Mr. Zach Flood reports

KENORLAND ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Kenorland Minerals Ltd. has obtained the approval of the TSX Venture Exchange for a new normal course issuer bid (NCIB). The NCIB will commence on April 10, 2025, and terminate on the earliest to occur of: (i) April 9, 2026; (ii) the date on which the maximum number of shares that can be acquired pursuant to the NCIB have been purchased; or (iii) such earlier date on which the company provides notice of termination of the NCIB.

Under the NCIB, Kenorland may purchase up to 3,875,552 common shares, representing approximately 5 per cent of the shares outstanding as at March 31, 2025. Over any 30-day period, Kenorland will not purchase more than 1,550,221 shares in total, representing 2 per cent of the shares issued and outstanding as of March 31, 2025.

All purchases of the shares are to be made through the facilities of the TSX-V or alternative Canadian trading systems, in accordance with its rules and regulations. The price which the company will pay for any such shares will be the prevailing market price at the time of acquisition, and all shares will be purchased for cancellation.

The company has again engaged Haywood Securities Inc. to act as its broker for the NCIB. The NCIB will be made through the facilities of the TSX-V, and the purchase and payment for the shares will be made from the company's existing working capital at the market price of the applicable securities at the time of acquisition, plus brokerage fees, if any, charged by the broker. The price which the company will pay for any such shares will be the prevailing market price at the time of acquisition, and all shares will be purchased for cancellation.

The actual number of shares that may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by the management of the company.

The board of directors believes the underlying value of the company may not be reflected in the current market price of its shares. As a result, depending upon future price movements and other factors, the board believes that the shares may represent an attractive investment to the company and their purchase is an appropriate use of the company's financial resources and in the best interests of the company and its shareholders. Furthermore, the purchases are expected to benefit all persons who continue to hold shares by increasing their equity interest in the company if the repurchased shares are cancelled.

To the company's knowledge, none of the directors, senior officers or insiders of the company, or any associate of such person, or any associate or affiliate of the company, has any present intention to sell any securities to the company during the course of the NCIB. However, sales by such persons through the facilities of the TSX-V or any other available market or alternative trading system in Canada may occur if the personal circumstances of any such person change or if any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.

Under its current NCIB, which expired on April 7, 2025, the company received approval from the TSX-V to purchase for cancellation a total of 3,218,420 shares, of which no shares have been purchased thereunder. The company has not previously purchased for cancellation any of its outstanding shares.

A copy of the Form 5G -- Notice of Intention to make a Normal Course Issuer Bid, filed by the company with the TSX-V in respect of the NCIB can be obtained, without charge, from the company upon request.

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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