Kenorland Minerals Provides Update on Upcoming Maiden Mineral Resource Estimate at the Frotet Project, Quebec

Rhea-AI Summary

Kenorland Minerals (OTCQX: KLDCF) said the maiden Mineral Resource Estimate (MRE) for the Regnault gold deposit at the Frotet Project in northern Quebec is in final stages and is expected to be announced in the coming weeks. The MRE will incorporate 127,217 metres across 265 drill holes and is being prepared by SLR Consulting to CIM/NI 43-101 standards. Kenorland holds a 4% NSR royalty across the entire Frotet Project. The Regnault system exceeds two kilometres of strike, remains open along strike and at depth, and has multiple step-out and regional targets identified for future drilling.

Positive

• MRE scope: 127,217 metres across 265 drill holes
• Royalty: 4% NSR across the entire Frotet Project
• Standards: MRE prepared by SLR Consulting to CIM/NI 43-101

Negative

• Maiden MRE has not yet been released; timing is "in the coming weeks"
• No resource tonnage or grade disclosed prior to the MRE announcement

News Market Reaction

+13.43%

1 alert

+13.43% News Effect

On the day this news was published, KLDCF gained 13.43%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Drilling used for MRE: 127,217 metres Drill holes in MRE: 265 drill holes NSR royalty: 4% NSR royalty +2 more

5 metrics

Drilling used for MRE 127,217 metres Metres of drilling incorporated in Regnault maiden MRE

Drill holes in MRE 265 drill holes Number of holes in dataset for Regnault MRE

NSR royalty 4% NSR royalty Kenorland royalty across entire Frotet Project

Strike length over two kilometres Approximate strike length of Regnault gold system

Discovery year 2020 Year high-grade gold mineralisation at Regnault was first discovered

Market Reality Check

Price: $2.27 Vol: Volume 66,433 is 2.67x th...

high vol

$2.27 Last Close

Volume Volume 66,433 is 2.67x the 20-day average of 24,856, signaling elevated interest ahead of the MRE. high

Technical Price at $1.61 is trading above the 200-day MA of $1.29, reflecting a pre-existing uptrend into the MRE update.

Peers on Argus

Peers showed mixed moves, with CVVUF up 4.53%, XTPT up 2.27%, and HUSIF, QUEXF, ...

Peers showed mixed moves, with CVVUF up 4.53%, XTPT up 2.27%, and HUSIF, QUEXF, DMXCF down between 0.96–2.49%, suggesting KLDCF’s strength was stock-specific rather than sector-driven.

Historical Context

5 past events · Latest: Dec 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 09	Exploration update	Positive	-0.7%	Exploration and partner program update with financial position detail.
Dec 02	Geochemical results	Positive	-3.3%	Gold-in-till anomalies and rock sample results at Ontario projects.
Nov 26	MRE progress update	Positive	+13.4%	Announcement that Regnault maiden MRE nearing completion at Frotet.
Nov 11	Drilling commencement	Positive	-1.1%	Start of diamond drilling at O’Sullivan Project under Sumitomo option.
Nov 03	Drill program update	Positive	+1.0%	Completion of fall drilling at South Uchi with assays pending.

Pattern Detected

Recent exploration and project updates have often seen muted or negative next-day moves, with strong upside only on major milestones like the Regnault MRE progress.

Recent Company History

Over the last months, Kenorland has reported multiple exploration and drilling updates across Quebec and Ontario, including South Uchi and O’Sullivan, plus broader portfolio and financial details on Dec 9, 2025. Most updates were technically positive but saw mixed to negative 24h price reactions, while the Nov 26 Regnault MRE progress update coincided with a notable +13.43% move, underscoring the market’s focus on the Frotet royalty and Regnault resource definition.

Market Pulse Summary

The stock surged +13.4% in the session following this news. A strong positive reaction aligns with t...

Analysis

The stock surged +13.4% in the session following this news. A strong positive reaction aligns with the stock’s prior response to Regnault MRE progress, where a similar update saw a +13.43% move. The elevated volume at 2.67x average and price above the 200-day MA suggest the market had already been positioning around Frotet. Investors would need to weigh how much value was already priced into the 4% NSR royalty and whether enthusiasm could fade after the maiden estimate is published.

Key Terms

mineral resource estimate, nsr royalty, shear zones, quartz-carbonate veining, +3 more

7 terms

mineral resource estimate technical

"the maiden Mineral Resource Estimate ("MRE") for the Regnault gold deposit"

A mineral resource estimate is a calculated approximation of how much metal or mineral material likely exists in a particular deposit and where it sits underground, similar to estimating how many cookies are in a jar by peeking at the layers. It matters to investors because it provides a data-based starting point for judging a project's potential value, future production and risks, while not guaranteeing recoverable or profitable amounts.

nsr royalty financial

"Kenorland holds a 4% NSR royalty across the entirety of the Frotet Project."

