Mr. Michael Thompson reports

KESSELRUN RESOURCES REPORTS SURFACE SAMPLE RESULTS AND NEW ZONE

Kesselrun Resources Ltd. has released sampling results and a new interpretation from the southwestern extent of the McKellar mineralization trend.

Highlights:

• New interpretation of McKellar West area;
• Two separate parallel zones, McKellar West and Minoletti, increase exploration potential;
• Confirmation of McKellar West mineralization trend to the west property boundary.

The results returned from the McKellar West target area positively identified the strike extent of the McKellar West zone, extending it to the far-west property boundary, as well as identifying a new parallel zone. There is now approximately 1,400 metres of untested strike extent of the McKellar West zone, as well as numerous kilometres of potential on the parallel Minoletti zone. With this new information, the Kesselrun team will also be looking at the potential for parallel zones elsewhere on the property.

Michael Thompson, PGeo, president and chief executive officer of the company, commented: "The detailed UAV magnetic survey and follow-up boots on the ground has enabled the Kesselrun team to reinterpret the far-western extents of the Huronian gold trend. What had previously been interpreted as one zone, over 50 years ago, has now been confirmed as two separate zones. This parallel zone, and the possibility of other similar zones throughout the property, increases the exploration potential immensely. This is especially significant considering Goldshore's resource expansion targets on parallel zones to their main mineralization."

Summary of 2024 Huronian work campaign

Multiple crews were mobilized to the Huronian project during the summer and fall of 2024 to execute a UAV-based (unmanned aerial vehicle) magnetic survey, as well as follow up mapping and sampling on selected targets, among which were those derived from the magnetic survey.

The UAV magnetic survey was performed over the McKellar West, Huronian North, Span North, Span South and Moss South target areas. Follow-up mapping and sampling were done on McKellar West, Span South and Moss South.

2025 exploration plan

With the new results from the 2024 summer and fall programs, Kesselrun plans to do further follow-up work on selected target areas to get them drill ready in anticipation of initiating a drill program later in 2025.

About the Huronian gold project

The 100-per-cent-owned Huronian gold project hosts the past-producing Huronian mine, Northwestern Ontario's first gold mine with a historical resource estimate of 44,592 ounces (oz) gold (Au) at an average grade of 15.3 grams per tonne (g/t) Au in the indicated category and 501,377 oz Au at an average grade of 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian project is historical in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources does not treat this as a current mineral resource but considers it relevant as a guide to future exploration and includes it for reference purposes only. The historical resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun to verify the historic estimate as a current mineral resource.

As well, the Huronian gold project hosts the same lithological package of rocks, as interpreted from both government of Ontario, and Kesselrun mapping, compilation and modelling, on strike from the adjacent Moss gold project, with a National Instrument 43-101-compliant resource estimate of 1.23 million oz Au at an average grade of 1.22 g/t Au in the indicated category and 4.92 million oz Au at an average grade of 1.09 g/t Au in the inferred category (1). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun's property.

(1) Goldshore Resources Inc. news release dated Feb. 6, 2024.

Qualified person

Michael Thompson, PGeo, president and CEO of Kesselrun, is the qualified person responsible for the project as defined by NI 43-101 and has approved the technical information in this news release.

About Kesselrun Resources Ltd.

Based in Thunder Bay, Ont., Kesselrun is a mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise in Northwestern Ontario.

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