Mr. Zach Flood reports

KENORLAND AND AURANOVA ANNOUNCE GEOPHYSICAL SURVEY OVER THE NORTH PAPA GOLD DISCOVERY AT SOUTH UCHI, ONTARIO

Kenorland Minerals Ltd. and Auranova Resources Inc. have commenced a 24-line-kilometre induced polarization (IP) survey at the South Uchi project, located in the Red Lake district of Ontario. The survey covers the recently discovered North Papa gold trend (see press release dated June 17, 2026) within the larger Papaonga target area, designed to characterize the geophysical response of the mineralized corridor to support future drill targeting beneath glacial cover.

Survey overview

The IP survey is being undertaken by Abitibi Geophysics of Val d'Or, Que., and is expected to commence in late July following completion of line cutting. The survey is designed with a depth of investigation (DOI) of approximately 760 metres to image the North Papa hydrothermal system, providing a three-dimensional view of chargeability and resistivity trends associated with alteration and sulphide mineralization within the felsic intrusive rocks that host gold mineralization. Results will be integrated with geological and drilling data to refine future drill targeting along the North Papa mineralized corridor.

The survey comprises eight parallel three-kilometre lines spaced 250 metres apart and oriented perpendicular to the North Papa mineralized corridor, for a total of 24 line kilometres of coverage. The survey layout has been designed to provide comprehensive coverage of the discovery area, with the objective of further constraining the geometry and extent of the mineralized corridor ahead of the next phase of drilling.

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) are 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 up to a 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 (the PEA).

Kenorland has received the $500,000 in cash payments and currently holds 9,242,267 common shares of Auranova and confirms that Auranova has now 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, 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, BSc, PGeo (EGBC No. 027187, PGO No. 2177), an independent qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

QA/QC (quality assurance/quality control) and core sampling protocols

All drill core samples were collected under the supervision of Kenorland employees. Drill core was transported from the drill platform to the logging facility where it was logged, photographed and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain of custody, and transported from Red Lake to Bureau Veritas commodities (BV) laboratory in Timmins, Ont.

Sample preparation and analytical work for this drill program were carried out by BV. Samples were prepared for analysis according to BV method PRP70-250: individual samples were crushed to two millimetres (10 mesh) and a 250-gram split was pulverized to 75 micrometres (200 mesh) for analysis and then assayed for gold. Gold in samples were analyzed using BV method FA430 where a 30 g split is analyzed with fire assay by Pb (lead) collection and AAS finish. Overlimits gold samples were reanalyzed using BV method FA530 where a 30 g split is analyzed with fire assay by Pb collection and gravimetric finish. Multielement geochemical analysis (45 elements) was performed on all samples using BV method MA200 where a 0.25 g split is by multiacid digest with ICP-MS/ES finish. All results passed the QA/QC screening at the lab, all company inserted standards and blanks returned results that were within acceptable limits.

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 Ltd. in 2020, which contains an inferred mineral resource of 14.5 Mt (million tonnes) at 5.47 grams per tonne Au for 2.55 Moz (million ounces) of gold. Kenorland is based in Vancouver, B.C., Canada.

About Auranova Resources Inc.

Auranova Resources is an explorer of precious metal projects in the highly prospective Red Lake region of Ontario. 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 Minerals Ltd., as well as expanding its presence in the greenstone belts of Ontario.

We seek Safe Harbor.