Complete release below.  This is HUGE news folks.  We are next.  Nothing but games this AM IMO. 

red911

Kodiak Exploration drills 3 m of 203 g/t Au at Hercules

2008-01-14 10:55 ET - News Release

Mr. William Chornobay reports

KODIAK DRILLS 2.9 M GRADING 203 GPT (5.92 OPT) GOLD / EXPANDS MAGNITUDE OF GOLDEN MILE DISCOVERY

Kodiak Exploration Ltd. continues to intersect very high-grade gold mineralization over minable widths and at greater depths on the Golden Mile quartz vein system, located on its 100-per-cent-controlled Hercules property.

Highlights from the most recent assay results include hole HR07-65, which intersected 2.9 metres of quartz vein grading 203 grams per tonne (5.92 ounce per ton) gold, including 0.3 metre grading 741 gpt (21.6 ounces per ton) gold, and hole HR07-48, which intersected two sections of quartz vein grading 11.4 gpt gold over 0.4 m intersection from 29.9 metres to 30.3 metres and 4.49 gpt Au over 0.7 metre from 18.6 metres to 19.3 metres downhole. Hole HR07-65 was drilled on strike 60 metres northwest of previously reported hole HR07-51, which intersected 3.6 metres grading 359 gpt (10.5 ounces per ton) gold. All assay results are set out in the table. The locations of the holes may be viewed on the map on Kodiak's website.

Drill hole HR07-65 has more than doubled the known depth extent of this high-grade gold shoot. This central gold zone in which holes HR07-65 and HR07-51 were drilled plunges to the northwest and remains open to depth. The gold mineralization now has a combined strike extent of more than 400 metres along the central Golden Mile, confirming the presence of a large, well-mineralized shoot. The overall Golden Mile gold mineralization is open both to depth and along strike, with an indicated strike length of more than four kilometres.

These drill holes are part of a 60,000-metre drill program designed to outline the full scale and geometry of this gold system. Every one of the company's 70 drill holes to date at the Hercules project has intersected gold mineralization, which is considered extremely unusual for Archean vein systems and confirms the strength, continuity and potential of this discovery.

Kodiak's 2008 drilling program will use at least three drill rigs and will focus on expanding the zones of known high-grade gold mineralization along the Golden Mile, both to depth as well as along strike. The current drilling will also test the economic potential along strike to the southeast of drill hole HR07-44 which intersected 2.9 metres grading 45.25 gpt gold, the gold mineralization remains open to the southeast along a large, one-kilometre section of the Golden Mile vein that has not been drilled. The drill program is planned to also test a series of large parallel gold-bearing veins which collectively extend for more than three kilometres and remain open in all directions. These veins include the Yellow Brick Road, WL and Marino, where previously reported drilling intersected 1.6 metres grading over 38 gpt gold on the Marino vein and 9.7 metres true width grading 15.59 gpt gold on the WL vein.

Brian J. Maher, vice-president, exploration, comments: "This recently completed phase of drilling has greatly expanded our geologic knowledge of the Golden Mile vein system and will allow us to target both the known zones of high-grade gold mineralization and newly identified zones with similar potential. The pinching and swelling of the vein along strike, as seen near hole HR07-40, is typical of this type of vein system. We are very pleased with the continuity of the system and with the discovery of new zones at both ends of the Golden Mile both of which remain open."

Mr. Maher continues: "Drilling at the most westerly extent of the mile intersected a previously unknown zone of gold mineralization, indicating the potential for a new high-grade shoot along strike to the northwest. At the far southeast end of the Golden Mile, previously reported hole HR07-29 intersected two metres of vein material grading 54 gpt gold, also indicating the presence of a new unexplored high-grade shoot that remains open to depth and along strike. In addition, magnetic data indicates a shallow intrusive near hole 29 which, in conjunction with highly elevated base metal geochemistry, indicates the potential for a significant source of gold mineralization near the southeast end of the Golden Mile. We now have multiple drill targets at both ends of the Golden Mile in addition to multiple drill targets in the central high-grade zone that are open to depth and along strike."

