Kenorland Minerals Ltd. provided an update on its 2024 exploration activities for its portfolio of projects located in Quebec, Ontario, Manitoba, Saskatchewan, British Columbia, and Alaska and partnerships with Sumitomo Metal Mining Canada Ltd. ("Sumitomo"), Newmont Corporation ("Newmont") and Centerra Gold Inc. ("Centerra"). The Company's current working capital position is approximately $23.5 million. Kenorland remains operator of the Frotet Project for a minimum of one year from the closing of the transaction.

The Company reported additional high-grade gold results from its fall 2023 program, which included intercepts of 19.25m at 19.95 g/t Au within the R6 structure and 1.00m at 174.54 g/t Au including 0.30m at 579.30 g/t Au along the R1 structure. On March 23, 2024, the Company concluded the winter 2024 drill program consisting of 18,448 meters of diamond drilling at the Regnault gold deposit. The program focused on infill and step-out drilling, which increased the confidence of the vein system geometries and grade continuity along the R1, R2, R3, R5, R6, R7, and R8 structures.

Since the Regnault gold discovery in 2020, a total of 100,721 meters of drilling has been completed including 220 drillholes. Drill results from the winter 2024 program are expected to be reported throughout the second and third quarters of 2024. Geologic modelling of the Regnault gold deposit is ongoing, along with planning for the summer 2024 exploration campaign.

The Company will continue to provide exploration updates, including drill results, as the project advances. Chebistuan Project, Quebec: In 2023, the Company made a new gold discovery at the Deux Orignaux target area during the 2,170m, 7 drillhole maiden diamond drill program. Drilling intercepted 157.20m at 0.41g/t Au including 20.61m at 0.97 g/t Au from hole 23DODD005.

A follow-up drill program, initially planned for the first quarter of this year, has been delayed, and is now anticipated in the first half of 2025, subject to final approval from Newmont. O'Sullivan Project, Quebec: The Company completed a maiden drill program of 5 drillholes for 3,801 meters of drilling at the Pusticamica North target area.icobi Project, Quebec: The winter phase of sonic overburden drilling ("drill-for-till"), including 66 sonic drillholes was completed early February 2024. This program was a continuation to the 55 sonic drillholes completed in 2023, for a total of 121 infill sonic holes completed along the Roch-Can trend, an alteration corridor 17 kilometers in strike length along the major volcanic-clastic sedimentary basin contact within the Chicobi Deformation Zone.

Hunter Project, Quebec: The detailed winter sonic overburden drill-for-till program was completed in early March 2024 and was comprised of 160 drillholes covering priority target areas identified from the initial regional program completed in 2022. The second phase of exploration will include detailed, infill till sampling based on phase one results, with more detailed mapping and prospecting with the goal of defining possible bedrock sources to the geochemical anomalies and future drill targets. South Uchi Project, Ontario: Kenorland plans to follow-up on the recently identified, large-scale gold-in-till anomaly at the Papaonga target area identified during the 2023 exploration campaign.

The objective of the summer field program is to define drill targets for testing in 2025. In 2024, the Company is planning to extend the previously completed detailed extremely low frequency electromagnetics (ELF-EM) survey. over the South Taurus target area in order to further refine drill targets.

South Thompson Project, Manitoba: The Company's district scale South Thompson Project encompasses approximately 307,000 hectares of mineral exploration licences covering the southwest extension of the Thompson Nickel Belt below the Phanerozozozoic sedimentary cover rocks. The Company is currently flying a regional scale, ~11,900 line-km VTEM survey (200m spaced lines) to acquire detailed, property wide electromagnetic data to acquire detailed, property wide wireless data to prioritize and advance targets for follow-up ground surveys and drill targeting. The Company is currently flying an property wide electromagnetic data to acquire comprehensive targets for follow-km VTEM survey (250 meters of follow-km VTEM) to prioritize and advance targets to prioritize and advance targets for follows-km VTEM data to acquire detailed, approximately 39, property wide electromagnetic data to prioritize and advance target area for follow-km VTEM data to prioritize and advance targets to acquire detailed, prioritize and advance targets for follow.