Kodiak Exploration Limited

Kodiak Exploration Limited

September 04, 2007 09:01 ET

Kodiak Commences Uranium Exploration on Otish Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2007) - Kodiak Exploration Limited (TSX VENTURE:KXL) is pleased to report that Terraquest Limited has commenced an airborne geophysical survey of Kodiak's ten uranium properties in the Otish Basin of Quebec. The 11,000 line kilometres airborne survey and follow-up ground exploration will be used to identify radioactive targets for a drilling program. Kodiak holds a 100% interest in all ten claim blocks, which collectively cover approximately 105,000 acres.

The Otish Basin has been considered prospective for uranium for many years. It is frequently compared to the Athabasca Basin of Saskatchewan, which accounts for approximately one third of global uranium supply. The Otish Basin has seen a strong resurgence in uranium exploration following recent discoveries made by Strateco Resources Inc., which intersected 2.13% U3O8 over 15.2 metres in a 2006 drill hole on its Matoush property. Strateco's claims are contiguous with Kodiak's Matoush north and south properties and lie 1.3 km east of Kodiak's Matoush west claim block.

Kodiak's research of historical data indicates that its ten uranium properties include a wide range of geological settings with potential to host a variety of deposit types comparable to mineralization at Strateco's Matoush property and to well documented deposits in Saskatchewan. These include perched deposits within the basinal sediments (like Matoush), classic unconformity-style deposits at the bedrock interface (like Key Lake, Sask.), and deep unconformity deposits within the crystalline bedrock (like Rabbit Lake, Sask.).

Several of Kodiak's properties cover specific target areas identified in the late 1970s by Uranerz, a large European uranium company, in the late 1970s, but relinquished after the uranium price collapsed in the early 1980s. Kodiak's UR property is one such example. Exploration conducted on the UR claim block during the 1970's by Uranerz identified more than 100 radioactive boulders within a 3 km x 2 km area, but apparently did not find the source of the boulders. Those Government filings made by Uranez indicate that those boulders returned uranium values ranging from 0.12% U308 to 4.13% U308. Kodiak's exploration programs will be directed at locating the source of those mineralized boulders. Since the boulders were deposited at their current locations by glacial ice flows, they form a pattern which allows the company to follow them "up-ice" to a potential source. The particular pattern of the radioactive boulders discovered by Uranerz indicates that a regional fault located 3 km up-ice may be the source of those boulders and, therefore, prospective for a uranium deposit. That fault is covered by mineral claims which are 100% owned by Kodiak.

Kodiak's airborne geophysical survey includes radiometric, magnetic and VLF electromagnetic systems designed to identify radioactive targets and fault zones within the basinal sediments and basement rocks near the basin margin. Kodiak has budgeted $800,000 for the airborne program and planned follow-up surface exploration.

Please visit Kodiak's website (www.kodiakexp.com) for more detailed descriptions and maps of Kodiak's Otish Mountains Uranium exploration properties.

The information contained in this news release has been reviewed and approved by Christopher Marmont P.Geo, who is the qualified person for the Otish project under the definitions established by National Instrument 43-101.

Kodiak is a mineral exploration company with properties located in Canada. Maps, photographs, geological details and additional information may be reviewed on its 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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