Deep Drilling Expands Gold Mineralization By 600%; Discovers Multiple New High Grade Gold Veins

Deep Drilling Expands Gold Mineralization By 600%; Discovers Multiple New High Grade Gold Veins
Vancouver, British Columbia, August 1, 2008. Kodiak Exploration Limited is pleased to report that as it approaches the mid-point of its 2008 exploration program, it has already increased the dimensions of the Golden Mile mineralized zone by more than 600% and made multiple new discoveries at the Hercules project. This has dramatically enhanced the resource potential of the entire area. In addition, Kodiak has also had excellent initial exploration results on several other stand alone regional targets it generated. These targets, spread across more than 200 kilometres of Kodiak's land holdings, are simultaneously being explored outside the Hercules project area. As a result, Kodiak plans to increase the number of drill rigs on site from five to eight and to increase the size of its work force, which already stands at well over 100 personnel in the field.
During 2008, Kodiak has completed over 27,000 metres of drilling in over 100 holes at the Hercules Project, with gold bearing mineralization intersected in virtually every hole. In addition the program continues to be successful in extending the strike and depth extents of several gold zones, it has now intersected significant gold mineralization deep in the Golden Mile and Lucky Strike and on multiple other structures, including the WLGZ, Seven of Nine and Marino gold zones. Assay results received from holes dr illed to date are set out in the table at the end of this news release.
Drilling and Exploration Highlights- Gold mineralization previously identified on the surface at the GoldenMile has now been confirmed to extend well over 2000 metres along strike andto depths of at least 450 metres in drill holes and the dimensions of theGolden Mile mineralized zone has increased over 600% since March 2008 andremains open (see Figures one and two below and on web site). Drilling inthe eastern portion of the Golden Mile has discovered a very large body ofgold mineralization that is open at depth and is currently being drilled todefine its full extent (right side of Figure one),-- A new high grade zone has been discovered to depths of almost 350 metresin the Golden Mile; highlights from this zone include 16.98 gpt gold (0.495opt) over 1.3 metres including 63.67 gpt gold (1.857 opt) over 0.3 metres indrill hole HR08-171 (see Figure one). This high grade zone has the samenorthwesterly rake as the central Golden Mile high grade zone and remainsopen at depth. In fill drilling continues to intercept high grades as wellwith 9.3 metres grading 14.78 gpt gold (0.431 opt) including 3.3 metresgrading 32.22 gpt gold (0.940 opt) in HR08-161,-- Drilling on the blind Lucky Strike structure, located parallel to theGolden Mile, has discovered a broad zone of gold mineralization totaling upto 41 metres wide (HR08-137, 1.2 gpt gold (0.035 opt)), indicating thestrong potential for shallow, bulk-minable gold mineralization at Hercules.The Lucky Strike and Golden Mile structures appear to converge at depth, acommon control to high grade mineralization, defining an excellent deeptarget; deep drilling is ongoing and will test this target in the nearfuture (see Figure three below and on web site),-- Early prospecting 3,000 metres northwest of the Golden Mile hasdiscovered a large system of-more-strongly mineralized quartz veining that is on strike with the Golden Mile(see Figure four below and on web site). This potential extension could morethan double the strike length of the Golden Mile to over five kilometres.Assays from recent sampling are pending and advanced follow up explorationis underway. -- On the WLGZ Gold Zone, drill hole HR08-145 has intercepted 3.3 metresgrading 22.26 gpt gold (0.649 opt) including 0.8 metres grading 90.00 gptgold (2.625 opt) further defining the geometry of this gold mineralizedarea, additional drilling is planned to define the full extent of thissignificant zone.-- Drilling on the parallel Seven of Nine vein system, immediately adjacentto previously announced high grade gold mineralization found in the Marinovein system (HR07-16; 1.6 metres grading 38.47 gpt gold (1.122 opt)), hasintercepted significant gold mineralization including 12.85 gpt gold (0.375opt) over a width of 1.1 metres including 0.3 metres grading 53.24 gpt gold(1.553 opt; HR08-113). These systems remain open, drilling on the Marino andSeven of Nine veins continues. Initial drilling on the Yellow Brick Roadvein intersected broad mineralized structures at a depth of 250 metres overa width of approximately 10 metres. This system remains open, assays arepending,Copies of the new long section, new maps, cross sections and photos may befound in the "What's New" section of Kodiak's web site: www.kodiakexp.com Hercules ExplorationExploration adjacent to the Golden Mile has also accelerated at Hercules.Individual samples from a parallel vein lying between the Golden Mile andthe Marino vein system contains up to 37.1 gpt gold (1.082 opt; channelGM-15), outlining an important new target area that is to be followed upwith advanced exploration (see Figure four below and on web site). Twokilometres northwest of the Marino-more-and Seven of Nine vein systems, a broad new zone of gold mineralized quartzveined structure has been identified that appears be the on strikecontinuation of those vein systems; additional prospecting and stripping areplanned. Stripping, sampling and drilling has also begun southwest of the GoldenMile, exploring multiple parallel geophysically indicated structures in anarea where historic sampling produced grab samples with up to 46.22 gpt gold(1.348 opt) (Ontario Assessment Report 42E13SE0109 by Douglas Binkley, 1992,p. 19). Drilling in this area has commenced, intersecting several broadaltered structures and quartz veining corresponding to the interpretedlinear magnetic features, verifying the geophysical interpretation. Assaysare pending. In addition, mineralized quartz vein float has been foundacross the lake and on strike approximately 500 metres northwest of thecentral Golden Mile (see Figure four below and on web site). This lakecurrently marks the most northwesterly limit of the drilling to date on theGolden Mile. Drilling on thi s newly discovered extension is planned tocommence in the immediate future. The exploration program will continue totest over 30 km of indicated parallel structures and simultaneously expandthe scale and geometry of the extensive Golden Mile vein system and severalother confirmed parallel gold bearing veins thus expanding the resourcepotential of the entire Elmhirst Lake intrusion.
