Kenorland and Auranova Announce Large Intrusion-Related Gold Discovery at South Uchi, Ontario

Vancouver, June 17, 2026 - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") and Auranova Resources Inc. ("Auranova") are pleased to announce complete assay results from the 2026 spring (phase 3) diamond drill program at the South Uchi Project (the "Project"), located in the Red Lake District of Ontario. The program comprised six drill holes totalling 3,187 metres, successfully extending the Papaonga gold target to the east along the mineralised structural corridor recently identified in the Phase 2 diamond drill program (see press release dated January 28, 2026). Phase 3 drilling has identified a large new mineralised target.

Drill Highlights:

• Discovery of a large new intrusion-related gold system, the "North Papa", at Papaonga.

• The North Papa is defined by gold-mineralised quartz feldspar porphyry with intense silica-sericite-albite flooding and up to 15% accessory sulphides dominated by pyrite, hosted by a large regional east-west shear zone.

• Discovery drill hole 26PADD046 was drilled approximately orthogonal to the large east-west structural corridor, in order to characterise gold mineralisation across its entire width. Based on available data, all reported mineralised zones are expected to extend to bedrock surface under an average 10-20 m of till cover.

• 26PADD046 intersected more than 122.80 m of mineralisation grading more than 0.28 g/t gold across 220.15 m of downhole core length (See Figure 1 and Table 1).

• Lower-grade mineralised intervals in 26PADD046 include 0.58 g/t gold over 21.00 m, within a broader interval of 0.34 g/t Au over 65.45 m, 0.31 g/t Au over 35.65 m, and 0.28 g/t Au over 14.00 m.

• First indications of high-grade gold mineralisation were also intersected, with 7.07 g/t gold over 1.00 m in 26PADD046, and 9.09 g/t gold over 1.45 m in 500 m step-out drill hole 26PADD043.

• Recent drilling extended the North Papa mineralisation to 1 km of strike length, while expanding the Papaonga target footprint to approximately 7 km of strike east-west.

• Given the size of the target, which remains open along strike and at depth, follow-up geophysical programs are being planned for future drill targeting.

Zach Flood, President and CEO of Kenorland Minerals, commented, "These results further demonstrate the presence of a newly discovered, extensive gold system in the Papaonga target area. The scale and continuity of mineralisation continue to exceed our expectations, reinforcing our confidence in the significant potential of this project. The next phase of exploration will include detailed geophysical surveys to better define the footprint of the system and guide additional step-out drilling. We look forward to advancing with work with our partners at Auranova."

Figure 1. Plan map of Papaonga with drill hole locations including highlights from this press release

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Discussion of Results

The 2026 spring drill program represents the third phase of drilling at Papaonga, designed to test strike extensions of the northern mineralised structural corridor recently identified in late 2025. The program was designed as broad step-outs, at approximately 500 m spacing towards the east and west from drill holes 25PADD031 and 25PADD034 which intersected a ~200 m-wide mineralised corridor (see press release dated January 28, 2026). Drilling successfully intersected broad zones of hydrothermal alteration and gold mineralisation towards the east and remains open, concealed beneath deep glacial till and glaciolacustrine cover, further demonstrating the scale of the Papaonga system.

Step-out drill hole 26PADD046, located roughly 500 m to the east of previous drilling along the corridor intersected multiple broad zones of gold mineralisation returning 14.00 m at 0.28 g/t Au, 65.45 m at 0.34 g/t Au including 21.00 m at 0.58 g/t Au, and 35.65 m at 0.31 g/t Au. Mineralisation is hosted within both felsic intrusive and mafic volcanic rocks, associated with strong deformation, pervasive silica-sericite±albite alteration and disseminated to stringer style sulphides.

Higher grade, mafic volcanic hosted gold mineralisation was also returned from 26PADD046 with 7.70 m at 1.13 g/t Au including 1.00 m at 7.07 g/t Au, and a further 500 m step-out to the east with 26PADD043 that returned 3.75 m at 3.65 g/t Au including 1.45 m at 9.09 g/t Au. Mineralisation is accompanied by silica-sericite alteration, quartz-carbonate veining, and pyrite-pyrrhotite mineralisation. These results demonstrate continuity of the hydrothermal system beneath glacial cover and support the interpretation that the Papaonga mineralised corridor remains open to the east.

Figure 2. Cross section through drill hole 26PADD046 illustrating broad mineralisation corridor

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Collectively, results from the spring 2026 program expand the known footprint of gold mineralisation at Papaonga and reinforce the interpretation of a large-scale, belt-parallel mineralised corridor with significant exploration upside.

Follow-up Program

Follow-up exploration is proposed for Q3-2026 and will comprise detailed geophysical surveys, including induced polarisation (IP) and high-resolution magnetic surveys, covering the northern corridor identified through Phase 2 and Phase 3 drilling and extending geophysical coverage to the east. The objective of these surveys is to characterise and fingerprint mineralisation intersected in previous drill campaigns, thereby improving drill targeting beneath cover. Additional drill planning will be undertaken following completion of the geophysical surveys, with further details to be provided at a later date.

