TSXV:KLD

Kenorland Minerals Reports Geochemical Results at the Chebistuan Project and Provides Exploration Update

Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: NWRCF) (FSE: 3WQ0) (" Kenorland " or " the Company ") is pleased to report results from its recently completed Phase 2 follow-up geochemical survey at the Chebistuan Project (the "Project" ), located in the northern Abitibi greenstone belt of Quebec and held under an exploration agreement with Newmont Corporation. The company further announces additional planned exploration including detailed prospecting and geophysical surveys at one of the priority target areas within the Chebistuan Project.

Program Highlights

The Phase 2 geochemical survey followed up on multiple anomalous areas of interest defined by the initial regional program (Phase 1) in 2020. A total of 2,121 soil samples were collected for geochemical analysis and 225 till samples collected for gold grain analysis.  The results of the Phase 1 and Phase 2 surveys have outlined multiple gold and pathfinder element anomalies within the Deux Orignaux AOI (Figure  1), which will be further advanced with upcoming prospecting and detailed geophysical surveys, including airborne magnetics, radiometrics and induced polarization (IP), in preparation for drill targeting.

Zach Flood , President and CEO, states, "This is another step forward and a significant development in the systematic exploration of the Chebistuan Project, one of the largest contiguous land packages in Quebec.  We've effectively screened over 170,000 hectares of ground in just over a year and we now have discrete target areas which will see detailed follow-up exploration, including prospecting and geophysical surveys this fall.  We look forward to further advancing these targets with support from Newmont Corporation."

Deux Orignaux AOI

Within the Deux Originaux AOI are several target areas spatially associated with the contact between a clastic sedimentary basin (Opemiska Group) and volcanic rocks along a major structural bifurcation in the geometry of the greenstone belt. Multiple second-order structures at oblique angles to the 1 st order basin-bounding structure form "horse-tail splay" structural patterns through the AOI, which is prospective for orogenic gold deposits (Figure 2). A helicopter-borne magnetic survey and an IP survey are planned over the Deux Originaux AOI, as well as follow-up prospecting, to further vector in towards drill targets.

QA/QC and Sampling Protocols

Soil samples were collected from the B-horizon of soil developed on a till substrate.  Approximately 1 kilogram of material was collected from each sample site and shipped to Bureau Veritas ("BV") in Timmins, Ontario for preparation.  Samples were prepared for analysis according to BV method SS230; sieve individual samples to 230 mesh (-63 microns). Samples were analysed at BV in Vancouver, British Columbia with BV method AQ252_EXT; 30 grams of material digested in aqua regia with an ICP-MS finish.

About the Chebistuan Project

The Project consists of 3,000 claims (161,025 ha) owned 100% by Kenorland. The property covers approximately 100 kilometers of a major east-west trending deformation zone which may represent the continuation of the Sunday Lake Deformation Zone, hosting major gold deposits such as Detour Lake (Kirkland Lake Gold Ltd.) and Fenelon (Wallbridge Mining Company Ltd.).  The Chibougamau and Chapais mining camps, which have produced over 6.5 Moz of gold and 1.6 billion pounds of copper historically, are located directly to the east of the Chebistuan property.  The project is largely covered with glacial till and is accessed by a large network of logging roads as well as helicopter.

The Project is currently under an Exploration Agreement with Venture Option with Newmont Corporation. The Agreement provides an option for a two-phased exploration earn-in over 3 years, where Newmont can earn a 51% interest in the Chebistuan Project through certain exploration expenditures and cash payments to Kenorland.  The initial phase of the agreement consists of a property- wide geochemical sampling program, target definition and testing.  Newmont then has the option to earn an additional 29% interest for a cumulative 80% interest (phase two earn-in) in the Chebistuan Project over 6 years by completing a 43-101 compliant pre-feasibility study on a minimum 1.5 Moz Au resource as well as meeting certain cash payments to Kenorland.  The parties may continue to explore and develop the property through an 80% Newmont, 20% Kenorland joint venture or, in the case of a construction decision, Kenorland can elect for Newmont to finance its portion of mine development cost.  If Newmont elects not to continue with the phase two earn in, then ownership interest in the project will switch to 51% Kenorland and 49% Newmont.