New Discoveries in the Beardmore-Geraldton Camp - Beyond Hercules While Kodiak's program continues to expand at Hercules, prospecting,stripping, sampling and drilling have begun at nine of the more than thirtystand alone gold targets identified by our Regional Exploration team outsidethe Elmhirst Intrusion, but within the more than 1,400 square kilometrescontrolled by Kodiak. First pass channel sampling results from the Solomon's Pillar project (seeweb site for the regional project location map) have identified a strongzone of gold mineralization that extends at least 500 metres along strikethat remains open. Channel sampling highlights at Solomon's Pillar includechannel SPX-19 which cuts 5.5 metres grading 12.82 gpt gold (0.374 opt)including 0.9 metres grading 25.1 gpt gold (0.732 opt). A 3,000 metredrilling program has commenced; the first drill holes have intercepted 20 to30 metre thick zones of intensely mineralized banded iron formation andsheared clastic rock; assays are pending. At the GMO project, located in the western portion of theBeardmore-Geraldton gold district (see web site for the regional projectlocation map), a series of new gold bearing quartz veins have beendiscovered containing visible gold with grab samples grading up to 41.5 gptgold (1.22 opt gold). These veins are approximately 2000 metres west of andalong strike with the high grade Northern Empire mine (~ 150,000 ounces ofhistoric gold production). This new vein system has a strike length of atleast 350 metres and widths of up to 2 metres and remains open. Drilling isin progress to test its economic potential. At Kodiak's West Geraldton-Kenogamsis project located just west of the townof Geraldton (see web site for the regional project location map), the newlydiscovered Goldstrike and Drexel zones have been stripped over a strikelength of over 300 metres and remain open. Between 1934-36, an historicdrill hole (Hole 2) by Lafayette Long Lac GML cut the Goldstrike zone andintercepted 2.04 metres grading 327.79 gpt gold (9.56 opt); Kodiak plans toverify this historic intercept and test other targets by diamond drillingsoon. A second zone of strong mineralization located 500 metres west of theGoldstrike zone has also been discovered. These structures are characterizedby quartz veining with arsenopyrite over broad widths where historic grabsamples have graded up to 129.5 gpt gold (3.777 opt). Additional strippingand channel sampling is ongoing; drilling has commenced. Early grass-roots reconnaissance has identified strong gold mineralizationat the Maki, Sturgeon Bridge, East Leitch, Bearskin, Klotz Lake, Blackwater,Kaby Lake and the Brenbar project where recently channel grabs returnedassays up to 40.7 gpt gold. Additional advanced exploration, includingstripping, mapping and sampling are underway. Kodiak's program of mineral rights acquisition is also ongoing. Given thesize of its current land package, Kodiak does not typically announceacquisitions unless they are material or an announcement is requiredpursuant to the policies of the TSX Venture Exchange due to Kodiak having anobligation or option to issue shares in payment or partial payment for theprop erty. Pursuant to an agreement