Table 1: Table of assay results from the 2026 spring drill program

† Assay intervals reported are core lengths, true widths have not been determined

Table 2. Drill hole location and collar table of reported drill from the 2026 spring drill program

About South Uchi Project

The South Uchi Project was first identified and staked by Kenorland based on the under-explored region's prospectivity to host significant gold mineralised systems. The Project covers a portion of Confederation Assemblage volcanic rocks, as well as the boundary between the Uchi geological subprovince to the north and the English River geological subprovince to the south. Multiple major east-west striking deformation zones associated with the subprovince boundary transect the Project, resulting in zones of strong shearing and folding of the supracrustal stratigraphy, which are favourable settings for orogenic gold mineralisation. Prior to Kenorland staking the Project, records indicated little to no systematic exploration had been completed, and the land package remained under-explored. The majority of gold deposits in the Red Lake District (Red Lake, Madsen, Hasaga, and others) are located on the northern margin of the Confederation Assemblage. However, recent discoveries such as the LP Fault Zone on the Dixie Project by Great Bear Resources Ltd. (acquired by Kinross Gold and renamed Great Bear Project) highlight the prospectivity of the entire Confederation Assemblage along the southern margin of the Uchi subprovince.

Kenorland announced on December 2, 2024, that it had entered into a definitive agreement with Auranova, granting Auranova the right to earn up to a 70% interest in the Project. Pursuant to the agreement, Auranova may earn an initial 51% interest in the Project by making cash payments totalling $500,000 to Kenorland, completing a diamond drilling program with at least $8,000,000 in qualifying expenditures or completing 15,000 metres of drilling within two years of receiving a drill permit, issuing Kenorland 19.9% of Auranova's common shares, and maintaining Kenorland's 19.9% share position until Auranova raises a minimum of $10,000,000 through share issuances, after which Kenorland's stake will remain at 10% on a pro-rata basis through to the completion of a Preliminary Economic Assessment (the "PEA").

Kenorland has received the $500,000 in cash payments and currently holds 9,242,267 common shares of Auranova and confirms that Auranova has now earned a 51% ownership interest in the Project (see press release dated July 2, 2025). Further, Auranova may earn an additional 19% interest, for a total of 70%, by incurring an additional $10,000,000 in qualifying expenditures on or before the third anniversary of Auranova's election to proceed with the second option. Kenorland will also retain a 30% carried interest in the Project through to the completion of the PEA, at which point a joint venture will be formed.

Kenorland also holds a 2% net smelter return royalty on the Project (see press release dated September 16, 2024).

Figure 3. Regional simplified geology with significant gold deposits and South Uchi Project location

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¹ 32.9 million tonnes of Measured and Indicated mineral resources at a grade of 2.7 g/t Au (2.8 Moz Au). 22.7 million tonnes of Inferred mineral resources at a grade of 4.5 g/t Au (3.3 Moz Au). Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Company's property. Source: Kinross reports 2023 fourth-quarter and full-year results: (Date February 14, 2024) - Updated resource to the technical report titled Great Bear Project Ontario, Canada prepared by Nicos Pfeiffer, P.Geo., John Sims, CPG, Yves Breau, P.Eng., Rick Greenwood, P.Geo., Agung Prawasono, P.Eng., issued February 13, 2023

Qualified Persons

Janek Wozniewski, B.Sc., P.Geo. (EGBC #172781, APEGS #77522, EGMB #48045, PGO #3824, APEGNB #L7273), 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.

William Yeomans, B.Sc., P.Geo. (EGBC #027187, PGO #2177), an independent "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

QA/QC and Core Sampling Protocols

All drill core samples were collected under the supervision of Kenorland employees. Drill core was transported from the drill platform to the logging facility where it was logged, photographed, and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain-of-custody, and transported from Red Lake to Bureau Veritas Commodities ("BV") laboratory in Timmins, Ontario.

Sample preparation and analytical work for this drill program were carried out by BV. Samples were prepared for analysis according to BV method PRP70-250: individual samples were crushed to 2mm (10 mesh) and a 250g split was pulverized to 75μm (200 mesh) for analysis and then assayed for gold. Gold in samples were analyzed using BV method FA430 where a 30g split is analyzed with fire assay by Pb collection and AAS finish. Over-limits gold samples were re-analyzed using BV method FA530 where a 30g split is analyzed with fire assay by Pb collection and gravimetric finish. Multi-element geochemical analysis (45 elements) was performed on all samples using BV method MA200 where a 0.25g split is by multi-acid digest with ICP-MS/ES finish. All results passed the QA/QC screening at the lab, all company inserted standards and blanks returned results that were within acceptable limits.

Update on Marketing Agreement

Further to the Company's press release dated November 3, 2025, the Company confirms that Atrium Research Corporation was paid an upfront fee of $6,000 in connection with the engagement.

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 4% net smelter return royalty on the Frotet Project in Quebec, which is owned 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, which contains an Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Moz of gold. Kenorland is based in Vancouver, British Columbia, Canada.

About Auranova Resources

Auranova Resources Inc (TSXV: AURA) is an explorer of precious metal projects in the highly prospective Red Lake region of Ontario. Its directors and major shareholders are Thomas Obradovich, Chris Taylor, Timothy Young, William Rand and Blair Zaritsky. The Company is focused on the discovery of new gold systems in the Birch Uchi Belt in partnership with Kenorland Minerals Ltd., as well as expanding its presence in the greenstone belts of Ontario.

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.

This news release may contain information about adjacent properties on which the Company does not have an interest. The Qualified Person has not verified the information, and it is not necessarily indicative of the mineralisation on the Project.

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.

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