Ms. Claudia Tornquist reports

KODIAK ADDS SECOND DRILL RIG AT MPD COPPER-GOLD PORPHYRY PROJECT IN SOUTHERN BRITISH COLUMBIA

A second drill rig has begun drilling at Kodiak Copper Corp.'s 100-per-cent-owned MPD copper-gold porphyry project in Southern British Columbia. The company is executing a fully financed drill program of up to 25,000 metres in 2023, focused predominantly on new porphyry targets that have not previously been drilled by Kodiak.

Kodiak recently disclosed that a 3-D induced polarization geophysical survey had identified a new drill target from surface to a depth of 600 metres extending below shallow historic copper and gold mineralization of the Man zone in the northern part of the MPD property (see news release dated Feb. 28, 2023). The second drill rig is now testing this target.

Drilling also continues at the West zone target in the MPD South (formerly Axe) area where Kodiak recently announced that new drill holes have intersected porphyry mineralization and sulphides (see news release dated June 13, 2023).

Claudia Tornquist, president and chief executive officer of Kodiak, said: "Our 2023 drill program replicates the approach that led to our Gate zone discovery on a suite of compelling new targets, with the aim to discover further high-grade porphyry centres and demonstrate the district-scale potential of the MPD project. We are encouraged by our progress to date and have now added a second drill rig to accelerate the program and test several targets in parallel. I am looking forward to the first batch of drill results from this year's drill program which we expect in July."

MPD is a large, 226-square-kilometre land package located near several operating mines in the southern Quesnel terrane, British Columbia's primary copper-gold producing belt. The project is located between the towns of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.

Jeff Ward, PGeo, vice-president of exploration and the qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this release. Kodiak believes historic results referenced herein to be from reliable sources using industry standards at the time. However, the company has not independently verified, or cannot guarantee, the accuracy of this historic information.

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, 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.

Kodiak's founder and chairman is Chris Taylor who is well known for his gold discovery success with Great Bear Resources. Kodiak is also part of Discovery Group led by John Robins, one of the most successful mining entrepreneurs in Canada.

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