# Kodiak Reaches Key Milestone with Initial Mineral Resource Estimate at the MPD Copper-Gold Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780 Original source: https://money.tmx.com/en/quote/KDK/news/6579056058079343/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c Publisher: tmx Original announcement: 2025-12-09T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Kodiak Copper Corp. - Ticker: KDK - Exchange: TSX - Region: British Columbia - Primary commodity: Copper - Secondary commodities: Gold, Silver - Document categories: Resource update - Extracted: 2026-09-16 07:12:16 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Kodiak Copper Corp. announced an initial Mineral Resource Estimate for its 100%-owned MPD copper-gold project in British Columbia. The MRE includes 82.9 million tonnes of Indicated Resources grading 0.39% CuEq and 356.3 million tonnes of Inferred Resources grading 0.32% CuEq. The estimate highlights the project's large scale, open-pit potential, and grades consistent with leading copper porphyry projects in North America. Reasoning: Kodiak Copper announced a significant initial Mineral Resource Estimate for its MPD copper-gold project, demonstrating large scale, open-pit potential, and grades consistent with leading North American porphyry projects, with full NI 43-101 compliance and transparent reporting. - Positive factor: large scale - Positive factor: open-pit potential - Positive factor: shallow mineralization - Positive factor: high-grade from surface - Positive factor: strong growth potential - Positive factor: grades consistent with leading copper porphyry projects - Positive factor: strategic location - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Positive factor: cut-off grade disclosed - Negative factor: significant inferred resource component Facts used in scoring: 48 ## Classification and evidence **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The document explicitly states this is an 'initial Mineral Resource estimate' and 'maiden Resource'. Evidence · text > initial Mineral Resource estimate **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate was prepared in accordance with 'National Instrument 43-101 Standards of Disclosure for Mineral Projects \(NI 43-101\)'. Evidence · text > National Instrument 43-101 Standards of Disclosure for Mineral Projects \(NI 43-101\) **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: James N. Gray, P.Geo., Tysen Hantelmann, P.Eng., and Shane Tad Crowie, P.Eng., are named as independent Qualified Persons who prepared and approved the MRE. Evidence · text > 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. **Metal Equivalent Assumptions Disclosed** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document explicitly states the metal prices and recovery assumptions used for the copper equivalent calculation. Evidence · text > Copper equivalence \(CuEq\) and constraining pit shells assume metal prices \(US$\) of: $4.2/lb copper, $2,600/oz gold, $30/oz silver. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The MRE is explicitly defined using a cut-off grade of 0.2% CuEq. Evidence · text > The MRE is defined using a cut-off grade of 0.2% CuEq. **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: A significant portion of the total resource, 356.3 million tonnes, is classified as Inferred Mineral Resource. Evidence · text > Total Inferred Mineral Resource: 356.3 million tonnes \(Mt\) **Open Pit Mining Method** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The MRE is described as a 'Large, open-pit copper-gold initial Mineral Resource estimate'. Evidence · text > Large, open-pit copper-gold initial Mineral Resource estimate ## Extracted facts Stored fact records: 48. Some facts used in scoring do not have a stored record. ## Resource Estimates (48) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-0) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:9eb2ea08c96c7a1e27f2 - Deposit or zone: Gate #### Resource Data - Category: indicated - Tonnes: 56400000 - Grade: 0.31 - Grade Unit: % - Contained Metal: 385 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported indicated resource for copper at the Gate zone, showing good tonnage and grade for a porphyry deposit. - Positive factor: significant tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: previously reported Evidence · table > 0.31 Context: 56.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-1) MPD copper-gold project · gold Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:9eb2ea08c96c7a1e27f2 - Deposit or zone: Gate #### Resource Data - Category: indicated - Tonnes: 56400000 - Grade: 0.14 - Grade Unit: g/t - Contained Metal: 0.25 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported indicated resource for gold at the Gate zone, contributing to the overall project value. - Positive factor: significant contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: previously reported Evidence · table > 0.14 Context: 56.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-2) MPD copper-gold project · silver Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:9eb2ea08c96c7a1e27f2 - Deposit or zone: Gate #### Resource Data - Category: indicated - Tonnes: 56400000 - Grade: 1.18 - Grade Unit: g/t - Contained Metal: 2.14 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported indicated resource for silver at the Gate zone, adding to the polymetallic nature of the project. - Positive factor: significant contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: previously reported Evidence · table > 1.18 Context: 56.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-3) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:9eb2ea08c96c7a1e27f2 - Deposit or zone: Gate #### Resource Data - Category: indicated - Tonnes: 56400000 - Contained Metal: 522 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.42 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported indicated resource for copper equivalent at the Gate zone, demonstrating the overall value of the polymetallic mineralization. - Positive factor: significant contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: previously reported Evidence · table > 0.42 Context: 56.4 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-4) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46d5cc01c1e480774e25 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 14200000 - Grade: 0.21 - Grade Unit: % - Contained Metal: 66 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for copper at the West zone, contributing to the overall initial MRE with good grade and confidence. