Kenorland reports 3.30 metres of 26.67 g/t gold at the Frotet Project, Quebec

Kenorland Minerals Ltd. [TSXV: KLD; OTCQX: KLDCF; FSE: 3WQ0] reported the results from the 2024 summer exploration program at the Frotet Project in northern Quebec. Assays from the six drill holes, totaling 3,266 metres of drilling completed during the program, are reported herein. Kenorland currently holds a 4% net smelter return royalty and is operator of the Project.

Highlights include the following: 24RDD223: 3.30m at 26.67 g/t Au, including 0.60m at 137.30 g/t Au at R6; 24RDD224: 6.35m at 9.78 g/t Au incl. 0.40m at 112.70 g/t Au at R4; 24RDD223: 5.40m at 7.35 g/t Au incl. 0.75m at 26.80 g/t Au at R6; 24RDD223: 1.90m at 18.40 g/t Au at R6; Updated geologic model of the Regnault vein system defining R1-R12 vein sets.

The 2024 summer drill program primarily tested step-out targets generated from the recently completed geologic model update of the Regnault gold system. Five drill holes testing down-dip extensions of the north dipping R1 and R6 trends and south dipping R4 trend successfully intersected the mineralized structures. One drill hole was completed through the area of the preliminary exploration decline design for technical baseline studies, condemnation purposes and testing the R6 mineralized structure at depth.

The updated geologic model indicated potential for structural complexity where the north dipping R1 and R6 mineralized structures are projected to intersect with the south dipping R4 vein sets. The main objective of the 2024 summer drill program was to test the extension of these known vein sets.

Drill hole 24RDD223 returned significant results along the R6 trend, including 5.40 metres at 7.35 g/t gold, including 0.75m at 26.80 g/t Au, 3.30m at 26.67 g/t Au including 0.60m at 137.30 g/t Au, and 1.90m at 18.40 g/t Au, a 70-metre step-out at depth below 22RDD143 which returned 1.83 metres at 18.09 g/t Au, and 2.31m at 8.97 g/t Au including 0.44m at 32.40 g/t Au.

Along the R4 mineralized structures, drill hole 24RDD224 returned 6.35m at 9.78 g/t Au including 0.40m at 112.70 g/t Au, a 100-m step-out to the east and down dip from drill hole 22RDD132 that returned 3.30m at 3.97 g/t Au including 0.80m at 8.70 g/t Au. These encouraging results suggest potential for additional mineralization at depth within this portion of the Regnault gold system and remains a priority target for additional follow-up drilling.

Drill hole 24RDD226ED was completed through the area of the preliminary exploration decline design for geotechnical and geochemical studies, refining the geologic model and for condemnation purposes. Data will be used for the technical baseline studies to support the permitting process, and design and development of the exploration decline. Low-grade mineralisation was returned within the area of the proposed exploration decline design before intersecting the R6 mineralized structure at depth returning 6.35m at 1.31 g/t Au, including 0.30m at 11.10 g/t gold.

The Frotet Project covers 39,365 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 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 Metal Mining Canada Ltd. in 2018.

The project hosts 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 103,987 meters of drilling (226 drillholes).

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. Kenorland remains the operator for a minimum of one year from the transaction closure date.

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.

Kenorland’s exploration strategy is to advance greenfields projects through systematic, property-wide, phased exploration surveys financed primarily through exploration partnerships including option to joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec which is owned by Sumitomo Metal Mining Canada Ltd.