Kenorland, Auranova complete South Uchi fall drilling

Executive Summary

• Kenorland Minerals Ltd. and Auranova Resources Inc. have completed the fall 2025 drill program at the South Uchi project in Ontario, consisting of 13 diamond drill holes totaling 7,075 metres.
• The drilling extended the mineralized corridor by approximately two kilometres to the east and identified a new mineralized deformation corridor to the northeast, refining the understanding of structural and lithological controls on gold mineralization.
• Assay results are expected in the first quarter of 2026, and Kenorland will maintain camp infrastructure for three months to prepare for a potential subsequent winter drill program.

Key Details

• Drilling Program Scope: Phase 2 program comprised 13 diamond drill holes totaling 7,075 metres.
• Target Area: Drilling focused on the Papaonga target area, specifically testing the continuity of mineralization intersected in hole 25PADD023 at the eastern extent.
• Geological Findings:
  • Stepout drilling extended the deformation zone by two kilometres to the east.
  • Additional holes to the northeast targeted a wide structural corridor concealed beneath deep overburden.
  • Mineralization consists of multistage, sulphide-rich quartz-carbonate veining with associated sericite, iron carbonate, and silica alteration.
  • Trace, localized visible gold was observed in association with veining and sulphides.
  • Subparallel shear zones and intersecting structures were delineated, influencing the distribution and intensity of veining and alteration.
  • Mineralization favors localization along lithological contacts, including between iron-rich tholeiitic and calc-alkaline volcanic rocks and interbedded volcaniclastic sedimentary and volcanic rocks.
• Operational Update: Kenorland will maintain camp and infrastructure at Papaonga for an additional three months in preparation for a potential subsequent winter drill program.
• Partnership Context: Auranova has earned a 51-per-cent interest in the project via $500,000 in cash payments, $8 million in qualifying expenditures, and 15,000 metres of drilling. Auranova may earn an additional 19 per cent (total 70 per cent) by incurring $10 million in qualifying expenditures by the third anniversary of the election to proceed. Kenorland retains a 30-per-cent carried interest until a Preliminary Economic Assessment (PEA) is completed.
• Marketing Agreements:
  • Engaged Atrium Research Corp. for $3,000/month for 24 months (starting Nov 1, 2025) for research reports and management interviews.
  • Engaged Triomphe Holdings Ltd. (Capital Analytica) for $150,000 for an initial six-month term for marketing and social media services, with an option to renew for $75,000.

Notable Quotes

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