Kenorland Minerals Reports Maiden Inferred Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Million Ounces at the Frotet Project, Quebec, Where It Holds a 4% NSR Royalty
Kenorland Minerals Reports Maiden Inferred
Resource of 14.5 Mt at 5.47 g/t Au for 2.55
Million Ounces at the Frotet Project, Quebec,
Where It Holds a 4% NSR Royalty
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2025) - Kenorland Minerals Ltd. (TSXV:
KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("
Kenorland
" or the "
Company
") is pleased to announce a
maiden Inferred Mineral Resource of 14.5 Mt at 5.47 g/t for 2.55 million ounces (Moz) of gold for the
Regnault gold deposit at the Frotet Project (the "
Project
") in northern Quebec. Kenorland holds a 4%
NSR royalty (the
"Frotet Royalty"
) across the entirety of the Project, which is 100% owned and
operated by Sumitomo Metal Mining Canada Ltd. ("
Sumitomo
" or "
SMMCL
").
Highlights:
Inferred resource of 14.5 Mt with an average grade of 5.47 g/t Au for 2.55 Moz of gold (Au)
Resource estimate incorporated 289 drillholes totalling 127,217 m of drilling
System remains open in multiple directions with clear potential for resource upside
Kenorland's 4% NSR royalty now backed by formal high-grade multi-million ounce gold resource
Zach Flood, President and CEO, of Kenorland commented, "
The maiden mineral resource estimate of
the Regnault gold deposit firmly underpins the value of Kenorland and our 4% NSR royalty. Achieved
in under five years from grassroots discovery, at a low discovery cost of roughly $20 per ounce,
Regnault has emerged as a high-grade, multi-million-ounce gold deposit that remains wide open for
expansion. Discoveries of this magnitude are rare and given the relatively modest amount of drilling
completed to date, substantial upside potential remains. We're immensely proud to have reached this
milestone in close collaboration with our partners at Sumitomo and look forward to their continued
leadership of the Project moving forward. The Frotet Royalty now stands as one of the highest-quality
royalty assets in the junior sector and will continue to be a clear driver of long-term value for
Kenorland shareholders."
Table 1 - Summary of maiden Mineral Resource Estimate for the Regnault gold deposit
Classification
Tonnage
Average Grade
Contained Metal
(Mt)
Au (g/t)
Ag (g/t)
Au (Moz)
Ag (Moz)
Inferred
14.5
5.47
5.18
2.55
2.41
Notes:
1
.
The Mineral Resource Estimate was completed by SLR Consulting (Canada) Ltd. ("SLR") in accordance with the 2014 Canadian Institute of
Mining, Metallurgy and Petroleum ("CIM") Definition Standards and Canadian National Instrument 43-101 ("NI 43-101"). SLR is independent of
Kenorland and Sumitomo.
2
.
Mineral Resources are estimated at cut-off grades of 2.15 g/t Au for long-hole mining and 2.61 g/t Au for cut-and-fill.
3
.
Mineral Resources are estimated using a long-term gold price of US$2,500 per ounce, and a US$/C$ exchange rate of 1.35.
4
.
Bulk density ranges by domain between 2.75 t/m
3
and 2.86 t/m
3
.
5
.
Metallurgical recovery is 93.3% for gold and 90% for Ag.
6
.
The Mineral Resource excludes a 100 m crown pillar in areas located beneath the lake.
7
.
Mineral Resources are reported within Deswick Stope Optimizer (DSO) underground reporting shapes.
8
.
A minimum mining width of 1.5 m was used for the long hole DSO shapes and 2.5 m for the cut-and-fill DSO shapes.
9
.
Totals may vary due to rounding.
† Note that the average grade and minimum mining width above do not guarantee future production.
2025 Regnault Mineral Resource Estimate
The maiden Mineral Resource Estimate ("
MRE
") incorporates all drilling completed to the end of the
2025 winter program, comprising 289 diamond drill holes totalling 127,217 metres. Modelled grade
shells, each supported by a minimum of three drill holes at up to approximately 100 m spacing, include
92 high-grade veins defined using a 2.50 g/t Au cut-off, as well as a broader low-grade envelope
encompassing 91 veins at a 0.30 g/t Au cut-off.
Inferred Mineral Resources correspond to areas supported by at least three drill holes with nominal drill
spacing of up to approximately 80 m. Classification boundaries were locally refined to reflect geological
interpretation, grade continuity, and zone thickness. Several portions of the deposit, most notably the
R10, R11, and parts of the R9 trends, did not meet the spacing criteria for Inferred classification and
were therefore excluded from the MRE (refer to Figure 1).
The MRE is constrained within underground resource panels based on a 2.15 g/t Au cut-off and a 1.5 m
minimum mining width for long-hole stopes, and a 2.61 g/t Au cut-off with a 2.5 m minimum mining width
for cut-and-fill stopes. Mining methods were selected based on the general geometries and dip of the
modelled grade shells. Material within a 100 m crown pillar was also excluded from the MRE.
Resource classification follows the CIM (2014) Definition Standards. Modelling and estimation were
completed in Leapfrog Geo and Leapfrog Edge, and validation included database checks, wireframe-
to-block volume comparisons, statistical reviews, and visual inspections in plan and long section.
Reporting assumes a gold price of US$2,500/oz, with an effective date of November 30, 2025.
Figure 1: Regnault deposit showing MRE constrained model (grey), and modelled high-grade shells
(red)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/278193_b024c431b4b26936_001full.jpg
†
Note that this cross-section does not indicate the economically viable mining range.
