Kenorland Minerals Ltd. Stock Price, News & Analysis

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) announces that Sumitomo Metal Mining Canada has decided to withdraw from their Joint Venture Exploration Agreement at the Chicobi Project in Quebec. The agreement, which was established on February 15, 2019, will terminate on December 6, 2024. Following this termination, Sumitomo will transfer its participating interest to Kenorland, resulting in Kenorland obtaining 100% ownership of the Project.

Kenorland Minerals announces a winter 2025 drill program at the Deux Orignaux prospect and Newmont 's entry into Phase 2 of their earn-in agreement for the Chebistuan project in Quebec. The planned program includes up to 3,500m of drilling to explore the mineralized syenite area, following up on previous results from drill hole 23DODD005 which yielded 157.20m at 0.41 g/t Au including 20.61m at 0.97 g/t Au. The program will also investigate additional potential syenite plug targets identified through geophysical characteristics. Kenorland remains the project operator, with drilling expected to begin in Q1 2025.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has announced results from its 2024 summer exploration program at the Frotet Project in northern Quebec. The program, consisting of six drill holes totaling 3,266m, revealed significant gold intersections including 26.67 g/t Au over 3.30m and 9.78 g/t Au over 6.35m. The drilling primarily tested step-out targets from the recently updated Regnault gold system model, focusing on the R1, R4, and R6 mineralised structures. The company holds a 4% net smelter return royalty and operates the project. Results suggest potential for additional mineralisation at depth, making it a priority target for follow-up drilling.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has completed the exercise of Sumitomo Metal Mining Canada and Centerra Gold Inc.'s 'top-up right' to maintain their respective 10.1% and 9.9% interests in the company. This follows the investor rights agreements dated November 5, 2021, and May 28, 2024.

The transaction involved issuing 322,640 common shares for a total consideration of $338,772. These shares are subject to a statutory hold period until January 28, 2025. As Sumitomo owns more than 10% of Kenorland's outstanding shares, the transaction is considered a 'related party transaction' under MI 61-101. However, Kenorland has relied on exemptions from formal valuation and minority shareholder approval requirements, as the fair market value does not exceed 25% of the company's market capitalization.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) has announced that Sumitomo Metal Mining Canada and Centerra Gold Inc. have exercised their 'top-up right' to maintain their respective interests in the company. This follows the investor rights agreements dated November 5, 2021 (Sumitomo) and May 28, 2024 (Centerra).

The company will issue a total of 322,640 common shares at $1.05 per share, raising $338,772, subject to TSX Venture Exchange approval. Specifically, 162,934 shares will be issued to Sumitomo to maintain its 10.1% interest, and 159,706 shares to Centerra to retain its 9.9% stake.

Details of the investor rights agreements and a three-way acknowledgement agreement are available on Kenorland's SEDAR profile.

Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) has announced that its wholly owned subsidiary, Kenorland Minerals North America , has granted a 2% net smelter return royalty on its 100% owned South Uchi Project to another wholly owned subsidiary, 1431275 B.C. The South Uchi Project is located in the Red Lake District, northwestern Ontario. This move is part of Kenorland's strategy to create a separate division for its royalty interests, aiming to enhance shareholder value and pursue new strategic opportunities. The company recently reported positive results from its 2024 summer exploration program on the project. Kenorland currently holds a portfolio of royalty interests in North America, including a 4% net smelter return royalty on the Frotet Project in Quebec.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has reported positive results from its 2024 exploration program at the South Uchi Project in Ontario's Red Lake District. The program identified widespread gold mineralisation at the Papaonga target area, covering approximately 40km². Key highlights include:

1. Large gold-in-till and HMC gold grain anomaly
2. Gold mineralisation in intrusive, sedimentary, and volcanic rocks
3. Strong multi-element signature (Au-Ag-Te-W±As-Sb-Mo)
4. Presence of a significant, previously unrecognized gold system

The company conducted heavy mineral concentrate (HMC) till sampling and systematic mapping. Results showed up to 951 total gold grains (91% pristine) and rock samples assaying up to 8.97 g/t Au and 60.4 g/t Ag. Kenorland is now planning a maiden diamond drill program to further explore this promising discovery.

Kenorland Minerals (TSXV: KLD, OTCQX: KLDCF) has entered into a definitive agreement to sell its South Thompson Nickel Project to Evolution Nickel The deal includes:

1) Evolution issuing 26,000,000 common shares to Kenorland (50% equity ownership)
2) Granting Kenorland a 2% net smelter return royalty
3) Kenorland receiving the right to appoint a director to Evolution's board
4) A pre-emptive right for Kenorland to maintain its pro-rata ownership
5) Kenorland continuing as the project operator post-closing

The transaction is expected to close by December 31, 2024, subject to Evolution completing a minimum C$4,000,000 equity financing and TSX Venture Exchange approval.

Kenorland Minerals has initiated engineering and baseline studies at the Frotet Project in Quebec, in partnership with Sumitomo Metal Mining Canada , the project's full owner. BBA Consultants has been engaged to conduct a comprehensive scoping study, which includes preliminary cost estimates and necessary baseline environmental and technical assessments. The study will facilitate year-round exploration activities and support permitting for an underground exploration decline aimed at delineating the Regnault Gold Deposit. Environmental studies will focus on flora, fauna, and water quality, while technical studies will assess ground and water conditions. Completion of these studies is expected by early 2025, with resource estimates anticipated by late 2025.