Kodiak Exploration Limited

Kodiak Exploration Limited

September 20, 2007 20:35 ET

Kodiak Exploration Limited: Options Granted

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - Kodiak Exploration Limited (the "Company") (TSX VENTURE:KXL) has granted options to directors and geological consultants of the Company to purchase up to an aggregate of 3,400,000 shares of the Company. The options vested as to 25% on granting and will vest as to an additional 12.5% each three months thereafter, so that all options will be fully vested at the end of eighteen months. The options are exercisable at the price of $0.55 per share from and after the times at which they vest until September 20, 2012, subject to any earlier termination in accordance with their terms.

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 base metals (nickel/copper), gold 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 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.

This release has been prepared by management - TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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