Kodiak Completes Phase One evaluation of the Milestone Project; Announces 10,000 Metre
Phase Two Drilling program
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.