Mr. Zach Flood reports

KENORLAND MINERALS ANNOUNCES COMPLETION OF SUMMER DRILL PROGRAM AT WESTERN WABIGOON PROJECT, ONTARIO

Kenorland Minerals Ltd. has completed the maiden diamond drill program at the Western Wabigoon project, located in Northwestern Ontario and held under an option agreement with a subsidiary of Centerra Gold Inc.

2026 summer drilling program

The maiden diamond drill program at Western Wabigoon comprised 4,089 metres (m) across nine drill holes testing the W2 target area. The program was designed to test a coherent, three-kilometre-long gold-in-till and heavy mineral concentrate (HMC) gold grain anomaly. This anomaly encompasses numerous multigram-per-tonne gold (Au) showings identified through historical trenching and shallow drilling within the area historically referred to as the Sorry Mac trend.

Drilling confirmed the presence of north-northeast- and northeast-trending shear zones, interpreted to intersect along the W2 target area. Multiple alteration and sulphide mineralization assemblages were logged along the entire tested strike length of the W2 target, remaining open toward the north and southwest. Localized visible gold (VG) was also observed in drill hole 26DFDD005 to the southwest, further suggesting the potential to extend the mineralizing system toward the southwest.

Dominant lithologies intersected during the program consist of interbedded mafic volcanic flows (massive and pillowed) with mafic to intermediate tuffs and volcaniclastic rocks, crosscut by later magnetite-bearing gabbroic and ultramafic intrusions. In the northern portion of the drill area, felsic volcanic flows were intersected, along with a 173-metre-thick sericitized granodiorite intrusion in drill hole 26DFDD004.

Styles of mineralization intersected in drilling include:

• VG-bearing smoky quartz vein associated with pyrite-pyrrhotite (trace to 3 per cent) and chlorite-calcite alteration within gabbro, observed in drill hole 26DFDD005;
• Shear-hosted arsenopyrite-pyrite (trace to 10 per cent) associated with strong sericite-silica-fuchsite-iron-carbonate alteration was intersected in multiple drill holes (26DFDD002, 26DFDD006, 26DFDD007 and 26DFDD008);
• Semi-massive to massive pyrrhotite-pyrite plus or minus chalcopyrite plus or minus sphalerite hosted within mafic volcanic flows was intersected predominantly in the southwestern portion of the drill area (26DFDD003 and 26DFDD005);
• Intrusion-hosted disseminated arsenopyrite-pyrite (trace to 1 per cent) was intersected within a previously unmapped sericitized granodiorite intrusion in the northeastern portion of the drilled area, including 26DFDD001 (26 m thick), 26DFDD004 (173 m thick) and 26DFDD009 (122 m thick).

Although favourable alteration, mineralization and localized visible gold have been observed within the drill core, its presence does not necessarily indicate economically significant grades, and assay results are required to assess its significance.

2026 summer exploration program

In addition to the drilling program, heavy mineral concentrate (HMC) sampling and geological mapping were completed during the exploration campaign. A total of 157 HMC samples were collected across secondary target areas within the project. Geological mapping confirmed historical surface exposures of mineralization within the drill area. Stockwork quartz veining hosted within strongly sericitized, silicified, iron-carbonate-altered volcanic rocks, associated with arsenopyrite-pyrite plus or minus chalcopyrite mineralization, was identified in multiple outcrops across the W2 target.

W2 target (Sorry Mac trend)

Large-scale systematic geochemical surveys completed between 2024 and 2025 have defined W2 as the priority target within an approximately 19-kilometre gold-in-till and HMC gold grain trend along the major Manitou-Dinorwic deformation zone (see news release dated Dec. 2, 2025). The underlying geology is characterized by northeast- and north-northeast-trending structural lineaments associated with interpreted fold interference patterns within mafic-intermediate volcanic stratigraphy adjacent to the Bretz Lake felsic pluton. Bedrock gold mineralization is associated with strong deformation, silica-sericite-iron-carbonate alteration, quartz-iron-carbonate-arsenopyrite-pyrite veining and stockwork, and disseminated sulphide mineralization. Surface work completed by Kenorland has confirmed gold mineralization with rock samples assaying up to 7.75 grams per tonne (g/t) Au. This work has significantly expanded the footprint beyond the limited historical trenching and shallow drilling along the Sorry Mac trend, highlighting the potential for new discoveries through systematic drilling.

Next steps

Assay results from the summer drilling campaign at Western Wabigoon are expected by mid- to late Q3 (third quarter). Following review and interpretation of the results, the company and Centerra will determine the next steps for the project.

About the Western Wabigoon project

The Western Wabigoon project is situated within the Western Wabigoon subprovince and covers key intersections of major deformation zones within the Archean greenstone belt. In the northern portion of the property, the Pipestone-Cameron deformation zone (PCDZ) intersects both the Manitou-Dinorwic deformation zone (MDDZ) and the Helena-Pipestone deformation zone (HPDZ). The PCDZ hosts the Cameron orogenic gold deposit 30 kilometres (km) to the northwest of the property boundary, while the HPDZ hosts the Rainy River deposit 50 km to the southwest. These high-strain structural corridors also host numerous gold showings associated with quartz-iron-carbonate veins, altered shear zones and porphyry dikes.

The project is held under an earn-in agreement with a subsidiary of Centerra (see news release dated June 25, 2025), whereby Centerra can earn up to a 70-per-cent interest in the project by financing staged exploration and delivering a preliminary economic assessment (PEA). Upon earn-in, a joint venture will be formed, with Kenorland retaining the right to a carried interest through to completion of a prefeasibility study (PFS), after which both parties will contribute pro rata to development.

Kenorland also retains a 2-per-cent net smelter return (NSR) royalty over the claims of the project.

Qualified person

Janek Wozniewski, BSc, PGeo (EGBC No. 172781, APEGS No. 77522, EGMB No. 48045, PGO No. 3824), 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 news 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 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, which contains an inferred mineral resource of 14.5 million tonnes (t) at 5.47 g/t Au for 2.55 million ounces (oz) of gold. Kenorland is based in Vancouver, B.C., Canada.

We seek Safe Harbor.