Qualified Person

Mr. Jan Wozniewski , B. Sc., P. Geo., OGQ (#2239) is the "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Kenorland Minerals

Kenorland Minerals Ltd. (TSX.V KLD) is a mineral exploration Company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia , Canada. Kenorland's focus is early to advanced stage exploration in North America . The Company currently holds three projects in Quebec where work is being completed under joint venture and earn-in agreement from third parties. The Frotet Project is held under joint venture with Sumitomo Metal Mining Canada Ltd. (SMMCL), the Chicobi Project is optioned to SMMCL, and the Chebistuan Project is optioned to Newmont Corporation. In Ontario the Company holds the South Uchi Project under an earn-in agreement with a wholly-owned subsidiary of Barrick Gold Corporation. The Company also owns 100% of the advanced stage Tanacross porphyry Cu-Au project as well as an option to earn up to 70% from Newmont Corporation on the Healy Project, both located in Alaska, USA .

Further information can be found on the Company's website www.kenorlandminerals.com

Kenorland Minerals Ltd.
Zach Flood
President and CEO
Tel: +1 604 363 1779
zach@kenorlandminerals.com

Kenorland Minerals Ltd.
Francis MacDonald
Executive Vice President
Tel: +1 778 322 8705
francis@kenorlandminerals.com

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.

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SOURCE Kenorland Minerals Ltd.

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Overview

Many exploration companies focus on making discoveries by acquiring and drilling properties where historical mines had previously operated, or where other occurrences have been known about. However, one company suggests that a significant opportunity exists to make completely new greenfields discoveries through large-scale systematic exploration in otherwise under-explored regions of world-class mining districts.

Kenorland Minerals Ltd. (TSXV:KLD,OTCQX: NWRCF,FSE: 3WQ0) is a Canada-based mineral exploration company that is focused on making new discoveries through large-scale early-stage exploration within Quebec and Alaska, two of the world's most geologically prospective mining jurisdictions. The company is led by an experienced team of geoscientists with a deep understanding of mineral systems and exploration methodology. Kenorland's approach to exploration is simple: Identify under-explored areas within proven mineral districts, acquire large land positions covering prospective geology, and carry out large-scale, systematic exploration to screen these areas for new mineral deposits. The approach is not novel but the scale at which the company is exploring sets them apart from their peers. The company currently holds and is exploring over 400,000 hectares of ground in these world renowned jurisdictions.

Kenorland Minerals' Company Highlights

  • Well-funded with over $9,500,000 cash in the treasury.
  • Tight share structure with large insider ownership and strong long term shareholders including Quebec-based institutional funds and well-known financiers including John Tognetti and Paul Stephens.
  • Exposure to a vast portfolio of exploration ground with over 400,000 hectares of mineral tenure within Alaska, Quebec and Manitoba.
  • Earn-in agreements with Sumitomo Metal Mining and Newmont Corporation funding exploration on greenfields projects in Quebec.
  • The company recently made a major gold discovery in Quebec in an area with no known previous exploration. Initial scout drilling in early 2020 intersected 29.08 meters at 8.47 g/t gold and 11.13 meters at 18.43 g/t gold. Drilling continuing in Q1 2021.
  • Significant discovery potential on the Healy property which covers a newly recognized large-scale gold system in the Goodpaster district of Alaska. Initial diamond drill testing in Summer 2021.
  • Further significant discovery potential on Kenorland's 100 percent owned Tanacross Project, located in eastern Alaska, which covers a significant cluster of porphyry copper-gold systems. Drilling planned for Summer 2021.
  • A total of three projects being drill tested in 2021 as well as a pipeline of additional projects being advanced through systematic exploration. Continual project generation and evaluation of new opportunities.
  • Kenorland acquired district-scale land package in Ontario's Birch-Uchi Greenstone Belt by staking, 65,657 hectares of mineral claims.
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