Kenorland Minerals and Auranova Resources Report Drill Results at South Uchi Project, Ontario; Auranova Completes Initial Earn-in

Vancouver, British Columbia – July 2, 2025 – Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) and Auranova Resources Inc. are generating considerable buzz in the mining community with the release of comprehensive assay results from their 2025 Winter drill program at the South Uchi Project. Spanning the Red Lake District of Ontario, the project has now seen assays from 27 diamond drill holes totaling 14,365 meters. Crucially, Auranova has successfully completed its initial earn-in under the South Uchi option agreement, securing a significant 51% ownership stake in the project.

Key highlights from the drilling campaign underscore the exciting potential of South Uchi:

• A newly confirmed gold system has been delineated, with widespread mineralization encountered in this inaugural drilling phase.
• Gold-bearing structures have been traced over an impressive five-kilometer strike across the targeted area.
• A remarkable 93% of all drill holes (25 out of 27) intersected intervals grading at least 0.1 g/t Au.
• Over half of the holes (56%, or 15 out of 27) returned intercepts with gold assays of 1.00 g/t Au or higher.
• A noteworthy 22% of the drill holes (6 out of 27) delivered intercepts assaying 5.00 g/t Au or greater.
• The highest grade intercept reported was a substantial 14.60 g/t Au over 1.00 meter.
• The mineralized corridor remains open in all directions, signaling ample room for further expansion.
• A follow-up drill program is already slated for late summer.

Figure 1. Plan map of Papaonga showcasing drill hole locations and highlights from this press release.

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Zach Flood, President and CEO of Kenorland, commented on the significance of the results: “These results from our maiden drill program represent a pivotal moment in unlocking the immense potential of South Uchi. Intersecting gold mineralization across a five-kilometer structural corridor, in an area previously devoid of recorded gold occurrences, not only validates our initial targeting strategy but also underscores the sheer scale of this newly discovered system. We are eager to commence the next phase of follow-up drilling in partnership with Auranova.”

Auranova’s CEO, Tom Obradovich, echoed the enthusiasm: “We are thrilled to be advancing to the next phase of drilling, specifically targeting the gold-bearing structures identified in Phase 1. Our refined approach aims to unlock the full potential of this burgeoning gold system, allowing us to gain a more comprehensive understanding of the controlling factors for mineralization.”

Discussion of Results

This recent drilling campaign marks the first-ever exploration at the Papaonga gold target, capping off four years of meticulous, systematic exploration efforts. Notably, prior to this work, the area had no recorded historical drilling or documented gold occurrences. The maiden drill program, comprising 27 diamond drill holes totaling 14,365 meters, focused on a 27 km² area identified through extensive gold-in-till and heavy mineral concentrate (HMC) gold grain anomalies. The strategically spaced drill fences, ranging from 500 meters to over 1 kilometer apart, were designed to probe interpreted structural corridors obscured by deep overburden and Papaonga Lake.

The drilling revealed widespread gold mineralization across the Papaonga target, hosted within a diverse range of rock types. These include the sheared margins of diorite, interbedded clastic sedimentary rocks and iron formations, and the volcaniclastic-mafic volcanic rock stratigraphy. A significant gold-bearing structural corridor was a standout discovery, intersected in multiple drill holes and traced over a 5-kilometer strike length. Trending east-west, this corridor remains predominantly open.

• Drill hole 25PADD023, situated on the easternmost fence, delivered compelling intercepts of 0.50 meters grading 7.57 g/t Au and 9.50 meters grading 1.19 g/t Au, including a 0.50-meter interval grading 4.76 g/t Au. This intercept contained visible gold within multi-stage quartz and quartz-carbonate veins, associated with arsenopyrite, pyrrhotite, pyrite, and trace chalcopyrite mineralization, alongside sericite-silica-carbonate-chlorite alteration. Figure 2 provides a detailed illustration of the mineralization style and visible gold.
• Approximately 3 kilometers further west along strike, drill hole 25PADD016 encountered extensive gold anomalism, with notable intercepts including 1.35 meters grading 7.00 g/t Au, 34.50 meters grading 0.11 g/t Au, and 30.50 meters grading 0.13 g/t Au.
• An additional 1.5 kilometers west, drill hole 25PADD027 intersected numerous zones of significant gold mineralization, highlighted by 25.50 meters grading 0.20 g/t Au, a potent 1.00-meter interval grading 14.60 g/t Au, and 8.50 meters grading 0.48 g/t Au.

