Kodiak Copper Expands MPD Drill Program to 16,500 Metres, Adds Second Rig

• Kodiak Copper Corp. has increased its 2026 drill program at the MPD copper-gold project from 6,500 metres to 16,500 metres and added a second drill rig.
• All seven deposits included in the 2025 initial Mineral Resource Estimate are open to expansion, and drilling is being considered at each of them this year.
• Drilling has begun at the Ketchan deposit, where 2,546 metres across 14 holes have been completed so far.
• The second drill rig has been moved to the southern part of the property, following completion of a geophysical survey over the West, Adit and South deposits.
• First assay results are expected in August, with an updated Mineral Resource Estimate planned for the first quarter of 2027.

Kodiak Copper Corp. (TSX-V: KDK, OTCQX: KDKCF, Frankfurt: 5DD1) is a Canada-based mineral exploration company advancing its wholly owned MPD copper-gold project in the Quesnel Terrane of south-central British Columbia, a mining region with existing infrastructure and nearby producing operations. The project's 2025 resource estimate identified seven deposits, all open to further expansion, alongside untested targets across the broader property. The company also holds the Mohave copper-molybdenum-silver project in Arizona, near the Bagdad mine. Kodiak's chairman, Chris Taylor, previously led Great Bear Resources, and the company is part of Discovery Group, led by John Robins.

Drill Program Upsized From 6,500 to 16,500 Metres With Second Drill Rig Added at MPD

Kodiak Copper's 2026 exploration season at the MPD project began in early May and is expected to run through late autumn. The company has increased planned drilling from 6,500 metres to 16,500 metres, with a second drill rig added to the site to carry out the additional work.

The expanded program is intended to accelerate growth of the initial resource estimate, published in 2025, which outlined seven separate deposits. All seven deposits remain open to expansion, most in more than one direction. Kodiak is considering additional drilling at each of these seven deposits during the year.

Beyond the known deposits, the company has identified 36 prospective exploration targets across the broader MPD property that have not yet been drill tested. Several of these are expected to be advanced and tested this year alongside the resource expansion drilling.

Initial Drilling Commenced at Ketchan Deposit Targeting Significant Expansion Potential

Drilling has started at the Ketchan deposit, one of the seven zones included in the 2025 resource estimate. To date, 14 holes totalling 2,546 metres have been completed. Ketchan is currently defined over a strike length of approximately 1.4 kilometres.

A surface soil anomaly associated with the deposit extends over more than two kilometres, beyond the boundaries of the current defined zone. A number of historic drill holes intersecting mineralisation lie outside the current deposit outline as well; these were not included in the 2025 resource estimate because the existing drill hole spacing around them was considered insufficient.

A second drill rig has been mobilized to the southern part of the MPD property, where Kodiak recently completed a three-dimensional geophysical survey covering the West, Adit and South deposits, ahead of planned drilling at these zones.

First Assay Results Expected August With Updated MRE Planned for Q1 2027

Samples from the current drill program have been submitted to the laboratory, with first assay results expected in August. Additional results are expected on a rolling basis through the remainder of the year as more holes are completed and processed.

Results from this year's drilling, across Ketchan and the other deposits tested, are intended to feed into an updated Mineral Resource Estimate, scheduled for the first quarter of 2027.

President and CEO Claudia Tornquist said:

"The 2026 exploration program at MPD is progressing very well, and the addition of a second drill will fast-track our progress as we advance resource growth opportunities across the project and test priority targets. We continue to see considerable scope to expand our maiden resource and are excited by the prospect of new discoveries across our portfolio of targets. With the first assay results expected soon, our shareholders can look forward to strong news flow and many exploration results throughout the remainder of the year, leading to an updated resource estimate in 2027 that will reflect the results of the expanded drilling program."

Outlook and Next Steps

Looking ahead, the company expects first assay results in August, followed by additional drill results through the autumn as both rigs continue operating across the property. An updated Mineral Resource Estimate is planned for the first quarter of 2027.

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