Kenadyr Provides Operational Update on the Adelita Copper-Gold-Silver Project and Status Update of Reactivation Transaction

Rhea-AI Summary

Kenadyr (OTC: KNDYF) announced operational and transaction updates for the Adelita Copper‑Gold‑Silver Project and a planned reactivation under the name Algo Grande Copper Corp. Phase 1 exploration is set to commence in November 2025, including a first‑pass drill program at the Cerro Grande Skarn, detailed ground magnetic surveys, a 50×50m soil grid and mapping at Mezquital and Las Trancas.

The project is fully permitted: social license obtained May 28, 2025, SEMARNAT exploration approval on Aug 27, 2025, and a 20‑year underground mining permit issued Jul 17, 2025. Definitive agreements signed with Infinitum (80%) and Minaurum (20%); Infinitum shareholders approved the sale and closing awaits TSXV final approval and the final tranche of reactivation financing. Shareholder call on Nov 7, 2025 11:00 a.m. EST.

Positive

• Definitive agreements executed with Infinitum (80%) and Minaurum (20%)
• Social license received on May 28, 2025
• SEMARNAT exploration approval granted on Aug 27, 2025
• 20‑year underground mining permit issued on Jul 17, 2025
• Phase 1 exploration to start November 2025 with drilling, magnetics and 50×50m soil grid
• Company states it is fully financed to execute Phase 1 and final tranche expected to close in coming weeks

Negative

• Completion and title transfer subject to final TSXV approval; shares remain halted pending approval
• Transaction closing dependent on audit completion of Exploraciones Margarita and TSXV review timing
• Reactivation tied to third financing tranche timing, creating execution risk if closing delayed

• Phase 1 Exploration Program: Drill program, detailed magnetic and geochemical surveys set to commence at Cerro Grande Skarn zone.

• Fully Permitted for Exploration: All social, environmental, and exploration permits received, including a 20-year mining license over the high-grade Skarn discovery zone.

• Transaction Status: Definitive agreements signed with Infinitum Copper (80%) and Minaurum Gold (20%); Infinitum shareholder vote approved the sale of principal asset; the transaction now awaits TSXV final approval.

• Upsized Reactivation Financing: Final tranche expected to close in the coming weeks in conjunction with completion of the TSX Venture Exchange review process.

• Shareholder Call Scheduled: Management to host a shareholder call on Friday, November 7, 2025, at 11:00 a.m. EST.

Vancouver, British Columbia--(Newsfile Corp. - November 5, 2025) - Kenadyr Metals Corp. (TSXV: KEN.H) (OTC: KNDYF) (to be renamed Algo Grande Copper Corp.) ("Kenadyr" or the "Company") is pleased to provide an operational update on the Adelita Copper-Gold-Silver Project ("Adelita"), as well as the status of the ongoing reactivation transaction to consolidate 100% ownership of this district-scale asset (the "Transaction") under Mexican subsidiary Exploraciones Margarita S.A. de C.V. ("Exploraciones Margarita").

CEO, Tim McCutcheon, commented, "Algo Grande is completing the final steps toward reactivating its listing on the TSX Venture Exchange as a new Mexico-focused copper project developer. Both the financing and title transfer of the Adelita Project will close upon final TSXV approval, with all seller approvals now complete and funds in place. The Company is fully financed to execute the first phase of exploration at Adelita, and our immediate priority remains closing the acquisition and advancing the ongoing program on site."

Live Investor Call - November 7th 11:00 a.m. EST

The Company will host a live investor call on Friday, November 7, 2025, at 11:00 a.m. EST to provide a comprehensive update on the commencement of Phase 1 exploration and to outline strategic exploration objectives for 2026.

Save the Date: Friday, November 7, 2025, at 11:00 a.m. EST
(Click here to download calendar invite)

Join the live investor call via Zoom: Access the Call
https://us06web.zoom.us/j/87663314623

Adelita Permit Update

The Company is pleased to report that the Adelita Project is now fully permitted for exploration, with field activities scheduled to commence in November 2025.

Following renewed engagement with the local community in Sonora, Exploraciones Margarita obtained a social license on May 28, 2025, covering the Cerro Grande Skarn Zone in the north-central portion of the concession.

Subsequently, Exploraciones Margarita submitted an Environmental Impact Assessment (MIA) to SEMARNAT in Hermosillo, Sonora, and on August 27, 2025, received approval to proceed with exploration and drilling at Cerro Grande.

Additionally, on July 17, 2025, SEMARNAT issued an underground mining permit covering the high-grade Cerro Grande Skarn Discovery Zone. Although the Company's near-term focus remains exploration, this 20-year mining authorization provides long-term flexibility and underscores the project's development readiness.

