Kenorland Minerals Ltd. Announces 2022 Summer Exploration Results from the Frotet Project

Drill Highlights:

• 22RDD136: 20.55m at 2.80 g/t Au incl. 3.50m at 10.72 g/t Au at R6 (2022 discovery)
• 22RDD141A: 20.79m at 2.78 g/t Au incl. 1.50m at 15.28 g/t Au at R7 (2022 discovery)
• 22RDD144: 2.91m at 31.52 g/t Au incl. 0.34m at 253.50 g/t Au at R5 (2022 discovery)
• 22RDD144: 1.85m at 31.75 g/t Au incl. 0.33m at 147.80 g/t Au at R6 (2022 discovery)
• 22RDD149: 29.20m at 16.61 g/t Au incl. 9.85m at 44.89 g/t Au at R1 (Metallurgical drill hole, twinned 20RDD007)

Figure 1. Plan map of Regnault drilling including highlights from the 2022 summer drill program

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Zach Flood, President and CEO of Kenorland, commented, "the summer drill programs at the Frotet Project were a great success. At Regnault we have extended the R1 system over 100m to the east, for a total of over one kilometer of strike, remaining open. We have also begun to prove continuity along the recently discovered parallel vein structures, including R5, R6, R7, and R8, located just to the south of the R1. At the Cressida Target, our maiden drill program discovered gold mineralisation over three kilometers away and along strike from Troilus Gold's Southwest Zone. We anticipate the next phase of exploration in Q1 2023 to include up to 25,000m of drilling at Regnault which will be primarily focused on additional step-outs on the R1, R5, R6, R7, and R8 veins, as well as deeper drilling to test for additional parallel vein structures."

Regnault Summer Drill Program

11,903m of diamond drilling, including 23 drill holes, was completed at the Regnault discovery. Drilling was mainly concentrated along the eastern margin of the intrusive complex targeting step-outs along the R1 shear zone, the R4 veins, and the newly discovered vein corridors to the south of R1 including the R5, R6, R7 and R8 vein sets.

Along the R1 trend, highlights include hole 22RDD143 which stepped 200m to the east of 22RDD131 (2.90m at 4.75 g/t Au*) and intersected 5.40m at 4.16 g/t Au and 1.05m at 33.37 g/t Au. Hole 22RDD143 is one the deepest and most eastern drill holes completed to date along the R1 trend. The summer drill program has extended mineralisation at R1 over 100m to the east for a known strike length of 1050m and to depths of 400m, demonstrating the potential for continued extension of high-grade mineralised structures within the east dipping Regnault diorite intrusive.

Figure 2. Cross section through R4, R1, R5, R6, R7 and R8 (220m section thickness; looking east)

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Drilling confirmed the eastern continuity of the R5, R6, R7 and R8 shear related quartz-sulphide veins hosting high grade gold mineralisation, which were first discovered during the Winter 2022 drill program. Along the R5 veins, hole 22RDD144 which stepped 200m to the east and up dip of 22RDD121 (2.50m at 7.78 g/t Au**) intersected 2.91m at 31.52 g/t Au including 0.34m at 253.50 g/t Au. Along the R6 vein, hole 22RDD136 which stepped 100m to the east and down dip of 22RDD135 (2.70m at 8.63 g/t Au including 0.44m at 37.80 g/t Au*) intersected 20.55m at 2.80 g/t Au including 3.50m at 10.72 g/t Au. Hole 22RDD144 intersected the R6 vein 70m up dip and further towards the east from 22RDD136 and returned 1.85m at 31.75 g/t Au including 0.33m at 147.80 g/t Au.

Drilling also extended known high-grade mineralisation towards the west along the R7 and R8 vein sets. Along the R7 vein, hole 22RDD141A which stepped 250m to the west of 22RDD129 (20.20m at 0.99 g/t Au**) intersected 20.79m at 2.78 g/t Au including 1.50m at 15.28 g/t Au. Drilling completed during the 2022 summer drill program along the recently discovered R5, R6, R7 and R8 vein sets extend the strike length of the mineralised structures to 600m, and to depths greater than 600m, representing the deepest significant mineralisation intersected at Regnault to date, remaining open along strike and at depth.

