Kodiak Significantly Extends Golden Mile Strike/Identifies Multiple Parallel Structures: Financial News

Kodiak Significantly Extends Golden Mile Strike/Identifies Multiple Parallel Structures
Tuesday October 30, 2007 1:36 pm ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Oct 30, 2007 -- Kodiak Exploration Limited (CDNX:KXL.V - News) is pleased to announce that interpretation of new geophysical data indicates significant extensions to the known strike extents of the gold bearing structures and has identified multiple new parallel structures adjacent to the Golden Mile and Yellow Brick Road veins. These structures are over 3 km long in total and greatly expand the potential scale and geometry of the Hercules gold system. Ground crews have been mobilized to prospect these targets.

The geophysical data show that the Golden Mile and the Yellow Brick Road structures extend at least 2 kilometres beyond their previously known extents. The Golden Mile structure has now been confirmed over a distance of at least four kilometres, potentially doubling the size of the Golden Mile and establishing the enormous potential of this large gold bearing structure. Four new major parallel structures have also been identified, bringing the total strike extent of the system to a least 20 km. In addition, multiple gold bearing ladder veins have been discovered by surface exploration and are also indicated by the geophysics between the Golden Mile and Yellow Brick Road Zones. The geophysics also indicates the same pattern between other major structures on the property, potentially adding significant length to multiple parallel structures already indicated to have an aggregate strike of more than 20 km.

In order to fill in grid spacing and further demonstrate continuity of gold mineralization, multiple new channel samples have been collected from the Golden Mile at 10 metre spacing. All samples contain sulphides and visible gold and have been submitted for rush gold analysis. Previously reported channel grabs at the very northern end of the Golden Mile have assayed up to 60 gpt gold, confirming continuity of gold mineralization over the 2 km length of the Golden Mile which has been exposed on surface to date and has now been shown to potentially remain open for up to an additional two kilometres. Further drill results, including results from seven previously unreported holes, are expected as soon as the metallic assays are completed.

Mr. Brian Maher, Kodiak's VP Exploration, comments: "Over five kilometres of major gold-bearing structures have been identified at Hercules in a very short period of time. Multiple parallel structures are now indicated by geophysics, tremendously increasing the gold potential of the Hercules project. The property's potential continues to grow daily and represents only a small portion of the 1,000 square km plus land position Kodiak has worked very hard to secure in the Beardmore-Geraldton gold camp. The Kodiak team looks forward to the pending assay results with great optimism. We have already arranged to expand the November drill program to include two drill rigs, and then ramp up to 3 rigs. It is our plan to complete a new 60,000 metre drill program intended to demonstrate the economic potential of this significant new gold system."

"Kodiak will apply the proven method of geologic compilation, interpretation followed by systematic aggressive exploration on its entire 1,000 plus square km land package located in the Beardmore-Geraldton greenstone belt."

The information contained in this news release has been reviewed and approved by Robert B. Hawkins, Kodiak's Chief Geologist, who is a qualified person under the definitions established by National Instrument 43-101.

Kodiak is a mineral exploration company with significant projects in three different sectors of the mining resource industry. Through regional, grass-roots generative exploration and new geological models the Company has built a portfolio of 100% controlled projects focused on gold, base metals (nickel/copper), and uranium in three different areas of Canada. Maps, photographs, detailed geologic reports and additional information may be viewed on our web site at www.kodiakexp.com.

To view the map accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/Kodiak%20Exploration.pdf

On behalf of the Board of Directors

KODIAK EXPLORATION LIMITED

William S. Chornobay, Director, President

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

This release has been prepared by management - TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.