Kodiak Exploration Limited
TSX VENTURE : KXL
FRANKFURT : KX3

Kodiak Exploration Limited

February 27, 2009 14:39 ET

Kodiak Exploration Ltd.: Metallurgical Testing of Golden Mile Gold Mineralization Shows Greater Than 99% Gold Recovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2009) - Kodiak Exploration Ltd. (TSX VENTURE:KXL)(FRANKFURT:KX3) is pleased to report the results of metallurgical testing performed on three composite surface and drill hole bulk samples from the Golden Mile vein system at the Hercules Project in the Beardmore-Geraldton gold camp in western Ontario. These test results show an average gold recovery of greater than 99% from the three +10 kg samples. The test work was preformed by SGS Lakefield Research Ltd., Lakefield, Ontario ("Lakefield"). In the Conclusions and Recommendations prepared by Lakefield, they state, "The cyanidation of gravity tails yielded an excellent response with greater than 99% of the gold being recovered/extracted in the gravity + cyanidation flow sheet." Lakefield further states, "Process mineralogy should be considered for further characterization of gold occurrence." The complete Lakefield report will be posted on Sedar within 30 days. A table extracted from the report and summarizing the results is shown below:



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Reag. Consumption
kg/t of
Feed CN Feed
Size %Au Extraction/ Head Au
P80, Recovery g/t
Test micro Stage Overall Residue calc direct
Feed No. m NaCN CaO Grav CN Grav+CN g/t (1) (2)
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17004/6 CN-1 58 0.41 0.63 61.5 98.1 99.3 0.14 19.3 42.0
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274826/34 CN-2 77 0.43 0.69 87.3 94.7 99.3 0.26 38.2 20.9
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17005/7 CN-3R 59 3.5 1.0 68.1 98.1 99.4 0.33 54.5 96.4
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(1) calc head calculated from test products
(2) direct head from 1 kg sample utilizing screened metallics method for
coarse gold


Based on these very positive metallurgical test results, it is apparent that Golden Mile mineralization will be amenable to low-cost conventional milling techniques. As the company moves forward with the economic evaluation of the Hercules project, these results help answer vital questions about gold distribution in the system. Kodiak will use this information to determine locations and methodologies for potential surface and underground bulk sampling, an important step in evaluating ultimate minability.

Kodiak is in the midst of a 6,000 metre diamond drilling program that will compliment the metallurgical testing program. The diamond drilling program has two distinct goals: 1) In-fill and delineation drilling within and at the margins of the high grade gold mineralized shoots to aid the economic evaluation of the Mile, and 2) Exploration drilling down-dip from the principal Golden Mile high grade shoots.

Hercules drill hole highlights from the current program are shown below. All assays for drill holes HR09-313 through HR08-329 can be found on Kodiak's website: www.kodiakexp.com. An updated long section will be posted when the current phase of drilling has been completed and all assays have been received.



Hercules drill hole highlight table: Location key: GM equals Golden Mile

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FROM TO INTERCEPT GOLD GOLD
HOLE-ID Metres Metres Metres G/T O/T ZONE
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HR09-313 110.6 111.3 0.7 1.15 0.034 GM
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117.1 118.0 0.9 6.00 0.175
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Including 117.1 117.5 0.4 11.60 0.338
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118.5 119.0 0.6 1.13 0.033
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HR09-318 176.9 177.8 0.9 10.47 0.305 GM
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Including 176.9 177.4 0.5 17.10 0.499
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HR09-321 103.0 103.2 0.2 2.63 0.077 GM
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104.8 105.8 1.0 5.75 0.168
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Including 105.3 105.8 0.5 9.84 0.287
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HR09-322 31.0 32.3 1.3 5.27 0.154 GM
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34.8 35.7 0.9 16.50 0.481
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Including 35.0 35.4 0.4 31.30 0.913
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HR09-325 40.8 41.7 0.9 1.36 0.040 GM
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43.1 43.6 0.5 1.15 0.034
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44.6 45.0 0.4 3.34 0.097
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45.5 46.2 0.7 6.48 0.189
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Including 45.9 46.2 0.3 12.20 0.356
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HR09-328 91.4 92.0 0.6 3.12 0.091 GM
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98.9 101.3 2.4 11.18 0.326
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Including 98.9 99.3 0.4 45.40 1.324
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100.2 100.6 0.4 13.30 0.388
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HR09-329 40.3 40.7 0.4 1.24 0.036 GM
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41.2 42.7 1.5 8.29 0.242
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Including 42.1 42.4 0.3 17.30 0.505
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Kodiak will continue this two prong approach to Hercules exploration throughout 2009. We believe that it is important to understand the economic viability of the main portion of the Golden Mile vein system while continuing to explore for additional ounces elsewhere within the Hercules project area. Following completion of the current 6,000 metre drilling program, there will be a brief drilling hiatus during break-up with a second phase of drilling scheduled to commence in early June. In addition to advancing the Golden Mile towards scoping, management views organic growth through continued district scale exploration and an aggressive approach to M & A opportunities as the key drivers to increased value for Kodiak.

Energy Division Update

The winter exploration program at Kodiak's West Millennium project in the Athabasca Basin of northern Saskatchewan is underway. Kodiak has completed its first drill hole, WM-09-01, to a total depth of 723 metres. The unconformity was reached at a depth of 676 metres. Strongly altered graphitic pelite was observed at the unconformity and alteration extended an additional 28 metres below the unconformity. Down-hole radiometrics are in progress. Crews are mobilizing to the next drill site and expect to begin the next drill hole shortly. Kodiak will provide additional updates as new data is received. More information about the West Millennium Project can be found on Kodiak's web site: www.kodiakexp.com.

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.

The geological information for the Hercules Project 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. For the Energy Division, the geological information 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

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.

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

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