Kenadyr Metals Completes TSXV Reactivation, Name Change to Algo Grande Copper and 100% Acquisition of the Adelita Project Completed the acquisition of a 100% interest in the Adelita Copper-Gold-Silver Project in the prolific Sonora–Arizona copper belt.
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Kenadyr Metals Completes TSXV Reactivation, Name Change to Algo
Grande Copper and 100% Acquisition of the Adelita Project
Completed the acquisition of a 100% interest in the Adelita Copper-Gold-Silver Project in the
prolific Sonora–Arizona copper belt.
Effective at market opening on or about December 23, 2025, the common shares in the
capital of Algo Grande Copper Corp. are expected to commence trading under the symbol
“ALGR” on Tier 2 of the TSX Venture Exchange, upon satisfaction of all conditions of the
company’s reactivation.
Strengthened leadership and board, including appointment of Gord Neal, a key executive in
the value creation of MAG Silver has joined the board of directors.
Project anchored by the high-grade Cerro Grande skarn discovery, which remains open along
strike and at depth.
Inaugural drilling program underway, targeting depth extensions of high-grade skarn
mineralization and refining the Cerro Grande porphyry–skarn system.
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Fully permitted for exploration, including a 20-year underground mining permit over the Cerro
Grande Skarn zone.
Modern reprocessing of IP, VTEM and Magnetic data has defined porphyry targets at
Mezquital and below the Cerro Grande Skarn, outlining a possible Porphyry-Skarn system.
VANCOUVER, BC – December 18, 2025 –Algo Grande Copper Corp. (“ Algo Grande ”), formerly
Kenadyr Metals Corp. (TSX-V: ALGR; OTC: KNDYF), announces the successful acquisition (the
“Acquisition”) of 100% ownership of the 5,895-hectare Adelita Copper-Gold-Silver Project (the
“Project”). Algo Grande acquired an 80% stake in the Project from Infinitum Copper Corp., and the
remaining 20% interest from Minaurum Silver Inc. (TSX-V:MGG) (OTCQX:MMRGF). The Project is in
the Sonora–Arizona Copper Belt, anchored by the high-grade Cu-Au-Ag Cerro Grande skarn
discovery, multiple untested skarn targets along a 6 km corridor, and a 4.5 km porphyry anomaly.
Enrico Gay, CEO of Algo Grande Copper Corp., commented: “Completing the acquisition of 100%
of the Adelita Project and securing our reactivation marks an important milestone for Algo Grande.
Over the past months, our team has undertaken a rigorous technical review: reprocessing legacy
geophysics, rebuilding the geological model, and integrating new data into a modern exploration
framework. With this foundation in place, we are now executing a disciplined, data-driven program
designed to delineate the scale of both the high-grade skarn system and the porphyry potential at
depth. Supported by strong in-country operational partners, and a growing team we are entering
this next phase with confidence and clarity of vision.”
Conversion of Subscription Receipts
Algo Grande confirms, further to news releases dated August 18, 2025, September 15, 2025,
September 26, 2025, and December 15, 2025, that the escrow release conditions for the conversion
of 10,198,402 subscription receipts of Algo Grande (the “Subscription Receipts”) offered at a price
of $0.375 per Subscription Receipt, have been fulfilled. Each Subscription Receipt has converted
into one common share of Algo Grande (each a “Share”) in accordance with its terms. The proceeds
of the Subscription Receipt financing (the “ Financing”) were being held in escrow pending
satisfaction of the escrow release conditions. The proceeds have now been released from escrow
and will be used to fund payment obligations and exploration expenditures relating to the Project
and for general working capital purposes.
Acquisition of the Project
Algo Grande completed the Acquisition pursuant to the terms and conditions of (a) a share purchase
agreement dated June 13, 2025 (the “ Infinitum Agreement ”) with Infinitum Copper Corp.
(“Infinitum), pursuant to which Algo Grande acquired 100% of Exploraciones Margarita S.A. de C.V.
(“EM”), a private Mexican company holding an 80% interest in the Project, and (b) an asset purchase
agreement dated August 12, 2025 (the “ Minaurum Agreement ”) with Minaurum Silver Inc. and
Minera Minaurum Gold, S.A. de C.V. (“ Minaurum”), a private Mexican company, pursuant to which
Algo Grande acquired the remaining 20% interest in the Project from Minaurum.
Under the terms of the Infinitum Agreement, Algo Grande acquired EM in exchange for:
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$100,000 in cash; and
1,842,719 Shares, which are subject to voluntary resale restrictions with releases occurring
over a period of 18 months.
Infinitum will also receive a post-closing payment of an additional 901,600 Shares in connection with
the completion of the Financing.
Under the terms of the Minaurum Agreement, Algo Grande acquired the remaining 20% interest in
the Project in exchange for:
313,953 Shares; and
a 1% net smelter return royalty from the sale of any ores, minerals, mineral substances,
metals, or concentrates derived from the Property.
All securities issued pursuant to the Acquisition are subject to a statutory hold period of four (4)
months plus one (1) day from the date of issuance, in accordance with applicable securities
legislation.
