Kenorland Minerals Ltd. announced initial drill results from the 2023 winter drill program at the Frotet Project, located in northern Quebec and held under joint venture with Sumitomo Metal Mining Canada Ltd. (SMMCL). Assays from 7 of 15 drill holes completed, including 6,681 meters of the 13,360-meter program are reported herein. The Company is also pleased to report the discovery of multiple additional mineralised vein structures encountered in deep drilling of the Regnault gold system.

Drill highlights include the following: 23RDD163: 15.00m at 14.88 g/t Au incl. 2.00m at 57.15 g/t Au at R1 23RDD167: 3.15m at 138.74 g/t Au incl. 0.40m at 476.40 g/t Au at R5 23RDD162: 7.10m at 12.24 g/t Au incl.

1.70m at 45.14 g/t Au at R2-R8 Gap 23RDD159: 1.20m at 55.70 g/t Au (new vein discovery). The 2023 winter drill program was largely designed to test the strike and depth extent of multiple new vein discoveries made in 2022, including the R5, R6, R7, and R8 structures. Drilling was focused in an area between these new vein discoveries to the east and the R2 and R3 structures to the west, where there had been limited drilling to date.

All drill holes intersected significant mineralisation across multiple structures, linking the eastern vein discoveries to the western structures, defining a corridor of up to 1.8 kilometers of strike containing multiple sub-parallel vein structures hosting high-grade gold mineralisation. In addition to step-out and infill drilling along known structures, deep drilling was designed to explore for additional sub-parallel veins at depth and towards the south of known mineralised structures. The deep holes, up to 1,614m in length (1,250m vertical depth), successfully intersected multiple new vein discoveries, significantly extending the known footprint of the Regnault gold systems to vertical depths of over one kilometer.

23RDD159 intersected 1.20m at 55., a new vein discovery, and the deepest known mineralisation returned to date at 1,000 meters vertical depth. Fifteen drill holes completed during the 2023 winter drill program were designed to infill along the R1 trend while targeting deeper mineralisation to the south. Highlights along the R1 trend include hole 23RDD163 which returned 15.00m at 14.88 g/t Au incl.

1.10m at 37.04 g/t Au and incl. 2.00m at 57.15 g/t Au, located 50m down-dip from 21RDD024 (5.72m at 90.56 g/t Au). Drill holes targeting a large gap in drilling at depth along the R1 and R5 trends includes 23RDD167 which returned 3.43m at 43.23 g/t Au incl.

0.44m at 174.30 g/t Au, and 3.15m at 138.74 g/t Au incl. 0.40m at 476.40 g/t Au, approximately 70m to the west of 22RDD143 (1.83m at 18.09 g/t Au, and 2.31m at 8.97 g/t Au incl. 0.44m at 32.40 g/t Au).

To the south of the R1 trend, drilling has successfully intersected mineralisation linking the R2-R3 (west) and R5-R6-R7-R8 (east) structural corridor, demonstrating a known strike length of 1,800m. Drill holes completed within this gap zone include 23RDD159 which returned 9.62m at 4.22 g/t Au incl. 0.40m at 57.60 g/t Au, located 230m west of hole 23RDD162 which returned 7.10m at 12.24 g/t Au incl.

1.70m at 45.14 g/t Au. Drill holes 23RDD159, 23RDD162 and 23RDD172 were designed to explore for additional sub-parallel veins at depth towards the south of known mineralised structures. Hole 23RDD159 intersected several newly discovered mineralised structures including 4.75m at 5.97 g/t Au incl.

0.50m at 46.70 g/t Au, and 1.20m at 55.70 g/t Au. Drill hole 23RDD162 also intersected several new mineralised structures, approximately 275m to the east of 23RDD159, including 17.57m at 1.45 g/t Au, 6.25m at 2.29 g/t Au, and 2.01m at 5.25 g/t Au, confirming the significance of these newly discovered mineralised structures. Assay results from hole 23RDD172 remain pending.

Geologic and vein models will be updated once all assays have been received from the 2023 winter drill campaign.