Kodiak Exploration Limited

Kodiak Exploration Limited

January 29, 2010 13:22 ET

Kodiak Announces 5,600 Metre Drill Program at Hercules and West Geraldton in the Beardmore-Geraldton Gold Camp

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2010) - Kodiak Exploration Limited (TSX VENTURE:KXL)(FRANKFURT:KX3) is pleased to announce that it has commenced a 5,600 metre winter diamond drilling program at its Hercules and West Geraldton Properties in the Beardmore-Geraldton Gold Camp of western Ontario. One phase of the drill program will consist of 3,600 metres of diamond drilling at the Hercules project focusing on five distinct target areas: The Golden Mile under Golden Pond, the Lucky Strike vein, the Bobby Ore vein, newly recognized potential vein structures west of the Marino vein and a series of unexplored veins along the Kinghorn road. Drilling on Golden Pond (shown below) is dependent upon the ability to make and sustain a proper amount of ice during the winter months. Work has been ongoing since early January and dependent upon weather, there should be enough ice to support a drill rig by the middle of February. Eight drill holes are aligned in a drill fence designed to test for all possible extensions of the Golden Mile structure underneath Golden Pond. Drilling in the Lucky Strike area is aimed at potential higher grade dilatant zones that may exist at bends in the structure. The best grades along the Lucky Strike are found in the bend just west of the central northeast-southwest trench (see below). Drilling along the Bobby Ore vein system will test an eastward extension of the vein.

Note: To view the figure associated with this release, please click the following link: http://media3.marketwire.com/docs/kxl0129.pdf

The other phase of the program consists of 2,000 metres of diamond drilling planned for the West Geraldton project to follow-up previously announced successful drilling in 2009. Drilling will concentrate on the eastern extension of the Portage Shear, an area difficult to drill during the summer months due to extensive swamps. The drill rig will begin work at West Geraldton this week and then move to the Golden Pond target area when the initial program is completed and sufficient ice has formed on Golden Pond.

Details for upcoming drilling and exploration Kaby Lake, Brenbar and Sturgeon Bridge will be announced soon. The geological information for the Beardmore-Geraldton regional exploration project has been reviewed and approved by Darren Lindsay, P. Geo., Kodiak's Vice President-Exploration, who is a qualified person under the definitions established by National Instrument 43-101.

Kodiak QA/QC procedures are as follows: Kodiak channel samples are 5 cm wide cut perpendicular to the strike of the vein and/or shear zone from mapped alteration in the footwall continuously through the vein and/or shear zone and into mapped alteration in the hanging wall. Channels are cut with a motorized circular saw to a depth of 20 cm and removed with a hammer. Channel sample spacing is nominally every 20m along strike, dependent on outcrop size and geometry. 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 Activation Laboratories Ltd., Ancaster, ON L9G 4V5 and TSL Laboratories Inc., Saskatoon, SK S7K 6A4. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. Screened metallic assays are routinely run on all anomalous gold results as a check on nugget effects. Samples are routinely sent to other labs for additional checks.

On behalf of the Board of Directors

Brian J. Maher, President and Chief Operating Officer

This release may contain forward-looking statements or statements that 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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