(* See press release dated July 11^th 2022, ** See press release dated June 13^th 2022)

Gold mineralisation along R1, R5, R6, R7 and R8 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. Oblique view of the entire Regnault system showing modelled vein zones

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Cressida Summer Drill Program

2,511m of drilling between 8 drill holes were completed at the Cressida Target area, 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 (2,700m to the northeast) and their recently discovered Beyan Gold Zone (3,000m to the southwest).

Drilling intersected widespread, disseminated to stringer and banded pyrrhotite-pyrite-trace chalcopyrite mineralisation within well foliated mafic and intermediate volcanics, associated with increased biotite-calcite alteration and quartz veinlets. Two drill holes crossed a strongly altered and mineralised mafic-felsic volcanic contact identifying a new mineralised system. Hole 22CRDD004 intersected 7.93m at 1.11 g/t Au and 1.50 g/t Ag, and hole 22CRDD007 located 330m to the southwest of 22CRDD004, intersected 8.05m at 0.94 g/t Au and 22.09 g/t Ag. These results represent a previous untested mineralised horizon within the Cressida area, which is open along strike and at depth for future exploration opportunities.

Upon completion of the Frotet 2022 summer drill program a total of 56,996m has been drilled at Regnault including the initial discovery drill program in early 2020, at Cressida 2,511m was completed during the first pass drill campaign during the 2022 summer drill program. Updating geological models and drill targeting are well underway for the upcoming 2023 winter drill program.

Figure 4. Plan map of Cressida drilling including highlights from the 2022 summer drill program

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Regnault Metallurgical Test Work

Preliminary metallurgical test work was initiated with the completion of hole 22RDD149 that twinned the Regnault discovery hole 20RDD007 (29.08m at 8.47 g/t Au including 11.13m at 18.43 g/t Au*) and intersected 29.20m at 16.61 g/t Au including 9.85m at 44.89 g/t Au. Objectives of the study will include the mineralogical characteristics and assess the preliminary Au-Ag recovery through gravity circuit and cyanide amenability of the Regnault ore. The study will be carried out at the Engineering Dept., Mineral Resources Division of Sumitomo Metal Mining Co., Ltd. Results will be communicated once the preliminary metallurgical test work has been completed.

(* See press release July 29, 2020)

Exploration Update

The Joint Venture is anticipating an upcoming 2023 winter drill program at Regnault which will include up to 25,000m of diamond drilling. This program will represent the second phase of the fiscal 2022 exploration budget (see press release dated May 3, 2022) and the largest single drill program undertaken on the Regnault discovery to date. Drill targeting will be focussed on broad step-outs to extend the strike length and depth of recently discovered vein sets to the south of the R1 vein system. Priority targets will include stepping out on the R5 veins and testing the 475m gap zone between the R2-R3 shear hosted mineralised veins and the R6-R7-R8 mineralised structures. Drilling is expected to begin late January and continue through March with four drill rigs.

Table 1. Table of results from the 2022 summer drill program

Table 2. Drill collar table of reported drill holes from the 2022 summer drill program

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.

Figure 5. Map of Frotet Project showing regional till sampling geochemical results

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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

Janek 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 four projects in Quebec where work is being completed under joint venture and earn-in agreement from third parties. The Frotet Project and Chicobi Project are held under joint venture with Sumitomo, the Chebistuan Project is optioned to Newmont Corporation and the Hunter Project is held under option 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, the Company holds the advanced stage Tanacross porphyry Cu-Au-Mo project, optioned to Antofagasta, 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
President and CEO, Director
Tel: +1 604 363 1779
zach@kenorlandminerals.com

Kenorland Minerals Ltd.
Scott Smits
Vice President of Exploration
Tel: +1 250 686 8135
scott@kenorlandminerals.com

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