made with a local prospector as of July8, 2008, Kodiak was granted an option to acquire a 100% interest in threemineral claims in Summers Township, subject to a 3% NSR, by paying $5,000 incash and $5,000 in Kodiak shares upon receipt of TSX Venture Exchange noticeof acceptance, plus an additional $45,000 in cash in three installments overthe ensuing three years. Kodiak has the right to purchase the NSR for$1,000,000 for each 1%.Management's AnalysisMr. Brian Maher, Kodiak Vice President of Exploration comments: . "thesetargets are located along the-more-more than 300 kilometres of major gold producing breaks or structures thatare 100% controlled by Kodiak. The similarities in size and continuity tothe Cadillac break in Val d' Or and the Porcupine-Destor fault zone arestriking (see web site for a new map depicting the two camps). Consideringthe exploration dollars spent on those structural zones compared to thesmall amount spent in the Beardmore-Geraldton gold camp, and considering theoutstanding results already obtained to date, it is easy to conclude thatthe Beardmore-Geraldton area is largely under explored and has tremendouspotential. As our team continues to compile old exploration data and togenerate new data from high grade gold showings, it continues to amaze mejust how many high grade gold showings and compelling exploration targetsthere are in the area. Ultimately, Kodiak will be answering the fundamentalquestion "just how large is the gold endowment of the Beardmore-Geraldtongold camp?" Based on what we have seen to date, not only at Hercules, butelsewhere in our enormous land package, I think we are just beginning tounderstand the size and scale of this very large gold mineralized system." Mr. Bill Chornobay, President, comments: "Kodiak continues to systematicallyexplore its extensive landholdings within the Beardmore-Geraldton gold camp.Based on continuing positive results, the magnitude of th e explorationprogram has been expanded dramatically. Additional prospecting crews,excavators and multiple drills are currently testing over 30 kilometres ofindicated structures on the Elmhurst Lake intrusion, beyond the currentextent of the Hercules project. Exploration to date has significantlyexpanded the resource potential and our knowledge of this entire area. Theprocess remains ongoing and our exploration plan has proven to be extremelyeffective in unlocking the resource potential of the entire 30 square kmHercules project area. In addition, the broad scope of our regionalexploration program, in targeted areas of the ~1,400 square kilometrescontrolled by Kodiak outside the Elmhirst Lake intrusion is designed toultimately reveal the resource potential of our entire landholdings. Ourobjective remains to ensure that our shareholders participate in therealization by Kodiak of the full value of its assets. We look forward toreporting ongoing results with much anticipation."Drill Hole Assay Table: Location key: GM, Golden Mile; LS, Lucky Strike;WLZ, Wilkinson Lake Zone; PLZ, Peneleton Zone; Hole ID From To InterceptGold Gold Location TD Metres Metres metres G/T O/T MetresHR08-78 118.2 118.7 0.5 1.92 0.056 GM 145HR08-82 Anomalous Mineralization GM 207HR08-83 67.0 67.6 0.6 1.07 0.031 GM 320161.1 161.6 0.5 2.35 0.069HR08-84 188.8 189.1 0.3 1.05 0.031 GM 260238.4 