VANCOUVER - Kainantu Resources Ltd. (TSXV: KRL) ('KRL' or the 'Company'), the Asia-Pacific focused gold mining company, is pleased to announce outcomes from the recently completed airborne geophysical survey conducted over both its KRL North and KRL South projects.

The completion of airborne geophysical surveying and analysis over the Kainantu region supports the highly prospective nature of the KRL tenement portfolio for porphyry Cu-Au and epithermal Au deposits (which is on trend with the successful K92 mine).

Matthew Salthouse, CEO of KRL, commented: 'The KRL airborne geophysics survey and subsequent analysis has proven to be a successful venture for the Company, confirming the highly prospective nature of both KRL North and KRL South; supporting ongoing work at the projects. In addition, the survey has also identified other targets and prospects in the region.'

Background

Located along the world renowned Kainantu Transfer Structure, KRL holds two highly prospective projects, KRL North and KRL South, in a district associated with highly successful mining projects.

KRL North

At KRL North, given proximity to the K92 mine, the Company has continued field work and studies to build confidence on the structural similarities and potential trend between the project and the Bilimoia Mineral Field (inclusive of two significant vein systems at Maniape and Arakompa only 2 to 4 km outside of the SE corner of KRL North).

In 2021, a mapping and sampling programme was conducted with the objective of assessing whether such enhanced structural permeability extends into KRL North. Results were extremely encouraging, with several altered and intrusive bodies observed and interpreted as associated with the Elandora Porphyry. A ring feature observed on the southern border of KRL North was found to be underlain by an extensive outcrop of phyllic altered intrusive rocks which was considered to indicate potential porphyry style mineralisation at depth.

Initial analysis from the airborne geophysics program conducted by K92 also appears to demonstrate a NE linear zone of high conductivity trending towards KRL North, likely indicating throughgoing structures possibly associated with contained water and/or sulphide-bearing zones. Further details are contained in KRL's release of March 10, 2022.

KRL South

At KRL South, the Company's initial focus has been around the Tirokave area, with three prospects identified for further investigation: East Avaninofi (where a 40 g/t Au sample was collected), Yaoro Ridge and Tebeo Ridge.

The area is of interest has extensive outcrops identified within the Akuna Igneous complex, including scattered dykes and plugs of the Elandora Porphyry and intrusives associated with other successful projects in the region.

Trenching is currently underway at East Avaninofi and Yaoro Ridge, where the company continues to collect samples and undertake further mapping in preparation for potential delineation of drill targets. With the area remaining highly prospective, KRL is also looking more broadly at other regional targets in KRL South.

Airborne Geophysical Survey

As noted in the Company's release of March 10, 2022, encouraging results and analysis have confirmed the Company's views on the prospective nature of both KRL North and KRL South, justifying an airborne geophysical survey of the area.

KRL co-operated with other miners in the Kainantu region in Q4 2021/Q1 2022 to share resources to mobilise for airborne geophysical surveys over respective projects, with KRL having flown its survey in January-February 2022.

Airborne survey data was collected by EGL (who operate the Mobile Magneto Tellurics, or Mobile MT system). The area surveyed included all prospective areas of KRL North in addition to key areas of interest in and around the Tirokave area of KRL South (including the East Avaninofi and Yaoro Ridge prospects).

Survey lines for all three areas were flown in an E-W direction, at 200m spacing, with tie lines at right angles (N-S), every 2,000m. On completion of the survey in February 2022, EGL completed preliminary data processing and a final survey report was delivered in April 2022.

This data was then delivered to Computational Geosciences Inc. ('CGI'), of Vancouver, who completed advanced processing and modelling; with 3D inversion conductivity models, and magnetic susceptibility and magnetization vector models produced, after data clean-up using a proprietary Power Line Monitor algorithm (which only impacted the eastern part of KRL North). This final work was completed at the start of June and the Company can now report results through to the advanced processing and modelling stage.

About Kainantu Resources (KRL)

Kainantu Resources 'KRL' is an Asia-Pacific focused gold mining company with three highly prospective gold-copper projects, KRL South, KRL North and the May River Project. All projects are located in premier mining regions in PNG. Both KRL North and KRL South show potential to host high-grade epithermal and porphyry mineralisation, as seen elsewhere in the high-grade Kainantu Gold District. The May River project is in close proximity to the world-renowned Frieda River Copper-Gold Project, with historical drilling indicating the potential for significant copper-gold projects. KRL has a highly experienced board and management team with a proven track record of working together in the region and an established in-country partner. KRL recently executed an agreement to acquire the Kili Teke project in the western highlands of PNG.

Disclaimer and Forward-Looking Information

Mineralisation hosted on adjacent and/or nearby properties is not necessarily indicative of mineralisation hosted on the Company's property. The data disclosed in this release relating to drilling results is historical in nature. This release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: formulation of plans for drill testing and the success related to any future exploration or development programs. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include; success of the Company's projects; prices for gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: fluctuations in gold prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar); operational risks and hazards inherent with the business of mineral exploration; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices, including environmental, export and import laws and regulations; legal restrictions relating to mineral exploration; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Contact:

Matthew Salthouse

Tel: + 65 8318 8125

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