Auranova and Kenorland Announce Large Intrusion-Related Gold Discovery at the South Uchi Project, Ontario

• Auranova Resources announced complete assay results from its Phase 3 spring 2026 diamond drill program at the South Uchi Project in Ontario’s Red Lake District.
• Drilling successfully extended the Papaonga gold target eastward along a major structural corridor, identifying a new intrusion-related gold system dubbed "North Papa".
• Key intercepts include 122.80 m @ >0.28 g/t Au in hole 26PADD046, with high-grade intervals of 1.00 m @ 7.07 g/t Au and 1.45 m @ 9.09 g/t Au.
• The Papaonga target footprint has expanded to approximately 7 km of strike length, remaining open along strike and at depth.
• The company plans Q3-2026 detailed geophysical surveys (IP and high-resolution magnetic) to fingerprint mineralization and guide future drilling.
• Auranova has spent C$14.7 million in qualifying expenditures to date and will earn a 70% interest by spending an additional C$3.3 million in partnership with Kenorland Minerals Ltd.
• QA/QC protocols were followed, with samples analyzed by Bureau Veritas using fire assay and ICP-MS.

• The Phase 3 drill results represent a material step-out, expanding the known strike length of the Papaonga target to ~7 km and confirming a large-scale intrusion-related gold system.
• The discovery of the "North Papa" target with broad, low-grade intercepts and high-grade intervals aligns with the geological model presented in prior updates (quartz feldspar porphyry, intense hydrothermal alteration, sulphide mineralization).
• While geologically significant, the market impact is tempered by the stock's prolonged downtrend from $0.59 to $0.22 prior to the announcement. The news is expected and incremental, following the completion of the Phase 3 program in late April 2026.
• The announcement does not trigger a change in control, major financing, or immediate resource definition, keeping it in the routine positive category.

• Auranova Resources Inc. is a pre-revenue junior explorer listed on the TSX Venture Exchange (TSXV: AURA) as of March 17, 2026.
• Flagship Project: South Uchi Project, located in the Red Lake District, Ontario, a prolific gold mining camp.
• The project focuses on the Papaonga target, characterized by a ~200 m wide mineralized structural corridor with quartz-sericite-albite alteration and disseminated sulphides.
• Auranova holds a 51% interest and can earn up to 70% through qualifying expenditures. Partner Kenorland Minerals Ltd. retains a 30% carried interest and a 2% NSR royalty.
• Management compares the alteration styles to the Great Bear deposit (Kinross Gold), suggesting potential for similar intrusion-related gold systems.