Kodiak Files NI 43-101 Technical Report: Initial Mineral Resource Estimate at the MPD Copper-Gold Project

Press Release

January 23, 2026– Vancouver, British Columbia – Kodiak Copper Corp. (the “Company” or “Kodiak”) (TSX-V: KDK, OTCQX: KDKCF, Frankfurt: 5DD1) today announces that it has filed an independent technical report (the “Report”) on SEDAR+ prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) in support of the initial Mineral Resource estimate on the Company’s 100%-owned MPD copper-gold project in southern British Columbia.

Highlights

• Large, open-pit copper-gold initial Mineral Resource estimate (“MRE”) which shows the scale and potential of MPD and lays the foundation for future resource growth and development.
• The Initial MRE comprises seven deposits: West, Adit, South, Gate, Ketchan, Man, and Dillard.
  Figure 1
• Total Indicated Mineral Resource: 82.9 million tonnes (Mt) grading 0.39% copper equivalent (CuEq) for 519 million pounds (Mlb) of copper (Cu) and 0.39 million ounces (Moz) of gold (Au). Table 1
• Total Inferred Mineral Resource: 356.3 million tonnes (Mt) grading 0.32% copper equivalent (CuEq) for 1,889 million pounds (Mlb) of copper (Cu) and 1.28 million ounces (Moz) of gold (Au). Table 1
• The MRE is defined using a cut-off grade of 0.2% CuEq. Sensitivity cases using lower cut-of grades typical of producing mines in the area have significantly higher tonnages and metal contents.
  Table 2
• All deposits remain open for expansion within and beyond the MRE pit shells, most in multiple directions and at depth. Kodiak’s work in 2026 will be focussed on Resource growth. In addition, Kodiak intends to test some of the numerous underexplored targets on the MPD property which present opportunities to discover new mineralized zones.
• The Report is available on SEDAR+ and on the Company’s website.

Figure 1: MPD Project – Location Map of Mineral Resources

Initial Mineral Resource Estimate

The drill hole density in the South Zone, West Zone and central part of the Gate Zone was sufficient to develop a 82.9 Mt Indicated Resource grading 0.39% CuEq. Inferred Resources at the Man, Dillard, Ketchan, Gate, Adit, South and West Zones total 356.3 Mt with an average grade of 0.32% CuEq (see Table 1). The effective date for the MRE reported herein is December 9, 2025. Figure 2 shows the MRE pit shells that support the Reasonable Prospects of Eventual Economic Extraction (RPEEE).

Table 1: MPD Initial Mineral Resource Estimate

Notes:

1. The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Definition Standards for Mineral Resources and Reserves, as prepared by the CIM Standing Committee and adopted by CIM Council.

2. A cut-off grade of 0.2% CuEq was applied to the MRE models within the pit shells.

3. Pit shell optimization used average recoveries derived from metallurgical test work of Cu 82%, Au 60% and Ag 54%, exchange rate of 1.35 CAD:USD, mining cost of C$2.3/t, process cost of C$8.5/t, and pit slope of 45 degrees.

4. Copper equivalence (CuEq) and constraining pit shells assume metal prices (US$) of: $4.2/lb copper, $2,600/oz gold, $30/oz silver.

5. The copper equivalency equation used is: CuEq(%) = Cu(%) + Au(g/t) x 0.6606 + Ag(g/t) x 0.0069

6. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves in the future. The MRE may be materially affected by considerations including, but not limited to, permitting, legal, sociopolitical, environmental issues, market conditions or other factors.

7. All figures are rounded to reflect the relative accuracy of the estimate. Totals may not sum due to rounding as required by reporting guidelines.

Figure 2: MPD Project –Underground View of Mineral Resource Block Models and associated RPEEE 3D pit shells

Sensitivity Cut-off Grades

In addition to the base case cut-off grade (“COG”) of 0.2% CuEq a range of cut-off grades from 0.12% to 0.22% CuEq were applied to the Resource models to evaluate the potential effect on tonnage, grade and metal content (Table 2). Lower cut-off grade sensitivity cases demonstrate a notable increase in tonnage and in-situ metal, with a decrease in average grades. The values in the COG sensitivity cases are for comparison purposes only and should not be considered Mineral Resources.

Table 2: Cut-Off Grade Sensitivity Summary

Notes:

1. Copper equivalence (CuEq) assumes metal prices (US$) of: $4.2/lb copper, $2,600/oz gold, $30/oz silver.

2. CuEq is based on average recoveries derived from metallurgical test work as applied in the pit optimization process. Average recoveries are: Cu 82%, Au 60% and Ag 54%.

3. The copper equivalency equation used is: CuEq(%) = Cu(%) + Au(g/t) x 0.6606 + Ag(g/t) x 0.0069

Next Steps

Kodiak is actively advancing the MPD Project through the following key work streams and upcoming catalysts in 2026:

• Metallurgical test results – Q1
• Soil results and drill targets – Q1
• Resource expansion drilling – Q2 onwards
• Exploration drilling, testing new targets – Q2 onwards
• Geophysical programs – Q2 onwards
• Resource update – Q1 2027
• Ongoing structural studies
• Continued environmental baseline studies
• Ongoing engagement with indigenous rightsholders and local stakeholders

Qualified Person

The Report was prepared by Alfonso Rodriguez, M. Sc., P.Geo (Apex Geoscience Ltd), James Gray, P.Geo (Advantage Geoservices Ltd) and Shane Tad Crowie, P. Eng. (JDS Energy and Mining Inc.), each of whom are independent Qualified Persons as defined by NI 43-101. The effective date of the report is June 25, 2025.

The MRE was prepared by James Gray, P.Geo., of Advantage Geoservices Ltd.,  with contributions from Tysen Hantelmann, P.Eng., of JDS Energy & Mining Inc. for cut-off grade and Pit Shell optimization and Shane Tad Crowie, P.Eng., of JDS Energy & Mining Inc., for metallurgical parameters, in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards and Canadian National Instrument 43-101 (“NI 43-101”). James Gray, Tysen Hantelmann and Shane Tad Crowie, are independent Qualified Persons as defined by NI 43-101 and have reviewed and approved the contents of this news release. Dave Skelton, P.Geo. (AB), Vice President Exploration and a Qualified Person as defined by National Instrument 43-101, has approved and verified the technical information used in this news release. The historic work referenced herein is believed to be from reliable sources using industry standards at the time, based on Kodiak’s review of available documentation. However, the Company has not independently validated all historic work, and the reader is cautioned about its accuracy.

Marketing Services

The Company has also engaged Connect 4 Marketing Ltd. (“Connect4”) to provide digital marketing services including Search Engine Marketing, influencer management and 3rd party newsletters. The term of the agreement with Connect4 is for a period of 12-month period beginning January 22, 2026 for a total budget of $200,000 plus applicable taxes, payable in two tranches, half on signing and the balance April 1^st, 2026. Subject to the approval of the TSX Venture Exchange, the Company may elect to increase the Budget.

Connect4 is a Quebec, Canada based company and the principal of Connect4 is Louis-Carlos Vargas Rocheleau. To the best of the Company’s knowledge Connect4 does not have any equity interest in the securities of the Company, or a right to acquire such an interest. Connect4 and its principal have an arms’ length relationship to the Company.

On behalf of the Board of Directors
Kodiak Copper Corp.

Claudia Tornquist
President & CEO

For further information contact:
Nancy Curry, VP Corporate Development
ncurry@kodiakcoppercorp.com
+1 (604) 646-8362

ILR4