Mr. Zach Flood reports

KENORLAND ENTERS DEFINITIVE AGREEMENT TO SELL THE SOUTH THOMPSON PROJECT TO EVOLUTION NICKEL

Kenorland Minerals Ltd. has entered into a definitive purchase and sale agreement with Evolution Nickel Corp. pursuant to which Evolution will acquire 100 per cent of the South Thompson nickel project. Pursuant to the terms of the agreement, Evolution has agreed to issue Kenorland 26 million common shares of Evolution (for a 50-per-cent equity ownership interest prior to the closing of the financing) and grant Kenorland a 2-per-cent net smelter return royalty over the entirety of the South Thompson project at closing of the transaction.

At closing, Kenorland and Evolution will enter into (i) a definitive agreement in respect of the royalty; (ii) an investor rights agreement giving Kenorland the right to appoint a director to Evolution's board of directors and a pre-emptive right to maintain Kenorland's pro-rata ownership interest; and (iii) an operator services agreement providing for Kenorland's continued operation of the project postclosing. Closing is expected to occur prior to Dec. 31, 2024.

In addition to customary conditions precedent for a transaction of this nature, including the prior approval of the TSX Venture Exchange, closing is conditional upon Evolution completing an equity financing for gross proceeds of not less than $4-million.

About Kenorland Minerals Ltd.

Kenorland Minerals is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America.

We seek Safe Harbor.