progress to date.

This information has been reviewed and approved by Robert B. Hawkins, Kodiak Chief Geologist, who is a qualified person for the Hercules project under the definitions established by National Instrument 43-101.