Exploration and Growth Potential
Drilling to date has intersected high-grade gold mineralisation extending well beyond the boundaries of
the current Inferred Mineral Resource Estimate, underscoring significant potential for resource
expansion. Several areas of the deposit, including 19 modelled high-grade shells, did not meet the drill-
spacing requirements for Inferred classification. This is most notable in the southern portion of the
system, including the entire R10 and R11 vein sets and portions of the R9 trend, where further infill
drilling has the potential to incorporate additional high-grade mineralisation into future resource
estimates.
Key examples of high-grade mineralisation, remaining open and outside the resource estimate, include:
Within the modelled R10 trend: 3.00m at 10.09 g/t Au, including 1.00m at 27.35 g/t Au
(25RDD232)
1
Within the modelled R11 trend: 6.70m at 30.41 g/t Au, including 2.75m at 72.56 g/t Au
(25RDD252); 7.70m at 16.26 g/t Au, including 0.70m at 121.70 g/t Au (25RDD252); and 4.45m at
11.96 g/t Au (23RDD172)
1,2
Along strike and 250m outside the modelled R11 trend: 4.75m at 5.97 g/t Au, including 0.50m at
46.70 g/t Au and 1.20m at 55.70 g/t Au (23RDD159)
3
Along strike and 600m outside the modelled R9 trend: 1.20m at 13.83 g/t Au and 4.75m at 3.93 g/t
Au, including 1.25m at 12.03 g/t Au (25RDD240)
1
These results demonstrate extensive high-grade gold mineralisation well beyond the current resource
footprint, and along with the potential to discover additional veins, highlight the upside for future resource
expansion.
Figure 2: Drill hole assays, MRE constrained model (grey), and modelled high-grade shells (red)
highlighting significant drill intercepts outside of completed MRE from the Regnault gold deposit of
the Frotet Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/278193_b024c431b4b26936_002full.jpg
† Assay intervals reported above are core lengths, true widths have not been determined.
†
Note that this cross-section does not indicate the economically viable mining range.
About Frotet Project
The Project covers 38,930 hectares of the Frotet-Evans greenstone belt within the Opatica geological
sub-province of Quebec. The property is adjacent to the past-producing Troilus Gold Corporation's Au-
Cu mine (9.32Moz Au Indicated Mineral Resource) and covers several major deformation zones
associated with known orogenic gold prospects, as well as stratigraphy hosting VMS deposits
elsewhere in the belt. Kenorland initially staked the Project in 2017 and then entered into a joint venture
and earn-in agreement with Sumitomo in 2018.
The Project includes the Regnault gold deposit, a greenfields discovery made by Kenorland and
Sumitomo in 2020 following two years of systematic exploration. Since the initial discovery, Regnault has
seen extensive exploration, totaling 131,713 metres of drilling (296 drill holes) to date and hosts an
Inferred Mineral Resource of 14.5 Mt at 5.47 g/t Au for 2.55 Moz of gold.
On February 19, 2024, Kenorland closed a transaction to exchange its 20% participating interest in the
Frotet Joint Venture with Sumitomo to a 4% NSR Royalty.
The Project is located 100 kilometres to the north of Chibougamau, Quebec. Favorable infrastructure
exists in the project area with an extensive forestry road network as well as the Route-du-Nord crossing
the southwestern portion of the property. A power transmission line also crosses through the property
which supplied power to the past producing Troilus mine.
Figure 3: Map showing Kenorland's 4% NSR royalty interest at Frotet
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6489/278193_b024c431b4b26936_003full.jpg
*Technical Report and Mineral Resource Estimate on the Troilus Gold-Copper Project, Mineral Resources Effective Date: 02 October 2023
** Mineral Resource Estimate on Moblan Lithium Project, Mineral Resources Effective Date: 21 March, 2023
***The Frotet Royalty is subject to the following buy down rights in favour of Sumitomo:
A 0.25% royalty interest may be purchased for a C$3,000,000 cash payment to Kenorland within five (5) years of the grant of the Frotet Royalty
A 0.50% royalty interest may be purchased for a C$10,000,000 cash payment to Kenorland within ten (10) years of the grant of the Frotet Royalty
In the event Sumitomo exercises the foregoing buy down rights, the Frotet Royalty would be reduced to an uncapped 3.25% net smelter return
royalty on all minerals extracted from the Project
Qualified Person
The Mineral Resource estimate was prepared by Marie-Christine Gosselin, P.Geo., géo., a Qualified
Person with SLR Consulting (Canada) Ltd. and a registered member of the Ordre des Géologues du
Québec (OGQ #02060). It is reported in accordance with the CIM Definition Standards (2014). The
scientific and technical information in this news release related to the Frotet Mineral Resource estimate
has been reviewed and approved by Ms. Gosselin, who is independent of Kenorland Minerals Ltd. and
Sumitomo Metal Mining Canada Ltd.
SLR is unaware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or other
relevant issues that could materially affect the Mineral Resource estimate.
Cédric Mayer, M.Sc., P.Geo. (OGQ #02385), Senior Project Geologist at Kenorland, a "Qualified
Person" under National Instrument 43-101, has reviewed and approved the scientific and technical
information in this press release.
A technical report will be prepared by Qualified Persons in accordance with the requirements of NI 43-
101 and will be filed on SEDAR+ within 45 days of this press release.
References
1
See press release dated June 17, 2025
2
See press release dated August 8, 2023
3
See press release dated May 31, 2023
About Kenorland Minerals Ltd.
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
.
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
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.
This news release may contain information about adjacent properties on which the Company does not
have an interest. The Qualified Person has not verified the information, and it is not necessarily
indicative of the mineralisation on the Project.
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/278193