Reactivation on the TSX Venture Exchange
The completion of the Acquisition was one of the conditions required by the TSX Venture Exchange
(the “TSXV”) for Algo Grande’s reactivation from the NEX Board of the TSXV onto Tier 2 of the TSXV
(the “ Reactivation”). Algo Grande expects to receive final approval of the Reactivation upon
completion of the remaining filings with the TSXV. The Shares are expected to commence trading on
the TSXV on or about December 23, 2025 under the symbol “ALGR” and Algo Grande’s classification
will change from NEX to Tier 2.
Board and Management Changes
In connection with the Reactivation, Algo Grande wishes to announce changes to its executive
leadership team and board of directors (the “Board”). As previously announced, Enrico Gay has been
named the Chief Executive Officer of Algo Grande. Additionally, Algo Grande welcomes the
appointment of Gord Neal to the Board effective on closing of the Acquisition. Mr. Neal has more
than 30 years of management experience in the metals and mining sector, beginning his career as
VP of Corporate Development at MAG Silver Corp. and has raised over $750M for various resource
companies.
About The Adelita Project
The Adelita Project is anchored by the Cerro Grande Skarn discovery, a high-grade copper-gold-silver
system that remains open along strike and to depth. The project benefits from more than US$8
million in historical exploration, including ~7,000 metres of drilling, license-wide VTEM, IP, and
magnetic surveys, surface sampling, and detailed geological mapping. Recent reprocessing of these
legacy datasets, combined with new modelling, indicates that the skarn system likely continues
down-dip beyond 350 metres and extends around a structural fold toward the northwest, outlining a
potential 1.2 km mineralized trend from the currently defined 300 m corridor.
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Importantly, multiple technical indicators-including potassic feldspar veining, feldspar-porphyry
dikes, a high-resistivity magnetic core beneath the skarn, and zoned geochemistry suggest the
presence of a porphyry feeder system at depth beneath Cerro Grande. This aligns with classic
porphyry–skarn architectures found across northwestern Mexico, including at nearby Piedras
Verdes and Alamo Dorado.
To advance this potential, Algo Grande is executing a triangulated Phase 1 program that integrates:
Oriented-core drilling to define structural controls and geometry;
A detailed ground magnetic survey to map magnetite-rich horizons and intrusive centers;
A 50×50 m soil geochemistry program to refine near-surface targets and identify concealed
skarn extensions; and
Reprocessed 3D geophysical inversions to strengthen porphyry target definition.
These datasets will collectively be used to design a Phase 2 drill program planned for Q2 2026 ,
aimed at materially expanding high-grade skarn mineralization along strike and at depth, while also
conducting the first deep tests of the interpreted porphyry source . With multi-system potential
across a district-scale land package—including skarn, porphyry, and hydrothermal Cu-Zn-Au
targets—Adelita represents a rare, underexplored opportunity in the prolific Arizona–Sonora copper
belt.
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Figure 1. Schematic Block Model of the Skarn-Porphyry Systems.
As a result of completion of the Acquisition, Algo Grande is now in the process of making the
necessary filings with the Mexico Public Registry of Mines to update the registrations for all of the
concessions located on the Project (the “ Concessions”), which are currently under the name of
Minaurum, or in the case of two of the Concessions are registered in the name of a third party. There
are no limitations on Algo Grande accessing or doing work on the Concessions pending the updates
to the registrations, and other than the payment of standard mining duties, Algo Grande does not
anticipate any issues with updating the registrations.
Qualified Person and NI 43-101 Disclosure
The scientific and technical information contained in this news release has been reviewed and
approved by Mr. Lorne Warner, an independent, Qualified Person for Algo Grande as defined in NI
43-101, and the author of the Technical Report.
Investor Relations Agreements
Algo Grande has entered into consulting agreements with the following entities which will become
effective upon completion of the Reactivation.
Euroswiss
Algo Grande has entered into a consulting services agreement (the “ Euroswiss Agreement”) with
Euroswiss, a Switzerland based company. Euroswiss specializes in the fields of business
development, financial consulting, and Internet strategy on the European markets.
The Euroswiss Agreement has an initial term of 12 months, with the option for Algo Grande to renew
and extend if both parties agree to. Pursuant to the Euroswiss Agreement, Euroswiss has agreed to
provide consulting services to Algo Grande, and Algo Grande will pay Euroswiss an total engagement
fee of $90,000. The Euroswiss Agreement is subject to approval from the TSXV.
Euroswiss will provide advice, consultation, information, and services to Algo Grande regarding
general business development, financial consulting, and Internet strategy, with a focus on
increasing Algo Grande’s recognition in the European markets.
Euroswiss and Algo Grande are not related parties and operate at arm’s length. Neither Euroswiss
nor its principals have any interest in Algo Grande’s securities, directly or indirectly, or any right or
intent to acquire such an interest.
GoldInvest
Algo Grande has entered into a Sponsorship Agreement with GoldInvest (the “ GoldInvest
Agreement”), a German based company. GoldInvest assists companies in increasing their public
awareness and online presence in Germany.
