Kodiak Exploration Limited

Kodiak Exploration Limited

October 10, 2007 14:37 ET

Kodiak Controls Dominant Land Position in Beardmore-Geraldton Gold Belt

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 10, 2007) - Kodiak Exploration Limited (TSX VENTURE:KXL) is pleased to announce that its ongoing land consolidation efforts have now made it the dominant landholder in the Beardmore-Geraldton gold camp of south central Ontario.

Kodiak selected the Beardmore-Geraldton greenstone belt as the focus of its gold exploration activities because of its production history, its well understood geology and the fact that it remains largely unexplored. In particular, there has been little to no deep drilling along major structures that have in the past produced 4.1 million ounces of gold from high grade deposits mined to depths of more than 1.5 km, and which remain open to depth.

For the past eighteen months, Kodiak has carried out extensive geologic research to identify the principal deformation zones and other structures that control the principal gold deposits in the belt, and has moved to acquire a strategic and controlling land position in those areas. By staking and by acquisition of options announced over the past several months, Kodiak has acquired a dominant land position that covers areas considered by Kodiak to encompass some of the most prospective gold bearing geologic structures in the belt.

Pursuant to two agreements signed yesterday, Kodiak has been granted options to acquire a 100% interest in a total of eight additional mineral claims in the Thunder Bay Mining Division from two different property owners. The first agreement provides for an option on six claims located in Irwin Township subject to a 3% net smelter returns royalty. Kodiak may exercise the option by making payments totaling $60,000 in cash over a three year period. Kodiak may purchase one-half of the royalty for $500,000 at any time, and may purchase the remaining one-half of the royalty for an additional $1,000,000. The second agreement provides for an option on two claims located in Walters and Leduc Townships subject to a 2% net smelter returns royalty. Kodiak may exercise the option by issuing shares with an aggregate value of $20,000 and making payments totaling $50,000 in cash over a three year period. Kodiak may purchase the entire royalty for $1,000,000 at any time. Both options are subject to acceptance by the TSX Venture Exchange.

The information contained in this news release has been reviewed and approved by Robert B. Hawkins, Kodiak's Chief Geologist, who is a qualified person under the definitions established by National Instrument 43-101.

Kodiak is a mineral exploration company with significant projects in three different sectors of the mining resource industry. Through regional, grass-roots generative exploration and new geological models the Company has built a portfolio of 100% controlled projects focused on gold, base metals (nickel/copper), and uranium in three different areas of Canada. Maps, photographs, detailed geologic reports and additional information may be viewed on our web site at www.kodiakexp.com.

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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