Kenorland Minerals and Auranova Resources Announce Completion of Spring Drill Program at the South Uchi Project, Ontario
Kenorland Minerals and Auranova Resources
Announce Completion of Spring Drill Program
at the South Uchi Project, Ontario
Vancouver, British Columbia--(Newsfile Corp. - April 28, 2026) -
Kenorland Minerals Ltd
.
(TSXV:
KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("
Kenorland
" or the "
Company
") and Auranova Resources Inc.
("
Auranova
") are pleased to announce the completion of the 2026 spring drill program at the South Uchi
Project (the "
Project
"), located in the Red Lake District of Ontario.
2026 Spring Drill Program
The Phase 3 program comprised six diamond drill holes totaling 3,187 metres, following the successful
identification of a new gold-bearing structural corridor, discovered during the Phase 2 fall 2025 drill
program (see press release dated January 28, 2026). The drill holes were designed as large step-outs
towards the west and east at roughly 500 metre spacing, testing strike extensions of the mineralisation
concealed beneath deep glacial till and glaciolacustrine cover. Assay results are expected in Q2 2026.
Figure 1. Plan map showing geology and drill hole locations in the Papaonga target area
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Papaonga Target
Follow-up drilling at the South Uchi Project has successfully intersected alteration and mineralisation
along strike of previously reported drill holes 25PADD031 and 25PADD034 which intersected a ~200
m-wide mineralised corridor that returned multiple ~10 m-scale intervals of anomalous gold (see press
release dated January 28
th
, 2026). Recently completed drillholes from Phase 3 encountered broad
zones of pervasive, moderate to strong silica and sericite alteration, with locally developed albite
alteration, indicative of continuity of the hydrothermal alteration system. Associated sulphide content was
observed, occurring as both disseminated and stringer-style pyrite. This mineralisation was hosted
within quartz- and feldspar-phyric intermediate to felsic intrusive units, as well as intermediate to felsic
volcaniclastic rocks and lesser mafic volcanic rocks, notably within 26PADD046 between approximately
123-165m and 214-387m down hole. The volcanic-volcaniclastic rocks have undergone moderate to
strong deformation hosting multi-stage, quartz-carbonate-sulphide veining, while the intrusive rocks have
developed weak-moderate strain with more pervasive alteration and disseminated sulphide, showing
rheological contrast between rock units within the regional belt-parallel structure. Although favorable
alteration and mineralisation is present within the recently completed holes, it does not necessarily
indicate economically significant grades.
Next Steps
Following the completion of the spring drill program at the Project, Kenorland will maintain the camp and
infrastructure at Papaonga in preparation for a potential subsequent drill program, which is tentatively
planned for summer 2026.
Figure 2. Regional geology with significant gold deposits and South Uchi Project location
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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).
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, P.Geo., an independent "Qualified Person" under National Instrument 43-101, has
also reviewed and approved the scientific and technical information in this press release. Mr. Yeomans
is a gold exploration professional with over 40 years of experience in all stages of gold exploration
throughout the Americas, including the Superior Province throughout Quebec and Ontario. He gained
extensive exploration management experience across the entire Guiana Shield with BHP and has
generated projects which resulted with significant NI 43-101 gold resources. He has worked as a
consultant to IAMGOLD and Dundee Precious Metals Inc., identifying acquisition opportunities across
Canada, the USA and South America. He is currently the President of Yeomans Geological Inc. as well
as 1127637 B.C. Ltd. and has many years of experience as a board member for several junior mining
companies.
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.
Further information can be found on the Company's website
www.kenorlandminerals.com
.
About Auranova Resources
Auranova Resources is a publicly listed company 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.
Further information can be found on the Auranova's website
www.auranovaresources.com
.
On behalf of the Board of Directors of Kenorland Minerals Ltd.,
Zach Flood
President, CEO & Director
For further information, please contact:
Alex Muir, CFA
Corporate Development and Investor Relations Manager
Tel +1 604 568 6005
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.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/294475