Pursuant to the GoldInvest Agreement, GoldInvest shall provide a sponsorship agreement to
publicize Algo Grande throughout its entire publication network, including GOLDINVEST.de, the
German portal for precious metals and mining stocks, for increased awareness of Algo Grande in the
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German speaking financial community. The sponsoring entitles Algo Grande to GoldInvest’s expert
editorial services, video productions services, European distribution network, and social media
channels.
The GoldInvest Agreement has a term of 8 months. Pursuant to the GoldInvest Agreement, Algo
Grande shall provide GoldInvest a one-time fee of €28,000 EUR. The GoldInvest Agreement is subject
to approval from the TSXV.
GoldInvest and Algo Grande are not related parties and operate at arm’s length. Neither GoldInvest
nor its principals have any interest in the Algo Grande’s securities, directly or indirectly, or any right
or intent to acquire such an interest.
Fairfax Partners
Algo Grande has entered into a Services Agreement with Fairfax Partners (the “Fairfax Agreement”),
a British Columbia based company. Fairfax specializes in helping companies engage shareholders,
improve visibility, and manage their investor communications. Pursuant to the Fairfax Agreement,
Fairfax shall provide services to Algo Grande, in the areas of Infrastructure Communications,
Investor Relations Management, Digital Marketing, and related services.
The Fairfax Agreement has an initial term of 6 months, following the initial term the Fairfax Agreement
shall continue on a month-to-month basis, unless terminated by either party. Pursuant to the Fairfax
Agreement, Algo Grande shall pay Fairfax a monthly fee of $5,000, to be paid of the first day of each
month, and a budget up to $250,000, to be allocated at the Algo Grande’s discretion over 6 months.
The Fairfax Agreement is subject to approval from the TSXV.
Fairfax and Algo Grande are not related parties and operate at arm’s length. Neither Fairfax nor its
principals have any interest in Algo Grande’s securities, directly or indirectly, or any right or intent to
acquire such an interest.
Option Grants
Effective upon completion of the Acquisiton, Algo Grande granted a total of 2,870,000 stock options
(“Options”) to certain directors, officers and consultants of Algo Grande under the stock option plan
dated February 17, 2022 (the “ Plan”). Each Option is exercisable for one Share at an exercise price
of $0.375 per Share for a period of two years from the date of grant. 20% of the Options granted will
vest immediately and 20% of the Options will vest every six months from the date of grant. All Options
are subject to the terms of the Plan, and applicable TSXV hold periods.
A technical report prepared in accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects (“NI 43- 101”) entitled “NI 43-101 Technical Report on the Adelita
Project, Sonora/Sinaloa, Mexico” dated effective August 15, 2025, was filed by Algo Grande on
December 15, 2025 (the “Technical Report”).
About Algo Grande Copper Corp.
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Algo Grande Copper Corp., is a growth-focused mineral exploration company advancing the Adelita
Project - a district-scale, multi-system copper-gold-silver opportunity positioned in the prolific
Arizona–Sonora copper belt.
The company is dedicated to unlocking the full mineral potential of this under-explored
corridor through disciplined data-driven exploration, technical excellence, and a firm
commitment to value creation for shareholders. The 5,895-hectare Adelita Project is
anchored by the high-grade Cerro Grande Cu-Au-Ag skarn discovery, which exhibits strong
continuity along a defined corridor extending over 6 kilometers. Reprocessing of legacy
geophysical data and field mapping indicate the presence of a potential porphyry system at
depth, suggesting a classic skarn-porphyry mineralization model similar to major deposits
found throughout northwestern Mexico.
ON BEHALF OF ALGO GRANDE COPPER CORP.
Enrico Gay
Chief Executive Officer
For more information, please contact:
E-mail: [email protected]
Website: www.algo-grande.com
Cautionary Statement on Forward-Looking Information
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.
This news release contains statements and information that, to the extent that they are not historical
fact, constitute “forward-looking information” within the meaning of applicable securities
legislation. Forward-looking information is based on the reasonable assumptions, estimates,
analysis and opinions of management made in light of its experience and its perception of trends,
current conditions and expected developments, as well as other factors that management believes
to be relevant and reasonable in the circumstances at the date that such statements are made, but
which may prove to be incorrect. Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause the actual results, performance or achievements of
the Algo Grande to differ materially from any future results, performance or achievements expressed
or implied by the forward-looking information, including, but not limited to, statements relating to the
proposed use of proceeds of the Financing, the registration of title to the Concessions, business
development, results of operations, and those listed in filings made by Algo Grande with the
Canadian securities regulatory authorities (which may be viewed at www.sedarplus.ca).
Accordingly, readers should not place undue reliance on any such forward-looking information.
Further, any forward-looking statement speaks only as of the date on which such statement is made.
New factors emerge from time to time, and it is not possible for Algo Grande’s management to predict
all of such factors and to assess in advance the impact of each such factor on Algo Grande’s
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business or the extent to which any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward- looking statements. Algo Grande does not
undertake any obligation to update any forward-looking information to reflect information, events,
results, circumstances or otherwise after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law including securities laws.