Kodiak Exploration Limited

Kodiak Exploration Limited

January 08, 2008 14:36 ET

Kodiak Drills 5.3m Grading 1.51% Ni and 0.44% Cu at Its New Sleeping Giant Base Metal Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2008) - Kodiak Exploration Limited (TSX VENTURE:KXL)(FRANKFURT:KX3) is pleased to announce that it has discovered a significant new zone of nickelcopper mineralization at its new Sleeping Giant discovery. The Sleeping Giant has direct all weather road access and is located on Kodiak's 100% controlled claims in the Geraldton/Beardmore camp. Drill hole HR07-01 intersected a significant zone of nickel-copper sulphides: 27.1 metres grading 0.49% Ni and 0.24% Cu (50.2-77.3m), including 5.3 metres grading 1.51% Ni and 0.44% Cu (71.7-77.0m). These intercepts include encouraging precious metal mineralization of 0.5m grading 1.40 g/t Au, 0.85 g/t Pt and 0.17 g/t Pd (50.2-50.7m), and 1.2m grading 0.15 g/t Pt and 0.10 g/t Pd (71.7-72.9m). The significant width and grade of mineralization at the Sleeping Giant, combined with large geophysical anomalies, suggest it is part of a much larger base metal system.

The Sleeping Giant zone extends for at least 200 metres along strike and is open in all directions. The mineralized zone is associated with series of geophysical anomallies that extend for a strike length of at least three kilometres, indicating the system is much more extensive. Mineralization occurs in a gabbro/gabbroic komatiite body that hosts disseminated, semi-massive to massive sulphides consisting of pyrrhotite, chalcopyrite, pyrite, and possibly chromite.

From To Width (m) Cu (%) Ni (%) Cr2O3 (%) Co (%)
50.2 50.7 0.5 0.97 1.31 0.052 0.04
50.2 77.3 27.1 0.24 0.49 0.045 0.02
Incl. 71.7 77.0 5.3 0.44 1.51 0.047 0.04
Incl. 71.7 74.0 2.3 0.65 2.21 0.041 0.06
Incl. 71.7 72.9 1.2 0.76 2.78 0.039 0.075

The discovery of the Sleeping Giant is the result of surface exploration program consisting of ground geophysics, compilation of data from previous shallow drilling and follow-up reconnaissance drilling. Recent assays have confirmed the significance of this Ni-Cu zone that remains open both to depth and along strike. Kodiak plans to perform approximately 65 km of line-cutting followed by ground UTEM and magnetic surveys as well as bore-hole geophysics in order to outline the full extent of conductors that would indicate sulphide targets in preparation for additional drilling. The discovery of the Sleeping Giant zone with ready access to infrastructure adds a significant new asset to the company's base metal division. This fits well with the company's strategy to aggressively grow three separate divisions: precious metals, base metals, and uranium.

Kodiak expects to receive drill results from the Golden Mile in the immediate future. When assays are received, the results will be promptly released.

Kodiak QA/QC procedures are as follows: Sample intervals are selected according to geologic contacts and visible mineralization, placed into a sample bag, and shipped to the assay lab for quantitative analysis of select elements. Kodiak drill cores are split down the center with a typical table feed circular rock saw. Sample intervals are selected according to geologic contacts, visible mineralization, and alteration, placed into sample bags and shipped to the assay lab where they are quantitatively analyzed for select elements. Drill cores are boxed, covered, and sealed at the drill rig and moved to the Kodiak logging and sample preparation facilities by Kodiak personnel. Kodiak angle core holes are directed perpendicular to the mapped dip of the vein therefore reported drill hole intercepts approximate true thickness of the vein. All Kodiak samples are currently being assayed by TSL Laboratories Inc., Saskatoon, SK S7K 6A4. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. Samples are routinely sent to other labs for additional checks.

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

The statements made in this release may contain forward-looking statements or relate to programs that involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

To view attached map please click on the following link: http://www.ccnmatthews.com/docs/kxl0108.pdf

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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