Kenorland Minerals Expands Exploration Portfolio in Northern Ontario
Rhea-AI Summary
Kenorland Minerals (OTCQX: KLDCF) entered purchase agreements dated March 26, 2026 to acquire 100% interests in two Ontario claim packages: 10,200 hectares (McVicar Agreement Area) expanding the Lang Lake Project and 58,700 hectares (Rottenfish Agreement Area) expanding the Muskrat Dam Project.
The acquisitions increase Kenorland's regional footprint in the Birch-Uchi Subprovince and Muskrat Dam greenstone belt and include a geological map accessible via the company's image link.
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News Market Reaction – KLDCF
In the Mar 26 session, KLDCF gained 4.62%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Vancouver, British Columbia--(Newsfile Corp. - March 26, 2026) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce that it has entered into purchase agreements (collectively, the "Agreements") to acquire a
Figure 1. Geological map showing the locations of the Lang Lake Project within the Birch-Uchi Subprovince and Muskrat Dam Project within the Muskrat Dam Greenstone Belt
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/289996_dc937db024ec59af_001full.jpg
About the Lang Lake Project
The consolidated Lang Lake Project is an 84,000-hectare,
Compilation and digitization of historical data have identified an approximately 2 km trend of anomalous gold in bedrock, representing a priority target for follow-up. A broader, systematic exploration program has been designed to further evaluate economic potential, with Phase 1 LiDAR surveys partially completed and a Phase 2 program planned to include approximately 2,000 soil samples to advance target generation across the property.
Figure 2. Geological map showing the McVicar Agreement Area in relation to the Lang Lake Project and known mineral occurrences
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/289996_dc937db024ec59af_002full.jpg
About the Muskrat Dam Project
The consolidated Muskrat Dam Project is a 142,500-hectare,
Compilation and digitization of historical data have identified multiple prospective target areas across the project, supporting follow-up exploration. Within the Rottenfish Agreement Area, the Eldor Kippey occurrence hosts historical grab samples with values up to 139.2 g/t Au, trench results exceeding 15 g/t Au, and historical drill intercepts including 50.23 g/t Au over 0.4 m and 6.38 g/t Au over 2.4 m, representing a priority target for immediate follow-up.
A broader, systematic exploration program has been designed to evaluate the project's economic potential, with Phase 1 LiDAR surveys planned, followed by a Phase 2 program consisting of approximately 4,400 soil samples to advance target generation across the property.
Figure 3. Geological map showing the Rottenfish Agreement Area in relation to the Muskrat Dam Project and known mineral occurrences
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/289996_dc937db024ec59af_003full.jpg
Terms of the Agreements
McVicar Agreement Area
Under the terms of the McVicar Agreement, the Company has acquired a
In addition, the Company will grant a
Rottenfish Agreement Area
Under the terms of the Rottenfish Agreement, the Company has acquired a
Up to
Upon a production decision on claims comprising the Rottenfish Agreement Area, an additional one-time cash payment of
All common shares of Kenorland issuable pursuant to the Agreements 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 Agreements and the issuance of the Shares thereunder are subject to the approval of the TSX Venture Exchange.
The issuance of Shares under the Agreements will constitute a 'non-cash transaction' under each of the investor rights agreement dated November 5, 2021 between the Company and Sumitomo Metal Mining Canada Ltd. ("Sumitomo") and the investor rights agreement dated May 28, 2024 between the Company and Centerra Gold Inc. ("Centerra") under which each of Sumitomo and Centerra will have a participation right to acquire additional shares of the Company. The Company will provide a further update if these participation rights are exercised.
Qualified Person
Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824, APEGNB #8348), Vice President of Operations at Kenorland, 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
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 & 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289996