Kodiak Reports Positive Results from Metallurgical Testwork on the MPD Project
Kodiak Reports Positive Results from
Metallurgical Testwork on the MPD Project
Vancouver, British Columbia--(Newsfile Corp. - May 28, 2026) - Kodiak Copper Corp. (TSXV: KDK)
(OTCQB: KDKCF) (FSE: 5DD1) (the "
Company
" or "
Kodiak
") today reports results from its second
metallurgical program conducted on samples from the Company's 100%-owned MPD copper-gold
project in southern British Columbia. The testwork built on the positive results from the Company's initial
metallurgical program in 2025 and continued to return robust recoveries and concentrates while
demonstrating that the grind size needed to achieve liberation is within acceptable industry parameters.
The results reinforce that the deposits at MPD are amenable to a traditional sulphide flotation flowsheet.
Highlights
Optimized rougher flotation testwork demonstrated improved performance relative to the previous
metallurgical work, with less energy invested into liberation due to a higher grind size. Rougher
recoveries of up to
91.1%, 81.4% and 80.4% for copper, gold and silver
respectively, were
achieved while increasing grind size to a P
80
of 150 µm.
The first locked-cycle test was completed,
simulating continuous processing conditions using
flowsheet parameters consistent with regional copper operations. The test
confirmed stable and
repeatable flotation performance
with overall cleaner concentrate recoveries of
78.7% copper,
60% gold, and 49.3% silver
.
Gold recovery was improved
in both rougher testwork and locked cycle tests. It was confirmed
that
a portion of gold is present as free gold and that the application of gravity recovery
processes may provide an opportunity to further improve gold recovery
.
As part of its ongoing technical work programs, Kodiak will
continue to advance metallurgical
studies, including variability testing and process optimization
, to further improve
performance.
Claudia Tornquist, President and CEO of Kodiak, said, "The results of the recent metallurgical testwork
are positive, with improvements that will potentially benefit the future economics of the project. Increasing
the grind size and identifying opportunities to improve gold recovery are particularly encouraging. The
completion of the first locked cycle test was also an important step forward since this work more closely
reflects performance in a production-scale plant. We look forward to continue building our knowledge
and de-risking the project through further metallurgical testing."
The initial 2025 metallurgical program provided insights into baseline copper and gold recoveries, a
basic understanding of the factors that impact metal recovery and observations that the samples
contained low concentrations of deleterious trace metals.
This second program deepened the
metallurgical and mineralogical understanding of the MPD deposits. Testwork included grind size
optimization to improve the grind vs recovery relationship, an investigation to better identify gold
deportment in the samples through diagnostic leach testing and the first locked cycle test to identify
specific elements of the flotation circuit for improvement. One composite sample comprising the MPD
North High Grade and the MPD South samples from the initial 2025 program was analysed.
Rougher Grind Size Optimization
As part of the second phase metallurgical program, Kodiak undertook testing to evaluate the impact of
increasing the primary grind size used in the initial testwork from a P
80
of 75 µm (80% of the mass finer
than 75µm) to a P
80
of 150 µm. An increase in the grind size would reduce the energy investment
needed to achieve target recoveries. This work was conducted through optimizing reagent schemes,
residence times, and flotation conditions established during the final phase of the previous program of
metallurgical testwork.
The testwork demonstrated that rougher recoveries comparable to those achieved during the initial
program in 2025 could be obtained at a coarser grind size. These results show that the deposits tested
respond favourably to grind sizes typically used in sulphide flotation circuits. Table 1 presents a
comparison of the rougher results for various test batches at a 150 µm grind size vs the 2025
metallurgical program at 75 µm.
Table 1:
Rougher Recovery Comparison
Grind
Recoveries
Test Program
(μm)
Cu (%)
Au (%)
Ag (%)
2025 (Previous)
75
89.9
74.1
76.0
2026 Batch Rougher-05
150
91.1
81.4
80.4
2026 Batch Rougher-06
150
90.2
86.2
86.9
2026 Locked Cycle Test Rougher - (Cycle E)
150
85.9
76.2
75.1
The ability to operate at this coarser grind size has several potential benefits, including reduced capital
cost, reduced comminution energy requirements, and lower operating costs. These findings reinforce the
opportunity to potentially enhance future project economics without compromising concentrate quality or
recovery performance.
