Makenita Resources Applies for Drill Permit in Ontario

Rhea-AI Summary

Makenita Resources (CSE: KENY) (OTC Pink: KENYF) has submitted a drill permit application to initiate its maiden drill program at its Silver/Cobalt project in Ontario. The company expects drilling operations to commence in the upcoming weeks.

Company President Jason Gigliotti highlighted the strategic timing of the program, citing favorable conditions including the company's small float structure and rising silver prices. The project area, historically explored by Teck, has become more accessible due to forest fires clearing previously challenging terrain.

Positive

• Applied for maiden drill program permit in Ontario Silver/Cobalt project
• Improved site accessibility reducing exploration costs
• Favorable market timing with rising silver prices

Negative

• Pending regulatory approval for drill permit
• Project still in early exploration phase with no proven resources

Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - Makenita Resources Inc. (CSE: KENY) (OTC Pink: KENYF) (WKN: A40X6P) is pleased to announce that it has applied for a drill permit to commence its maiden drill program at its Silver/Cobalt project in Ontario. The company anticipates that the drill program will begin in the coming weeks.

Jason Gigliotti, President of Makenita, stated, "We are excited to kick off our maiden drill program at such an opportune time. With a small float and silver prices trending upwards, the timing couldn't be better. The area has recently become more accessible due to forest fires opening up previously difficult-to-reach areas, and we're eager to explore the potential that this historic region holds—previously a focus of Teck."

About Makenita Resources Inc.

Makenita Resources holds the rights to the highly prospective Hector Silver/Cobalt Property, which encompasses 126 contiguous unpatented mineral claims covering 2,243 hectares (5,542 acres) in the Coleman and Gillies Limit Townships, within the renowned Larder Lake Mining Division, Timiskaming District, Ontario, Canada. This project is strategically positioned in one of Canada's most exciting mineral-rich regions, offering significant potential for discovery and value creation.

Why Makenita Stands Out

With silver prices on the rise and a focused exploration strategy, Makenita is well-positioned to drive growth and exploration success. The company's targeted approach, combined with its small float and access to a high-potential project, makes it an exciting opportunity for investors seeking exposure to silver and cobalt in a thriving market.

Contact Information:

Makenita Resources Inc.
Jason Gigliotti, President, CEO and Director
Phone: 604-609-6527
Email: info@makenitaresources.com
Website: www.makenitaresources.com

Makenita Resources Inc.

"Jason Gigliotti"

Jason Gigliotti
President, Chief Executive Officer and Director

The CSE has neither approved nor disapproved of the contents of this press release.

Forward-Looking Statements

Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-Looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Makenita. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-Looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and Makenita disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248042

FAQ

When will Makenita Resources (KENYF) begin its maiden drill program in Ontario?

According to the announcement, Makenita Resources expects to begin the drill program in the coming weeks, pending permit approval.

Where is Makenita Resources' (KENYF) new drill program located?

The drill program will be conducted at Makenita's Silver/Cobalt project in Ontario, Canada.

What factors make the timing favorable for Makenita's (KENYF) drill program?

The company cites three favorable factors: a small float structure, rising silver prices, and improved site accessibility due to forest fires clearing previously difficult terrain.

Which major mining company previously explored Makenita's (KENYF) project area?

The project area was previously explored by Teck.