Kenorland Minerals and Auranova Resources Commence 2025 Fall Drill Program at the South Uchi Project, Ontario

Executive Summary

• Kenorland Minerals announced the start of a Phase 2 diamond drill program at the South Uchi Project (Red Lake District, Ontario) under its option agreement with Auranova Resources.
• The Fall 2025 program targets up to 6,000 m of drilling across 13 holes in the Papaonga target area, focusing on step‑outs from hole 25PADD023 and testing additional concealed structures.
• Auranova has now earned a 51% interest in the project after completing its $500k cash payment; it may increase to 70% with further qualifying expenditures.

Key Details

• Program Scope: Up to 6,000 m of diamond drilling; 13 drill holes planned at Papaonga target area.
• Drilling Objectives:
• Tight step‑outs around hole 25PADD023 (which intersected volcaniclastic/mafic rocks with strongly mineralised shear zones and visible gold).
• Broader step‑outs along the east–west trending deformation zone between holes 25PADD016 and 25PADD023 to test lateral extensions.
• Initial testing of structures northeast of hole 25PADD023 in deeper overburden where no historic drilling exists.
• Target Geology: Volcaniclastic and mafic volcanic rocks cut by shear zones hosting quartz‑carbonate stockwork, multiple generations of veining, sulphidation, and visible gold—characteristic of an orogenic gold system.
• Option Agreement Status (Auranova):
• Received $500,000 cash payment; now holds a 51% earned interest in the South Uchi Project.
• May earn additional 19% (total 70%) by spending another $10 M in qualifying expenditures before the third anniversary of its election to proceed with the second option.
• Kenorland’s Retained Interests:
• 30% carried interest through completion of a Preliminary Economic Assessment (PEA).
• 2% net smelter return royalty on the project.
• Qualified Person: Janek Wozniewski, VP of Operations, reviewed and approved all scientific/technical information per NI 43‑101.
• CEO Quote: Zach Flood emphasized the success of the maiden drill program, the widespread gold mineralisation discovered, and the intent to step out from that discovery while testing new targets beneath thick overburden.

Notable Quotes

“We’re excited to return to South Uchi following a very successful maiden drill program earlier this year… The current drill program will step out from this discovery as well as test additional targets concealed beneath thick overburden.” – Zach Flood, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the company’s filings.