These results collectively demonstrate broad gold mineralization and the continuity of a significant structure across multiple kilometers, strongly suggesting the presence of a robust, gold-rich orogenic system. The extensive zones of anomalous gold, multiple generations of veins and sulfides, visible gold, and pronounced deformation observed in this initial drill program all point to a long-lived history of fluid flow and deformation within the Papaonga target area. The major east-west trending deformation zone, situated within the volcanic and volcaniclastic stratigraphy, remains open in all directions and stands as a high-priority target for future exploration.

Figure 2. Drill core from hole 25PADD023 (146.1m – 159.1m) showcasing intense shearing with multiphase quartz veining, hosting 5%-10% arsenopyrite, pyrrhotite, pyrite, and chalcopyrite, along with visible gold in the lower portion.

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Next Steps

A Phase 2 drill program, projected to be up to 5,000 meters, is scheduled to commence in late summer 2025. The focus will be on expanding the newly discovered gold-bearing structural corridor. Closer step-outs will be implemented around drill hole 25PADD023, targeting volcaniclastic and mafic volcanic rocks cross-cut by strongly mineralized shear zones containing quartz-carbonate stockwork with visible gold. Wider-spaced step-outs will test the east-west trending deformation zone between 25PADD016 and 25PADD023, as well as extending east of 25PADD023, where no prior drilling has occurred and bedrock remains concealed by deeper overburden.

Auranova Completes Initial Earn-In

Kenorland and Auranova jointly announce that Auranova has successfully met the initial earn-in requirements under the South Uchi option agreement, thereby acquiring a 51% ownership interest in the Project. In fulfilling this milestone, Kenorland has received $500,000 in cash and 9,242,267 common shares of Auranova.

Table 1: Assay results from the 2025 winter drill program.

Table 2. Drill hole location and collar data from the 2025 winter drill program.

Figure 3. Regional volcanic assemblages with significant gold deposits and the South Uchi Project location.

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¹ Kinross reports 2023 fourth-quarter and full-year results: (Date February 14, 2024) – Updated resource to the technical report titled Great Bear Project Ontario, Canada prepared by Nicos Pfeiffer, P.Geo., John Sims, CPG, Yves Breau, P.Eng., Rick Greenwood, P.Geo., Agung Prawasono, P.Eng., issued February 13, 2023.

About the South Uchi Project

The South Uchi Project was initially identified and staked by Kenorland, recognizing the under-explored region’s significant potential for hosting substantial gold mineralization systems. The Project encompasses a portion of the Confederation Assemblage volcanic rocks, as well as the critical boundary between the Uchi geological subprovince to the north and the English River geological subprovince to the south. Several prominent east-west striking deformation zones associated with the subprovince boundary traverse the Project, creating zones of intense shearing and folding within the supracrustal stratigraphy – ideal settings for orogenic gold mineralization. Intriguingly, prior to Kenorland’s staking, records indicated minimal to no systematic exploration had been conducted, leaving the land package largely unexplored. While most established gold deposits in the Red Lake District (including Red Lake, Madsen, and Hasaga) are situated on the northern margin of the Confederation Assemblage, recent discoveries like the LP Fault Zone on the Dixie Project (by Great Bear Resources Ltd., now the Great Bear Project under Kinross Gold) highlight the widespread prospectivity of the entire Confederation Assemblage, particularly along the southern margin of the Uchi subprovince.

Kenorland announced on December 2, 2024, a definitive agreement with Auranova, granting Auranova the right to earn up to a 70% interest in the Project. Under this agreement, Auranova may earn an initial 51% interest by making cash payments totaling $500,000 to Kenorland, completing a diamond drilling program with at least $8,000,000 in qualifying expenditures or a minimum of 15,000 meters of drilling within two years of receiving a drill permit, and issuing Kenorland 19.9% of Auranova’s common shares. Furthermore, Auranova agreed to maintain Kenorland’s 19.9% share position until Auranova secures a minimum of $10,000,000 through share issuances. Post this financing, Kenorland’s stake will be adjusted to 10% on a pro-rata basis, continuing through to the completion of a Preliminary Economic Assessment (PEA). Kenorland has already received the initial $500,000 cash payment and currently holds 9,242,267 common shares of Auranova. Auranova can earn an additional 19% interest, bringing their total to 70%, by incurring a further $10,000,000 in qualifying expenditures on or before the third anniversary of Auranova’s election to proceed with the second option. Kenorland will retain a 30% carried interest in the Project through to the PEA completion, at which point a joint venture will be established.