A net smelter return (NSR) royalty is a payment to a rights holder equal to a fixed percentage of the money a mine actually receives from selling refined metal, after the costs of turning ore into a saleable product are taken out. Think of it like a toll collected on each shipment after it’s been cleaned and sold. For investors, NSR royalties matter because they create a steady revenue stream with lower operational risk for the royalty holder, while reducing the owner-operator’s share of project cash flow and affecting project valuation.

shear zones technical

"comprises multiple subparallel, steeply dipping shear zones hosting quartz-carbonate veining"

Shear zones are regions in the Earth's crust where rocks have been strongly squeezed and slid past each other, producing a band of broken, stretched or recrystallized rock that can act like a plumbing system for mineral-bearing fluids. For investors, shear zones matter because they often control where valuable metals concentrate; thinking of them as a folded fabric that channels water helps explain why ore deposits commonly form along these lines, making them prime targets for exploration and affecting a project’s potential size and cost.

quartz-carbonate veining technical

"steeply dipping shear zones hosting quartz-carbonate veining and disseminated sulfides"

Veins of quartz and carbonate minerals formed when hot, mineral-rich fluids moved through cracks in rock and then cooled and hardened. For investors in mining projects, these veins matter because they often act like plumbing that concentrates valuable metals (gold, silver, copper) into mineable pockets; finding widespread or well-developed quartz-carbonate veining can point to higher potential grades and guide where companies drill or develop a mine.

disseminated sulfides technical

"hosting quartz-carbonate veining and disseminated sulfides within an area"

Disseminated sulfides are tiny grains of metal-bearing sulfide minerals scattered throughout a rock, like chocolate chips mixed evenly through a cookie rather than concentrated in a single vein. For investors, their presence signals a potential bulk-tonnage ore body where metals (for example copper, nickel, zinc or gold) are spread over large volumes; this affects how much metal can be recovered, the complexity and cost of mining and processing, and the expected long-term value and environmental requirements of a project.

cim definition standards technical

"will adhere to CIM Definition Standards as required under NI 43-101."

CIM Definition Standards are a set of rules used to classify and report quantities of minerals in a mine or exploration project, spelling out what counts as a measured, indicated, or inferred resource and what is considered a reserve. For investors, they provide a common yardstick so you can compare the size and reliability of mineral estimates across projects — like using the same recipe to judge how likely a cooking result will turn out as advertised.

ni 43-101 regulatory

"will adhere to CIM Definition Standards as required under NI 43-101."

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - November 26, 2025) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce that the maiden Mineral Resource Estimate ("MRE") for the Regnault gold deposit, located within the Frotet Project (the "Project") in northern Quebec, is in the final stages of completion. The MRE, prepared on behalf of the Company and Sumitomo Metal Mining Canada Ltd. ("Sumitomo"), the 100% owner and operator of the Project, is expected to be announced in the coming weeks. Kenorland holds a 4% NSR royalty across the entirety of the Frotet Project.

The upcoming Mineral Resource Estimate will incorporate 127,217 metres across 265 drill holes, and will represent the first formal quantification of the high-grade gold mineralisation first discovered by Kenorland and Sumitomo in 2020. The MRE is being prepared by SLR Consulting (Canada) Ltd., and will adhere to CIM Definition Standards as required under NI 43-101.

Zach Flood, President and CEO of Kenorland Minerals, stated, "The upcoming maiden Mineral Resource Estimate at Regnault will be a defining milestone for Kenorland, providing the first tangible valuation anchor for our 4% NSR royalty on the Frotet Project. Situated in a premier jurisdiction and underpinned by Sumitomo's operational strength, this maiden resource-together with our large-scale portfolio of grassroots assets-will continue to drive Kenorland's long-term value and optionality."

The Regnault gold system comprises multiple subparallel, steeply dipping shear zones hosting quartz-carbonate veining and disseminated sulfides within an area exceeding two kilometres in strike length. Mineralisation remains open along strike and at depth, with numerous step-out and regional targets identified for future drilling.

About Frotet Project

The Project covers 39,365 hectares of the Frotet-Evans greenstone belt within the Opatica geological sub-province of Quebec. The property is adjacent to the past-producing Troilus Gold Corporation's Au-Cu mine (9.32Moz Au indicated resource) and covers several major deformation zones associated with known orogenic gold prospects, as well as stratigraphy hosting VMS deposits elsewhere in the belt. Kenorland initially staked the Project in 2017 and then entered into a joint venture and earn-in agreement with Sumitomo in 2018.

The Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo in 2020 following two years of systematic exploration. Since the initial discovery, Regnault has seen extensive exploration, totaling 131,713 metres of drilling (271 drill holes) to date.

On February 19, 2024, Kenorland closed a transaction to exchange its 20% participating interest in the Frotet Joint Venture with Sumitomo to a 4% NSR Royalty.

The Project is located 100 kilometres to the north of Chibougamau, Quebec. Favorable infrastructure exists in the project area with an extensive forestry road network as well as the Route-du-Nord crossing the southwestern portion of the property. A power transmission line also crosses through the property which supplied power to the past producing Troilus mine.

Qualified Person

Cédric Mayer, M.Sc., P.Geo. (OGQ #02385), Senior Project Geologist 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 Ltd.

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 operated 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275978

FAQ

When will Kenorland (KLDCF) announce the maiden MRE for Regnault?

The company says the maiden MRE is in final stages and is expected to be announced in the coming weeks.

What data will the Regnault MRE for KLDCF include?

The MRE will incorporate 127,217 metres of drilling across 265 drill holes.

Who prepared the Regnault MRE for Kenorland (KLDCF) and to what standard?

SLR Consulting is preparing the MRE, which will adhere to CIM Definition Standards under NI 43-101.

How does Kenorland (KLDCF) benefit from the Frotet Project MRE?

Kenorland holds a 4% NSR royalty across the Frotet Project, which the maiden MRE is expected to help value.

What is the geological scale of the Regnault gold system mentioned by KLDCF?

Regnault comprises multiple subparallel shear zones with mineralisation over more than two kilometres of strike.

Does the Regnault system have room for further growth after the KLDCF MRE?

Yes; the company states mineralisation remains open along strike and at depth with step-out and regional targets identified.