Mr. Zach Flood reports

KENORLAND MINERALS COMMENCES DRILLING AT THE O'SULLIVAN PROJECT, QUEBEC

Kenorland Minerals Ltd. has commenced drilling at the O'Sullivan project, located in the Abitibi greenstone belt of Quebec and held under an option agreement with Sumitomo Metal Mining Canada Ltd.

2025 fall exploration program

A total budget of $1.72-million has been approved by Sumitomo for the fall 2025 exploration program. The program will comprise up to 2,925 metres of diamond drilling, representing the first test of a target area defined through five years of systematic exploration. Drilling will focus on a series of interpreted structures and coincident geophysical anomalies within a folded sequence of mafic volcanic and mafic-ultramafic intrusive rocks. Kenorland is operator of the project, with drilling activities expected to conclude by early December.

Target area

During the 2025 exploration campaign, the company completed infill till sampling and an induced polarization (IP) survey across the target area. This work followed earlier geochemical surveys carried out in 2020 and 2021, a property-wide airborne versatile time-domain electromagnetic survey, and detailed mapping completed in 2023. The underlying geology consists of broadly folded, mafic-dominant volcanic rocks with minor interbedded rhyolite, intruded by early mafic-ultramafic sills that have developed penetrative fabrics and are locally crosscut by east-northeast-trending shear zones. The folded stratigraphy lies immediately west of an interpreted early syn-volcanic granodiorite pluton. The fall 2025 drill program is designed to test several strong, discrete chargeability and conductivity anomalies identified by the recent IP survey that coincide with interpreted structures and lithological contacts. Drilling will cross multiple lithological settings within a structural corridor highlighted by gold-in-till anomalism, prospective for orogenic gold mineralization.

About the O'Sullivan project

The O'Sullivan project covers 27,587 hectares of mineral tenure within the Abitibi greenstone belt along the Casa Berardi deformation zone (CBDZ). The CBDZ is one of the primary structures that controls orogenic gold mineralization in the belt and hosts the active Casa Berardi mine that has produced over two million ounces of gold since 1988, with recent proven and probable reserves of 1.27 million ounces. Other major deposits along the CBDZ include the Douay gold deposit (2.52 million ounces gold inferred and 511,000 ounces gold indicated) as well as the Nelligan gold deposit, having a 5.16 million ounces gold inferred and 3.12 million ounces gold indicated resource. The O'Sullivan project covers approximately 15 kilometres of strike length along the southern margin of the CBDZ, where the deformation zone intersects volcanic rocks of the Stoughton-Roquemaure and Kidd-Munro assemblages.

The project is located approximately 50 kilometres east of the city of Lebel-sur-Quevillon and 150 kilometres northeast of Val d'Or, Que. Local infrastructure includes a power transmission line transecting the property, a railway line approximately five kilometres to the north of the project and an extensive network of logging roads throughout the property.

The project is currently under an option agreement with Sumitomo, whereby Sumitomo can earn an initial 51-per-cent interest in the project by incurring an aggregate of $4.9-million in mineral exploration expenditures on or before the third anniversary of the option agreement (of which $1.2-million is guaranteed expenditures within the first three years). Kenorland will act as operator of the project in return for a management fee equal to 15 per cent of the total expenditures during the first earn-in period.

Following the earning of a 51-per-cent interest, Sumitomo has the option to earn an additional 19 per cent (for a total of 70-per-cent interest) by delivering a National Instrument 43-101-compliant feasibility study on the project disclosing mineral resources in the measured and indicated categories of not less than 1.5 million ounces of gold (or gold equivalent) within an additional seven years. Once Sumitomo has earned a 70-per-cent interest, Kenorland will have the option to forgo a minority joint venture interest and immediately vest a net smelter return royalty interest of 4 per cent on the project. In the event of joint venture participation, any party which dilutes to below a 10-per-cent interest will exchange its joint venture interest for a net smelter return royalty of 3 per cent (subject to a 1-per-cent buyback for $1-million).

Qualified person

Cedric Mayer, MSc, PGeo (OGQ No. 02385), senior project geologist at Kenorland, 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 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. 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.

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