Figure 1: Kodiak Copper and peers by market cap as of 8/29/25 with approximate indicated tonnage and grade.

Criteria for Peer Comparison:

  • Commodity Focus: All three companies focus on copper-gold porphyry projects, with copper as the primary economic driver

  • Project Stage: Exploration to early development, with published NI 43-101 resources (Kodiak: ~300 Mt ; Northisle: 606 Mt; Faraday: 421 Mt).

  • Jurisdiction: North America (Kodiak and Northisle in British Columbia, Canada; Faraday in Arizona, USA), offering stable regulatory environments.

  • Market Cap Range: Junior miners with market caps in a comparable range (Kodiak: ~C$50M; Northisle: ~C$301M; Faraday: ~C$277M), reflecting similar investor profiles.

  • Published Resources: All have transparent NI 43-101 compliant resources, enabling direct comparison of tonnage and grade.

The following chart reflects Kodiak's current numbers for their maiden mineral resource estimate. Kodiak is developing the second half of their estimate for Q4 publishing, and the expectation is that these numbers will grow considerably.

Figure 2: Kodiak and peers with measured, indicated and inferred resource figures.