Mr. Zach Flood reports

KENORLAND ANNOUNCES TERMINATION OF JOINT VENTURE EXPLORATION AGREEMENT AT THE CHICOBI PROJECT, QUEBEC

Sumitomo Metal Mining Canada Ltd. has elected to withdraw from the earn-in and joint venture exploration agreement dated Feb. 15, 2019 (JVEA), for Kenorland Minerals Ltd.'s Chicobi project, located in Quebec. The termination of the JVEA is effective Dec. 6, 2024, and Sumitomo will transfer its participating interest in the project to Kenorland, resulting in Kenorland owning 100 per cent of the project.

About the Chicobi project

The Chicobi project covers 48,109 hectares and over 45 kilometres of strike along the Chicobi deformation zone (CDZ), a major, yet underexplored structural break transecting the Abitibi greenstone belt of Ontario and Quebec. Along the strike length of the project, the CDZ is marked by the juxtaposition of a large sedimentary basin and volcanic packages, and Timiskaming-type late-basin polymictic conglomerates. The CDZ is analogous to the other major breaks that host world-class Au deposits of the Abitibi, such as the Cadillac-Larder Lake, Casa-Berardi and Sunday Lake -- Lower Detour deformation zones, and has the potential to host significant orogenic gold and VMS mineralization.

The company completed a phase of sonic overburden drilling, including 66 sonic drill holes in early February, 2024. This program was a continuation to the 55 sonic drill holes completed in 2023, for a total of 121 infill sonic holes completed along the Roch-Can trend, an alteration corridor 17 kilometres in strike length along the major volcanic-clastic sedimentary basin contact within the Chicobi deformation zone. The trend is composed of strong sericite-carbonate-silica plus or minus fuchsite-chloritoid alteration associated with a massive to semi-massive sulphide-quartz breccia zone within mafic volcanic-felsic volcanic-clastic sedimentary rock stratigraphy.

Qualified person

Cedric Mayer, MSc, PGeo (OGQ No. 02385), qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

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. The Frotet project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada in 2020. Kenorland is based in Vancouver, B.C., Canada.

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