Mr. Tim McCutcheon reports

KENADYR PROVIDES CORPORATE UPDATES

Kenadyr Metals Corp. has provided the following corporate updates.

Transfer to NEX

As a result of no longer meeting continuous listing requirements for a Tier 2 Company on the TSX-V, the listing of the Company's shares will be transferred from the TSX-V to the NEX Board of the TSX-V ("NEX"). Effective as of market open on Monday, October 23, 2023, the Company's listing will transfer to NEX and its trading symbol will be changed from "KEN" to "KEN.H".

There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX-V.

Director Appointment

Kenadyr is also pleased to announce the appointment of Jonathan Yan to the Company's Board of Directors, effective August 30, 2023.

Mr. Yan, CPA, CA holds a Diploma in Accounting and a Bachelor of Science Degree from the University of British Columbia. Mr. Yan has 10 years of experience in audit and accounting for various private and publicly listed Canadian companies. He is currently the Chief Financial Officer of Axcap Ventures Inc (CSE: AXCP), First Uranium Resources Ltd. (CSE: URNM), and Peak Minerals Ltd (CSE: PEK).

Sale of Subsidiary

The Company announces that it has entered into an agreement dated effective September 27, 2023 to sell its wholly-owned subsidiary Kenadyr Mining Corporation to an arm's length third party for US$1 million, subject to certain closing conditions, including shareholder and NEX approvals. Kenadyr Mining Corporation owns 100% of the Borubai gold project in the Kyrgyz Republic.

AGM Update

Kenadyr also announces that it has received approval from the British Columbia Registrar of Companies to extend the time within which the Company is required to hold its 2023 Annual General Meeting (the "2023 AGM") to December 30, 2023. The Company has filed a notice of meeting and record date to hold the 2023 AGM on December 7, 2023. At the 2023 AGM, shareholders will be asked to approve the sale of Kenadyr Mining Corporation, as described above.

We seek Safe Harbor.