238.8 0.4 2.48 0.072241.7 242.8 1.1 1.27 0.037HR08-85 309.1 309.5 0.4 1.92 0.056 GM 345HR08-86 71.7 73.7 2.0 1.25 0.036 GM 10183.8 85.7 1.9 1.61 0.047HR08-87 36.7 36.9 0.2 1.27 0.037 GM 7039.0 39.9 0.9 3.93 0.11541.8 42.2 0.4 1.21 0.03544.7 45.3 0.6 1.94 0.057HR08-88 28.9 29.0 0.1 1.45 0.042 GM33.1 33.4 0.3 5.13 0.15034.4 35.8 1.4 2.18 0.06446.8 47.3 0.5 1.44 0.042HR08-89 29.8 30.7 0.9 2.70 0.079 GM 11633.8 34.1 0.3 1.35 0.039-more-Hole ID From To Intercept Gold Gol d Location TD Metres Metres metres G/TO/T Metres HR08-90 38.6 38.8 0.2 1.66 0.048 GM 8640.4 41.0 0.6 3.40 0.09956.6 56.8 0.2 1.96 0.057HR08-91 16.1 16.3 0.2 1.56 0.046 GM 7738.2 40.2 2.0 1.42 0.04147.0 47.4 0.4 1.10 0.032HR08-92 41.6 42.1 0.5 2.38 0.069 GM 8044.0 44.3 0.3 2.34 0.06845.3 45.7 0.4 1.02 0.03048.0 48.5 0.5 2.04 0.06066.6 67.0 0.4 1.06 0.031 GM FW splayHR08-93 42.9 43.3 0.4 1.52 0.044 GM 8146.4 46.6 0.2 4.23 0.12366.6 66.9 0.3 1.41 0.041HR08-94 60.8 61.0 0.2 6.44 0.188 GM 72HR08-95 41.0 42.3 1.3 1.84 0.054 GM 51HR08-96 65.4 66.0 0.6 2.09 0.061 GM 11667.0 67.2 0.2 1.02 0.03068.2 69.0 0.8 1.27 0.037HR08-97 Anomalous Mineralization 0.000 GM 65HR08-98 38.4 38.8 0.4 1.48 0.043 GM 5042.4 42.7 0.3 1.60 0.04743.2 43.6 0.5 1.42 0.041HR08-99 40.2 40.7 0.5 10.21 0.298 GM 47HR08-100 37.8 38.1 0.3 1.39 0.041 15261.7 62.0 0.3 1.95 0.057HR08-101 157.8 158.0 0.2 1.71 0.050 GM 254HR08-104 23.5 24.5 1.0 1.35 0.039 GM 117HR08-105 37.5 37.8 0.3 1.60 0.047 GM 177.8HR08-108 81.4 81.7 0.3 1.01 0.029 Marino 152 84.0 84.4 0.4 4.57 0.133122.6 123.7 1.1 0.98 0.029132.9 133.4 0.5 1.07 0.031HR08-109 14.3 15.5 1.2 1.13 0.033 Marino 13136.8 37.1 0.3 1.91 0.05659.7 60.0 0.3 1.07 0.031121.7 122.7 1.0 1.31 0.038HR08-110 Anomalous Mineralization 0.000 Marino 239HR08-111 20.6 21.3 0.7 1.01 0.029 Marino 13821.8 22.7 0.9 2.25 0.06623.7 24.0 0.3 1.21 0.035HR08-112 62.5 62.9 0.4 1.34 0.039 7 of 9 250HR08-113 8.7 9.0 0.3 1.01 0.029 7 of 9 26061.4 62.5 1.1 12.85 0.375Including 62.0 62.3 0.3 53.24 1.553HR08-114 21.4 22.2 0.8 1.76 0.051 7 of 9 23033.9 34.3 0.4 1.19 0.035HR08-115 Anomalous Mineralization 0.000 7 of 9 224-more-Hole ID From To Intercept Gold Gold Location TD Metres Metres metres G/T O/TMetresHR08-118 97.0 98.0 1.0 1.03 0.030 GM 158129.3 130.0 0.7 1.87 0.055HR08-119 Anomalous Mineralization 0.000 GM 182 HR08-120 83.0 83.5 0.5 1.170.034 GM 18185.1 86.0 0.9 2.16 0.06398.9 99.2 0.3 1.54 0.045106.4 106.6 0.2 1.31 0.038 GM FW splay117.3 117.5 0.2 1.08 0.032122.0 122.9 0.9 1.27 0.037127.0 128.2 1.2 1.38 0.040HR08-121 154.8 155.2 0.4 1.00 0.029 GM 320170.9 171.6 0.7 1.36 0.040HR08-122 15.1 15.5 0.4 2.22 0.065 GM 496289.6 290.5 0.9 1.39 0.041HR08-123 115.1 116.2 1.1 2.08 0.061 GM 308123.9 124.2 0.3 1.15 0.034186.1 186.3 0.2 1.00 0.029HR08-124 3.0 3.5 0.5 2.78 0.081 GM 46218.3 18.8 0.5 1.14 0.03320.1 20.9 0.8 2.49 0.07323.8 24.6 0.8 1.63 0.04826.2 27.0 0.8 2.12 0.062113.6 114.2 0.6 1.90 0.055411.0 411.4 0.4 1.21 0.035413.7 414.1 0.4 4.02 0.117421.2 421.6 0.4 1.86 0.054HR08-125 Anomalous Mineralization 0.000 GM 245HR08-126 Anomalous Mineralization 0.000 GM 280HR08-127 120.7 122.0 1.3 1.62 0.047 GM 152HR08-128 154.0 154.3 0.3 1.25 0.036 GM 250155.5 156.0 0.5 1.46 0.043175.4 176.1 0.7 20.00 0.583HR08-129 38.0 38.3 0.3 2.84 0.083 GM 300191.5 192.0 0.5 2.28 0.067309.6 309.9 0.3 1.21 0.035315.3 315.4 0.1 20.47 0.597HR08-130 132.3 133.0 