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.21 Context: 14.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-5) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46d5cc01c1e480774e25 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 14200000 - Grade: 0.24 - Grade Unit: g/t - Contained Metal: 0.11 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for gold at the West zone, adding to the polymetallic nature of the project. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: significant contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.24 Context: 14.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-6) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46d5cc01c1e480774e25 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 14200000 - Grade: 0.8 - Grade Unit: g/t - Contained Metal: 0.37 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for silver at the West zone, further enhancing the project's polymetallic profile. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: significant contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.80 Context: 14.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-7) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46d5cc01c1e480774e25 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 14200000 - Contained Metal: 116 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.37 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for copper equivalent at the West zone, adding to the overall project value with transparent reporting. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: significant contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed Evidence · table > 0.37 Context: 14.2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-8) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46ec4bcf6d30a40afac4 - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12300000 - Grade: 0.25 - Grade Unit: % - Contained Metal: 68 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for copper at the South zone, contributing to the overall initial MRE with good grade and confidence. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.25 Context: 12.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-9) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46ec4bcf6d30a40afac4 - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12300000 - Grade: 0.07 - Grade Unit: g/t - Contained Metal: 0.03 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for gold at the South zone, adding to the polymetallic nature of the project. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.07 Context: 12.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-10) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46ec4bcf6d30a40afac4 - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12300000 - Grade: 1.17 - Grade Unit: g/t - Contained Metal: 0.46 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for silver at the South zone, further enhancing the project's polymetallic profile. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 1.17 Context: 12.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-11) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:46ec4bcf6d30a40afac4 - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 12300000 - Contained Metal: 82 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.3 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported indicated resource for copper equivalent at the South zone, adding to the overall project value with transparent reporting. - Positive factor: newly reported resource - Positive factor: indicated category - Positive factor: significant contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed Evidence · table > 0.30 Context: 12.3 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-12) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:8f65555d422d4a08e60d - Deposit or zone: Gate #### Resource Data - Category: inferred - Tonnes: 114500000 - Grade: 0.27 - Grade Unit: % - Contained Metal: 681 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper at the Gate zone, indicating significant potential but with lower geological confidence. - Positive factor: large tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.27 Context: 114.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-13) MPD copper-gold project · gold Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:8f65555d422d4a08e60d - Deposit or zone: Gate #### Resource Data - Category: inferred - Tonnes: 114500000 - Grade: 0.13 - Grade Unit: g/t - Contained Metal: 0.48 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for gold at the Gate zone, contributing to the overall project potential but with lower confidence. - Positive factor: significant contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.13 Context: 114.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-14) MPD copper-gold project · silver Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:8f65555d422d4a08e60d - Deposit or zone: Gate #### Resource Data - Category: inferred - Tonnes: 114500000 - Grade: 1.07 - Grade Unit: g/t - Contained Metal: 3.94 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for silver at the Gate zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: significant contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 1.07 Context: 114.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-15) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:8f65555d422d4a08e60d - Deposit or zone: Gate #### Resource Data - Category: inferred - Tonnes: 114500000 - Contained Metal: 909 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.36 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper equivalent at the Gate zone, indicating significant overall potential but with lower geological confidence. - Positive factor: large contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.36 Context: 114.5 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-16) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:3a5c1f9398d0ca9f97c9 - Deposit or zone: Ketchan #### Resource Data - Category: inferred - Tonnes: 66000000 - Grade: 0.24 - Grade Unit: % - Contained Metal: 349 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper at the Ketchan zone, indicating potential but with lower geological confidence. - Positive factor: significant tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.24 Context: 66.