Kenorland Minerals Ltd. announce final 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. Assays from the remaining 8 of 15 drill holes completed, including 6,679 meters of the 13,360 meter program are reported herein. The Company is also pleased to provide an update on the upcoming fall drill program and exploration activities planned to begin in September. The reported intersections are the final 8 drill hole results from the 15-hole 2023 winter drill program at Regnault.

The majority of drilling was designed with broad step outs to follow up on multiple new vein discoveries of the 2022 program, including an area of limited drilling between the R5-R6-R7-R8 discoveries and the R2-R3 structures. Mineralisation was intersected across multiple structures, linking these two vein corridors for a combined strike length of 1.8 kilometers. Additional deep drilling was completed to explore for sub-parallel structures south of known mineralised zones within the Regnault intrusive complex.

These deep holes were successful in discovering new vein systems at vertical depths of up to 1,000m (R9, R10 and R11 structures) and intersected mineralisation over strike lengths of up to 450m, remaining open in multiple directions. The intersections of high-grade gold mineralisation, including 4.45m at 11.96 g/t Au in 23RDD172, demonstrate the continued exploration potential of the Regnault system at depth. Drill hole intersections along the R1-R5 structures include 23RDD169 which returned 0.35m at 98.80 g/t Au.

This hole extends mineralisation on the R5 structure at 300m vertical depth, and the structure at this area notably remains open at depth. Drill hole 23RDD169 also tested parallel structures in the area of limited drilling between R2-R3 and the R5-R6-R7-R8 discoveries, returning 7.00m at 5.31 g/t Au, including 0.60m at 36.30 g/t Au. Along with intersections in 23RDD166 of 24.70m at 3.28 g/t Au including 0.35m at 34.50 g/t Au and 1.77m at 26.09 g/t Au as well as 23RDD168 of 4.89m at 3.00 g/t Au including 0.33m at 34.30 g/t Au, a link between the structures is indicated at the 300-375m vertical depth with mineralisation notably remaining open at depth on these trends.

Deep drilling testing for additional deep sub-parallel structures was successful, with drill hole 23RDD172 intersecting 0.34m at 31.70 g/t Au at 650m depth from surface and 41.85m at 2.56 g/t Au including 4.45m at 11.96 g/t Au at 1000m depth from surface. These intercepts confirm the significance of the new vein discoveries. Along with previously reported 2023 winter results including 23RDD159 which returned 4.75m at 5.97 g/t Au and 1.20m at 55.70 g/t Au, and 23RDD162 returning 2.01m at 5.25 g/t Au on the R11 mineralised structure, a strike length of at least 450m is indicated, attesting to the continued potential of the Regnault system at depth.

Gold mineralisation of the Regnault vein system is associated with multiple east-west trending and north- dipping shear zones. Mineralised structures transect both the multiphase Regnault intrusive complex and surrounding volcanic rocks and are defined by zones of moderate-strong strain, biotite-calcite ± silica- chlorite alteration and disseminated pyrite (locally ranging from 3-10%). High grade intercepts are characteristically shear-hosted laminated quartz-carbonate-pyrite veins, often haloed by variably deformed extensional stockwork quartz veining locally containing up to 20% pyrite along with trace chalcopyrite, Au ± Ag tellurides and visible gold.

Systematic 3D modelling was done at the Regnault system, utilizing logged geological data, core- oriented structural and geochemical information. The broad exploration step outs of the 2023 winter drilling have allowed for definition of important structural geometries in key areas hosting high grade quartz-sulphide veins. Principal outcomes include: the presence and sub parallel nature of the newly discovered R8-R9-R10-R11 structures, clear link between the R2-R3 and R5-R6-R7-R8 structures, and confirmation of the projected geometry of the Regnault intrusive complex at depth.

This improved understanding of the system and orientation of mineralised zones indicates the potential for multiple mineralised structures of significant strike length within the Regnault system. At the conclusion of the 2023 winter drill program, a total of 70,356m over 173 holes have been drilled to date at Regnault, beginning with the discovery drill program in 2020. The upcoming fall drill program, anticipated to begin in mid-September, will include up to 11,300m of diamond drilling.

A large-scale surface geochemical program, including the collection of ~1200 soil samples (glacial till substrate), will also be completed immediately to the east of the Regnault discovery to define additional targets for drill.