Kenorland Minerals Ltd. provided an update of its 2023 exploration activities, highlighting advancements on projects located in Quebec, Ontario, Manitoba, BC, and Alaska, including projects held under agreements with Sumitomo Metal Mining Canada Ltd. ("Sumitomo"), Newmont Corporation ("Newmont"), Centerra Gold Inc. ("Centerra"), and Antofagasta Minerals ("Antofagasta"). The total updated forecast for exploration expenditures on properties in which Kenorland holds direct or royalty interests is anticipated to be over $31.4 million in 2023, which includes up to $26.4 million in exploration financed by partners. The Company's current cash position is approximately $24 million.

In addition, Kenorland holds equity positions of approximately $4.7 million in various private and publicly listed companies generated by past property transactions. 2023 Exploration Update. Frotet Project, Quebec: Drill results from the 2023 Winter Program were announced on May 31, and August 8, 2023, highlighting the discovery of multiple new vein structures in the deepest parts of the Regnault gold system, including the R10 and R11 structures which returned 55.70 g/t Au over 1.20m from 23RDD159 as well as 2.56 g/t Au over 41.85m including 11.96 g/t Au over 4.45m from 23RDD172.

The 2023 Fall exploration program kicked off mid September. The Frotet Project is held under joint venture with Sumitomo. Chebistuan Project, Quebec: In the first quarter, the Company completed a 2,170m, 7 hole maiden diamond drill program at the Deux Orignaux target area.

Drilling returned 0.41 g/t Au over 157.20m including 0.97 g/t Au over 20.61m from hole 23DODD005 highlighting the new discovery of an intrusion related gold system. This target area was defined by gold and pathfinder element anomalism in glacial overburden identified from multiple phases of systematic geochemical surveys, beginning with a regional program in 2021 covering the entire 159,690 hectare property. A follow-up drill program has been planned for early 2024, pending final approval from Newmont.

Tanacross Project, Alaska: The Company completed 2,541m of diamond drilling covering the West Taurus and East Taurus target areas. Planning for a maiden drill program in 2024 is underway, subject to final approval from Sumitomo.icobi Project, Quebec: The summer phase of sonic overburden drilling ("drill-till"), including 55 sonic drill holes to sample glacial till beneath extensive glacial lake sediment cover, has been completed along the Roch-Can trend. Limited historical drilling and previously completed sonic drill holes have identified an alteration corridor spanning 17 kilometers in strike length and broadly associated with Au-Zn-Ag anomalism within the bedrock and glacial overburden.

The Company expects the winter phase of sonic drilling to be completed in First Quarter 2024, which will include up to 75 sonic drill holes. The Chicobi Project is currently held under joint venture withSumitomo. Hunter Project, Quebec: Following an initial property-wide VTEM survey (1110 line-km) flown in 2021 and a property-wide drill-for-till sonic program, completed in 2022, the Company completed a detailed drone magnetic survey in April this year.

Efforts are now focused on land access and permitting in preparation for a follow-up detailed sonic drill program covering priority target areas identified from the initial regional program and magnetic survey. A follow-up detailed sonic drill programs is expected to commence early 2024, pending required permits and final approval from Centerra. South Uchi Project, Ontario: The Company recently completed a number of large-scale geochemical and prospecting surveys targeting gold, nickel-copper, and lithium mineral systems across the 83,385 hectare project area.

Healy Project, Alaska: The Company completion an extremely low frequency electromagnetic ("ELF-EM") survey covering the kilometer-scale Healy gold system during the summer in order to refine drill targets for future exploration. Compilation and digitization of historical exploration data, including 300 drillholes, has been completed along with re-processing of historical airborne magnetics and electromagnetic surveys. Western Ontario Portfolio: The Company recently acquired, has been completed along with Re-processing of historical airborne magnetic surveys, has been completed a number of historical exploration data, has been completed, has been completed along with geochemical and electromagnetic surveys.