Phase 1 Exploration Program (Commencing November 2025)

The fully permitted Phase 1 exploration program is set to commence in November 2025 and will include the following:

• First-pass drill program to focus on the Cerro Grande Skarn, testing mineralization at depth and along strike;
• A detailed ground magnetic survey to delineate magnetite-rich skarn horizons and refine the 3D structural model;
• A 50 × 50 meter soil-geochemistry grid to increase resolution across Cerro Grande and its northwestern extension; and
• Detailed mapping and sampling at the Mezquital and the Las Trancas targets to integrate new geological, geochemical, and geophysical data.

Figure 1. Adelita Project Targets

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11660/273374_39928d0e74935bcf_002full.jpg

Map showing principal target areas within the Adelita Project. All technical information in this figure regarding the Adelita Project is derived from the "Technical Report for the Adelita Project, Sonora, Mexico," dated June 10, 2021, prepared by Mark T. Smethurst, P.Geo. for Infinitum Copper Corp., and filed under Infinitum Copper Corp.'s profile on SEDAR+ at www.sedarplus.ca. The data are historical in nature and have not been independently verified by Kenadyr Metals Corp.

Corporate Update: Transaction and TSXV Approval

The Company continues to advance toward final closing of the acquisition of 100% interest in the high-grade Adelita Copper-Gold-Silver Project, a district-scale opportunity in the prolific Sonora-Arizona Copper Belt.

All definitive agreements have been executed with both Infinitum Copper Corp., which holds an 80% interest in the project through Exploraciones Margarita S.A. de C.V., and Minaurum Gold Inc., which holds the remaining 20% interest. Additionally, Infinitum Copper shareholders have approved the Transaction (see Infinitum Copper news release dated September 27, 2024).

The Company is now in the final stages of the audit of Exploraciones Margarita and is advancing towards completion of the TSX Venture Exchange ("TSXV") review process.

Additionally, the Company anticipates that the third and final tranche of its previously announced reactivation financing will close in the coming weeks, in conjunction with the completion of the TSX Venture Exchange review process.

The Transaction constitutes a Fundamental Acquisition under TSXV Policy 5.3, and the Company's shares will remain halted pending completion of the Exchange's review and final approval.

A timeline for closing and trading resumption will be announced following receipt of TSXV approval of the Transaction.

About Kenadyr Metals Corp.

Kenadyr Metals Corp. (TSXV: KEN.H) (OTC: KNDYF), to be renamed Algo Grande Copper Corp., is a Canadian exploration company focused on the advancement of the Adelita Copper-Gold-Silver Project in Sonora, Mexico.

The 5,985-hectare Adelita Project is anchored by the high-grade Cerro Grande Cu-Au-Ag skarn discovery, which exhibits strong continuity along a defined corridor extending over 6 kilometers. Reprocessing of legacy geophysical data and field mapping indicate the presence of a potential porphyry system at depth, suggesting a classic skarn-porphyry mineralization model similar to major deposits found throughout northwestern Mexico.

ON BEHALF OF KENADYR METALS CORP.,

"Tim McCutcheon"
Chief Executive Officer and Director

For more information, please contact:
E-mail: info@algo-grande.com
Website: www.algo-grande.com
Tel: +1 236 836 4182

Cautionary Statement on Forward-Looking Information

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.

This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation.

Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Corporation to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, but not limited to, statements relating to the completion of the Transaction, the receipt of all necessary corporate and regulatory approvals for the Transaction, the completion of the name change, business development, results of operations, and those listed in filings made by the Corporation with the Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca).

Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Corporation's management to predict all of such factors and to assess in advance the impact of each such factor on the Corporation's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

The Corporation does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273374

FAQ

What does TSXV final approval mean for KNDYF and when will trading resume?

Final TSXV approval is required to close the acquisition and reactivate the listing; a timeline for closing and trading resumption will be announced after TSXV approval.

When does Kenadyr (KNDYF) start Phase 1 exploration at Adelita?

Phase 1 is scheduled to commence in November 2025, including drilling at Cerro Grande and geophysical and soil surveys.

What permits does Adelita hold relevant to development as of November 2025?

Adelita holds a social license dated May 28, 2025, SEMARNAT exploration approval dated Aug 27, 2025, and a 20‑year underground mining permit dated Jul 17, 2025.

Who owns the Adelita project after the transaction announced by Kenadyr (KNDYF)?

Definitive agreements were signed to consolidate 100% ownership under Exploraciones Margarita, with Infinitum holding 80% and Minaurum holding 20%, and Infinitum shareholders have approved the sale.

What will Kenadyr discuss on the shareholder call on November 7, 2025?

Management will provide a comprehensive update on the start of Phase 1 exploration and outline strategic exploration objectives for 2026 on the Nov 7, 2025 11:00 a.m. EST call.

Is Kenadyr financed to carry out the initial exploration at Adelita?

The company states it is fully financed to execute the first phase of exploration and expects the final tranche of reactivation financing to close in the coming weeks.