Kenorland Minerals posts maiden Inferred Resource of 14.5 Mt at 5.47 g/t Au for 2.55 million oz at Frotet Project, Quebec

Kenorland Minerals Ltd. [TSXV: KLD; OTCQX: KLDCF; FSE: 3WQ0] reported a maiden Inferred Mineral Resource of 14.5 Mt at 5.47 g/t for 2.55 million ounces (Moz) of gold for the Regnault gold deposit at the Frotet Project in northern Quebec. Kenorland holds a 4% NSR royalty across the entirety of the project, which is 100%-owned and operated by Sumitomo Metal Mining Canada Ltd.

Highlights: Inferred resource of 14.5 Mt with an average grade of 5.47 g/t Au for 2.55 Moz of gold (Au). Resource estimate incorporated 289 drillholes totalling 127,217 m of drilling. The system remains open in multiple directions with clear potential for resource upside. Kenorland’s 4% NSR royalty now backed by formal high-grade multi-million ounce gold resource.

Zach Flood, President and CEO of Kenorland, commented, “The maiden mineral resource estimate of the Regnault gold deposit firmly underpins the value of Kenorland and our 4% NSR royalty. Achieved in under five years from grassroots discovery, at a low discovery cost of roughly $20/oz, Regnault has emerged as a high-grade, multi-million-ounce gold deposit that remains wide open for expansion. Discoveries of this magnitude are rare and given the relatively modest amount of drilling completed to date, substantial upside potential remains.”

The maiden 2025 Regnault Mineral Resource Estimate (MRE) incorporates all drilling completed to the end of the 2025 winter program, comprising 289 diamond drill holes totalling 127,217 metres. Modelled grade shells, each supported by a minimum of three drill holes at up to approximately 100-metre spacing, include 92 high-grade veins defined using a 2.50 g/t Au cut-off, as well as a broader low-grade envelope encompassing 91 veins at a 0.30 g/t Au cut-off.

The MRE is constrained within underground resource panels based on a 2.15 g/t Au cut-off and a 1.5 metres minimum mining width for long-hole stopes, and a 2.61 g/t Au cut-off with a 2.5-metre minimum mining width for cut-and-fill stopes. Mining methods were selected based on the general geometries and dip of the modelled grade shells. Material within a 100 metres crown pillar was also excluded from the MRE.

Drilling to date has intersected high-grade gold mineralization extending well beyond the boundaries of the current Inferred Mineral Resource Estimate, underscoring significant potential for resource expansion. Several areas of the deposit, including 19 modelled high-grade shells, did not meet the drill-spacing requirements for Inferred classification. This is most notable in the southern portion of the system, including the entire R10 and R11 vein sets and portions of the R9 trend, where further infill drilling has the potential to incorporate additional high-grade mineralisation into future resource estimates.

Key examples of high-grade mineralization, remaining open and outside the resource estimate, include: Within the modelled R10 trend: 3.00m at 10.09 g/t Au, including 1.00m at 27.35 g/t Au (25RDD232); within the modelled R11 trend: 6.70m at 30.41 g/t Au, including 2.75m at 72.56 g/t Au (25RDD252); 7.70m at 16.26 g/t Au, including 0.70m at 121.70 g/t Au (25RDD252); and 4.45m at 11.96 g/t Au (23RDD172); along strike and 250m outside the modelled R11 trend: 4.75m at 5.97 g/t Au, including 0.50m at 46.70 g/t Au and 1.20m at 55.70 g/t Au (23RDD159) and along strike and 600m outside the modelled R9 trend: 1.20m at 13.83 g/t Au and 4.75m at 3.93 g/t Au, including 1.25m at 12.03 g/t Au (25RDD240)^.

These results demonstrate extensive high-grade gold mineralization well beyond the current resource footprint, and along with the potential to discover additional veins, highlight the upside for future resource expansion.

The Project covers 38,930 hectares of the Frotet-Evans greenstone belt within the Opatica geological sub-province of Quebec. The property is adjacent to the past-producing Troilus Gold’s Au-Cu mine (9.32Moz Au Indicated Mineral Resource) and covers several major deformation zones associated with known orogenic gold prospects, as well as stratigraphy hosting VMS deposits elsewhere in the belt. Kenorland initially staked the Project in 2017 and then entered into a joint venture and earn-in agreement with Sumitomo in 2018.

The project includes the Regnault gold deposit, a greenfields discovery made by Kenorland and Sumitomo in 2020 following two years of systematic exploration. Since the initial discovery, Regnault has seen extensive exploration, totaling 131,713 metres of drilling (296 drill holes) to date and hosts an Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Moz of gold.

On February 19, 2024, Kenorland closed a transaction to exchange its 20% participating interest in the Frotet Joint Venture with Sumitomo to a 4% NSR Royalty.

The Project is located 100 km north of Chibougamau, Quebec. Favorable infrastructure exists in the project area with an extensive forestry road network as well as the Route-du-Nord crossing the southwestern portion of the property. A power transmission line also crosses through the property which supplied power to the past producing Troilus mine.