Kenorland Begins 15,000-Meter Drill Program at South Uchi Project near Red Lake

Kenorland Minerals Ltd. has commenced a maiden 15,000-meter diamond drill program at its South Uchi Project in the Red Lake District of Ontario. The program, operated under an option agreement with Auranova Resources Inc., marks the first systematic drilling campaign on the property.

"This initial drill program at South Uchi is the culmination of years of systematic exploration and represents a major step forward in testing the extensive gold-in-till and heavy mineral anomalies we have identified," said Zach Flood, CEO of Kenorland Minerals. "The presence of high-grade gold in surface sampling results, coupled with favourable structural settings, makes the Papaonga target an exciting opportunity for discovery."

Winter 2025 Exploration Program

Auranova has approved an $8.0 million budget for the program, which aims to test the Papaonga target along a six-kilometer strike length. The area has demonstrated widespread gold mineralization in recent surface exploration, including rock sampling assays up to 13.35 g/t gold.

Drilling will focus on three principal target areas:

• Sheared margin of the Papaonga diorite

• Northeast-trending shear zones transecting folded clastic sedimentary rocks, iron formations, and volcanic stratigraphy

• East-west trending shear zones through folded calc-alkaline and tholeiitic volcanic rocks

No historical drilling has been conducted in the Papaonga target area.

Geological Context

South Uchi is situated within the Confederation Assemblage, a highly prospective but underexplored portion of the Uchi geological subprovince. The project area is transected by multiple regional deformation zones associated with strong shearing and folding—ideal conditions for orogenic gold mineralization. The region has seen limited systematic exploration, but recent discoveries, such as the LP Fault Zone at the Great Bear Project, underscore the district's potential.

Option Agreement with Auranova

Under the definitive agreement signed in December 2024, Auranova can earn up to a 70% interest in the South Uchi Project. The agreement includes:

• An initial 51% interest upon completion of $8.0 million in qualifying expenditures or 15,000 meters of drilling, along with $500,000 in cash payments to Kenorland

• The issuance of 19.9% of Auranova’s shares to Kenorland, maintaining that position until Auranova raises $10.0 million in equity

• An additional 19% interest (totaling 70%) if Auranova spends an additional $10.0 million by the third anniversary of its election to proceed

Kenorland will retain a 30% carried interest through the completion of a Preliminary Economic Assessment, at which point a joint venture will be formed.

The winter drill program is expected to conclude in late March.

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