Drilling Program At The MPD Copper-Gold Project

VANCOUVER - Kodiak Copper Corp. reported on the drill program at its MPD copper-gold porphyry project in southern British Columbia.

Claudia Tornquist, President and CEO said, "A key focus of Kodiak's 2024 drill program was to identify additional near-surface and high-grade mineralization, and drill results from the Adit Zone to date have clearly achieved this. The holes reported in this news release significantly extend the copper envelope at Adit and when combined with historic drilling, Kodiak's new results have outlined a sizeable near-surface, high-grade area of mineralization which bodes well for future economic potential. In addition to the Gate and West Zones, Adit is developing into a third substantial high-grade zone at MPD, marking an important advancement for the project. Adit remains open in multiple directions, and we are looking forward to further drill results from this zone as well as from other targets over the remainder of 2024 and into 2025."

The Company's holes reported to date at the Adit Zone targeted broad, coincident 3D IP chargeability and copper-in-soil anomalies. The anomalies are located at the northern end of a geophysical-geochemical trend west of the Summers Creek fault that links the Adit, Mid and South Zones, and suggests these mineralized zones are part of a larger copper system. Shallow historic drilling at the Adit Zone identified mineralization over 300 metres of strike within a broader alteration zone characterised by supergene leaching and shallow (< 200 metre) copper oxides. Kodiak's current drilling has intersected significant copper sulphide mineralization beyond the oxide zone and fault structures previously thought to limit mineralization.

Drill holes AXE-24-009 and AXE-24-011 were drilled from the same set-up as AXE-24-007, but to the southeast and northeast, respectively. The holes were designed to extend the strike of mineralization at Adit, test below historic percussion holes that rarely exceeded 100 metres depth, and target copper-in-soil / 3D IP anomalies. Similar to AXE-24-007, holes AXE-24-009 and 011 have broad intervals (>300m) of Cu-Ag-Au (+/-Mo, Zn, Pb) mineralization with zones of higher grades noted in both oxide and sulphide facies.

The Celeste Target lies 600 metres north of the high-grade West Zone. Drilling evaluated a 700-metre-long copper-in-soil anomaly, anomalous prospecting samples from 2023, and a historic 3D-IP response.

Hole AXE-24-005 was drilled eastward across the copper-in-soil anomaly and encountered mostly volcanoclastic rocks with shallow but short intervals of skarn-type alteration. The hole ended in a strongly altered fault with trace mineralization from 234 metres to end of hole at 477 metres. Assays from hole AXE-24-005 were not significant. Hole AXE-24-006 was drilled southwest testing a high chargeability target from a second pad 600 metres east of AXE-24-005. This hole encountered mostly altered granodiorite with patchy pyrite and trace chalcopyrite but does not warrant assaying at this time.

Table 1: Weighted assay intervals for 2024 drill holes AXE-24-009 and AXE-24-011 (Adit Zone).