Mr. Zach Flood reports

KENORLAND MINERALS ANNOUNCES $11 MILLION NON-BROKERED PRIVATE PLACEMENT

Kenorland Minerals Ltd. has arranged a non-brokered private placement of up to 5,238,095 common shares at a price of $2.10 per share for gross proceeds of up to $11-million.

There is an offering document related to the financing that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

As disclosed in the offering document, proceeds of the financing will be utilized to finance the company's exploration activities on its existing project portfolio, for potential future property acquisitions and for general working capital.

The financing is expected to close on or about Nov. 3, 2026, or such other date as the company may determine, subject to certain conditions, including the approval of the TSX Venture Exchange. The company may close the financing in multiple tranches.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the shares will be offered for sale to purchasers resident in all provinces and territories of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. As a result, the shares are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

The company may pay cash finders' fees to registrants of 6 per cent of the proceeds raised.

The company reserves the right to increase the number of shares offered in the financing by up to 2,508,002 additional shares, for additional gross proceeds of $5,266,804, as an overallotment option to accommodate existing participation rights held by strategic investors, as well as interest from other significant investors.

Insiders may participate in the offering. Any participation by insiders will constitute a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. In the event of insider participation, the company expects to rely upon exemptions from formal valuation and the minority shareholder approval requirements of MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of such subscriptions will not constitute more than the 25 per cent of the company's market capitalization.

About Kenorland Minerals Ltd.

Kenorland Minerals is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. 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-per-cent net smelter return royalty on the Frotet project in Quebec, which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada Ltd. in 2020, which contains an inferred mineral resource of 14.5 million tonnes at 5.47 grams per tonne (g/t) gold (Au) for 2.55 million ounces (oz) of gold. Kenorland is based in Vancouver, B.C., Canada.

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