Vancouver, British Columbia, May 5, 2010. Kodiak Exploration Limited is pleased to announce the

completion of its Phase One drilling program at its Milestone gold project at the eastern end of the

Beardmore-Geraldton gold belt. The 5,500 metre Phase One drilling program has outlined a large zone of

potentially bulk-minable gold mineralization that remains open along strike and at depth. The large size

of this system with a strike length of at least 2,500 metres, the consistent gold grades encountered in

diamond drilling, and a recently identified higher grade zone of gold mineralization has prompted the

company to undertake a 10,000 metre Phase Two exploration program. The Phase Two exploration

program will consist of surface evaluation (prospecting, geophysical surveys, mapping, and trenching)

along the Pag shear zone and parallel structural trends, continued wide spaced drilling to evaluate the gold

system on strike and at depth, and infill drilling to further define the currently known higher grade portion

of the mineralized system. The attached map highlights a portion of the anticipated Phase Two drilling.