Makenita Resources Receives Drill Permit for Ontario Silver-Cobalt Project, Set to Commence Maiden Drilling Campaign

Rhea-AI Summary

Makenita Resources (KENYF) has secured regulatory approval for its drilling permit at the Hector Silver/Cobalt Property in Ontario's Timiskaming District. The company plans to commence its maiden drilling program targeting high-priority zones identified through recent geological assessments. The Hector Property spans 126 unpatented mineral claims across 2,243 hectares in the historic Larder Lake Mining Division. Additionally, Makenita recently achieved DTC eligibility for its U.S. trading symbol KENYF, enabling electronic clearing and settlement of shares for American investors. The company aims to leverage its tightly held share structure and positive commodity fundamentals to establish itself as a notable exploration player in the North American resource sector.

Positive

• Receipt of drilling permit enables immediate commencement of maiden drilling program
• Strategic property location in historic mining district with proven silver and cobalt production
• Recent DTC eligibility achievement improves access for U.S. investors
• Company has a tightly held share structure

Negative

• Early-stage exploration project with no proven resources yet
• Results from drilling program are uncertain and may not meet expectations

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2025) - Makenita Resources Inc. (CSE: KENY) (OTC Pink: KENYF) (WKN: A40X6P) is pleased to announce that it has received final regulatory approval for its drilling permit at the Hector Silver/Cobalt Property, located in Ontario's Timiskaming District. The company will now move forward with its maiden drill program, with mobilization to the site and the commencement of drilling expected to take place in the coming days.

The Hector Property, situated within the historic Larder Lake Mining Division, comprises 126 unpatented mineral claims across 2,243 hectares. Initial drilling will target several high-priority zones identified through recent geological assessments and early-stage fieldwork, with a particular focus on structures known to host silver and cobalt mineralization.

"This is a major step forward for Makenita," said Jason Gigliotti, President and CEO of the company. "With the drill permit in hand, we're excited to begin testing the potential of the Hector Property and to generate the kind of news flow that comes with active exploration. We believe this project has significant upside and today marks the beginning of our efforts to unlock that value."

The announcement comes on the heels of another milestone achievement for the company-its recent confirmation of full DTC (Depository Trust Company) eligibility for its U.S. trading symbol, KENYF. This status allows Makenita's shares to be electronically cleared and settled in the United States, streamlining the process for American investors to buy, sell, and hold the company's stock.

"Securing DTC eligibility was an important foundation for broadening our investor base, particularly in the U.S.," Gigliotti added. "Now, with drilling about to be underway and visibility growing on both sides of the border, we believe we're entering a period of increased market interest and momentum."

Located in a mining-friendly jurisdiction with a long history of silver and cobalt production, the Hector Silver/Cobalt Project represents a key strategic asset for Makenita. With commodity fundamentals trending positively and a tightly held share structure, the company is aiming to position itself as a compelling exploration story in the North American resource sector.

For more information, visit www.makenitaresources.com or contact:

Jason Gigliotti
President, CEO & Director
Phone: 604-609-6527
Email: info@makenitaresources.com

The CSE has neither approved nor disapproved of the contents of this press release.

Forward-Looking Statements

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Makenita. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Makenita disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254138

FAQ

What is the significance of Makenita Resources (KENYF) receiving the drill permit?

The drill permit allows Makenita to begin its maiden drilling program at the Hector Silver/Cobalt Property, marking a crucial step in exploring and potentially developing the property's mineral resources.

Where is Makenita Resources' (KENYF) Hector Property located and what is its size?

The Hector Property is located in Ontario's Timiskaming District within the Larder Lake Mining Division, comprising 126 unpatented mineral claims across 2,243 hectares.

What does DTC eligibility mean for Makenita Resources (KENYF) stock?

DTC eligibility allows Makenita's shares to be electronically cleared and settled in the United States, making it easier for American investors to trade and hold the company's stock.

What are the main targets for Makenita Resources' (KENYF) drilling program?

The drilling program will target several high-priority zones identified through recent geological assessments, focusing specifically on structures known to host silver and cobalt mineralization.

Who is leading Makenita Resources (KENYF)?

Jason Gigliotti serves as the President, CEO, and Director of Makenita Resources.