0.7 1.25 0.036 GM 160HR08-131 Anomalous Mineralization GM 347HR08-132 47.4 47.8 0.4 7.17 0.209 GM 9550.4 50.7 0.3 1.03 0.03051.4 51.8 0.4 1.87 0.05554.6 55.1 0.5 1.41 0.04155.5 55.8 0.3 3.69 0.10856.0 56.7 0.7 3.56 0.104HR08-133 203.8 204.1 0.3 2.20 0.064 GM 233206.5 206.9 0.4 1.00 0.029207.7 209.0 1.3 8.83 0.258-more-Hole ID From To Intercept Gold Gold Location TD Metres Metres metres G/T O/TMetresHR08-134 89.5 89.7 0.2 2.89 0.084 GMHR08-135 323.7 324.7 1.0 1.58 0.046 GM 431HR08-136 Anomalous Miner alization 0.000 GM 146HR08-137 10.3 10.8 0.5 1.34 LS26.0 32.3 6.3 1.43 LS25.2 40.0 14.8 1.08 LS35.0 39.4 4.4 1.38 LS53.5 54.0 0.5 2.09 LS50.0 71.0 21.0 1.09 LS260.0 260.5 0.5 1.75 0.051 GM 311HR08-138 Anomalous Mineralization 0.000 GM 251HR08-139 13.3 13.6 0.3 4.88 0.142 LS 37748.8 49.3 0.5 1.30 0.038 LS53.0 53.4 0.4 1.34 0.039 LS296.0 296.2 0.2 1.11 0.032 GM301.7 302.3 0.6 1.12 0.033 GM306.6 307.1 0.5 2.31 0.067 GM307.6 308.1 0.5 1.18 0.034 GMHR08-140 74.2 74.8 0.6 1.02 0.030 LS 330309.7 309.9 0.2 1.23 0.036 GM316.5 318.1 1.6 0.95 0.028319.6 319.8 0.2 6.34 0.185HR08-141 Anomalous Mineralization GM 305HR08-142 59.2 59.5 0.3 1.20 0.035 GM 422125.6 125.8 0.2 1.40 0.041HR08-143 115.5 115.8 0.3 2.09 0.061 LS333.3 333.9 0.6 1.54 0.045 GM 407348.7 349.1 0.4 2.08 0.061 GMHR08-144 55.4 56.4 1.0 1.36 0.040 LS 326HR08-145 49.7 53.0 3.3 22.26 0.649 WLZincluding 49.7 50.5 0.8 90.00 2.625 WLZ 9852.5 53.0 0.5 1.39 0.04166.3 67.0 0.7 1.28 0.03768.0 68.8 0.8 2.78 0.08170.2 70.5 0.3 1.21 0.03573.7 74.0 0.3 1.19 0.035HR08-146 27.4 27.8 0.4 1.31 0.038 WLZ 8736.2 36.5 0.3 1.27 0.03738.2 38.5 0.3 2.46 0.07251.6 52.0 0.4 1.27 0.03752.4 53.2 0.8 3.43 0.10058.1 58.9 0.8 19.83 0.578Including 58.1 58.5 0.4 38.40 1.120HR08-147 151.0 151.3 0.3 1.52 0.044 PLZ 341.5 154.0 154.4 0.4 1.23 0.036HR08-148 25.3 25.7 0.4 1.49 0.043 GM 15266.1 66.5 0.4 3.93 0.11598.9 99.2 0.3 1.07 0.031-more-Hole ID From To Intercept Gold Gold Location TD Metres Metres metres G/T O/TMetresHR08-148 111.2 111.5 0.3 5.10 0.149HR08-149 21.4 22.0 0.6 1.67 0.049 GM57.5 57.8 0.3 1.28 0.037 470154.8 155.0 0.2 1.46 0.043315.4 315.5 0.1 4.63 0.135335.7 335.8 0.1 1.89 0.055387.3 388.3 1.0 1.53 0.045430.0 430.1 0.1 1.02 0.030433.1 433.3 0.2 1.23 0.036HR08-150 62.2 62.7 0.5 1.55 0.045 GM 302HR08-151 56.7 57.0 0.3 1.15 0.034 GM 190152.9 153.2 0.3 1.53 0.045161.3 161.6 0.3 1.31 0.038171.1 171.3 0.2 1.86 0.054HR08-152 24.0 24.3 0.3 2.05 0.060 LS 25093.9 94.2 0.3 2.97 0.087122.1 122.4 0.3 1.07 0.031122.8 123.2 0.4 1.46 0.043229.4 229.7 0.3 1.97 0.057 GMHR08-153 46.8 47.0 0.2 3.00 0.088 Unnamed zone 500m south of LS 383238.2 238.5 0.3 1.47 0.043HR08-154 14.8 15.0 0.1 4.53 0.132 LS204.8 205.0 0.2 1.42 0.041306.3 306.6 0.3 1.50 0.044 GM 431HR08-155 69.4 69.6 0.2 25.70 0.750 LS 254.1 184.0 184.9 0.9 1.32 0.039HR08-156 199.7 200.4 0.7 2.74 0.080 GM 300201.1 201.4 0.3 2.13 0.062 GMHR08-157 15.5 17.2 1.7 4.03 0.118 GM 45Including 15.7 15.9 0.2 10.80 0.31517.9 18.3 0.4 1.01 0.02918.5 18.7 0.2 1.33 0.03920.2 20.5 0.3 1.15 0.03424.2 24.6 0.4 2.87 0.08414.7 18.0 3.3 5.74 0.167HR08-158 14.4 18.0 3.6 5.27 0.154 GM 41including 14.7 15.8 1.1 13.04 0.38018.3 18.5 0.2 1.28 0.03722.8 23.2 0.4 1.15 0.034HR08-159 17.9 18.2 0.3 1.75 0.051 GM 5019.2 19.5 0.3 3.61 0.10525.0 25.3 0.3 1.72 0.050HR08-160 16.6 17.0 0.4 3.12 0.091 GM 4017.4 18.8 1.4 1.81 0.05319.2 