Mr. Zach Flood reports

KENORLAND AND AURANOVA ANNOUNCE COMPLETION OF FALL DRILL PROGRAM AT THE SOUTH UCHI PROJECT, ONTARIO

Kenorland Minerals Ltd. and Auranova Resources Inc. have completed the fall 2025 drill program at the South Uchi project located in the Red Lake district of Ontario.

2025 fall drill program

The phase 2 program comprised 13 diamond drill holes totalling 7,075 metres, following the maiden 2025 winter campaign that outlined widespread gold mineralization along a five-kilometre-long structural corridor (see press release dated July 2, 2025). Drilling aimed to test the continuity of mineralization intersected in 25PADD023, located at the eastern extent of the Papaonga target area. Stepout drilling extended the deformation zone by two kilometres to the east while additional holes to the northeast targeted a wide structural corridor concealed beneath deep overburden. Assay results are expected in first quarter 2026.

Papaonga target

The program intersected mineralization in broad stepouts both east and west of 25PADD023, extending the mineralized corridor by approximately two kilometres to the east and identifying a new mineralized deformation corridor to the northeast. The program refined the understanding of controls on mineralization, including vein generations, sulphide assemblages, and the structural and lithological controls at Papaonga. Mineralization consists of multistage, sulphide-rich quartz-carbonate veining with associated sericite, iron carbonate and silica alteration. Trace, localized visible gold was observed in association with veining and sulphides. Subparallel shear zones and intersecting structures were delineated, which appear to influence the distribution and intensity of veining, alteration and associated sulphide mineralization. Localization of mineralization within the structural corridor favourably occurs along lithological contacts, including between iron-rich tholeiitic and calc-alkaline volcanic rocks and interbedded volcaniclastic sedimentary and volcanic rocks. Although mineralization is present within the recently completed holes, it does not necessarily indicate economically significant grades.

Next steps

Following the completion of the 2025 fall drill program at the project, Kenorland will maintain the camp and infrastructure at Papaonga for an additional three months in preparation for a potential subsequent winter drill program.

About South Uchi project

The South Uchi project was first identified and staked by Kenorland based on the underexplored region's prospectivity to host significant gold mineralized systems. The project covers a portion of Confederation assemblage volcanic rocks, as well as the boundary between the Uchi geological subprovince to the north and the English River geological subprovince to the south. Multiple major east-west-striking deformation zones associated with the subprovince boundary transect the project, resulting in zones of strong shearing and folding of the supracrustal stratigraphy, which are favourable settings for orogenic gold mineralization. Prior to Kenorland staking the project, records indicated little to no systematic exploration had been completed, and the land package remained underexplored. The majority of gold deposits in the Red Lake district (Red Lake, Madsen, Hasaga and others) is located on the northern margin of the Confederation assemblage. However, recent discoveries such as the LP fault zone on the Dixie project by Great Bear Resources Ltd. (acquired by Kinross Gold and renamed Great Bear project) highlight the prospectivity of the entire Confederation assemblage along the southern margin of the Uchi subprovince.

Kenorland announced on Dec. 2, 2024, that it had entered into a definitive agreement with Auranova, granting Auranova the right to earn an up-to-70-per-cent interest in the project. Pursuant to the agreement, Auranova may earn an initial 51-per-cent interest in the project by making cash payments totalling $500,000 to Kenorland, completing a diamond drilling program with at least $8-million in qualifying expenditures or completing 15,000 metres of drilling within two years of receiving a drill permit, issuing Kenorland 19.9 per cent of Auranova's common shares and maintaining Kenorland's 19.9-per-cent share position until Auranova raises a minimum of $10-million through share issuances, after which Kenorland's stake will remain at 10 per cent on a pro rata basis through to the completion of a preliminary economic assessment.

Kenorland has received $500,000 in cash payments, currently holds 9,242,267 common shares of Auranova and confirms that Auranova has earned a 51-per-cent ownership interest in the project (see press release dated July 2, 2025). Further, Auranova may earn an additional 19-per-cent interest, for a total of 70 per cent, by incurring an additional $10-million in qualifying expenditures on or before the third anniversary of Auranova's election to proceed with the second option. Kenorland will also retain a 30-per-cent carried interest in the project through to the completion of the PEA, at which point a joint venture will be formed.

Kenorland also holds a 2-per-cent net smelter return royalty on the project (see press release dated Sept. 16, 2024).

Qualified persons

Janek Wozniewski, BSc, PGeo (EGBC No. 172781, APEGS No. 77522, EGMB No. 48045, PGO No. 3824 and APEGNB No. L7273), vice-president of operations at Kenorland, a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

William Yeomans, PGeo, a qualified person under National Instrument 43-101, has also reviewed and approved the scientific and technical information in this press release. Mr. Yeomans is a gold exploration professional with over 40 years of experience in all stages of gold exploration throughout the Americas, including the Superior province throughout Quebec and Ontario. He gained extensive exploration management experience across the entire Guiana Shield with BHP and has generated projects, which resulted with significant National Instrument 43-101 gold resources. He has worked as a consultant to Iamgold and Dundee Precious Metals Inc., identifying acquisition opportunities across Canada, the United States and South America. He is currently the president of Yeomans Geological Inc., as well as 1127637 B.C. Ltd., and has many years of experience as a board member for several junior mining companies.

Marketing agreements

Kenorland announces it has engaged the services of Atrium Research Corp., a leading company-sponsored research firm. Atrium will publish various research reports on the company based on publicly available information, industry data and discussions with Kenorland management. Atrium will also host three recorded interviews with the company's management team to present the investment case in an interview format. In exchange for its research services, Atrium will receive cash compensation in the amount of $3,000 per month for the services listed above. The services will be provided for 24 months beginning on Nov. 1, 2025. This engagement is subject to TSX Venture Exchange approval. Atrium and the company are arm's-length parties, and neither Atrium nor its insiders hold any shares or options to purchase shares in the issued and outstanding capital of the company.

The company also announces that it has engaged Triomphe Holdings Ltd., doing business as Capital Analytica, an arm's-length service provider, to provide certain marketing and social media services to the company, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Nanaimo, B.C., Capital Analytica specializes in marketing, social media and public awareness within the mining and metal sector. Capital Analytica will provide social media services, capital market consultation and social engagement reporting for an initial six-month term for a fee of $150,000, payable in two tranches, with an option to renew the agreement for an additional six months at a rate of $75,000 unless terminated earlier in accordance with the terms of the agreement. The engagement remains subject to the approval of TSX Venture Exchange. Capital Analytica has no direct or indirect interest in the company or its securities, and has no current intention or right to acquire any such interest during the engagement, other than the potential grant of stock options in the future.

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 Canada in 2020. Kenorland is based in Vancouver, B.C., Canada.

About Auranova Resources Inc.

The company is an unlisted reporting issuer in the provinces of British Columbia, Alberta, Saskatchewan and Manitoba. Its directors and major shareholders are Thomas Obradovich, Chris Taylor, Timothy Young, William Rand and Blair Zaritsky. The company is focused on the discovery of new gold systems in the Birch Uchi belt in partnership with Kenorland, as well as expanding its presence in the greenstone belts of Ontario.

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