Kenorland Announces Follow-Up Drill Program and Commencement of Phase 2 Earn-In by Newmont Corporation at the Chebistuan Project

Core Viewpoint - Kenorland Minerals Ltd. is advancing its exploration efforts at the Chebistuan Project in Quebec, with a winter 2025 drill program planned and Newmont Corporation entering Phase 2 of their earn-in agreement to potentially increase its interest in the project to 80% [2][3][8]. Drill Program Details - The winter 2025 drill program will involve up to 3,500 meters of drilling at the Deux Orignaux target area, following up on previous drilling results that included 157.20 meters at 0.41 g/t Au [4][6]. - The program aims to test the lateral and down-dip extents of mineralized syenite and additional targets identified through geophysical surveys [4][5]. Phase 2 Earn-In Agreement - Newmont is required to make a one-time cash payment of C$200,000 and incur additional qualifying expenditures to define a 1.5 million ounces gold resource through a pre-feasibility study within six years [7][11]. - Upon completion of the Phase 2 Earn-In, Newmont's interest will increase from 51% to 80%, while Kenorland's interest will decrease from 49% to 20% [8][11]. Project Background - The Chebistuan Project covers approximately 100 kilometers of a major deformation zone and is located near significant gold deposits, with historical production of over 6.5 million ounces of gold and 1.6 billion pounds of copper in nearby mining camps [9][10]. - The project was acquired by Kenorland through map staking in December 2019 and optioned to Newmont in July 2020, with systematic exploration efforts ongoing since then [9][11].