Kenorland Minerals Ltd. press release

Kenorland Reports High-Grade Intercepts from Recent Drilling at the Frotet Project, Quebec

2026-09-29

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Vancouver, British Columbia--(Newsfile Corp. - September 29, 2026) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce complete assay results from the 2025 fall and 2026 winter drill programs at the Frotet Project (the "Project"), located in northern Quebec. Assays from 20 exploration drill holes completed, including 14,980 metres of drilling, are reported herein. These drill holes represent the first drilling completed since the cut-off date for the recently announced maiden Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 million ounces (Moz) of gold for the Regnault deposit (see press release dated December 16, 2025). Kenorland holds a 4% NSR royalty (the "Frotet Royalty") across the entirety of the Project, which is 100% owned and operated by Sumitomo Metal Mining Canada Ltd. ("Sumitomo" or "SMMCL").

Drill highlights include the following:

25RDD269: 2.35m at 71.89 g/t Au incl. 0.65m at 252.00 g/t Au at R11 (step-out, outside MRE) 26RDD273: 73.42m at 2.24 g/t Au incl. 3.42m at 8.73 g/t Au at R11 (step-out, outside MRE) 26RDD287: 14.25m at 9.72 g/t Au incl. 2.00m at 55.24 g/t Au at R6 (step-out, outside MRE) 25RDD270A: 15.40m at 8.19 g/t Au incl. 4.40m at 26.43 g/t Au at R6 (step-out, outside MRE) 26RDD275: 0.65m at 175.00 g/t Au at R4 (within 100m crown pillar) 26RDD284: 7.45m at 14.79 g/t Au incl. 2.30m at 45.17 g/t Au at R6 (infill within MRE) 26RDD287: 4.85m at 17.34 g/t Au incl. 1.92m at 31.04 g/t Au at R6 (step-out, outside MRE) 26RDD273: 1.62m at 49.43 g/t Au incl. 0.57m at 135.00 g/t Au at R10 (step-out, outside MRE) 26RDD278: 3.90m at 18.26 g/t Au incl. 0.90m at 74.40 g/t Au at R9 (step-out, outside MRE)

[](https://images.newsfilecorp.com/files/6489/316438_7a337aef947a48ff_001full.jpg)

Figure 1. Plan map of Regnault drilling including highlights from this press release

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6489/316438_7a337aef947a48ff_001full.jpg

Discussion of Results

The 2025 fall and 2026 winter drill programs focused on stepping out along known mineralised structures as well as increasing confidence in vein system geometry and grade continuity through targeted infill drilling. Drill holes were optimised to maintain 50-100m spacing, aimed to follow parameters used for inferred resource classification in the recently completed mineral resource estimate (MRE) (see press release dated December 16, 2025).

Step-out drilling continued to return significant high-grade mineralisation. Six drill intercepts returned results of greater than 100 grade x width (g/t Au m), of which four intercepts were step-out drill holes outside of the current MRE, one intercept was located within the 100 m crown pillar, and one intercept targeted infill along the R6 mineralised trend. In addition, six intercepts returned between 50 - 100 grade x width (g/t Au m), with four step-out intercepts located outside of the current MRE, one intercept as infill along the R5 veins, and one intercept as infill within the R4 mineralised structures.

Within the southern deeper portions of the Regnault deposit, step-out highlights include 25RDD269 intersecting 2.35m at 71.89 g/t Au including 0.65m at 252.00 g/t Au, a 105 m step-out towards the east along the R11 vein sets. Also along R11 trend, drill hole 26RDD273 returned 73.42m at 2.24 g/t Au including higher grade intervals of 3.42m at 8.73 g/t Au, 3.48m at 4.14 g/t Au and 2.84m at 5.75 g/t Au, a 60 m step-out to the east from hole 23RDD172 (41.85m at 2.56 g/t Au including 4.45m at 11.96 g/t Au*). Drill hole 26RDD273 also returned high-grade mineralisation along R10 with 1.62m at 49.43 g/t Au including 0.57m at 135.00 g/t Au, a 85 m step-out to the east. These results continue to demonstrate the significance of the R10 and R11 trends, which did not meet the spacing criteria for Inferred classification and were therefore excluded from the MRE (refer to Figure 2).