Locked Cycle Test Results
The completion of the first locked cycle test is a significant milestone for the company as this type of test
reflects conditions in a process plant by simulating a full flotation flowsheet at steady state. The locked
cycle test was performed on the optimized rougher concentrate and achieved copper, gold and silver
recoveries of 78.7%, 60% and 49.3%, respectively, to a cleaner concentrate grading 18.3% copper, 8.2
g/t gold and 73 g/t silver. Table 2 presents the results of the three products from the test, including the
cleaner concentrate, cleaner tails and rougher tails.
During cleaner variation testwork, non-sulphide gangue was identified as a source of dilution in the final
concentrate.
These results suggest the possibility that alternative equipment could be used to remove
the dilution, thereby improving recoveries while achieving target grade. Follow-up testwork will be
undertaken to investigate the effectiveness of other techniques to manage the non-sulphide gangue.
Table 2:
Locked Cycle Test (D-E) - Metallurgical Results
Product
Mass
Feed Grade
Recoveries
%
Au (g/t)
Ag (g/t)
Cu (%)
Au (%)
Ag (%)
Cu (%)
Final Concentrate
1.6
8.2
73.0
18.3
60.0
49.3
78.7
Cleaner Tails
10.1
0.4
6.5
0.29
18.1
27.0
7.6
Rougher Tails
88.3
0.06
0.7
0.06
21.8
23.7
13.7
Feed
100
0.22
2.4
0.38
100
100
100
Gold Recovery
A key focus of the updated 2026 testwork was to improve overall gold recovery to final concentrate and
identify further opportunities for improvement.
As discussed above, the updated rougher variability
testwork showed an increase in gold recovery alongside copper performance.
Likewise, on the locked
cycle test, gold recovery to final concentrate was improved.
To identify further opportunities for improvement, rougher-stage leach testing was performed to
determine if gold is present as free gold, rather than associated with sulphide minerals.
The testwork
confirmed that a portion of gold is not associated with sulphides, indicating that flotation alone may not
maximize gold recovery and that the application of gravity recovery processes may provide an
opportunity to improve recovery. This will be an area of focus in follow-up phases of testwork.
QA/QP
The metallurgical program was carried out by BaseMet, Base Met, an Interteck company, is a leading
provider of metallurgical testing services whose specialties include mineral processing, gold extraction
technologies, comminution, geometallurgy and applied mineralogy. The metallurgical and mineralogical
work was conducted under the supervision of Shane Tad Crowie, P. Eng of JDS Energy & Mining Inc.
("JDS"), a Qualified Person as defined by NI 43-101. JDS is an international mining consultancy with
extensive experience across a wide range of deposit types and metals, including many porphyry copper
projects in British Columbia. Mr. Crowie has reviewed this news release and approved the technical
information pertaining to the metallurgical work. Dave Skelton, P.Geol, Vice President Exploration and
the Qualified Person as defined by National Instrument 43-101, has reviewed, and approved the
technical information contained in this release.
On behalf of the Board of Directors
Kodiak Copper Corp.
Claudia Tornquist
President & CEO
For further information, contact:
Nancy Curry, VP Corporate Development
+1 (604) 646-8362
About Kodiak Copper Corp.
Kodiak is focused on its 100% owned copper porphyry projects in Canada and the USA that have been
historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel
Terrane in south-central British Columbia, Canada, a mining district with producing mines and excellent
infrastructure. MPD has all the hallmarks of a major, multi-centered porphyry district with the potential to
become a world-class mine. Work to date has outlined multiple substantial mineralized zones across the
property, including several zones with near-surface, high-grade mineralization. A maiden resource
estimate for MPD is planned in 2025 and with known mineralized zones open to expansion and more
target areas yet to be tested, Kodiak continues to systematically explore the project to build critical mass
and make the next discovery. The Company also holds the Mohave copper-molybdenum-silver porphyry
project in Arizona, USA, near the world-class Bagdad mine.
Kodiak's founder and Chairman is Chris Taylor who is well-known for his gold discovery success with
Great Bear Resources. Kodiak is also part of Discovery Group led by John Robins, one of the most
successful mining entrepreneurs in Canada.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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statements within the meaning of applicable securities laws.
The use of any of the words "anticipate",
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"potential" and similar expressions are intended to identify forward looking statements.
In particular,
this press release contains forward looking statements concerning the Company's exploration plans.
Although the Company believes that the expectations and assumptions on which the forward-looking
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Since
forward looking statements address future events and conditions, they involve inherent assumptions,
risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of assumptions, factors and risks.
These assumptions and risks include, but are not limited
to, assumptions and risks associated with conditions in the equity financing markets, and
assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking
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The Company's actual results, performance or achievement
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accordingly, no assurance can be given that any of the events anticipated by the forward-looking
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