Kodiak Exploration Limited
TSX VENTURE : KXL
FRANKFURT : KX3

Kodiak Exploration Limited

May 11, 2009 14:02 ET

Kodiak Intercepts Large Altered and Uranium Mineralized Zone with Multiple Drill Holes at West Millennium

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - Kodiak Exploration Ltd. (TSX VENTURE:KXL)(FRANKFURT:KX3) is pleased to report that drilling at its 213 square kilometre West Millennium uranium project in the Athabasca Basin of northern Saskatchewan has defined a very large and significant zone of highly altered and uranium mineralized (up to 0.13% U3O8) basin fill sediment and underlying basement rock that extends for over 14 kilometres along strike and remains open. Kodiak completed five drill holes testing structural and stratigraphic EM conductors extending from an historic Cameco drill hole on the property. Four of the five drill holes define a central 3 kilometre long zone of highly altered basement graphitic pelite associated with highly anomalous uranium mineralization (greater than 0.13% U3O8) at the unconformity. Kodiak will use these drill results to vector into zones believed to host higher grade uranium mineralization within this highly altered and strongly mineralized structural corridor. Planning for the next phase exploration is already underway. Highlights of the drilling are summarized below:

WM09-04: This drill hole was designed to test a very strong EM conductor (D-1) located 200m NW and up-dip from historic Cameco drill hole CX-11. The hole intersected a 69 metre thick fractured graphitic and pyritic pelite unit. The interval exhibits strong chlorite and grey clay alteration with local mylonite and fault gouge. The overlying sandstone is bleached and unusually hematitic. A ten-metre thick lower sandstone section immediately above the unconformity returned highly anomalous radioactivity from the down-hole gamma probe with a maximum reading of 1174 cps (about 25X background, see below). Individual drill samples contain up to 0.13% U3O8 uranium and anomalous nickel values within the highly altered basement rocks. The alteration and mineralization defined along the D-1 conductor trend shows that a robust uranium mineralizing event has affected the D-1 conductor structural corridor.

WM09-01: Drilled on the D-1 conductor 3.0 kilometres northeast of WM09-04, encountered a five-metre thick zone of strongly altered graphitic and pyritic pelite just below the unconformity and a strong alteration halo extending further down-hole for 28 metres with anomalous radioactivity at the unconformity (5-6 times background). The 20 metre thick lower sandstone section contains highly anomalous boron up to 722 ppm.

WM09-03: This drill hole is also on the D-1 conductor 500 metres along trend from historic drill hole CX-11. Drill hole three cut a 86 metre wide, strongly fractured and altered graphitic-pyritic pelite unit containing fracturing, grey clay and slickensides. The lower sandstone section is fractured and desilicified for about 100 metres above the unconformity. Anomalous radioactivity defined by the down-hole logger reaches 751 cps.

These drill results have substantially enhanced the exploration potential of the West Millennium Property. The high potential D-1 conductor now has an inferred width in excess of 200 metres and a drill-defined strike length of three kilometres within a 14 kilometre long conductive anomaly defined by EM. The broad width of this conductor was previously unrecognized and the drilling has added substantially to the huge volume of potential uranium-bearing graphitic host rock on the property. The flanks of these graphitic host units are highly prospective for uranium and they remain untested by drilling. This target, when compared to similar features seen in Cameco's Millennium deposit, is virtually identical to known uranium mineralized environments. Multiple identical conductive anomalies occur throughout Kodiak's 213 square kilometre West Millennium property, demonstrating the property's large untested uranium resource potential. Additional exploration is being planned for West Millennium in light of this very successful drilling program.

Gamma log for drill hole WM09-04 is available on our Web site under;
http://kodiakexp.com/_resources/news/News_11-May-09_WM09-04_gamma_log.pdf

All technical information for the West Millennium Uranium Project is collected, documented, stored and reported through the QA/QC formal procedure by Qualified Persons Keith Metcalfe, P.Eng., P. Geo, Chief Geologist and Peter Daubeny, P.Geo, Senior Geologist. Samples of drill core are collected by three methods: 1) the systematic 10m - spaced composite chips (1-2 cm wide every 1.5m as a standard) taken from just below the casing shoe to just above the sandstone/basement interface (unconformity); this practice accounts for an actual core loss of less than 1%. 2) The split or half-core samples taken continuously across the unconformity whereby about 50% of the core section is removed for analysis. 3) one to three cm chips are taken at 20m intervals for PIMA clay analysis. A combination of these three methods may be used well into the sub-Athabasca basement rock units depending on the radioactivity, structure and alteration features observed by the geologist. Core boxes are marked and labeled in succession. Weather-proof sample tags are stapled securely to the box partition at the start of the sample interval which is also marked along the core box ribs with an indelible marker. Following sample selection the residual drill core is stored as cross-stacks or in core racks, covered, labeled and archived at the company's camp site. Drill core samples are sealed in bags or pails with tamper - proof locking cable ties. Special metal/plastic containers are used for "hot" uranium - bearing samples. A "chain of custody" is in place whereby all sample shipments are closely monitored by the site geologists. All analyses are conducted under strict protocol by SRC Geo Lab in Saskatoon, Saskatchewan. SRC is a specialist in the field of uranium mineral research and is Canada's only CNSC licensed laboratory offering the complete spectrum of uranium processing and analysis.

Kodiak is a mineral exploration company with properties located in Canada. You can view additional maps, photographs and additional information, on our Web site: www.kodiakexp.com. The geological information in this press release has been reviewed and approved by Keith Metcalfe, Chief Geologist-Energy Division, who is a qualified person under the definitions established by National Instrument 43-101.

On behalf of the Board of Directors

Robert J. Harrington, Managing Director

This release may contain forward-looking statements or statements that relate to current or future activities which involve known and unknown risks and uncertainties. Actual events, performance or results may 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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