Kenadyr Metals to Become Algo Grande Copper, Secures Path to 100% Ownership of the Adelita Project, TSXV Reactivation, $3M Financing and Board Changes
Kenadyr Metals to Become Algo Grande Copper, Secures Path to 100%
Ownership of the Adelita Project, TSXV Reactivation, $3M Financing and Board
Changes
• Kenadyr Metals to be renamed Algo Grande Copper Corp., applying to complete
TSXV reactivation
• Kenadyr has entered into agreements to acquire a 100% interest in the high-grade
Adelita Copper-Gold-Silver Project, a district-scale opportunity in the prolific
Sonora–Arizona Copper Belt. This includes the previously announced agreement to
acquire an initial 80% interest (see news release dated June 20, 2025)
• Technical team led by Dr. Peter Megaw, co-founder of MAG Silver and key figure
behind multiple major Mexican discoveries. Gord Neal, a key executive in the value
creation of MAG Silver to join the Company’s Board
• Launch of $3 million subscription receipt financing at $0.375 to fund exploration
and growth initiatives
Not for distribution to United States newswire services or for release publication, distribution, or
dissemination directly, or indirectly, in whole or in part, in or into the United States.
VANCOUVER, BC – August 18, 2025 – Kenadyr Metals Corp., to be renamed Algo Grande
Copper Corp. (“Algo Grande”) (TSX-V: KEN.H; OTC: KNDYF) announces the launch of its
copper-focused growth strategy with the proposed reactivation on the TSX Venture
Exchange. As part of the transaction, Algo Grande is consolidating 100% ownership of the
5,985-hectare Adelita Project, having signed a definitive agreement to acquire the remaining
20% interest. This builds on the initial agreement to acquire an 80% stake, securing full
control of the district-scale asset (see news release date June 20, 2025). Located in the
Sonora–Arizona Copper Belt, the project is anchored by a near-surface, high-grade Cu-Au-
Ag skarn system, multiple untested skarn targets, and a 4.5 km porphyry anomaly.
Algo Grande is advancing a North America-focused high-grade copper strategy, aiming to
unlock shareholder value through modern, data-driven exploration. The company has
assembled an experienced and well-rounded team with deep technical expertise and
capital markets experience. The company is pleased to announce that Gord Neal plans to
join the Board in connection with the completion of the acquisition of the Adelita Project.
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. Mr. Neal
has raised over $750M for various resource companies. Mr. Neal is joining a veteran team
of mining executives and entrepreneurs:
• Company’s Technical Advisory Board is led by renowned exploration geologist Dr.
Peter Megaw, co-founder of MAG Silver, and is further strengthened by respected
mining executive Michael Williams and mining engineer John McVey
• Company’s Management Team includes Tim McCutcheon (CEO) and Kevin Ma
(Executive Director) with a combined 50 years of mining executive and capital
markets experience
This team brings a proven track record of value creation across exploration, project
development, and strategic corporate growth.
Timothy McCutcheon, CEO of Kenadyr, commented: “Algo Grande is building a copper
company designed to give stakeholders maximum leverage to rising copper prices. We are
honored to have Dr. Peter Megaw on our team and, now to welcome Gord Neal. Gord
played a key strategic role alongside Peter during MAG Silver’s early growth—and together,
they bring tremendous value and proven discovery-to-development expertise to Algo
Grande.”
About The Adelita Project
The Adelita Project is anchored by the Cerro Grande Skarn discovery, a near-surface
copper-gold-silver system open along strike and depth. Leveraging over US$8 million in
historical exploration data - including 7,000 metres of drilling and extensive geophysical
surveys (VTEM, IP, magnetics).
Project Highlights:
• The 5,985-hectare Adelita Project hosts a pipeline of untested, high-priority targets
beyond the Cerro Grande Skarn discovery, which covers just ~5% of the property
• Multiple high-priority skarn targets along a 6 km untested corridor, in addition to a
large 4.5 km porphyry-related geophysical and geochemical anomaly
• Exploration permit and social license secured; inaugural drill program scheduled
for fall 2025
• Historic Drill Results (Cerro Grande Skarn Zone):
o 47.64 m @ 1.05% Cu, 0.46 g/t Au, 46.00 g/t Ag
o 22.35 m @ 1.35% Cu, 0.51 g/t Au, 69.00 g/t Ag
o 11.20 m @ 1.11% Cu, 0.59 g/t Au, 39.90 g/t Ag
• Strategic Location & Infrastructure: The Adelita Project is situated in Sonora,
Mexico’s top copper-producing state, accounting for 80% of the Country’s copper
production. The project benefits from road access, nearby grid power, water
availability, and is approximately 300 km from the Guaymas deep-water port
• Its proximity to regional smelting infrastructure currently processing low-grade
porphyry feed presents a strategic opportunity for Algo Grande to supply high-grade
supplemental material
All technical information in this news release regarding the Adelita Project, including
historical drill intercepts and exploration data, is derived from the “Technical Report for the
Adelita Project, Sonora, Mexico,” dated June 10, 2021, prepared by Mark T. Smethurst,
P.Geo. for Infinitum Copper Corp., and filed under Infinitum Copper Corp.’s profile on
SEDAR+ at www.sedarplus.ca.