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-17) MPD copper-gold project · gold Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:3a5c1f9398d0ca9f97c9 - Deposit or zone: Ketchan #### Resource Data - Category: inferred - Tonnes: 66000000 - Grade: 0.12 - Grade Unit: g/t - Contained Metal: 0.25 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for gold at the Ketchan zone, contributing to the overall project potential but with lower confidence. - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.12 Context: 66.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-18) MPD copper-gold project · silver Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:3a5c1f9398d0ca9f97c9 - Deposit or zone: Ketchan #### Resource Data - Category: inferred - Tonnes: 66000000 - Grade: 1.09 - Grade Unit: g/t - Contained Metal: 2.31 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for silver at the Ketchan zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 1.09 Context: 66.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-19) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:3a5c1f9398d0ca9f97c9 - Deposit or zone: Ketchan #### Resource Data - Category: inferred - Tonnes: 66000000 - Contained Metal: 480 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.33 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper equivalent at the Ketchan zone, indicating significant overall potential but with lower geological confidence. - Positive factor: significant contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.33 Context: 66.0 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-20) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:25cebe740e184a3b4247 - Deposit or zone: Dillard #### Resource Data - Category: inferred - Tonnes: 51900000 - Grade: 0.2 - Grade Unit: % - Contained Metal: 229 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper at the Dillard zone, indicating potential but with lower geological confidence. - Positive factor: significant tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.20 Context: 51.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-21) MPD copper-gold project · gold Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:25cebe740e184a3b4247 - Deposit or zone: Dillard #### Resource Data - Category: inferred - Tonnes: 51900000 - Grade: 0.09 - Grade Unit: g/t - Contained Metal: 0.15 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for gold at the Dillard zone, contributing to the overall project potential but with lower confidence. - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.09 Context: 51.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-22) MPD copper-gold project · silver Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:25cebe740e184a3b4247 - Deposit or zone: Dillard #### Resource Data - Category: inferred - Tonnes: 51900000 - Grade: 0.39 - Grade Unit: g/t - Contained Metal: 0.65 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for silver at the Dillard zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.39 Context: 51.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-23) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:25cebe740e184a3b4247 - Deposit or zone: Dillard #### Resource Data - Category: inferred - Tonnes: 51900000 - Contained Metal: 298 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.26 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper equivalent at the Dillard zone, indicating overall potential but with lower geological confidence. - Positive factor: contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.26 Context: 51.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-24) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:96d408e39b8eeacaa974 - Deposit or zone: Man #### Resource Data - Category: inferred - Tonnes: 8300000 - Grade: 0.17 - Grade Unit: % - Contained Metal: 31 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper at the Man zone, indicating potential but with lower grade and confidence. - Positive factor: contained copper - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: lower grade - Negative factor: previously reported Evidence · table > 0.17 Context: 8.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-25) MPD copper-gold project · gold Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:96d408e39b8eeacaa974 - Deposit or zone: Man #### Resource Data - Category: inferred - Tonnes: 8300000 - Grade: 0.3 - Grade Unit: g/t - Contained Metal: 0.08 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for gold at the Man zone, contributing to the overall project potential but with lower confidence. - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.30 Context: 8.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-26) MPD copper-gold project · silver Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:96d408e39b8eeacaa974 - Deposit or zone: Man #### Resource Data - Category: inferred - Tonnes: 8300000 - Grade: 0.56 - Grade Unit: g/t - Contained Metal: 0.15 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for silver at the Man zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.56 Context: 8.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-27) MPD copper-gold project · copper Historical result Needs review: historical\_restatement #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-06-25T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:96d408e39b8eeacaa974 - Deposit or zone: Man #### Resource Data - Category: inferred - Tonnes: 8300000 - Contained Metal: 68 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.37 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2025-06-25T00:00:00.000Z #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a previously reported inferred resource for copper equivalent at the Man zone, indicating overall potential but with lower geological confidence. - Positive factor: contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category - Negative factor: previously reported Evidence · table > 0.37 Context: 8.