CEO.CA Chairman's Briefing

Vancouver, British Columbia--(Newsfile Corp. - June 13, 2022) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: NWRCF) (FSE: 3WQ0) ("Kenorland" or "the Company") is pleased to announce initial drill results from the 2022 winter drill program at the Frotet Project, ("the Project"), located in northern Quebec and held under joint venture ("the Joint Venture") with Sumitomo Metal Mining Canada Ltd. ("SMMCL"). Assays from 20 of 25 drill holes completed, including 8,040 meters of the 10,880 meter program, are reported herein. The Company is also pleased to provide an update on the recently announced summer drill program and exploration activities currently underway at the Frotet Project.

Drill highlights include the following:

• 22RDD111: 2.00m at 20.43 g/t Au incl. 0.70m at 46.20 g/t Au at R4
• 22RDD113: 2.25m at 18.63 g/t Au incl. 0.35m at 72.90 g/t Au at R4
• 22RDD121: 5.70m at 8.10 g/t Au incl. 2.30m at 15.72 g/t Au at newly discovered vein
• 22RDD124: 4.00m at 10.17 g/t Au incl. 1.35m at 25.99 g/t Au at R5
• 22RDD130A: 3.85m at 44.95 g/t Au incl. 1.20m at 127.83 g/t Au at R1

Figure 1. Plan map of Regnault drilling (reported, assays pending, and current program)

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Zach Flood, CEO of Kenorland Minerals, states, "Initial results from the 2022 winter drill program at the Frotet Project continue to demonstrate the scale and high-grade nature of the Regnault gold discovery. Most of the drilling this year, including the program currently underway, has been designed to aggressively step-out and expand the mineralised footprint both along strike and at depth of the vein system. In addition to these step-outs, we have been drilling beyond the known veins which has led to the discovery of multiple sub-parallel mineralised structures, which are now also being followed up on with wide-spaced step-outs. So far, we are delighted with the success rate we are seeing at the drill bit and the impressive trajectory of this discovery."

Discussion of Results

The reported 20 drillholes (8,040m) are the initial results from the 2022 winter drill program at Regnault. At the R2 and R4 trends, drilling was designed primarily to expand the strike extent of mineralised structures, while drilling at the R1 trend was testing the down dip extents and exploring for additional mineralised structures immediately to the south.

Along the R4 trend, highlights include hole 22RDD111 which stepped 70m east from 21RDD031 (2.70m at 15.87 g/t Au*) and intersected 2.00m at 20.43 g/t Au including 0.7m at 46.20 g/t Au. Hole 22RDD113, also on the R4 trend, stepped 100m east from 20RDD004 (2.59m at 9.89 g/t Au**) and intersected 2.25m at 18.63 g/t Au incl. 0.35m at 72.9 g/t Au. The R4 trend was extended to a total of 200m strike and 225m down dip remaining open along strike and to depth.

At the R1 trend, hole 22RDD130A stepped 100m down-dip of 21RDD098 (0.33m at 30.60 g/t Au***) and intersected 3.85m at 44.95 g/t Au incl. 1.20m at 127.83 g/t Au. On the recently announced discovery and definition of the R5 structure, hole 22RDD124 stepped 125m down-dip of 21RDD110 (4.50 at 2.52 g/t Au***) and intersected 4.00m at 10.17 g/t Au incl. 1.35m at 25.99 g/t Au. New vein intercepts interpreted to be sub-parallel to, and 100m below the R1/R5 structures were intersected by hole 22RDD121 returning 5.70m at 8.10 g/t Au incl. 2.30m at 15.72 g/t Au. The discovery of these additional mineralised structures indicates the potential for further sub-parallel structures at depth in the Regnault system. These results along the R1 and R5 structures extend the known mineralisation to depths of 400m and 450m below surface respectively, and remain open at depth.
(^* See press release dated May 26^th 2021, ^** See press release dated July 29^th 2020, ^*** See press release dated March 28^th 2002)

Figure 2. Core photo of 22RDD130A from R1 zone

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Gold mineralisation along the R1 trend is associated with multiple east-west trending and north-dipping shear zones. Mineralised structures transect both the multiphase Regnault intrusive complex and surrounding volcanic rocks, and are defined by zones of moderate-strong strain, biotite-calcite ± silica-chlorite alteration and disseminated pyrite (locally ranging from 3-10%). High grade intercepts are characteristically shear-hosted laminated quartz-carbonate-pyrite veins, often haloed by variably deformed extensional stockwork quartz veining locally containing up to 20% pyrite along with trace chalcopyrite, Au ± Ag tellurides and visible gold.

Figure 3. Cross section through R1, R5, new vein discoveries (500m section thickness; looking east)

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Scott Smits, Vice President of Exploration, states, "The success of the recent winter drill campaign is evident by the results we have obtained from the broad-spaced step-outs along our known mineralised trends. We have extended known high-grade mineralisation along strike at R4, along strike and at depth along R1 and the recently defined R5 trend. We are continuing on this success with the ongoing summer drill program, demonstrating the potential for growing the mineralised footprint at Regnault, followed by the maiden drill program at our regional Cressida target to begin later in June."