Bill Chornobay, Kodiak's president, adds: "These early results clearly demonstrate the potential of this prolific system. Two thousand eight promises to be a very exciting year for Kodiak and its shareholders. With more than $50-million in the bank and with 60,000 metres of drilling under way, we are looking forward with great enthusiasm to systematically revealing the full potential of this massive land package, and the steady flow of news that will result. The Hercules project is ideally situated in Ontario, which has an enviable mining history and a stable political environment. This project and surrounding area has ready access to a work force and infrastructure such as roads, rail and power. Kodiak's geological team and the board of directors are looking forward to the future with much anticipation."

With the addition of two new drill rigs and the ability to add more rigs as the program progresses, Kodiak plans to quickly expand known zones of gold mineralization and to test them both to depth and along strike. The gold-bearing Elmhurst intrusion, which hosts the Golden Mile, Yellow Brick Road, 7 of 9 and Marino discoveries amongst others, measures appproximately 30 square kilometres and remains largely unexplored. Airborne geophysics and the discovery of multiple gold-bearing veins within the intrusion indicate that it has tremendous potential to host significant additional gold-bearing structures.

As a result of an aggressive staking and acquisition program carried out over the past two years, Kodiak's holdings now cover approximately 1,400 square kilometres in the Geraldton-Beardmore gold camp, which has seen more than 4.1 million ounces of high-grade gold production and remains largely underexplored. Greenstone belts are host to over two-thirds of Canada's gold production and at least one-third of global gold production, and Kodiak now controls the lion's share of the Geraldton-Beardmore greenstone belt, encompassing numerous strong exploration targets that remain to be tested.

                   DRILLING HIGHLIGHTS

Hole ID      From       To  Intercept     Au       Au
               (m)      (m)      (m)    (g/t)   (oz/t)

HR07-40     132.7      133      0.3     2.48    0.072
HR07-42     100.8    101.3      0.5     1.92    0.056
            101.7    101.9      0.2     3.84    0.112
HR07-46        44     45.2      1.2     5.28    0.154
             55.3     55.5      0.2     2.24    0.065
HR07-47      27.1     27.9      0.8     2.37    0.069
             28.8     29.4      0.6     1.28    0.037
HR07-48      16.7     17.6      0.9     1.88    0.055
             18.6     19.3      0.7     4.49    0.131
             29.9     30.3      0.4    11.39    0.332
             34.6       35      0.4     1.38     0.04
             35.9     36.3      0.4     2.11    0.062
HR07-52      45.6     46.3      0.7     1.64    0.048
               59     59.5      0.5     3.09     0.09
             60.3     61.2      0.9     2.23    0.065
HR07-60      32.8     33.8        1     1.68    0.049
             34.8     35.3      0.5     3.22    0.094
             35.8     36.3      0.5     1.78    0.052
             37.2     38.5      1.3     1.76    0.051
             75.1     75.6      0.5     1.08    0.032
             75.9     76.4      0.5     1.07    0.031
               77     77.3      0.3     1.01    0.029
HR07-62      90.7     91.6      0.9     1.81    0.053
             92.9     93.4      0.5     2.35    0.069
HR07-63      53.6     53.8      0.2    16.02    0.467
             54.8     55.8        1     1.45    0.042
             57.7     58.2      0.5     3.77     0.11
             62.8     63.4      0.6     1.26    0.037
HR07-64      57.7     60.7        3     2.34    0.068
             61.3     62.1      0.8     3.35    0.098
HR07-65      76.1     77.7      1.6     1.53    0.045
             78.4     81.3      2.9   203.04    5.922
including    79.5     79.7      0.2     1699   49.555
             79.7       80      0.3    741.3   21.621
               80     80.6      0.6    29.46    0.859
HR07-67      89.4     89.7      0.3     2.11    0.062
HR07-70      87.2     88.5      1.3      2.3    0.067
             88.9     89.4      0.5     3.05    0.089

Drill holes HR07-37, 39, 45, 49, 53-59, 61, 66, 68, 69 intersected varying amounts of gold mineralization less than two gpt, further demonstrating the widespread nature and strength of gold mineralization within the Golden Mile vein system. All results can be found on the company's website along with a schematic long section.

Update on the uranium division

Samples taken during Kodiak's 2007 ground exploration program undertaken on its UR uranium prospect on the Otish basin of Quebec have been sent to the assay lab for analysis. Those results will be announced when they are received by the company.

We seek Safe Harbor.