Kodiak Copper Reports Initial Mineral Resource of 297Mt at MPD Project

• Initial Resource Defined: 56.4 million tonnes indicated resources at 0.42% copper equivalent containing 385 million pounds copper and 0.25 million ounces gold
• Inferred Resources: 240.7 million tonnes at 0.33% copper equivalent for 1,291 million pounds copper and 0.96 million ounces gold
• Partial Coverage: Estimate covers four of seven identified mineralised zones (Gate, Ketchan, Man, Dillard)
• Cut-off Grade Sensitivity: Lower cut-off grades yield higher tonnages; 0.12% CuEq case shows 445Mt total resources
• Completion Timeline: Full resource estimate incorporating remaining three zones scheduled for Q4 2025

Kodiak Copper Corp. (TSX-V: KDK) is a Vancouver-based exploration company that acquires and develops large-scale copper porphyry projects with existing mineral discoveries. The company targets properties in established mining districts where historical work has identified mineralization and infrastructure already exists to support future development.

Under the leadership of Chairman Chris Taylor, who previously founded Great Bear Resources, Kodiak operates as part of the Discovery Group led by mining entrepreneur John Robins. The company's flagship MPD copper-gold project in British Columbia's Quesnel Terrane represents its most advanced asset, where six years of systematic exploration has outlined seven mineralized zones across the district-scale property.

Initial Mineral Resource Estimate for Four Zones

The mineral resource estimate covers the Gate, Ketchan, Man and Dillard zones based on 216 core drill holes completed through 2024. The Gate Zone contains 56.4 million tonnes of indicated resources grading 0.42% copper equivalent, with drill hole spacing sufficient for this classification level.

Inferred resources across all four zones total 240.7 million tonnes grading 0.33% copper equivalent. The estimate uses open pit design shells and applies a 0.2% copper equivalent cut-off grade. Metal prices used in the copper equivalent calculation are US$4.20 per pound copper, US$2,600 per ounce gold and US$30 per ounce silver.

Block models were classified based on drill hole spacing, with indicated resources requiring drilling at up to 70-metre spacing at Gate, and inferred resources defined at up to 150-metre spacing. Average bulk densities range from 2.51 to 2.65 tonnes per cubic metre across the four zones.

Resource Modelling and Expansion Potential

Resource estimation employed ordinary kriging at Gate and inverse distance weighting at the other three zones. Grade estimation incorporated alteration models at Gate and Man zones, while lithology models controlled estimation at Dillard and Ketchan. Block size was set at 10x10x10 metres for all resources.

Cut-off grade sensitivity analysis examined grades from 0.12% to 0.22% copper equivalent. The 0.12% case yielded 100.8 million tonnes indicated and 344.4 million tonnes inferred resources. The analysis shows tonnage increases at lower cut-off grades with corresponding grade decreases.

Mineralisation extends beyond current resource boundaries in multiple directions and at depth. The company has identified over 20 additional copper and gold occurrences across the broader property. Current drilling targets the West, Adit and South zones for inclusion in the complete resource estimate.

Path to Full Resource Estimate by Q4 2025

Drilling continues at the West, Adit and South zones, which contain higher-grade, near-surface mineralisation. Results from this programme will be incorporated into the complete MPD resource estimate planned for Q4 2025. The company expects to receive drilling results from these zones in Q3 and Q4 2025.

Claudia Tornquist, President and CEO, stated that the initial resource estimate "marks the culmination of six years of systematic exploration and district consolidation" and represents "only four of the seven mineralized zones that will form the full Mineral Resource estimate for MPD." The current estimate addresses less than 60% of identified zones at the property.

Chairman Chris Taylor noted the company's expectation to "grow this Resource estimate substantially with the inclusion of the remaining zones later this year" and highlighted that "our sensitivity analysis shows a significant increase in tonnage and metal content when using a lower cut-off grade of 0.12% copper equivalent." The lower cut-off grade aligns with comparable operations in the region.

Next Steps and Development Milestones

Kodiak will file the NI 43-101 Technical Report within 45 days of the announcement. Infill and confirmation drilling at the West, Adit and South zones will continue through 2025, with results expected in Q3 and Q4. The company plans to complete the full MPD resource estimate by year-end 2025. Additional work streams include metallurgical testing, exploration drilling planning, environmental baseline studies and stakeholder engagement activities.

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