Mr. Zach Flood reports

KENORLAND COMMENCES 2025 WINTER DRILL PROGRAM AT THE CHEBISTUAN PROJECT, QUEBEC

Kenorland Minerals Ltd. has begun the winter 2025 drill program at the Chebistuan project, located in the northern Abitibi greenstone belt of Quebec, and held under an exploration agreement with Newmont Corp.

First quarter 2025 winter exploration program

The winter 2025 exploration program and budget have been approved by Newmont, which will include up to 3,500 m of drilling across nine drill holes at the Deux Orignaux target area. This second phase of drilling, follow-up to the initial program completed in early 2023, will test lateral and down-dip extensions of the mineralized syenite intersected in drill hole 23DODD005, which returned 157.2 metres at 0.41 gram per tonne gold, including 20.61 m at 0.97 g/t Au (see press release dated June 27, 2023). The program will also test additional targets, identified as potential syenite plugs based on geophysical characteristics. Kenorland remains the operator of the project, and drilling activities are expected to conclude early March.

Deux Orignaux target area

The Deux Orignaux target area is a grassroots prospect under an earn-in agreement with Newmont. Systematic, property-wide geochemical surveys completed in 2020, covering the original 159,690-hectare project, and detailed till geochemical surveys in 2021 defined the target area containing anomalous gold and multielement geochemistry, and gold grains in glacial overburden. The defined target area was followed up with a detailed airborne magnetics survey, and an induced polarization (IP) survey in 2022 ahead of drill targeting.

The mineralized intrusion at Deux Orignaux, defined by coincident resistivity, chargeability and magnetic anomalies, was intersected along the regional contact between a clastic sedimentary basin (Opemiska group) and volcanic rocks, marked by a first-order, basin-bounding structure and Timiskaming-type polymictic conglomerates. The intrusion is mineralized throughout with minor disseminated pyrite and trace sphalerite associated with pervasive potassic and albite alteration (potassium-feldspar-albite-quartz-hematite-carbonate-sericite alteration assemblage).

About the Chebistuan project

The Chebistuan project was acquired by Kenorland through map staking in December, 2019, and was optioned to Newmont in July, 2020. Since completing property-wide geochemical surveys in 2020, covering the original 159,690-hectare project, land tenure has been reduced in size to encompass the Deux Orignaux prospect, regional targets and prospective structures. The property is located along a major east-west-trending deformation zone which may represent the continuation of the Sunday Lake deformation zone, host to major gold deposits such as Detour Lake (Agnico Eagle Mines Ltd.) and Fenelon (Wallbridge Mining Company Ltd.). The Chibougamau and Chapais mining camps, which have produced over 6.5 million ounces of gold and 1.6 billion pounds of copper historically, are located directly to the east of the Chebistuan property. The project is largely covered with glacial till and is accessed through a network of logging roads and by helicopter.

The project is under an exploration agreement dated July 17, 2020, with a venture option with Newmont. The exploration agreement is currently in the phase 2 stage since Newmont has completed all requirements to earn a 51-per-cent interest in the project within the initial phase of the exploration agreement. Within the phase 1 earn-in stage, approximately 6,250 B horizon soils (glacial till substrate) and 190 HMC till samples were collected property wide, which led to high-resolution geophysical surveys and an initial drill test at the Deux Orignaux target completed between 2020 and 2023. Newmont currently has the option to earn an additional 29-per-cent interest, for a cumulative 80-per-cent interest, in the project over six years by defining a 1.5-million-gold-ounce resource through a prefeasibility-stage study in line with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, as well as making certain cash payments to Kenorland. The parties may continue to explore and develop the property through a Newmont-Kenorland joint venture (80 per cent and 20 per cent, respectively) or, in the case of a construction decision, Kenorland can elect for Newmont to finance its portion of mine development cost. If Newmont elects not to continue with the phase 2 earn-in, ownership interest in the project can switch to 51 per cent Kenorland and 49 per cent Newmont.

Qualified person

Cedric Mayer, MSc, PGeo (OGQ No. 02385), a qualified person under NI 43-101, has reviewed and approved the scientific and technical information in this press release.

About Kenorland Minerals Ltd.

Kenorland Minerals is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. Kenorland's exploration strategy is to advance greenfields projects through systematic, property-wide, phased exploration surveys financed primarily through exploration partnerships, including option-to-joint-venture agreements. Kenorland holds a 4-per-cent net smelter return royalty on the Frotet project in Quebec, which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada in 2020. Kenorland is based in Vancouver, B.C., Canada.

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