Kenorland Extends Till Anomaly and Commences 3D IP Survey at Regnault

Kenorland Minerals Ltd. (“Kenorland” or “the Company”) is pleased to report additional geochemical sampling results, including fine-fraction geochemistry, gold grain counts, as well as boulder assays from the fall 2020 exploration program at the Regnault target within the Frotet Project (the “Project” ) located in the Frotet-Evans greenstone belt of Quebec . All samples were collected to the southwest of the Regnault Discovery Area where the company intersected 29.08m at 8.47gt Au including 11.13m at 18.43gt Au on the initial first pass drill program in early 2020 (see press release dated July 29, 2020 ). In addition, a 129 line-kilometer 3D induced polarization (IP) geophysical survey covering the entire five kilometer Regnault trend is currently underway.

Geochemistry Highlights:

Fine-fraction till geochemistry: 1,230 fine fraction, B-horizon soil samples, with an approximate 50m x 100m spacing were collected covering the Regnault South Area. The Regnault fine-fraction Au-in-till anomaly has been increased in length from 2.75 kilometers to 5 kilometres.

Gold grain counts: 59 till samples returned up to 313 pristine gold grains in the Regnault South Area and suggest that additional mineralized bedrock sources may be located to the southwest of the Regnault Discovery Area. 14 samples returned over 50 grains and 4 samples over 100 grains.

Boulder sampling: Boulder samples returned gold values up to 6.46 g/t Au with best gold values found in bleached, silicified basalt, a rock type that has not been intersected in drilling to date and represents a potential new bedrock source of gold.

2021 IP Survey

Additionally, Kenorland has commenced a 129 line-kilometer 3D induced polarisation (IP) survey over the entire five kilometer long glacial dispersion plume. The original IP survey that was conducted in January 2020 , which was critical in targeting within the initial Regnault Discovery Area, had a line spacing of 200m . The current IP survey has a line spacing of 50m over the Regnault Discovery Area and 100m line spacing over the Regnault South area.

The 2021 IP survey has two objectives: target definition in areas where gold was intersected in initial scout drilling within the Regnault Discovery Area, as well as identification of new targets within the Regnault South Area, where no drilling has been completed to date.

Q1 2021 Exploration Program

The 3D IP survey will be carried out from January to early February. Data processing and drill targeting will occur in February in preparation for the planned 9,000m diamond drill program beginning in March. Approximately 6,000m of drilling will be allocated to the Regnault Discovery Area, following up on previously intersected mineralization, while an additional 3,000m will be allocated to testing new target areas along trend at Regnault South.

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.

10 kilogram till samples from the C-horizon of glacial till. Samples were processed by IOS Services Geoscientifique Inc. in Chicoutimi, Quebec using their ArtGOLD and ArtPHOT methodologies. Samples were wet sieved to the -1mm fraction and run through a fluidized bed to concentrate heavy minerals. Heavy mineral concentrates were sieved to the -50um fraction and attached to a carbon puck, then scanned with a high-resolution optical camera to identify gold grains and their morphologies (ArtPHOT technique). Gold grains that were recognized with the automated photo recognition were scanned with a research-grade scanning electron microscope to confirm the composition. All gold grain counts referred to in the press release have been normalized to 10 kilograms of table feed.

Qualified Persons

Janek Wozniewski , P.Geo. (OGQ #2239), Exploration Manager of Kenorland Minerals Ltd., Qualified Person under NI 43- 101 on standards of disclosure for mineral projects, has reviewed and approved the technical content of this release.

About the Frotet Project

The Frotet Project was first identified by Kenorland in 2017 after completing a regional prospectivity study over the Abitibi and Frotet-Evans Greenstone Belts. The Frotet-Evans greenstone belt hosts the Troilus Au-Cu deposit which produced  more than two million ounces of gold of and ~70,000 tons of Cu from 1996-2010 and currently contains 3.97Moz Au indicated and 1.53Moz Au inferred (Troilus Gold website). The initial 55,921 ha property was acquired through map staking in March, 2017 and then optioned to SMMCL in April, 2018. The two staged earn-in agreement allows SMMCL to earn 65% by funding C$4.3 million in expenditures over an initial three years. SMMCL has currently exercised the initial option and holds a 65% interest in the Project. SMMCL then has the option to earn an additional 15% (80% total) by funding another C$4 million over the following year. Once a joint venture is formed, pro rata funding begins and any party diluted below a 10% interest will convert their interest to a 2% uncapped net smelter royalty.

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 where work is being completed under an earn-in agreement from third parties. The Frotet and Chicobi Projects, which are both located in Quebec, Canada , are optioned to Sumitomo Metal Mining Canada Ltd. and the Chebistuan Project, also located in Quebec , is optioned to Newmont Mining. 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

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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