[](https://images.newsfilecorp.com/files/6489/316438_7a337aef947a48ff_002full.jpg)

Figure 2. Drill hole assays, MRE constrained model (grey), and modelled high-grade shells (red) highlighting significant drill intercepts outside of current MRE

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6489/316438_7a337aef947a48ff_002full.jpg

Significant results from the drill programs also include multiple step-outs along the R6 trend including 26RDD287 that returned 14.25m at 9.72 g/t Au including 2.00m at 55.24 g/t Au, and 4.85m at 17.34 g/t Au including 1.92m at 31.04 g/t Au. These high-grade step-outs are located 115m to the west of 25RDD261 (12.15m at 26.33 g/t Au including 1.80m at 99.64 g/t Au and including 1.20m at 93.48 g/t Au), and 100m to the north and at depth from 23RDD176 (10.70m at 5.67 g/t Au including 2.00m at 14.99 g/t Au*). Drill Hole 25RDD270A returned 15.40m at 8.19 g/t Au including 4.40m at 26.43 g/t Au, a 65m step-out to the east along R6 from 22RDD144 (10.08m at 4.43 g/t Au including 0.59m at 27.10 g/t Au). An infill intercept from 26RDD284 returned 7.45m at 14.79 g/t Au including 2.30m at 45.17 g/t Au, showed continuity of high-grade mineralisation located 20m to the north of 22RDD133 (6.65m at 19.50 g/t Au including 1.06m at 98.34 g/t Au*). Step-out and infill drilling along the R6 trend has continued to confirm the scale, continuity, and high-grade nature of mineralisation.

Other highlights from the recent drilling include the R4 trend where 25RDD271 returned 8.10m at 7.89 g/t Au including 1.95m at 12.56 g/t Au and including 1.95m at 15.76 g/t Au(infill within MRE), and 0.90m at 67.90 g/t Au(70m step-out to the west). Drill hole 25RDD275 also targeting R4, returned 0.65m at 175.00 g/t Au currently within the 100m crown pillar used for the MRE.

(*See press release August 8, 2023) (See press release August 25, 2025) (*See press release February 20, 2024) (See press release November 14, 2022) (*See press release July 11, 2022)

