17:24:53 EDT Fri 12 Jun 2026
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or Name
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Makenita Resources Inc
Symbol KENY
Shares Issued 41,235,996
Close 2026-06-11 C$ 0.19
Market Cap C$ 7,834,839
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Makenita increases Serpentinization to 116,149 acres

2026-06-12 10:41 ET - News Release

Mr. Jason Gigliotti reports

MAKENITA RESOURCES MORE THAN DOUBLES ITS SASKATCHEWAN SERPENTINIZATION IRON-MAGNETITE PROJECT TO 116,149 CONTIGUOUS ACRES

Makenita Resources Inc. has more than doubled its Serpentinization iron-magnetite project in Saskatchewan, growing the contiguous land package from 51,304 acres to a district-sized 116,149 acres. The project directly borders Max Power Mining Corp. and is prospective for iron and magnetite. Management is currently formulating plans to commence work as soon as possible.

Highlights:

  • Land package expansion: Makenita Resources has more than doubled its Serpentinization iron-magnetite project in Saskatchewan from 51,304 to 116,149 contiguous acres, directly bordering Max Power.
  • Prospective commodities: The project targets iron and magnetite, with additional upside potential for naturally occurring hydrogen production by stimulating iron-rich magnetite formations through serpentinization.
  • Tight share structure: With just over 35 million shares outstanding, management sees meaningful leverage to any exploration success and anticipates an active remainder of 2026 across multiple projects.

Jason Gigliotti, president of Makenita Resources, commented: "Makenita is in a significant period of corporate growth. We have just added substantial acreage, making our land package in Saskatchewan -- directly bordering Max Power Corp. -- district size at 116,149 contiguous acres. MAXX recently completed a financing with Eric Sprott, who now owns approximately 19 per cent of MAXX, showing the strong institutional investment appetite for this region. The project offers strong prospectivity for iron and magnetite and, in certain situations where large iron formations are rich in magnetite, that formation can be stimulated to produce naturally occurring hydrogen. Makenita is entering the most active period of growth in the company's history, and we have just added additional marketing to assist in getting the story out to a larger audience. Makenita has just over 35 million shares outstanding, so any success in the ground could have an outsized impact on the company. Management is very optimistic about the short- and long-term objectives and goals of Makenita, and we plan to work as hard as possible for our shareholders."

Qualified person

The technical contents of this release were reviewed and approved by Frank Bain, PGeo, independent of the company and qualified person as defined by National Instrument 43-101.

About Makenita Resources Inc.

Makenita currently has several projects located in Canada, including the 116,149-contiguous-acre Serpentinization iron-magnetite project in Saskatchewan bordering Max Power. Makenita also has the 9,845-contiguous-acre Sisson West tungsten project, prospective for tungsten in New Brunswick, directly bordering Northcliff Resources Ltd.'s Sisson tungsten mine; as well as the approximately 9,000-acre NTX rare earth project in Quebec, prospective for rare earths. Lastly, Makenita has the 5,542-acre Hector project in the vicinity of Cobalt, Ont., which is prospective for cobalt, silver and diamonds. Management cautions that past results or discoveries on properties in proximity to Makenita may not necessarily be indicative of the presence of mineralization on the company's properties.

This land was acquired by staking.

We seek Safe Harbor.

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