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-28) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bd8ea665c755435e3821 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 24700000 - Grade: 0.22 - Grade Unit: % - Contained Metal: 120 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for copper at the West zone, indicating significant potential but with lower geological confidence. - Positive factor: newly reported resource - Positive factor: significant tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.22 Context: 24.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-29) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bd8ea665c755435e3821 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 24700000 - Grade: 0.2 - Grade Unit: g/t - Contained Metal: 0.16 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for gold at the West zone, contributing to the overall project potential but with lower confidence. - Positive factor: newly reported resource - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.20 Context: 24.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-30) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bd8ea665c755435e3821 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 24700000 - Grade: 0.77 - Grade Unit: g/t - Contained Metal: 0.61 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for silver at the West zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: newly reported resource - Positive factor: contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.77 Context: 24.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-31) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bd8ea665c755435e3821 - Deposit or zone: West - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 24700000 - Contained Metal: 196 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.36 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for copper equivalent at the West zone, indicating overall potential but with lower geological confidence. - Positive factor: newly reported resource - Positive factor: contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category Evidence · table > 0.36 Context: 24.7 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-32) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:195303cdeb1dbf662e35 - Deposit or zone: Adit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 20100000 - Grade: 0.34 - Grade Unit: % - Contained Metal: 151 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for copper at the Adit zone, indicating significant potential with good grade but lower geological confidence. - Positive factor: newly reported resource - Positive factor: significant tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.34 Context: 20.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-33) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:195303cdeb1dbf662e35 - Deposit or zone: Adit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 20100000 - Grade: 0.03 - Grade Unit: g/t - Contained Metal: 0.02 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for gold at the Adit zone, contributing to the overall project potential but with lower grade and confidence. - Positive factor: newly reported resource - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: low gold grade Evidence · table > 0.03 Context: 20.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-34) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:195303cdeb1dbf662e35 - Deposit or zone: Adit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 20100000 - Grade: 2.79 - Grade Unit: g/t - Contained Metal: 1.8 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for silver at the Adit zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: newly reported resource - Positive factor: significant contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 2.79 Context: 20.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-35) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:195303cdeb1dbf662e35 - Deposit or zone: Adit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 20100000 - Contained Metal: 168 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.38 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for copper equivalent at the Adit zone, indicating overall potential but with lower geological confidence. - Positive factor: newly reported resource - Positive factor: contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category Evidence · table > 0.38 Context: 20.1 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-36) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ce4bce467d3c97a9191e - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 70900000 - Grade: 0.21 - Grade Unit: % - Contained Metal: 328 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for copper at the South zone, indicating significant potential but with lower geological confidence. - Positive factor: newly reported resource - Positive factor: large tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.21 Context: 70.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-37) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ce4bce467d3c97a9191e - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 70900000 - Grade: 0.06 - Grade Unit: g/t - Contained Metal: 0.14 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for gold at the South zone, contributing to the overall project potential but with lower grade and confidence. - Positive factor: newly reported resource - Positive factor: contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category - Negative factor: low gold grade Evidence · table > 0.06 Context: 70.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-38) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ce4bce467d3c97a9191e - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 70900000 - Grade: 1.25 - Grade Unit: g/t - Contained Metal: 2.85 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for silver at the South zone, adding to the polymetallic nature of the project but with lower confidence. - Positive factor: newly reported resource - Positive factor: contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 1.25 Context: 70.