Kenorland awaits release of Regnault resource estimate

Executive Summary

• Kenorland Minerals is providing an update on the upcoming maiden mineral resource estimate (MRE) for the Regnault gold deposit at its Frotet project in Quebec.
• The MRE is in the final stages of completion and is expected to be announced in the coming weeks.
• The estimate will incorporate 127,217 metres across 265 drill holes, representing the first formal quantification of the high-grade gold mineralization discovered in 2020.

Key Details

• MRE Scope: The maiden mineral resource estimate will incorporate 127,217 metres of drilling across 265 drill holes.
• Preparation Standards: The MRE is being prepared by SLR Consulting (Canada) Ltd. and will adhere to Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards as required under National Instrument 43-101.
• Royalty Interest: Kenorland holds a 4-per-cent net smelter return (NSR) royalty across the entirety of the Frotet project.
• Transaction History: On Feb. 19, 2024, Kenorland closed a transaction to exchange its 20-per-cent participating interest in the Frotet joint venture with Sumitomo for the 4-per-cent NSR royalty.
• Drilling History: Since the initial discovery in 2020, the Regnault system has seen extensive exploration totaling 131,713 metres of drilling across 271 drill holes to date.
• Geological Context: The Regnault gold system comprises multiple subparallel, steeply dipping shear zones hosting quartz-carbonate veining and disseminated sulphides within an area exceeding two kilometres in strike length. Mineralization remains open along strike and at depth.
• Project Location: The Frotet project covers 39,365 hectares in the Opatica geological subprovince of Quebec, located 100 kilometres north of Chibougamau. It is adjacent to the past-producing Troilus Gold Corp.'s gold-copper mine.

Notable Quotes

• "The upcoming maiden mineral resource estimate at Regnault will be a defining milestone for Kenorland, providing the first tangible valuation anchor for our 4-per-cent NSR royalty on the Frotet project. Situated in a premier jurisdiction and underpinned by Sumitomo's operational strength, this maiden resource -- together with our large-scale portfolio of grassroots assets -- will continue to drive Kenorland's long-term value and optionability." — Zach Flood, President and CEO