Ms. Claudia Tornquist reports

KODIAK BECOMES CARBON NEUTRAL EXPLORATION COMPANY

Kodiak Copper Corp. became carbon neutral in 2022 through the purchase of carbon offsets from the Great Bear Forest carbon project. In addition to purchasing offsets, Kodiak has committed to decreasing its carbon emissions by 20 per cent per metre drilled by 2030 through the implementation of a carbon reduction strategy.

Claudia Tornquist, president and chief executive officer of Kodiak, said: "Kodiak's business is the responsible and sustainable exploration of copper, a material absolutely essential for the energy transition and a low-carbon future. Achieving carbon neutrality is part of our company's ESG strategy to generate value and reduce risks through environmental, social and governance best practices. I am delighted we were able to purchase carbon offsets from the Great Bear Forest carbon project, an indigenous-led initiative that improves the management of sensitive ecosystems in British Columbia where Kodiak's MPD copper-gold project is located. Our 2023 exploration program at MPD is progressing well and we will provide an update and the next batch of drill results soon."

Kodiak's first annual greenhouse gas emission assessment in 2022 was conducted independently by Synergy Enterprises. The company generated 449 tonnes of carbon equivalent greenhouse gas emissions, primarily from the 26,103-metre drill program at the MPD copper-gold porphyry project in Southern British Columbia. A copy of the company's greenhouse gas inventory report can be found on the company's website.

Carbon offsets were purchased from the Great Bear Forest carbon project, an initiative which generates emission reductions by protecting forest areas in British Columbia previously designated, sanctioned or approved for commercial logging. It is a landmark project for balancing human well-being and ecological integrity through carbon finance and is the first carbon project in North America on traditional territory with unextinguished aboriginal rights and title. Funds from the sales of the carbon offsets go toward creating jobs within first nations' communities.

About Kodiak Copper Corp.

Kodiak is focused on its 100-per-cent-owned copper porphyry projects in Canada and the United States. The company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel trough in south-central British Columbia, Canada. MPD has all the hallmarks of a large, multicentred porphyry system. Kodiak has made the Gate zone discovery of high-grade mineralization within a wide mineralized envelope, and MPD hosts several other targets with similar discovery potential. Kodiak also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, U.S., near the world-class Bagdad mine. Kodiak's porphyry projects have both been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.

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