20.6 1.4 8.34 0.243Including 19.5 20.0 0.5 15.30 0.446 GM21.6 22.0 0.4 1.68 0.049-more-Hole ID From To Intercept Gold Gold Location TD Metres Metres metres G/T O/TMetres HR08-160 23.0 23.7 0.7 1.53 0.04524.9 25.6 0.7 4.15 0.121HR08-161 14.6 15.1 0.5 1.52 0.044 GM17.0 26.3 9.3 14.78 0.431Including 20.1 23.4 3.3 32.22 0.94026.7 26.9 0.2 1.20 0.035HR08-162 21.1 27.3 6.2 2.36 0.069 LS26.2 27.3 1.1 3.08 0.09075.9 76.4 0.5 5.48 0.160219.3 219.8 0.5 1.12 0.033 GMHR08-163 24.2 24.5 0.3 1.76 0.0 51 LS 35034.9 35.1 0.2 1.28 0.03736.3 36.5 0.2 1.14 0.03339.9 41.0 1.1 1.39 0.04150.0 50.3 0.3 2.72 0.07953.0 53.3 0.3 1.03 0.03054.8 55.5 0.7 1.66 0.04856.3 56.9 0.6 1.16 0.03461.0 61.4 0.4 1.23 0.03662.9 63.8 0.9 1.64 0.04875.3 75.6 0.3 1.95 0.057252.8 253.6 0.8 10.15 0.296 GMIncluding 253.0 253.3 0.3 17.60 0.513258.5 258.7 0.2 1.33 0.039263.1 264.4 1.3 2.99 0.087HR08-164 201.3 201.7 0.4 1.43 0.042 GM202.2 202.6 0.4 1.14 0.033203.0 203.3 0.3 5.90 0.172 251HR08-165 50.8 51.8 1.0 1.29 0.038 Marino 21253.7 54.1 0.4 1.34 0.039HR08-166 67.7 68.1 0.4 1.13 0.033 Unnamed zone 500m south of LS 200HR08-167 156.2 156.5 0.3 2.16 0.063 GM 302 234.0 234.5 0.5 1.00 0.029 238.0239.0 1.0 1.28 0.037HR08-168 64.3 64.6 0.3 1.04 0.030 LS 34467.1 67.3 0.2 1.73 0.05070.0 71.1 1.1 2.02 0.059255.7 256.0 0.3 3.70 0.108 GM258.7 260.1 1.4 4.69 0.137Including 258.7 258.9 0.2 25.90 0.755HR08-169 71.3 71.5 0.2 7.69 0.224 LS391.5 392.0 0.5 1.22 0.036 GMHR08-170 40.2 41.0 0.8 1.37 0.040 LS 45243.3 43.8 0.5 1.02 0.030 308177.3 178.3 1.0 3.20 0.093 GM180.3 181.3 1.0 1.05 0.031216.4 217.4 1.0 1.53 0.045HR08-171 294.1 294.4 0.3 1.18 0.034 GM-more-Hole ID From To Intercept Gold Gold Location TD Metres Metres metres G/T O/TMetresHR08-171 295.4 296.7 1.3 16.98 0.495 431 Including 296.0 296.3 0.3 63.671.857297.8 298.1 0.3 1.04 0.030299.2 299.6 0.4 1.39 0.041301.6 302.0 0.4 1.02 0.030HR08-172 90.2 91.7 1.5 2.79 0.081 LS 43493.7 94.2 0.5 1.40 0.041252.0 253.0 1.0 3.00 0.088 GM264.0 264.9 0.9 2.48 0.072289.0 289.7 0.7 1.03 0.030HR08-173 179.0 180.0 1.0 3.32 0.097 LS243.7 244.5 0.8 4.02 0.117 HW splays320.4 321.9 1.5 7.03 0.205 GM323.0 323.2 0.2 1.25 0.036 353326.8 327.2 0.4 2.12 0.062HR08-174 48.8 49.1 0.3 1.25 0.036 LS66.9 67.4 0.5 1.12 0.033299.7 300.0 0.3 1.68 0.049 GM317.5 317.7 0.2 1.29 0.038 350HR08-175 116.4 117.4 1.0 6.36 0.186 LSincluding 117.0 117.2 0.2 29.40 0.858119.0 119.2 0.2 1.12 0.033 LS122.2 122.4 0.2 1.61 0.047 LS 392326.1 326.5 0.4 1.13 0.033 GMHR08-176 Anomalous Mineralization 7 of 9HR08-177 44.1 44.6 0.5 1.05 0.03182.6 85.3 2.7 1.82 0.053 LS85.8 86.0 0.2 1.65 0.04892.5 103.0 10.5 1.33 0.039104.5 106.5 2.0 1.11 0.032 278111.0 112.0 1.0 1.35 0.039270.6 271.2 0.6 3.46 0.101 GM272.9 275.2 2.3 1.66 0.048 338299.1 299.4 0.3 1.62 0.047 FW Splays300.3 301.0 0.7 1.05 0.031 554HR08-178 78.5 79.5 1.0 1.42 0.041 Unnamed vein240.6 240.9 0.3 1.19 0.035 LS485.7 486.3 0.6 1.05 0.031 GMHR08-179 138.6 139.0 0.4 1.95 0.057 7 of 9 329141.2 141.4 0.2 1.73 0.050HR08-180 99.3 100.0 0.7 1.70 0.050 LS 356120.3 120.8 0.5 1.87 0.055 Kodiak QA/QC procedures are as follows: Kodiak channel samples are 5 cm widecut perpendicular to the strike of the vein and/or shear zone from mappedalteration in the footwall continuously through the vein and/or shear zoneand into mapped alteration in the hanging wall. Channels are cut with amotorized