Securing 100% Ownership in High-Grade CU-AU-AG Adelita Project
Kenadyr announces that it has entered into an asset purchase agreement dated August 12,
2025 (the “Minaurum Agreement”) with Minaurum Gold Inc., an arm’s length party to
Kenadyr, and Minera Minaurum Gold, S.A. de C.V. (“Minaurum”), a private Mexican
company, to acquire Minaurum’s 20% right, title, and interest in the Adelita Project. The
transaction is expected to complete concurrently with the Corporation’s acquisition of
Exploraciones Margarita S.A. de C.V., a private Mexican company holding an 80% interest in
the Adelita Project (see news release dated June 20, 2025), resulting in the Corporation
acquiring a 100% interest in the Property (collectively, the “Acquisitions”).
Under the terms of the Minaurum Agreement, Kenadyr will acquire a 20% interest in and to
the Property in exchange for:
• 313,953 common shares in the capital of the Corporation (the “Common
Shares”), representing $135,000 of Common Shares to be issued at a price of
$0.43 per Common Share; and
• a 1% net smelter return royalty from the sale of any ores, minerals, mineral
substances, metals, or concentrates derived from the Property.
The Acquisitions are subject to customary conditions, including approval by the TSX Venture
Exchange (“TSXV”). The Acquisitions will be a fundamental acquisition for Kenadyr, with
Kenadyr applying to reactivate from NEX to the TSX V (the “Reactivation”) as described
below. Trading in the Common Shares will remain halted pending receipt and review of
acceptable documentation pursuant to Section 5.6(d) of TSXV Policy 5.3.
$3 Million Reactivation Financing
In connection with the Acquisitions, Kenadyr will complete a concurrent non -brokered
private placement of subscription receipts (the “Subscription Receipts”) at a price of $0.375
per Subscription Receipt for aggregate gross proceeds of approximately $ 3,000,000 (the
“Financing”). Each Subscription Receipt will convert into one Common Share subject to the
satisfaction of certain escrow release conditions, includ ing the completion of the
Acquisitions and approval of the TSXV. The proceeds of the Financing will be held in escrow
pending satisfaction of the escrow release conditions.
Closing of the Offering is subject to customary conditions, including TSXV approval.
Proceeds from the Financing will be used to fund payment obligations and exploration
expenditures relating to the Property, and for general working capital purposes.
The Corporation may pay finders’ fees to eligible parties in accordance with applicable
securities laws and TSXV policies. Securities issued pursuant to the Financing will be
subject to a statutory hold period of four months plus one day.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any
of the securities in the United States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or
any state securities laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.
Application for Reactivation to TSXV
It is anticipated that the Acquisitions and the Financing will result in the Corporation
satisfying the TSXV’s continued listing requirements for a Tier 2 mining issuer. In connection
with the Acquisitions and the Financing, the Corporation intends to apply to the TSXV to
graduate from the NEX board of the TSXV to Tier 2 of the TSXV.
It is also anticipated, that in connection with the Acquisitions and the Financing, the
Corporation will change its name to “Algo Grande Copper Corp.” The Corporation will issue
a further news release upon receiving Exchange approval, announcing the effective date of
the name change.
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 Kenadyr Metals
Corp. as defined in National Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
Mr. Warner has examined information regarding the historical exploration at the Adelita
Project, which includes his review of the historical sampling, analytical and procedures
and two site visits to verify drill collar locations and personally collect rock samples for
analysis. Mr. Warner also completed a technical Ni-43-101 report on the property in 2021
and recently completed a second technical report on the property, yet to be published.
Management notes that historical results were collected and reported by operators
unrelated to Kenadyr Metals Corp., but have been verified by its Qualified Person; as a
result, the historical results create a scientific basis for ongoing work in the Kenadyr
Metals, Adelita property. Management cautions that historical results, discoveries and any
published resource estimates on adjacent or nearby mineral properties, whether in stated
current resource estimates or historical resource estimates, are not necessarily indicative
of the results that may be achieved on the Kenadyr Metals, Adelita property.
About Kenadyr Metals Corp.
Kenadyr Metals Corp., to be renamed Algo Grande Copper Corp., is advancing a high-grade
copper exploration project in the Sonora–Arizona Copper Belt, one of the world’s most
productive copper regions, comparable in scale to Chile’s Andean Belt.
The company has entered into agreements to acquire the Adelita Project, which is
anchored by the Cerro Grande skarn, a high-grade, near-surface Cu-Au-Ag system in
Sonora, Mexico. With over 7,000 metres of historical drilling, extensive geophysical data
(VTEM, IP, magnetics), and multiple untested targets, the project offers district-scale
upside. Legacy datasets are being reprocessed using AI-assisted 3D geophysical
modeling to refine drill targets and guide potential resource delineation.
ON BEHALF OF KENADYR METALS CORP.
“Tim McCutcheon”
Tim McCutcheon
Chief Executive Officer and Director
For more information, please contact:
Tim McCutcheon
E-mail: [email protected]
Website: www.algo-grande.com
Tell: +1 236 836 4182
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 Corporation 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 completion of the Acquisitions and the Financing, the proposed use of proceeds of the Financing, the
receipt of all necessary corporate and regulatory approvals for the Reactivation, the completion of the name
change, business development, results of operations, and those listed in filings made by the Corporation 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 the Corporation’s management to predict all of such factors and to assess in
advance the impact of each such factor on the Corporation’s 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. The Corporation 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.