Prior to the announcement of the company's summer 2022 drill campaign, a total of 45,086m had been drilled at Regnault including the initial discovery drill program in early 2020. Drilling is currently underway from the recently announced fiscal 2022 exploration budget (see press release dated May 3, 2022) which will include up to 40,000 meters of drilling carried out over two phases: a summer campaign from April to July of 2022, and a winter campaign from January to April of 2023.

Figure 4. Table of results from the 2022 winter drill program

  
*Assay intervals reported are core lengths, true widths have not been determined
**Residual Au (g/t) represents the average grade of the drill hole interval excluding the highlighted internal interval

Figure 5. Drill collar table of reported drillholes from the 2022 winter drill program

 
Regnault Summer 2022 Drill Program Update

The current ongoing Regnault summer 2022 drill program is planned for approximately 12,000 meters with the intention to systematically step-out out along known mineralised structures and explore for additional sub-parallel structures to the south of the Regnault discovery area. Drilling completed to date has targeted broad-spaced step-outs along the R1, R5 and newly discovered mineralised structures (22RDD129) towards the east and at depth. Additional drillholes have tested the western extension along the R5 and newly discovered mineralised structures. Visual indications of shear-related mineralisation including quartz-sulphide veining, biotite-calcite alteration and disseminated pyrite, along with locally visible gold and tellurides continue to be intercepted beyond the previous limits of drilling. Drilling has successfully extended R1 mineralisation towards the east by greater than 100m for a known strike length of 950m and to depths of 400m below surface, remaining open. The R5 and recently discovered veins have been traced along strike for 450m and to depths of 500m below surface, also remaining open along strike and at depth.

Frotet Regional Summer 2022 Drill Program Update

Drill targeting is currently in progress following the recently completed ground induced polarization (IP) survey at the Company's Cressida target. Approximately 2,500 meters of diamond drilling is planned for a first pass drill program at Cressida, located within the northwestern portion of the 39,365 hectare property. The Cressida target is located directly along strike and within the main mineralised corridor hosting the former producing Troilus Gold Mine, currently being explored by Troilus Gold Corp. The Cressida target is located between and along strike of Troilus Gold's Southwest Zone (2.5km to the northeast) and their recently discovered Beyan Gold Zone (3km to the southwest). Drilling at Cressida is expected to start late June and be completed by mid-July.

Figure 6. Map of Frotet Project showing regional till sampling geochemical results

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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 of Quebec. The initial 55,921 ha property was acquired through map staking in March, 2017 and optioned to Sumitomo Metal Mining Canada Ltd. ("SMMCL"), a wholly owned subsidiary of Sumitomo Metal Mining Co., Ltd. in April, 2018. Two years of property-wide systematic till sampling led to a maiden drill program in 2020 which resulted in a significant grassroots discovery at the prospect now named Regnault. The project is currently under the Joint Venture agreement between SMMCL and Kenorland Minerals Ltd., with interests being held at 80% and 20%, respectively. Under the Joint Venture, exploration is funded pro-rata and Kenorland is presently the operator of the project. Any party which does not contribute and is diluted below a 10% interest, converts its interest to an 2% uncapped net smelter royalty.

QA/QC and Core Sampling Protocols

All drill core samples were collected under the supervision of Kenorland employees. Drill core was transported from the drill platform to the logging facility where it was logged, photographed, and split by diamond saw prior to being sampled. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain-of-custody, and transported from Chibougamau to BV laboratory in Timmins, Ontario.

Sample preparation and analytical work for this drill program was carried out by Bureau Veritas Commodities ("BV"), Timmins, Ontario. Samples were prepared for analysis according to BV method PRP70-250: individual samples were crushed to 2mm (10 mesh) and a 250g split was pulverized to 75μm (200 mesh) for analysis and then assayed for Gold. Gold in samples were analyzed using BV method FA430 where a 30g split is analyzed with fire assay by Pb collection and AAS finish. Over-limits gold samples were re-analyzed using BV method FA530 where a 30g split is analyzed with fire assay by Pb collection and gravimetric finish. Multi-element geochemical analysis (45 elements) was performed on all samples using BV method MA200 where a 0.25g split is by multi-acid digest with ICP-MS/ES finish. All results passed the QAQC screening at the lab, all company inserted standards and blanks returned results that were within acceptable limits.

Qualified Person

Mr. Jan Wozniewski, B. Sc., P. Geo. (EGBC #172781, 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. (TSXV: 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 four 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 Co., Ltd., the Chicobi Project is optioned to Sumitomo Metal Mining Co., Ltd., the Chebistuan Project is optioned to Newmont Corporation, and the Hunter Project is optioned to Centerra Gold Inc. In Ontario, the Company holds the South Uchi Project under an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corporation. In Alaska, USA, the Company owns 100% of the advanced stage Tanacross porphyry Cu-Au-Mo project as well as a 70% interest in the Healy Project, held under joint venture with Newmont Corporation.

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

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

Kenorland Minerals Ltd.
Francis MacDonald
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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