Kodiak Exploration Limited

Kodiak Exploration Limited

February 01, 2007 09:31 ET

Drilling Commenced at Kodiak's Caribou Nickel Prospect

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2007) - Kodiak Exploration Ltd. (TSX VENTURE:KXL) is pleased to report that Phase II drilling is now underway at Kodiak's 100% controlled Caribou Lake nickel-copper-cobalt-PGE prospect located 90 kilometres southeast of Yellowknife, Northwest Territories. The drilling will test the economic potential for nickel, copper and cobalt sulphides along the base of the intrusion, where high-resolution geophysical imaging has identified a number of structural traps, any one of which is large enough to host a significant nickel ore body.

Many of the Phase II targets lie beneath areas where abundant nickel, copper and cobalt sulphides were intersected in shallow Phase I drill holes, and where analysis of geophysical data has indicated numerous EM conductors.

The present drill program will test multiple targets generated through compilation and analysis of geological, geochemical and geophysical data by Kodiak's geological and geophysical team. This Phase II drill program is being conducted under the direct supervision of independent nickel specialist Dr. Walter Peredery, P. Geo. Kodiak looks forward to the results with great optimism.

Further information, including maps, drill sections and photographs, are available on Kodiak's web site at www.kodiakexp.com.

The information contained in this news release has been reviewed and approved by Dr. Walter Peredery, P. Geo., and Trevor Bremner, P. Geo., who are qualified persons for the Caribou Lake project under the definitions established by National Instrument 43-101. Dr. Peredery and Mr. Bremner are independent consultants to Kodiak.

On behalf of the Board of Directors


William S. Chornobay, Director, President

This release has been prepared by management - This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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