Makenita Acquires the 23,517 Acre "Serpentinization Iron-Magnetite Project" in Saskatchewan

• Most Recent News (May 1, 2026): Makenita Resources acquired a 23,517-acre "Serpentinization Iron-Magnetite Project" in Saskatchewan via land staking. The property borders Max Power Corp and targets iron, magnetite, and potential naturally occurring hydrogen production through stimulation of iron formations.
• Historical Context:
  • Nov-Dec 2025: Acquired Sisson West Tungsten (NB) and NTX Rare Earth (QC) projects via option agreements; doubled Sisson West acreage to ~9,400 acres.
  • Jan-Mar 2026: Secured $200k loan with warrants ($0.09 strike); closed $100k flow-through financing at $0.10/share; engaged geophysical contractors for Sisson West.
  • Apr 28, 2026: Commenced helicopter-based aeromagnetic/VLF survey on Sisson West project adjacent to the "Nation-Building" Sisson Tungsten Mine.
• Management Commentary: CEO Jason Gigliotti emphasizes a small float (~30M shares) and potential for meaningful impact from ground success, citing strong tungsten prices and strategic proximity to operating mines.

• Acquisition Scale vs. Company Size: The acquisition of 23,517 acres is significant relative to the company's ~$3M market cap, effectively doubling its land position in a new province (Saskatchewan) compared to previous holdings in NB/QC/ON.
• Strategic Proximity: Direct adjacency to Max Power Corp provides some geological validation for the area, but does not guarantee Makenita's success without drilling data.
• Hydrogen Thesis Risk: The claim of "naturally occurring hydrogen production via stimulation" is highly speculative and unproven at this stage. This introduces significant technical risk that could limit upside if the science fails to materialize.
• Capital Efficiency: The acquisition was made via land staking, implying low cash cost but high work commitment requirements typical of junior explorers. No major institutional investment or partnership was announced alongside this deal.
• Conclusion on Materiality: While positive for portfolio expansion, the news lacks immediate financial validation (assays/resources) or a transformative financing event. It aligns with the established "active 2026" narrative rather than disrupting it. Therefore, it is categorized as Routine - Positive.

• Company: Makenita Resources Inc. (Ticker implied KENY).
• Flagship Project: Sisson West Tungsten Project (New Brunswick). Located adjacent to the operating Sisson Tungsten Mine, designated a "Nation-Building Project" by the Canadian Prime Minister.
• Secondary Projects:
  • NTX Rare Earth Project: ~9,000 acres in Quebec.
  • Hector Property: 5,542 acres near Cobalt, Ontario (Cobalt/Silver/Diamonds).
  • Serpentinization Iron-Magnetite Project: New acquisition in Saskatchewan (23,517 acres), targeting iron and hydrogen potential.
• Development Stage: Exploration/Early Development. Geophysical surveys are underway; no resource estimates or drilling results disclosed yet.