Kenorland Minerals Ltd. (TSX-V: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) announces that, further to the investor rights agreement dated November 5, 2021 between the Company and Sumitomo Metal Mining Canada Ltd. and the investor rights agreement dated May 28, 2024 between the Company and Centerra Gold Inc., each of Sumitomo and Centerra have issued to the Company notice of their respective intentions to exercise their ‘top-up right’ as it relates to certain share issuances completed by the Company and to retain their interests in the Company.

An aggregate of 51,805 common shares of the Company will be issued at a price of $2.028 per share for aggregate consideration of $105,060.54 in accordance with the Sumitomo IRA and Centerra IRA, subject to the approval of the TSX Venture Exchange, of which 26,162 common shares will be issued to Sumitomo in order to retain its 10.1% interest in the Company and 25,643 common shares will be issued to Centerra in order to retain its 9.9% interest in the Company. A copy of each the Sumitomo IRA and the Centerra IRA, as well as a three-way acknowledgement agreement between the Company, Sumitomo and Centerra governing procedural matters relative to the exercise of equity participation rights under the Sumitomo IRA and Centerra IRA is available on the Company’s SEDAR+ profile.

About Kenorland Minerals

Kenorland Minerals Ltd. (TSX-V: 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. Kenorland is based in Vancouver, British Columbia, Canada.

Further information can be found on the Company’s website www.kenorlandminerals.com.

On behalf of the Board of Directors,

Zach Flood
President, CEO & Director

For further information, please contact:

Alex Muir, CFA
Corporate Development and Investor Relations Manager
Tel +1 604 568 6005
info@kenorlandminerals.com