circular saw to a depth of 20 cm and removed with a hammer.Channel sample spacing is nominally every 20m along strike, dependent onoutcrop size and geometry. Sample intervals are selected according togeologic contacts and visible mineralization, placed into a sample bag, andshipped to the assay lab for quantitative analysis of select elements.Kodiak drill cores are split down the center with a typical table feedcircular rock saw. Sample intervals are selected according to geologiccontacts, visible mineralization, and alteration, placed-more-into sample bags and shipped to the assay lab where they are quantitativelyanalyzed for select elements. Drill cores are boxed, covered, and sealed atthe drill rig and moved to the Kodiak logging and sample preparationfacilities by Kodiak personnel. Kodiak angle core holes are directedperpendicular to the mapped dip of the vein therefore reported drill holeintercepts approximate true thickness of the vein. All Kodiak samples arecurrently being assayed by Activation Laboratories Limited., Ancaster, ONL9G 4V5. Blank and standard samples are routinely submitted with all samplebatches sent to the lab for assay. Screened metallic assays are routinelyrun on all anomalous gold results as a check on nugget effects. Samples areroutinely sent to other labs for additional checks. Energy Division: Otish Uranium UpdateThe summer exploration program has commenced with the establishment of thefield camp. Prospecting, sampling and mapping are underway, this work isplanned to be followed by diamond drilling; results will be reported as theybecome available.The information contained in this news release has been reviewed andapproved by Robert B. Hawkins, Kodiak's Chief Geologist, who is a qualifiedperson under the definitions established by National Instrument 43-101. Exploration Update:The Company plans to complete approximately 60,000 metres of drilling duringits ongoing 2008 exploration program at the Hercules gold discovery. Resultsof the drilling will be released as they are received and compiled.
About Kodiak Exploration Limited:
Kodiak Exploration Limited (TSX.V - KXL) is an aggressive mineral exploration company with experienced management focused on precious, base metal and uranium exploration. Through regional, grass-roots generative exploration and new geological models, the Company has built a diverse property portfolio of 100% controlled Canadian projects which are highly prospective for gold, uranium, and base metals (nickel/copper). The Company currently has approximately $45 million in working capital and is well funded to carry out its future exploration programs. Maps, photographs, detailed geologic reports and additional information may be viewed on our web site, Kodiak is a mineral exploration company with properties located in Canada. You can now view an interactive map, as well as additional photographs, geological details and other information, on our web site: www.kodiakexp.com .
On behalf of the board of Directors KODIAK EXPLORATION LIMITED
William S. Chornobay, Director, President For further information contact: (604) 688-9006 or by email at info@kodiakexp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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.
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