Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce that it has acquired, through staking, 125,430 hectares of mineral claims within the Onaman-Tashota Greenstone Belt in Northern Ontario (the "Kowkash Project") as well as 119,779 hectares of mineral claims located in Central New Brunswick (the "Atlantic Project"). In addition, Kenorland has entered into a purchase and sale agreement, dated May 26, 2025 (the "Purchase Agreement") with a private BC company pursuant to which Kenorland has purchased a 100% interest in 31,052 hectares of mineral claims adjacent to the Atlantic Project.
Zach Flood, President and CEO of Kenorland Minerals, states, "The recent additions in Ontario and New Brunswick continue the steady expansion of Kenorland's exploration portfolio into underexplored yet highly prospective regions of Canada. As demand for quality grassroots opportunities grows, we remain committed to applying our systematic approach to generate and advance new discoveries."
About the Kowkash Project
Kenorland acquired the 125,430-hectare Kowkash Project in northwestern Ontario through map staking. The Project covers a prospective terrane with relatively low exploration maturity, largely concealed by glacial overburden. It covers a portion of the Onaman-Tashota Greenstone Belt in the Eastern Wabigoon Sub-province of the Archean Superior Province. This underexplored greenstone belt is composed of a sequence of metavolcanic and metasedimentary rocks intruded by syn- to post-tectonic plutons. The project area is transected by major regional structures, including splays of the Tashota-Geraldton-Terrace Bay deformation zone, and is prospective for orogenic and volcanic hosted massive sulphide (VHMS) mineralisation styles hosting high-grade Au, Ag, Cu, and Zn. Historic showings in the area, including the Marshall Lake VHMS and Louanna orogenic showings, have identified significant alteration systems and mineralisation indicating a fertile geological environment. The Kowkash Project represents a compelling opportunity for discovery in one of Ontario's lesser-explored greenstone belts. The Company plans to complete a first-pass regional geochemical sampling program during the 2025 summer field season.
Figure 1. Geological map illustrating Kowkash Project location in Ontario
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Figure 2. Kowkash Project location in Ontario
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About the Atlantic Project
In addition to the 31,052 hectares acquired through the Purchase Agreement, Kenorland acquired a further 119,779 contiguous hectares through map staking, bringing the total project area to 150,831 hectares. The Atlantic Project is situated within the northern Appalachian orogen of western New Brunswick, covering a highly prospective segment of the Gander and Dunnage zones-recognized for hosting a variety of gold and polymetallic deposits. The project area encompasses a diverse assemblage of Silurian to Devonian volcanic, volcaniclastic, and sedimentary rocks intruded by felsic to mafic plutons. This setting is prospective for epithermal, VHMS and intrusion related mineralisation styles hosting significant Au, Ag, Pb, Zn, and Cu. Key mineralised showings in the project area include the Williams Brook epithermal, Costigan Mountain epithermal, Sewell Brook VHMS, and Lewis Brook epithermal deposits. These occur within favorable structural corridors and lithologic contacts of the Tobique-Chaleur metallogenic belt, an emerging and active exploration district. The Atlantic Project area has seen limited historical work, presenting a unique opportunity for discovery through modern, systematic exploration approaches.
Figure 3. Geological map illustrating the Atlantic Project location in New Brunswick
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Figure 4. Atlantic Project location in New Brunswick
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Terms of the Purchase Agreement
Pursuant to the Purchase Agreement, the Company will acquire a 100% interest in the Atlantic Project through the issuance of common shares of the Company ("Shares") having a deemed value of $174,440.76. Additionally, the Company will grant a 0.5% net smelter return royalty applicable only to the mineral claims acquired under the Purchase Agreement.
All Shares issuable pursuant to the Purchase Agreement will have a deemed issuance price equivalent to the market price of such Shares at the time of issuance. The Shares will also be subject to a four-month and one day resale restriction from the date of their issuance. The Purchase Agreement and the issuance of the Shares thereunder are subject to the approval of the TSX Venture Exchange.
Qualified Person
Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824) a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
About Kenorland Minerals
Kenorland Minerals Ltd. (TSXV: KLD) 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% net smelter return royalty on the Frotet Project in Quebec which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada Ltd. in 2020. Kenorland is based in Vancouver, British Columbia, Canada.
Further information can be found on the Company's website www.kenorlandminerals.com.
On behalf of the Board of Directors,
Zach Flood
President, CEO & Director
For further information, please contact:
Alex Muir, CFA
Corporate Development and Investor Relations Manager
Tel +1 604 568 6005
info@kenorlandminerals.com
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Kenorland Minerals Ltd.