Table 1. Table of assay results from 2025 fall and 2026 winter drill programs

| HOLE ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Residual Au (g/t) | | | 25RDD266 | | 285.10 | 287.40 | 2.30 | 2.55 | 0.91 | 0.35 | | | Incl. | 285.10 | 285.50 | 0.40 | 13.00 | 3.62 | | | | And | 342.85 | 348.00 | 5.15 | 1.87 | 0.76 | 0.59 | | | Incl. | 342.85 | 343.25 | 0.40 | 17.05 | 2.81 | | | | And | 353.50 | 356.00 | 2.50 | 2.62 | 2.68 | 1.02 | | | Incl. | 353.50 | 354.10 | 0.60 | 7.71 | 8.31 | | | | And | 393.60 | 398.45 | 4.85 | 5.79 | 3.03 | 1.68 | | | Incl. | 397.10 | 398.45 | 1.35 | 16.43 | 8.43 | | | | And | 418.40 | 438.00 | 19.60 | 0.50 | 0.66 | | | | And | 461.40 | 471.00 | 9.60 | 0.76 | 1.21 | | | | And | 495.25 | 497.00 | 1.75 | 2.95 | 4.63 | | | | And | 505.60 | 507.15 | 1.55 | 3.45 | 3.25 | | | | And | 566.50 | 576.80 | 10.30 | 1.38 | 2.30 | 0.77 | | | Incl. | 570.00 | 571.45 | 1.45 | 5.15 | 7.47 | | | | And | 654.90 | 660.65 | 5.75 | 1.42 | 1.70 | 0.95 | | | Incl. | 657.00 | 657.40 | 0.40 | 7.66 | 11.20 | | | | And | 697.50 | 704.00 | 6.50 | 1.24 | 1.32 | | | | And | 723.30 | 724.20 | 0.90 | 6.75 | 6.53 | | | | And | 731.10 | 732.80 | 1.70 | 19.00 | 15.90 | | | | And | 744.60 | 745.50 | 0.90 | 11.41 | 3.28 | | | | And | 748.45 | 755.10 | 6.65 | 0.82 | 0.83 | | | | And | 757.40 | 761.85 | 4.45 | 1.38 | 1.08 | | | | And | 765.00 | 769.10 | 4.10 | 2.59 | 1.80 | 0.86 | | | Incl. | 766.30 | 766.95 | 0.65 | 11.80 | 7.01 | | | 25RDD267 | | 368.35 | 371.30 | 2.95 | 1.93 | 0.76 | | | | And | 383.40 | 392.65 | 9.25 | 3.17 | 1.46 | 1.47 | | | Incl. | 384.60 | 385.65 | 1.05 | 16.48 | 3.92 | | | | And | 397.75 | 401.05 | 3.30 | 2.26 | 2.29 | | | | And | 460.60 | 462.00 | 1.40 | 4.86 | 1.05 | | | | And | 514.50 | 524.70 | 10.20 | 0.61 | 0.61 | | | 25RDD268 | | 152.65 | 156.00 | 3.35 | 3.73 | 5.25 | 1.64 | | | Incl. | 153.70 | 154.35 | 0.65 | 12.40 | 18.25 | | | | And | 183.00 | 183.70 | 0.70 | 8.92 | 10.75 | | | | And | 308.40 | 317.00 | 8.60 | 0.88 | 0.72 | | | | And | 344.65 | 345.25 | 0.60 | 22.60 | 16.85 | | | | And | 447.00 | 459.70 | 12.70 | 0.44 | 0.41 | | | | And | 532.10 | 532.95 | 0.85 | 6.63 | 9.69 | | | | And | 560.10 | 567.00 | 6.90 | 0.92 | 0.97 | | | 25RDD269 | | 840.70 | 841.30 | 0.60 | 44.20 | 40.00 | | | | And | 879.00 | 893.40 | 14.40 | 1.29 | 1.57 | 1.12 | | | Incl. | 884.90 | 886.25 | 1.35 | 2.97 | 5.51 | | | | And | 1035.15 | 1037.50 | 2.35 | 71.89 | 83.80 | 3.02 | | | Incl. | 1035.60 | 1036.25 | 0.65 | 252.00 | 297.00 | | | | And | 1222.00 | 1225.70 | 3.70 | 1.37 | 0.60 | | | | And | 1254.00 | 1276.00 | 22.00 | 1.67 | 1.96 | 1.49 | | | Incl. | 1255.70 | 1258.60 | 2.90 | 2.91 | 2.80 | | | 25RDD270A | | 73.15 | 73.50 | 0.35 | 67.50 | 8.27 | | | | And | 219.25 | 219.55 | 0.30 | 42.80 | 13.80 | | | | And | 369.95 | 374.00 | 4.05 | 1.95 | 2.71 | 1.27 | | | Incl. | 371.55 | 372.00 | 0.45 | 7.41 | 8.11 | | | | And | 404.65 | 414.00 | 9.35 | 1.71 | 1.16 | 1.21 | | | Incl. | 404.65 | 405.50 | 0.85 | 6.75 | 5.09 | | | | And | 419.50 | 421.55 | 2.05 | 3.60 | 2.45 | 1.01 | | | Incl. | 419.50 | 419.90 | 0.40 | 14.25 | 8.23 | | | | And | 457.60 | 473.00 | 15.40 | 8.19 | 13.70 | 0.90 | | | Incl. | 465.50 | 469.90 | 4.40 | 26.43 | 44.34 | | | | And | 478.70 | 484.90 | 6.20 | 0.83 | 1.04 | | | 25RDD271 | | 99.60 | 101.70 | 2.10 | 2.86 | 1.81 | 1.12 | | | Incl. | 100.70 | 101.20 | 0.50 | 8.43 | 4.81 | | | | And | 363.90 | 372.00 | 8.10 | 7.89 | 9.29 | 2.07 | | | Incl. | 365.90 | 367.85 | 1.95 | 12.56 | 13.77 | | | | And Incl. | 370.05 | 372.00 | 1.95 | 15.76 | 20.65 | | | | And | 427.95 | 428.85 | 0.90 | 67.90 | 69.98 | | | | And | 500.45 | 501.80 | 1.35 | 7.53 | 1.45 | 2.18 | | | Incl. | 501.10 | 501.80 | 0.70 | 12.50 | 2.05 | | | 26RDD272 | | 155.50 | 176.00 | 20.50 | 0.41 | 0.36 | | | | And | 262.65 | 273.85 | 11.20 | 0.80 | 0.80 | | | | And | 398.20 | 402.55 | 4.35 | 2.39 | 1.85 | 0.72 | | | Incl. | 399.80 | 400.85 | 1.05 | 7.62 | 5.43 | | | | And | 425.25 | 426.75 | 1.50 | 7.49 | 0.69 | | | | And | 511.00 | 513.00 | 2.00 | 7.01 | 5.72 | 2.24 | | | Incl. | 511.50 | 511.80 | 0.30 | 34.00 | 28.30 | | | | And | 516.60 | 524.50 | 7.90 | 0.63 | 1.32 | | | | And | 538.30 | 541.80 | 3.50 | 3.59 | 6.09 | 2.12 | | | Incl. | 539.45 | 540.00 | 0.55 | 11.45 | 21.40 | | | | And | 564.00 | 571.20 | 7.20 | 1.52 | 1.97 | 1.14 | | | Incl. | 567.30 | 567.65 | 0.35 | 8.91 | 7.38 | | | | And | 665.65 | 668.10 | 2.45 | 3.73 | 4.38 | 2.33 | | | Incl. | 666.10 | 666.80 | 0.70 | 7.22 | 14.50 | | | 26RDD273 | | 758.82 | 762.47 | 3.65 | 5.53 | 6.83 | 4.26 | | | Incl. | 761.60 | 762.00 | 0.40 | 15.80 | 21.10 | | | | And | 805.54 | 807.16 | 1.62 | 49.43 | 61.81 | 2.98 | | | Incl. | 806.59 | 807.16 | 0.57 | 135.00 | 169.00 | | | | And | 1071.00 | 1080.00 | 9.00 | 1.28 | 0.95 | | | | And | 1095.20 | 1168.62 | 73.42 | 2.24 | 2.79 | 1.63 | | | Incl. | 1102.63 | 1106.05 | 3.42 | 8.73 | 8.79 | | | | And Incl. | 1117.62 | 1121.10 | 3.48 | 4.14 | 4.57 | | | | And Incl. | 1153.66 | 1156.50 | 2.84 | 5.75 | 9.08 | | | | And | 1194.60 | 1202.90 | 8.30 | 1.03 | 1.26 | | | 26RDD275 | | 68.45 | 69.10 | 0.65 | 175.00 | 243.00 | | | | And | 132.00 | 132.90 | 0.90 | 37.44 | 34.07 | 1.11 | | | Incl. | 132.30 | 132.90 | 0.60 | 55.60 | 50.50 | | | 26RDD276 | | 10.10 | 12.85 | 2.75 | 10.10 | 12.43 | 4.62 | | | Incl. | 11.45 | 12.10 | 0.65 | 27.80 | 38.51 | | | | And | 279.95 | 285.00 | 5.05 | 3.73 | 2.69 | 1.60 | | | Incl. | 279.95 | 282.05 | 2.10 | 6.71 | 4.11 | | | 26RDD277 | | 10.50 | 13.00 | 2.50 | 10.12 | 13.93 | 2.75 | | | Incl. | 11.00 | 11.75 | 0.75 | 27.33 | 39.50 | | | | And | 102.00 | 102.45 | 0.45 | 26.10 | 14.35 | | | | And | 303.75 | 306.70 | 2.95 | 2.62 | 2.27 | 0.79 | | | Incl. | 305.62 | 306.70 | 1.08 | 5.81 | 4.69 | | | | And | 344.55 | 345.15 | 0.60 | 9.24 | 9.42 | | | | And | 369.05 | 370.90 | 1.85 | 4.15 | 5.06 | 1.11 | | | Incl. | 369.96 | 370.50 | 0.54 | 11.50 | 13.95 | | | | And | 402.90 | 410.88 | 7.98 | 0.66 | 0.67 | | | | And | 426.20 | 432.50 | 6.30 | 1.34 | 1.70 | | | | And | 438.20 | 442.35 | 4.15 | 1.69 | 2.19 | 0.68 | | | Incl. | 438.80 | 439.20 | 0.40 | 11.15 | 15.10 | | | 26RDD278 | | 216.00 | 220.00 | 4.00 | 1.58 | 0.84 | 0.87 | | | Incl. | 218.40 | 219.00 | 0.60 | 5.58 | 2.64 | | | | And | 276.00 | 282.50 | 6.50 | 1.57 | 1.60 | 1.07 | | | Incl. | 278.00 | 278.75 | 0.75 | 5.37 | 4.16 | | | | And | 498.65 | 501.20 | 2.55 | 3.02 | 2.72 | | | | And | 575.50 | 579.40 | 3.90 | 18.26 | 23.33 | 1.42 | | | Incl. | 577.55 | 578.45 | 0.90 | 74.40 | 96.00 | | | | And | 624.00 | 628.85 | 4.85 | 2.28 | 2.18 | | | | And | 871.88 | 872.82 | 0.94 | 6.64 | 5.31 | | | | And | 1035.00 | 1046.72 | 11.72 | 0.56 | 0.78 | | | | And | 1100.09 | 1122.00 | 21.91 | 0.76 | 1.31 | | | 26RDD279 | | 64.85 | 65.30 | 0.45 | 19.15 | 4.00 | | | | And | 375.34 | 380.30 | 4.96 | 3.96 | 6.66 | 2.59 | | | Incl. | 378.40 | 380.30 | 1.90 | 6.17 | 13.21 | | | | And | 504.75 | 510.70 | 5.95 | 1.21 | 1.07 | | | | And | 539.76 | 540.47 | 0.71 | 8.41 | 7.60 | | | | And | 572.45 | 576.23 | 3.78 | 2.90 | 3.15 | 1.12 | | | Incl. | 572.45 | 573.50 | 1.05 | 7.53 | 7.01 | | | | And | 615.55 | 623.63 | 8.08 | 1.37 | 1.38 | 0.70 | | | Incl. | 622.63 | 623.63 | 1.00 | 6.15 | 5.52 | | | | And | 816.60 | 833.50 | 16.90 | 0.79 | 0.77 | | | 26RDD281 | | 248.25 | 264.70 | 16.45 | 0.70 | 0.77 | | | | And | 501.75 | 503.55 | 1.80 | 7.55 | 10.10 | 1.34 | | | Incl. | 502.25 | 502.70 | 0.45 | 26.20 | 36.20 | | | | And | 616.45 | 620.20 | 3.75 | 6.29 | 5.85 | 2.34 | | | Incl. | 619.80 | 620.20 | 0.40 | 39.40 | 28.60 | | | | And | 639.45 | 640.50 | 1.05 | 5.00 | 9.90 | 1.11 | | | Incl. | 639.45 | 640.00 | 0.55 | 8.54 | 17.20 | | | | And | 