Mr. Zach Flood reports

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

Kenorland Minerals Ltd. has commenced the maiden diamond drill program at the Hunter project, located in the southern Abitibi greenstone belt of Quebec and held under an option agreement with Centerra Gold Inc.

2025 winter exploration program

The winter 2025 exploration campaign and budget have been approved by Centerra for the maiden drill program at the Hunter project. The program will include up to 4,300 metres of diamond drilling as an initial test of the targets identified through systematic exploration carried out since 2021. Two phases of drill-for-till sonic drilling in 2022 and 2024 identified a large multielement gold-copper-molybdenum-silver-tungsten-bismuth geochemical anomaly, both in glacial till and bedrock sampling over a 3.5-by-2.0-kilometre footprint, where bedrock alteration remains fully concealed beneath thick overburden. Kenorland remains operator of the project, with drilling activities expected to conclude in early April.

Priority target area

Systematic, property-wide exploration at the Hunter project included a VTEM survey flown in 2021, followed by a drill-for-till sonic program completed in 2022. Priority target areas identified for follow-up were advanced through the completion of a high-resolution airborne magnetics survey in 2023 and a detailed sonic drill program and induced polarization survey in 2024 ahead of drill targeting.

Underlying geology of the target area includes stratigraphy dominated by felsic volcanic rocks, which are intruded by multiple felsic-intermediate porphyritic intrusive rock phases. These intrusive phases are focused within an interpreted north-south-trending structural corridor co-eval with the synvolcanic Poularies batholith. Widespread silica-epidote-sericite plus or minus K-feldspar alteration within both volcanic and intrusive rocks is associated with variable quartz, quartz-sulphide and sulphide veining. Sulphide mineralization includes pyrite with lesser chalcopyrite and molybdenite, occurring as fine-grained disseminations to vein controlled blebs and stringers. Mineralization within the target area is interpreted to be intrusion related, which may be synvolcanic (disseminated sulphide to volcanogenic massive sulphide type mineral systems), or related to younger magmatism similar to the Duparquet gold deposit 6.5 kilometres to the south, located along the Destor-Porcupine fault zone.

About the Hunter project

The Hunter project covers 19,262 hectares of mineral tenure over a felsic volcanic complex within the southern Abitibi greenstone belt. These complexes are highly prospective for synvolcanic intrusion related to Au VMS type systems, such as the world-class Horne and LaRonde deposits. The southern margin of the property is underlain by a regional east-west-trending high-strain structural corridor and a splay structure off the Destor-Porcupine fault zone, prospective for orogenic gold mineralization. The property is dominantly covered by glacial till and lake sediments, resulting in sparse bedrock exposure with very little systematic exploration due to the challenges of exploring through thick glacial sedimentary cover.

The Hunter project is held under an option to joint venture agreement with Centerra. Pursuant to the agreement, Centerra can earn an initial 51-per-cent interest in the project by incurring an aggregate of $5-million in mineral exploration expenditures on or before the fourth anniversary of the agreement. Centerra can then earn an additional 19-per-cent interest in the project for an aggregate 70-per-cent interest by completing a technical report that establishes a mineral resource of at least one million ounces of gold equivalent on or before the fourth anniversary of the exercise of the first option, provided that Centerra must provide notice of its intent to exercise the second option within 90 days of the first option exercise. Following the earning of a 70-per-cent interest, Centerra and Kenorland will form a joint venture in respect of the project. In the event a joint venture participant's interest is diluted to below 10 per cent, it will exchange its joint venture interest for a net smelter return royalty of 2 per cent on currently unencumbered claims and 1.5 per cent on claims currently encumbered by an existing royalty.

Qualified person

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

About Kenorland Minerals Ltd.

Kenorland 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 greenfield 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 greenfield discovery made by Kenorland and Sumitomo Metal Mining in 2020. Kenorland is based in Vancouver, B.C., Canada.

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