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-39) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ce4bce467d3c97a9191e - Deposit or zone: South - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 70900000 - Contained Metal: 406 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.26 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: This is a newly reported inferred resource for copper equivalent at the South zone, indicating overall potential but with lower geological confidence. - Positive factor: newly reported resource - Positive factor: contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category Evidence · table > 0.26 Context: 70.9 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-40) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bfb04c1b1fd7fe5696ca - Deposit or zone: Total Indicated - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 82900000 - Grade: 0.28 - Grade Unit: % - Contained Metal: 519 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The total indicated resource for copper represents a significant and confident portion of the initial MRE, supporting future economic evaluations. - Positive factor: large total indicated tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.28 Context: 82.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-41) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bfb04c1b1fd7fe5696ca - Deposit or zone: Total Indicated - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 82900000 - Grade: 0.15 - Grade Unit: g/t - Contained Metal: 0.39 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The total indicated resource for gold adds substantial value to the polymetallic project with high confidence. - Positive factor: significant total contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 0.15 Context: 82.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-42) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bfb04c1b1fd7fe5696ca - Deposit or zone: Total Indicated - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 82900000 - Grade: 1.11 - Grade Unit: g/t - Contained Metal: 2.97 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The total indicated resource for silver further enhances the project's polymetallic profile with high confidence. - Positive factor: significant total contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off Evidence · table > 1.11 Context: 82.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-43) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:bfb04c1b1fd7fe5696ca - Deposit or zone: Total Indicated - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 82900000 - Contained Metal: 719 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.39 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The total indicated resource for copper equivalent represents a significant and confident portion of the initial MRE, supporting future economic evaluations with transparent reporting. - Positive factor: large total contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed Evidence · table > 0.39 Context: 82.9 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-44) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ef1caa72e689a85af1fd - Deposit or zone: Total Inferred - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 356300000 - Grade: 0.24 - Grade Unit: % - Contained Metal: 1889 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The very large total inferred resource for copper indicates significant future potential for the project, though with lower geological confidence. - Positive factor: very large total inferred tonnage - Positive factor: good grade for porphyry - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.24 Context: 356.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-45) MPD copper-gold project · gold #### Identity - Project: MPD copper-gold project - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ef1caa72e689a85af1fd - Deposit or zone: Total Inferred - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 356300000 - Grade: 0.11 - Grade Unit: g/t - Contained Metal: 1.28 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The large total inferred resource for gold indicates significant future potential for the project, though with lower geological confidence. - Positive factor: large total contained gold - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 0.11 Context: 356.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-46) MPD copper-gold project · silver #### Identity - Project: MPD copper-gold project - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ef1caa72e689a85af1fd - Deposit or zone: Total Inferred - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 356300000 - Grade: 1.07 - Grade Unit: g/t - Contained Metal: 12.31 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The large total inferred resource for silver indicates significant future potential for the project, though with lower geological confidence. - Positive factor: large total contained silver - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Negative factor: inferred category Evidence · table > 1.07 Context: 356.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/kodiak-reaches-key-milestone-with-initial-mineral-resource-estimate-at-the-mpd-c--82275d74-d61e-474c-9a03-277e8c456780#fact-resource-facts-47) MPD copper-gold project · copper #### Identity - Project: MPD copper-gold project - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: KDK #### Resource scope - Estimate type: resource - Effective date: 2025-12-09T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: James N. Gray, Tysen Hantelmann, Shane Tad Crowie, Dave Skelton - Resource group id: resource:ef1caa72e689a85af1fd - Deposit or zone: Total Inferred - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 356300000 - Contained Metal: 2524 - Contained Unit: mlbs - Cutoff Grade: 0.2 - Cutoff Unit: % CuEq #### Metal Equivalent - Metal Eq. Grade: 0.32 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-09T00:00:00.000Z Reasoning: The very large total inferred resource for copper equivalent indicates significant future potential for the project, though with lower geological confidence. - Positive factor: very large total contained metal equivalent - Positive factor: NI 43-101 compliant - Positive factor: QP sign-off - Positive factor: metal equivalent assumptions disclosed - Negative factor: inferred category Evidence · table > 0.32 Context: 356.3 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.