Kodiak Extends Ketchan Mineralization by over 450 Metres with 0.41% CuEq over 122.5 Metres from Surface

Kodiak Copper Corp. released additional assay results on October 14, 2026, from seven holes totaling 1,583 meters drilled on the Ketchan deposit within its 100%-owned MPD copper-gold porphyry project in southern British Columbia. The company stated that drilling southeast of Ketchan has expanded the mineralized envelope by a minimum of 450 meters beyond the deposit's defined 1.4-kilometer strike extent.

Reported weighted assay intervals are as follows:

• AG-26-034: 122.5 m from 5.5 m to 128 m grading 0.31% Cu, 0.10 g/t Au, 1.70 g/t Ag (0.41% CuEq)
• AG-26-015: 207.3 m from 22.7 m to 230 m grading 0.19% Cu, 0.15 g/t Au, 0.58 g/t Ag (0.31% CuEq)
• AG-26-021: 202.5 m from 39.5 m to 242 m grading 0.12% Cu, 0.09 g/t Au, 0.76 g/t Ag (0.20% CuEq)
• AG-26-020: 37.5 m from 115.5 m to 153 m grading 0.15% Cu, 0.06 g/t Au, 1.00 g/t Ag (0.21% CuEq)
• AG-26-007: 90 m from 246 m to 336 m grading 0.06% Cu, 0.06 g/t Au, 0.35 g/t Ag (0.12% CuEq)
• AG-26-011: 40.5 m from 45.5 m to 86 m grading 0.03% Cu, 0.02 g/t Au, 0.27 g/t Ag (0.05% CuEq)
• AG-26-008: no significant assays

Supporting geological context indicates that hole AG-26-034 intersected calc-potassic alteration from the surface on the margin of a southeast-trending 3D-IP chargeability anomaly that extends a further 550 meters beyond that collar. Hole AG-26-021 tested an intrusive monzonite porphyry and confirmed the body is mineralized throughout, characterized by bornite and chalcopyrite veins. Hole AG-26-020 tested an area east of the mineral resource estimate (MRE) with no known mineralization, while holes AG-26-007 and AG-26-011 tested the gap between the northwestern and main lobes, returning lower-grade mineralization. Historic hole K15-08, which returned 92 meters at 0.21% Cu, 0.12 g/t Au, 0.97 g/t Ag, and 0.31% CuEq, is cited alongside AG-26-034 and AG-26-021 as evidence that Ketchan can be extended at least 450 meters southeast.

The 2026 drilling program has totaled 12,712 meters across 60 holes to date, against a planned 16,500 meters. Drilling is scheduled to continue into late 2026, with an updated MRE planned for the first quarter of 2027.

Kodiak Copper Corp. (KDK) reported a net loss of C$1,747,503 for the nine months ended June 30, 2026, with cash and cash equivalents standing at C$20,584,241 at that date. The company holds zero long-term debt, has 111,858,607 shares outstanding, and a book value per share of C$0.51. An investor deck indicates a lower cash balance of C$16 million at September 30, 2026, reflecting ongoing operational burn.

The company remains a pre-revenue, advanced-exploration entity. It holds a maiden NI 43-101 Mineral Resource Estimate (MRE), effective December 9, 2025, which defines 82.9 million tonnes (Mt) indicated at 0.39% copper equivalent (CuEq), containing 519 million pounds (Mlb) of copper and 0.39 million ounces (Moz) of gold, alongside 356.3 Mt inferred at 0.32% CuEq, containing 1,889 Mlb of copper and 1.28 moz of gold. These resources are defined across seven deposits at a 0.2% CuEq cut-off. The Ketchan deposit alone accounts for 66.0 Mt inferred at 0.33% CuEq, containing 349 Mlb of copper. With a market capitalization of roughly C$78 million at a share price of C$0.70, Kodiak operates as a micro-to-small cap explorer.

Recent drilling results expand the perceived footprint of the Ketchan deposit, suggesting a roughly 30% increase in strike length if the 450-meter intercept converts to resources. The grades are slightly below the current Ketchan resource grade. Hypothetically, adding 15-30 Mt at approximately 0.29% CuEq would represent roughly 5% growth in the project’s 439 Mt total, or approximately 100-150 Mlb of copper. This expansion is considered incremental rather than transformational and is not yet demonstrable, as it rests on three holes, one of which is historic and unverified.

The market has not reacted positively to recent drilling results. The preceding result, released on September 9, 2026, identified hole AG-26-019 with an intercept of 283.5 meters at 0.70% CuEq, including 108 meters at 1.02% CuEq. This was explicitly described as the best hole ever drilled at Ketchan, yet the stock closed at C$0.79 on that date and declined to C$0.70 by October 13. The stock is currently near the low end of its 52-week range, indicating the market is waiting for a resource update or the Kay Copper transaction rather than trading individual assay results.

The 450-meter step-out qualifies as a genuine offset that extends the mineral system with assays. In prior corporate developments, Kodiak is vendoring its Mohave project into Kay Copper alongside Teck’s Copper Hill, retaining a 26.4% interest in a listed vehicle with roughly C$5.4 million of escrowed financing. Completion was targeted for October 2026.

Kodiak Copper Corp. (KDK) owns the 100%-controlled MPD copper-gold porphyry project in southern British Columbia’s Quesnel Terrane. The 357 km² property, stretching roughly 40 km north to south, features year-round paved highway access, an existing logging road network, low-cost grid power, and confirmed water supplies. The Mineral Resource Estimate (MRE), effective December 9, 2025, and filed in January 2026, identifies seven deposits: Gate, West, South, Ketchan, Dillard, Man, and Adit.

The maiden MRE reports 82.9 million tonnes (Mt) of indicated resources grading 0.39% CuEq, containing 519 million pounds (Mlb) of copper and 0.39 million ounces (Moz) of gold. Inferred resources total 356.3 Mt at 0.32% CuEq, containing 1,889 Mlb of copper and 1.28 moz of gold, based on a 0.2% CuEq cut-off. Sensitivity cases using cut-offs between 0.12% and 0.22% CuEq bracket 73-121 Mt of indicated and 298-657 Mt of inferred resources. All seven deposits remain open to expansion.

Kodiak also holds a 26.4% interest in the Mohave copper-molybdenum-silver porphyry project in Arizona, located adjacent to Freeport’s Bagdad mine. This secondary asset is currently being vended into Kay Copper Corp., a new TSX-V-listed vehicle that also includes Teck’s Copper Hill project.

The company has 111.9 million shares outstanding, along with 7.6 million options at an average strike of C$0.83 and 10.3 million warrants at an average strike of C$0.85, resulting in 129.8 million fully diluted shares. Cash reserves stood at C$16 million as of September 30, 2026, according to the investor deck, compared to C$20.58 million at June 30, 2026, per financial statements. The company carries no long-term debt and is fully funded for its 2026 programme.

Ownership is distributed among institutional investors (30%), family offices (22%), insiders and management (9%), and major shareholders (8%), with Konwave AG as the largest shareholder. Management includes Founder and Chairman Chris Taylor, President and CEO Claudia Tornquist, VP Exploration Dave Skelton, and CFO Mark Laycock. The team is part of the Discovery Group. Cormark Capital Markets and Paradigm Capital are listed in the investor deck, though no analyst notes, transcripts, or consensus figures are included in the provided materials. No Preliminary Economic Assessment (PEA), Preliminary Feasibility Study (PFS), net present value (NPV), internal rate of return (IRR), capital expenditure (capex), all-in sustaining costs (AISC), or mine life is disclosed, as the deck explicitly states that economic studies are not included.