Kodiak Copper Corp. reported further results from the recently completed 2022 drill program of over 26,000 metres at the 100% owned MPD copper-gold porphyry project in southern British Columbia. Assay results reported herein extend the Prime mineralized envelope from bedrock surface to 780 metres depth, confirm the continuity of mineralization within the Prime and Gate Zones, and demonstrate the potential to expand copper-gold mineralization at depth and outward from Gate.

Preparations are ongoing for another large exploration program at MPD testing multiple targets in 2023. Field operations are planned to commence in first quarter. High priority targets include historically drilled zones in the Dillard, Man and Axe areas, as well as the recently discovered Beyer high-grade gold-silver zone, and the Blue copper-gold target which has been newly defined through Kodiak's prospecting and geochemical work.

Further new targets are being generated and refined across the MPD property. The 2022 MPD program drilled over 26,000 metres in 41 holes and included regional exploration comprised of sizeable geophysical and geochemical surveys in prospective areas. The Company will continue to report on the 2022 work.

Drilling at the Prime Zone in 2022 was carried out from three setups located within a 500 metre north- south oriented corridor. Holes were drilled at various azimuths and inclinations to intersect copper-in-soil anomalies, 3D Induced Polarisation (3D IP) responses at depth, and to infill areas between previous holes below historic trenching. The drilling at Prime confirmed the continuity of significant copper-gold mineralisation plunging south and dipping to the east, similar to Gate.

When combined with previous work, the Prime trend measures 200 metres wide (east-west), with over 400 metres of strike (north-south) and has now been extended down to 780 metres depth. Holes MPD-22-018 and MPD-22-014 were drilled to the northwest from two separate pads. After passing through the shallower Prime Zone mineralization, both holes intersected the Gate Zone and related alteration envelope at depth.

Holes MPD-22-019, 020 and 031 were drilled at various azimuths and inclinations pads central to the Prime Zone. These holes infilled a 250-metre gap and tested 3D IP responses at depth, and along strike of trenches and shallow historic drilling. The Prime Zone measures 200 metres wide (east-west), with over 400 metres of strike (north-south) and was extended down to 780 metres depth with recent results.

Exploratory holes MPD-22-011, 012, 016, and 021 to 025 were drilled to test look-alike 3D IP geophysical signatures south of Prime and east of the Gate Zone. Four of these provided valuable targeting, geological and structural information. However, weak and discontinuous mineralization did not warrant assaying at this time.

The remaining four holes did not reach target depths due to difficult ground conditions. MPD is a large, 147 square kilometre land package located near several operating mines in the southern Quesnel Terrane, British Columbia's primary copper-gold producing belt. It is situated between the communities of Merritt and Princeton, with year-round accessibility and excellent infrastructure nearby.

Following Kodiak's Gate Zone discovery in 2020, ongoing drill programs in 2021 and 2022 have significantly expanded the size and depth of known mineralization at the Gate Zone to one kilometre of strike length, 350 metres width and 900 metres depth. In addition, the Company has discovered a parallel porphyry trend at the nearby Prime Zone and will be expanding exploration efforts to new copper- gold target areas like Dillard, Man, and 1516 (Axe), plus new high grade gold-silver trends like the Beyer discovery.