Kenadyr to change name to Algo Grande

Executive Summary

• Kenadyr Metals Corp. is rebranding as Algo Grande Copper Corp. and applying to reactivate trading on the TSX Venture Exchange (TSXV) from the NEX board to Tier 2 status.
• The company has signed a definitive agreement to acquire the remaining 20% interest in the Adelita Project from Minaurum Gold Inc., consolidating 100% ownership of the 5,985-hectare copper-gold-silver asset in Sonora, Mexico.
• A concurrent non-brokered private placement of subscription receipts is being completed to raise approximately $3 million in gross proceeds, with funds designated for exploration expenditures, payment obligations, and general working capital.

Key Details

• M&A Transaction (Adelita Project):
  • Kenadyr entered into an asset purchase agreement dated August 12, 2025, with Minaurum Gold Inc. and Minera Minaurum Gold SA de CV to acquire the remaining 20% interest in the Adelita Project.
  • This follows a previous agreement to acquire an 80% interest, resulting in 100% ownership of the district-scale asset.
  • Consideration for 20% Interest:
    • Issuance of 313,953 common shares valued at $135,000 (based on a price of $0.43 per share).
    • A 1% net smelter return (NSR) royalty on all ores, minerals, and metals derived from the property.
  • Transaction Conditions: Subject to TSXV approval and customary closing conditions. Trading remains halted pending documentation review.
• Financing Details:
  • Type: Non-brokered private placement of subscription receipts.
  • Price: $0.375 per subscription receipt.
  • Gross Proceeds: Approximately $3,000,000.
  • Conversion: Each receipt converts into one common share upon satisfaction of escrow release conditions (completion of acquisitions and TSXV approval).
  • Use of Proceeds: Payment obligations related to the property, exploration expenditures, and general working capital.
  • Hold Period: Securities subject to a statutory hold period of four months plus one day.
• Corporate Changes:
  • Name Change: Kenadyr Metals Corp. will become Algo Grande Copper Corp.
  • Listing: Application to graduate from the NEX board to Tier 2 of the TSX Venture Exchange.
  • Board Appointments: Gord Neal joins the board, bringing over 30 years of management experience and having raised over $750 million for resource companies.
  • Advisory Team: Technical advisory board led by Dr. Peter Megaw (co-founder of Mag Silver), supported by Michael Williams and John McVey. Management includes CEO Tim McCutcheon and Executive Director Kevin Ma.
• Adelita Project Technical Highlights:
  • Location: Sonora-Arizona copper belt, Mexico. 5,985 hectares.
  • Geology: Anchored by the Cerro Grande skarn discovery (near-surface, high-grade Cu-Au-Ag). Includes multiple untested skarn targets along a 6km corridor and a 4.5km porphyry anomaly.
  • Historical Drill Results (Cerro Grande Skarn Zone):
    • 47.64 metres at 1.05% Cu, 0.46 g/t Au, 46.00 g/t Ag.
    • 22.35 metres at 1.35% Cu, 0.51 g/t Au, 69.00 g/t Ag.
    • 11.20 metres at 1.11% Cu, 0.59 g/t Au, 39.90 g/t Ag.
  • Exploration Plan: Inaugural drill program scheduled for Fall 2025. Legacy data (7,000m of drilling, VTEM, IP, magnetics) is being reprocessed using AI-assisted 3-D geophysical modelling.
  • Infrastructure: Road access, nearby grid power, water availability, and proximity to regional smelting infrastructure. Approximately 300km from Guaymas deepwater port.
• Regulatory/Technical Disclosure:
  • Technical information reviewed by Lorne Warner, PGeo, an independent Qualified Person under NI 43-101.
  • Historical data derived from a technical report dated June 10, 2021, prepared by Mark T. Smethurst, PGeo.

Notable Quotes

• Timothy McCutcheon, CEO: "Algo Grande is building a copper company designed to give stakeholders maximum leverage to rising copper prices. We are honoured to have Dr. Peter Megaw on our team and, now, to welcome Gord Neal. Gord played a key strategic role alongside Peter during Mag Silver's early growth, and, together, they bring tremendous value and proven discovery-to-development expertise to Algo Grande."