Kenadyr Provides Corporate Updates

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Kenadyr Provides Corporate Updates

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 – October 19, 2023 - Kenadyr Metals Corp. (TSX-V: KEN; OTC-MKTS: KNDYF;

FRA: KM0) (the “Company” or “Kenadyr”) provides the following corporate updates.

Transfer to NEX

As a result of no longer meeting continuous listing requirements for a Tier 2 Company on the TSX-

V, the listing of the Company’s shares will be transferred from the TSX-V to the NEX Board of the

TSX-V (“NEX”). Effective as of market open on Monday, October 23, 2023, the Company’s listing

will transfer to NEX and its trading symbol will be changed from “KEN” to “KEN.H”.

There is no change in the Company’s name, no change in its CUSIP number and no consolidation

of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within

the TSX-V.

Director Appointment

Kenadyr is also pleased to announce the appointment of Jonathan Yan to the Company’s Board

of Directors, effective August 30, 2023.

Mr. Yan, CPA, CA holds a Diploma in Accounting and a Bachelor of Science Degree from the

University of British Columbia. Mr. Yan has 10 years of experience in audit and accounting for

various private and publicly listed Canadian companies. He is currently the Chief Financial Officer

of Axcap Ventures Inc (CSE: AXCP), First Uranium Resources Ltd. (CSE: URNM), and Peak Minerals

Ltd (CSE: PEK).

Sale of Subsidiary

The Company announces that it has entered into an agreement dated effective September 27,

2023 to sell its wholly-owned subsidiary Kenadyr Mining Corporation to an arm’s length third

party for US$1 million, subject to certain closing conditions, including shareholder and NEX

approvals. Kenadyr Mining Corporation owns 100% of the Borubai gold project in the Kyrgyz

Republic.

AGM Update

Kenadyr also announces that it has received approval from the British Columbia Registrar of

Companies to extend the time within which the Company is required to hold its 2023 Annual

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General Meeting (the “ 2023 AGM”) to December 30, 2023. The Company has filed a notice of

meeting and record date to hold the 2023 AGM on December 7, 2023. At the 2023 AGM,

shareholders will be asked to approve the sale of Kenadyr Mining Corporation, as described

above.

ON BEHALF OF KENADYR METALS CORP.

“Tim McCutcheon”

Tim McCutcheon

Chief Executive Officer and Director

For more information, please contact:

Tim McCutcheon or Kevin Ma

E-mail: [email protected]

Phone: +1-604-569-2963 Ext 105

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.

Cautionary Statement on Forward-Looking Information

This press release includes "forward-looking information" that is subject to a number of

assumptions, risks and uncertainties, many of which are beyond the control of the Company.

Forward-looking statements may include but are not limited to, statements relating to the trading

of the Company's common shares on the Exchange and the holding of the Company’s AGM and

are subject to all of the risks and uncertainties normally incident to such events. Investors are

cautioned that any such statements are not guarantees of future events and that actual events

or developments may differ materially from those projected in the forward- looking statements.

Such forward-looking statements represent management's best judgment based on information

currently available. No securities regulatory authority has either approved or disapproved of the

contents of this news release.