Vancouver, British Columbia--(Newsfile Corp. - July 7, 2026) - Auranova Resources Inc. (TSXV: AURA) ("Auranova" or the "Company") and Kenorland Minerals Ltd. ("Kenorland") are pleased to announce the commencement of a 24 line-kilometre induced polarisation (IP) survey at the South Uchi Project (the "Project"), located in the Red Lake District of Ontario. The survey covers the recently discovered North Papa gold trend (see press release dated June 17, 2026) within the larger Papaonga target area, designed to characterise the geophysical response of the mineralised corridor to support future drill targeting beneath glacial cover.
Survey Overview
The IP survey is being undertaken by Abitibi Geophysics of Val-d'Or, Quebec and is expected to commence in late July following completion of line cutting. The survey is designed with a depth of investigation (DOI) of approximately 760 m to image the North Papa hydrothermal system, providing a three-dimensional view of chargeability and resistivity trends associated with alteration and sulphide mineralisation within the felsic intrusive rocks that host gold mineralisation. Results will be integrated with geological and drilling data to refine future drill targeting along the North Papa mineralised corridor.
Figure 1. Plan map of Papaonga with IP survey location and drill hole locations including highlights from previous press releases
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The survey comprises eight parallel 3 km lines spaced 250 m apart and oriented perpendicular to the North Papa mineralised corridor, for a total of 24 line-kilometres of coverage. The survey layout has been designed to provide comprehensive coverage of the discovery area, with the objective of further constraining the geometry and extent of the mineralised corridor ahead of the next phase of drilling.
About South Uchi Project
The South Uchi Project was first identified and staked by Kenorland based on the under-explored region's prospectivity to host significant gold mineralised systems. The Project covers a portion of Confederation Assemblage volcanic rocks, as well as the boundary between the Uchi geological subprovince to the north and the English River geological subprovince to the south.
Multiple major east-west striking deformation zones associated with the subprovince boundary transect the Project, resulting in zones of strong shearing and folding of the supracrustal stratigraphy, which are favourable settings for orogenic gold mineralisation. Prior to Kenorland staking the Project, records indicated little to no systematic exploration had been completed, and the land package remained under-explored. The majority of gold deposits in the Red Lake District (Red Lake, Madsen, Hasaga, and others) are located on the northern margin of the Confederation Assemblage. However, recent discoveries such as the LP Fault Zone on the Dixie Project by Great Bear Resources Ltd. (acquired by Kinross Gold and renamed Great Bear Project) highlight the prospectivity of the entire Confederation Assemblage along the southern margin of the Uchi subprovince.
Auranova to date has spent C$14.7 million in qualifying expenditures and will earn a 70% interest in South Uchi by spending an additional C$3.3 million.
Figure 2. Regional volcanic assemblages with significant gold deposits and South Uchi Project location
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1 32.9 million tonnes of Measured and Indicated mineral resources at a grade of 2.7 g/t Au (2.8 Moz Au). 22.7 million tonnes of Inferred mineral resources at a grade of 4.5 g/t Au (3.3 Moz Au). Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Company's property. Source: Kinross reports 2023 fourth-quarter and full-year results: (Date February 14, 2024) - Updated resource to the technical report titled Great Bear Project Ontario, Canada prepared by Nicos Pfeiffer, P.Geo., John Sims, CPG, Yves Breau, P.Eng., Rick Greenwood, P.Geo., Agung Prawasono, P.Eng., issued February 13, 2023
Qualified Persons
William Yeomans, B.Sc., P.Geo. (EGBC #027187, PGO #2177), an independent "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
About Auranova Resources
Auranova Resources Inc. (TSXV: AURA) is an explorer of precious metal projects in the highly prospective Red Lake region of Ontario. The Company is focused on the discovery of new gold systems in the Birch Uchi Belt in partnership with Kenorland Minerals Ltd., as well as expanding its presence in the greenstone belts of Ontario.
Further information can be found on the Company's website www.auranovaresources.com.
On behalf of the Board of Directors of Auranova Resources Inc.,
Thomas Obradovich
Chief Executive Officer
Tel: +1 416 985 7140
Email: info@auranovaresources.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. Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Company's property. 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: Auranova Resources Inc.