645.25 | 649.15 | 3.90 | 3.01 | 2.99 | 1.21 | | | Incl. | 648.20 | 648.75 | 0.55 | 14.00 | 15.15 | | | | And | 652.95 | 664.65 | 11.70 | 2.33 | 3.41 | 1.25 | | | Incl. | 657.70 | 658.65 | 0.95 | 14.65 | 23.50 | | | 26RDD283 | | 315.50 | 317.10 | 1.60 | 5.06 | 8.30 | | | | And | 333.30 | 355.02 | 21.72 | 0.65 | 0.57 | | | | And | 474.60 | 483.65 | 9.05 | 0.59 | 0.74 | | | | And | 1152.66 | 1163.66 | 11.00 | 1.34 | 1.72 | 0.92 | | | Incl. | 1161.25 | 1163.66 | 2.41 | 2.82 | 3.46 | | | | And | 1314.78 | 1320.19 | 5.41 | 1.29 | 1.37 | | | 26RDD284 | | 295.25 | 296.15 | 0.90 | 32.86 | 53.15 | 1.71 | | | Incl. | 295.25 | 295.65 | 0.40 | 71.80 | 117.00 | | | | And | 448.40 | 449.10 | 0.70 | 7.22 | 4.45 | | | | And | 456.30 | 464.20 | 7.90 | 7.08 | 9.50 | 1.07 | | | Incl. | 456.30 | 457.70 | 1.40 | 34.98 | 48.40 | | | | And | 518.30 | 525.75 | 7.45 | 14.79 | 16.46 | 1.23 | | | Incl. | 521.00 | 523.30 | 2.30 | 45.17 | 50.75 | | | | And | 801.00 | 808.90 | 7.90 | 1.09 | 1.57 | | | 26RDD285 | | 368.65 | 377.65 | 9.00 | 1.41 | 1.59 | 1.05 | | | Incl. | 372.60 | 373.05 | 0.45 | 8.29 | 10.85 | | | | And | 678.60 | 682.14 | 3.54 | 2.34 | 3.63 | 0.84 | | | Incl. | 681.64 | 682.14 | 0.50 | 11.50 | 17.70 | | | | And | 700.05 | 712.50 | 12.45 | 0.76 | 1.17 | | | | And | 761.45 | 765.40 | 3.95 | 2.28 | 1.99 | 1.70 | | | Incl. | 761.45 | 762.00 | 0.55 | 5.89 | 2.11 | | | | And | 1040.15 | 1057.65 | 17.50 | 0.80 | 1.05 | | | | And | 1173.45 | 1183.95 | 10.50 | 1.28 | 1.67 | 1.04 | | | Incl. | 1180.90 | 1181.75 | 0.85 | 3.98 | 4.37 | | | | And | 1280.55 | 1284.10 | 3.55 | 1.89 | 2.63 | | | 26RDD287 | | 38.65 | 44.15 | 5.50 | 2.37 | 3.03 | 1.29 | | | Incl. | 38.65 | 39.40 | 0.75 | 9.21 | 16.65 | | | | And | 58.50 | 58.95 | 0.45 | 14.00 | 12.80 | | | | And | 318.50 | 320.00 | 1.50 | 4.54 | 2.64 | | | | And | 337.50 | 348.70 | 11.20 | 1.80 | 1.14 | 1.40 | | | Incl. | 340.70 | 342.30 | 1.60 | 4.20 | 2.39 | | | | And | 394.45 | 398.25 | 3.80 | 1.53 | 1.74 | | | | And | 491.60 | 496.45 | 4.85 | 17.34 | 21.12 | 8.36 | | | Incl. | 494.53 | 496.45 | 1.92 | 31.04 | 36.20 | | | | And | 509.00 | 523.25 | 14.25 | 9.72 | 14.96 | 2.29 | | | Incl. | 515.50 | 517.50 | 2.00 | 55.24 | 84.07 | | | 26RDD288 | | 232.45 | 236.70 | 4.25 | 1.18 | 1.50 | 0.69 | | | Incl. | 233.15 | 233.70 | 0.55 | 4.47 | 4.82 | | | | And | 256.45 | 268.98 | 12.53 | 1.38 | 1.36 | 1.00 | | | Incl. | 268.59 | 268.98 | 0.39 | 13.25 | 12.30 | | | 26RDD289 | | 129.45 | 131.02 | 1.57 | 11.35 | 8.29 | 5.90 | | | Incl. | 130.02 | 130.35 | 0.33 | 31.80 | 25.40 | |

