Kodiak Copper Releases Initial Resource Estimate at MPD Project

• Initial Mineral Resource Estimate covers seven deposits with 82.9 million tonnes Indicated at 0.39% copper equivalent and 356.3 million tonnes Inferred at 0.32% copper equivalent
• West and Adit deposits contain high-grade mineralisation from surface with geometry expected to support low strip ratios
• South deposit extends over one kilometre in length and remains underexplored
• Cut-off grade sensitivity analysis shows Inferred resources could reach 657.1 million tonnes at 0.12% copper equivalent
• All deposits remain open for expansion with 2026 programmes targeting resource growth and testing of approximately 20 additional targets.

Kodiak Copper Corp. (TSX-V: KDK, OTCQX: KDKCF) is a Canadian junior exploration company focused on copper-gold porphyry projects in Canada and the United States. The company's primary asset is the wholly owned MPD copper-gold porphyry project in British Columbia's Quesnel Terrane, a mining region with operating mines and developed infrastructure. The company was founded by Chris Taylor, known for gold discoveries with Great Bear Resources, and is part of Discovery Group led by John Robins.

Initial Mineral Resource Estimate for Seven Deposits

The December 2025 announcement completes the maiden Mineral Resource Estimate for MPD by adding the West, Adit and South deposits to the previously reported Gate, Ketchan, Man and Dillard deposits. The total estimate comprises Indicated resources of 82.9 million tonnes grading 0.39% copper equivalent, containing 519 million pounds of copper and 390,000 ounces of gold. Inferred resources total 356.3 million tonnes at 0.32% copper equivalent, containing 1,889 million pounds of copper and 1.28 million ounces of gold.

The West deposit contains 14.2 million tonnes of Indicated resources grading 0.37% copper equivalent and 24.7 million tonnes of Inferred resources at 0.36% copper equivalent. The deposit has high-grade mineralisation from surface. The Adit deposit contains 20.1 million tonnes of Inferred resources grading 0.38% copper equivalent with silver values averaging 2.79 grams per tonne. The Adit zone also features mineralisation from surface.

The South deposit contains 12.3 million tonnes of Indicated resources at 0.30% copper equivalent and 70.9 million tonnes of Inferred resources at 0.26% copper equivalent. The deposit extends over one kilometre in length. According to the company, South is underexplored with expansion potential.

Claudia Tornquist, President and CEO, stated:

"West and Adit in particular host high-grade mineralization right from surface, an important characteristic that positions these zones well as starter pits in a possible future mining scenario."

Resource Scale and Cut-Off Grade Sensitivity Analysis

The base case estimate uses a 0.2% copper equivalent cut-off grade. Sensitivity analyses examined cut-off grades ranging from 0.12% to 0.22% copper equivalent. At 0.15% copper equivalent, Indicated resources increase to 107.1 million tonnes and Inferred resources expand to 537.7 million tonnes. At the lowest cut-off of 0.12% copper equivalent, Indicated resources reach 120.6 million tonnes and Inferred resources total 657.1 million tonnes.

Lower cut-off grades result in higher tonnages with lower average grades. The sensitivity cases are for comparison purposes only and should not be considered Mineral Resources. The resource estimate used metallurgical test work showing average recoveries of 82% for copper, 60% for gold and 54% for silver. Metal price assumptions were US$4.20 per pound for copper, US$2,600 per ounce for gold and US$30 per ounce for silver.

Pit shell optimisations used mining costs of C$2.30 per tonne and processing costs of C$8.50 per tonne, with an exchange rate of 1.35 CAD:USD and a pit slope of 45 degrees. These parameters established reasonable prospects for eventual economic extraction.

Chris Taylor, Chairman, commented:

"It is also noteworthy how clearly the sensitivity cases at lower cut-off grades demonstrate the large in-situ metal endowment at MPD."

Future Resource Growth and Exploration Plans

All seven deposits remain open for expansion beyond the current pit shell boundaries. The 2026 exploration programme will focus on resource expansion drilling beginning in the second quarter. The company has identified approximately 20 exploration targets across the property. Some targets are supported by historical drill results, whilst others were defined using artificial intelligence-supported targeting through VRIFY.

The company plans to file a NI 43-101 technical report in the first quarter of 2026, followed by metallurgical test results and soil sampling results. Geophysical programmes are scheduled for the second quarter onwards. The company will continue structural studies and environmental baseline work alongside engagement with Indigenous rightsholders and local stakeholders. An updated resource estimate is planned for the first quarter of 2027.

Milestones and Next Steps

The maiden Mineral Resource Estimate establishes the scale of mineralisation at MPD across seven deposits. Near-term activities include the first-quarter 2026 release of the NI 43-101 technical report and metallurgical results. Resource expansion drilling will commence in the second quarter to test extensions of known deposits, whilst exploration drilling will evaluate new targets. The company will advance technical studies, environmental baseline work and stakeholder engagement to support project development.

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