Kodiak Reports High-Grade Copper and Gold From First Drilling at Ketchan

• Kodiak Copper Corp. reported its first drill results from the Ketchan deposit at the 100% owned MPD project in British Columbia, from eight holes totalling 1,665 metres.
• Hole AG-26-019 returned 0.56% copper, 0.15 g/t gold and 2.02 g/t silver (0.70% copper equivalent, or CuEq) over 283.5 metres, including a higher-grade interval of 0.83% copper, 0.20 g/t gold and 3.20 g/t silver (1.02% CuEq) over 108 metres.
• The intercept begins near surface, from 37.5 metres downhole.
• As of this release, 9,067 metres have been drilled across 46 holes in 2026 at the Ketchan, West, and South deposits, part of a planned 16,500 metre programme expected to continue into the fourth quarter of 2026.
• Results are expected to contribute to an updated Mineral Resource Estimate (MRE) for the MPD project's seven deposits, planned for the first quarter of 2027.

Kodiak Copper Corp. (TSXV: KDK) (OTCQX: KDKCF) (FSE: 5DD1) is a Canada-based exploration company advancing the 100% owned MPD copper-gold project in south-central British Columbia. The company's 2025 resource estimate outlined seven deposits at MPD, all of which remain open to expansion. Kodiak also holds the Mohave copper-molybdenum-silver project in Arizona, United States.

Best-Ever Ketchan Drill Result Returning 0.70% CuEq Over 283.5 Metres Including 1.02% CuEq Over 108 Metres From Near Surface

Kodiak's first drill programme at the Ketchan deposit returned its strongest result to date. Hole AG-26-019 intersected 283.5 metres grading 0.70% copper equivalent starting at 37.5 metres downhole, including a higher-grade section of 108 metres grading 1.02% copper equivalent. Copper equivalent is a single figure used to express the combined value of copper, gold, and silver in a sample, calculated using metal prices and recovery rates disclosed by the company.

A second hole, AG-26-009, intersected 94.5 metres grading 0.37% copper equivalent, including a higher-grade section of 67.1 metres at 0.47% copper equivalent. Both holes were drilled as infill within the main body of the deposit, meaning they were placed between existing drill holes to tighten the spacing of data used to estimate the resource.

The company states that these intercepts, together with results from holes AG-26-003, 004, 005, and 006, are expected to extend and upgrade the existing resource model at Ketchan.

Infill and Extension Drilling Across Seven MPD Deposits With 9,067 Metres Completed Toward 16,500 Metre Programme

The Ketchan results form part of a wider 2026 drilling campaign across the MPD project, which also includes the West and South deposits. Drilling is expected to continue into the fourth quarter of 2026 as the programme progresses toward its planned total.

The programme is designed to expand known deposits and test new targets across the property. All seven deposits included in the MPD resource estimate remain open to expansion, meaning their boundaries have not yet been fully defined by drilling. Results from holes completed this year, including those at Ketchan, are intended to feed into an updated resource estimate.

President and CEO Claudia Tornquist said:

"Our first drilling at Ketchan has delivered an excellent start to the 2026 program with a high-grade, near-surface intersection that exceeded our expectations and represents the best hole ever drilled at this deposit. While today's results confirm the presence of high-grade mineralization at Ketchan and fill in gaps in the resource model, drilling beyond the northwestern and southeastern ends of the Ketchan deposit is aimed at expanding the resource footprint. We see considerable opportunity to continue growing and upgrading this important deposit at MPD as we continue to unlock the broader potential of MPD."

Updated MRE Planned Q1 2027 With Southern Ketchan Extension and Large New IP Chargeability Anomaly Among Upcoming Targets

Kodiak has identified additional areas of interest for future drilling at Ketchan. Historical drilling intersected mineralisation 400 metres south of the current deposit, an area not yet tested by the current programme. 

Further out, an untested geophysical anomaly, identified through underground electrical survey data known as induced polarization (IP) chargeability rather than by drilling, extends one kilometre further along trend from the deposit. This anomaly coincides with elevated copper readings in soil and surface rock samples.

Further assay results from Ketchan are expected within the coming weeks, including holes targeting the potential southern extension. Together with results from the West and South deposits, this data is intended to support an updated MRE for the MPD project, planned for the first quarter of 2027.

Milestones and Next Steps

Kodiak expects further assay results from Ketchan within the coming weeks, including holes testing the potential southern extension of the deposit. Drilling across the MPD project is set to continue into the fourth quarter of 2026, working toward the planned 16,500 metre programme. Results from this year's drilling are expected to inform an updated Mineral Resource Estimate for the project's seven deposits, targeted for the first quarter of 2027.

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