† Assay intervals reported are core lengths, true widths have not been determined ‡ Residual Au (g/t) represents the average grade of the drill hole interval excluding the highlighted internal interval

Table 2. Drill collar table of reported drill holes from the 2025 fall and 2026 winter drill programs

| Hole ID | Easting (NAD83) | Northing (NAD83) | Elevation (m) | Depth (m) | Dip | Azimuth | | 25RDD266 | 519903 | 5621193 | 377.8 | 771.00 | -68 | 158 | | 25RDD267 | 520051 | 5620887 | 379.9 | 570.00 | -61 | 324 | | 25RDD268 | 519907 | 5620941 | 376.1 | 582.00 | -78 | 323 | | 25RDD269 | 519717 | 5620658 | 377.5 | 1283.30 | -52 | 165 | | 25RDD270 | 519950 | 5621096 | 379.7 | 48.00 | -55 | 161 | | 25RDD270A | 519951 | 5621096 | 379.5 | 702.00 | -56 | 161 | | 25RDD271 | 520051 | 5620888 | 379.8 | 540.00 | -50 | 332 | | 26RDD272 | 519890 | 5621195 | 377.9 | 801.00 | -71 | 170 | | 26RDD273 | 519698 | 5620501 | 376.5 | 1260.00 | -64 | 166 | | 26RDD275 | 519888 | 5621191 | 377.4 | 180.00 | -46 | 350 | | 26RDD276 | 519950 | 5620986 | 378.3 | 330.00 | -54 | 331 | | 26RDD277 | 519950 | 5620986 | 378.0 | 469.00 | -61 | 327 | | 26RDD278 | 519281 | 5620390 | 374.5 | 1206.65 | -56 | 151 | | 26RDD279 | 519377 | 5620629 | 373.9 | 957.00 | -52 | 147 | | 26RDD281 | 519496 | 5620434 | 377.3 | 711.00 | -57 | 157 | | 26RDD283 | 519174 | 5620456 | 374.4 | 1335.00 | -61 | 160 | | 26RDD284 | 519531 | 5621046 | 374.1 | 876.00 | -56 | 157 | | 26RDD285 | 519445 | 5620649 | 375.0 | 1335.00 | -59 | 154 | | 26RDD287 | 519325 | 5620935 | 374.4 | 543.00 | -70 | 155 | | 26RDD288 | 519145 | 5620381 | 374.8 | 321.00 | -48 | 170 | | 26RDD289 | 519746 | 5620982 | 374.7 | 159.00 | -49 | 120 |

About the 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 Mining 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.

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 hosts the Regnault gold deposit, a greenfields discovery made by Kenorland and Sumitomo in 2020 following two years of systematic exploration. A maiden inferred mineral resource of 14.5 Mt at 5.47 g/t Au for 2.55 million ounces (Moz) of gold for the Regnault gold deposit was announced December 16, 2025. The 2025 mineral resource estimate incorporated 289 drill holes totalling 127,217 m of drilling. To date, 314 drill holes for 143,823 m of drilling has been completed in the deposit area.

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.

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Figure 3. Frotet Project, Quebec: 4% NSR Royalty

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6489/316438_7a337aef947a48ff_003full.jpg

_*Technical Report and Mineral Resource Estimate on the Troilus Gold-Copper Project, Mineral Resources Effective Date: 02 October 2023_ Mineral Resource Estimate on Moblan Lithium Project, Mineral Resources Effective Date: 21 March 2023 _*The Frotet Royalty is subject to the following buy down rights in favour of Sumitomo:_ A 0.25% royalty interest may be purchased for a C$3,000,000 cash payment to Kenorland within five (5) years of the grant of the Frotet Royalty A 0.50% royalty interest may be purchased for a C$10,000,000 cash payment to Kenorland within ten (10) years of the grant of the Frotet Royalty In the event Sumitomo exercises the foregoing buy down rights, the Frotet Royalty would be reduced to an uncapped 3.25% net smelter return royalty on all minerals extracted from the Project