Kenorland also retains a 2% net smelter return royalty on the Project.

Qualified Persons

Mr. Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824), acting as a “Qualified Person” under National Instrument 43-101 (“NI 43-101”), has reviewed and approved the scientific and technical information presented in this press release.

William Yeomans, P.Geo., also a “Qualified Person” under NI 43-101, has reviewed and approved the scientific and technical information within this press release. Mr. Yeomans is a seasoned gold exploration professional with over 40 years of extensive experience across all phases of gold exploration throughout the Americas, including the highly prospective Superior Province in Quebec and Ontario. His career includes significant exploration management experience across the Guiana Shield with BHP, where he spearheaded projects that led to the delineation of significant NI 43-101 gold resources. He has also served as a consultant for IAMGOLD and Dundee Precious Metals Inc., identifying promising acquisition opportunities across Canada, the USA, and South America. Currently, he leads Yeomans Geological Inc. and 1127637 B.C. Ltd., and brings many years of valuable board experience with several junior mining companies.

QA/QC and Core Sampling Protocols

All drill core samples were collected under the direct supervision of Kenorland employees. The drill core was transported from the drill rig to a dedicated logging facility where it was meticulously logged, photographed, and split using a diamond saw before sampling. Samples were then securely bagged, with blanks and certified reference materials conscientiously inserted at regular intervals. Batches of samples were placed in larger bags, sealed with numbered tags to ensure chain-of-custody, and then transported from Chibougamau to the Bureau Veritas Commodities (“BV”) laboratory in Timmins, Ontario.

Sample preparation and analytical work for this drill program were expertly handled by BV. Samples were prepared for analysis utilizing BV method PRP70-250: individual samples were crushed to 2mm (10 mesh), and a 250g split was pulverized to 75μm (200 mesh) for analysis and subsequent gold assaying. Gold in samples was determined using BV method FA430, which involves a 30g split analyzed by fire assay with lead collection and AAS finish. Samples exceeding the over-limit thresholds for gold were re-analyzed using BV method FA530, employing a 30g split with fire assay, lead collection, and a gravimetric finish. Multi-element geochemical analysis (covering 45 elements) was also performed on all samples using BV method MA200, which involves a 0.25g split subjected to multi-acid digestion with an ICP-MS/ES finish. All results successfully passed the laboratory’s stringent QA/QC screening, with all company-inserted standards and blanks yielding results within acceptable limits.

About Kenorland Minerals

Kenorland Minerals Ltd. (TSXV: KLD) is a well-capitalized mineral exploration company dedicated to project generation and early-stage exploration ventures across North America. Kenorland’s strategic approach centers on advancing greenfields projects through systematic, property-wide, phased exploration surveys, primarily funded through strategic exploration partnerships and option-to-joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec, currently owned by Sumitomo Metal Mining Canada Ltd. The Frotet Project hosts the Regnault gold system, a significant greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada Ltd. in 2020. Kenorland is headquartered in Vancouver, British Columbia, Canada.

About Auranova Resources

Auranova Resources Inc. is an unlisted reporting issuer in the Provinces of British Columbia, Alberta, Saskatchewan, and Manitoba. Its board of directors and major shareholders include Thomas Obradovich, Chris Taylor, Timothy Young, and William Rand. The company’s focus is on discovering new gold systems within the Birch Uchi Belt, in collaboration with Kenorland Minerals Ltd., and expanding its presence across the prolific greenstone belts of Ontario.

Further information can be found on Kenorland’s website: www.kenorlandminerals.com

On behalf of the Board of Directors of Kenorland Minerals,

Zach Flood
President, CEO & Director

Cautionary Statement Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, are considered forward-looking. Typically, forward-looking statements can be identified by words such as “plans,” “expects,” “estimates,” “intends,” “anticipates,” “believes,” or variations of such words, or by statements indicating that certain actions, events, or results “may,” “could,” “would,” “might,” or “will” occur or be achieved. Forward-looking statements involve inherent risks, uncertainties, and other factors that are disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. These factors could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based on currently available information as of the date of this release, actual results and developments may differ significantly from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which are only applicable as of the date of this news release. No assurance can be given that such events will occur within the disclosed timeframes or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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