Kodiak Exploration Limited is pleased to announce the commencement of a helicopter EM and Magnetics survey at its Mine Point Gold Project in Manitoba. The survey will cover a 140 square kilometre area in the central portion of the Mines Point target area focusing on tightly folded Archean banded iron formation (BIF) adjacent to a regional scale shear zone.

Previous wide-spaced airborne mag surveys had identified five priority target areas; the current HEM program will be flown with a tight line spacing (75 metres) in order to constrain the target areas prior to ground exploration. The survey is expected to be completed by mid-July with follow-up work to commence once the data has been received and interpreted.

The Mines Point Gold Project is located within the Archean God’s Lake – Sachigo Volcanic Belt in north central Manitoba about 35 kilometres north of Oxford House. The 432 square kilometre property covers a 40 kilometre long trend of prospective Archean BIF. Several significant gold deposits with resources in excess of 1.5M ounces have been discovered in the area in a similar geological setting: Monument Bay,

Stull Lake and Oxford Lake. These deposits and the Mines Point Project geologically resemble the large multi-million ounce gold deposits at Lupin, NWT, Musselwhite, Ontario and Casa Berardi, Quebec. BIFhosted gold deposits are attractive exploration targets due to the consistency and continuity of gold grades and the lateral persistence of the host rock, potentially generating large volume gold deposits. The geological information for the Mines Point Gold Project has been reviewed and approved by Darren Lindsay, Kodiak's Vice President-Exploration, who is a qualified person under the definitions established by National Instrument 43-101.