Kenorland Minerals Ltd. Stock Price, News & Analysis

Kenorland Minerals (OTCQX: KLDCF) has entered into a definitive agreement with Centerra Gold's subsidiary Thompson Creek Metals for three projects in Northwestern Ontario: Flora, Western Wabigoon, and Algoman. Under the agreement, Centerra can acquire up to 70% interest through a two-stage option process.

The First Option allows Centerra to gain 51% interest by spending C$10 million in exploration within three years, including C$3.5 million in the first year and completing 10,000 meters of diamond drilling. The Second Option enables an additional 19% interest by completing a Preliminary Economic Assessment with a minimum 1 million ounce gold equivalent resource within seven years.

Kenorland will retain a 30% free-carried interest through to the completion of a Preliminary Feasibility Study and will serve as the initial operator during the First Option period, receiving a 15% management fee.

Kenorland Minerals reported exceptional drilling results from its 2025 winter program at the Frotet Project in Quebec, where it holds a 4% NSR royalty. The program completed 34 holes totaling 22,913 meters, with results from 21 holes (14,048 meters) showing multiple high-grade gold intercepts. Notable highlights include 30.41 g/t Au over 6.70m from hole 25RDD252, including 72.56 g/t Au over 2.75m at the R11 vein, and an impressive 218.10 g/t Au over 1.30m from hole 25RDD239, including 705.40 g/t Au over 0.40m at R2. The drilling program successfully demonstrated system continuity through step-out drilling, with mineralization remaining open along strike and at depth, particularly in the deep portions of the R10 and R11 structures down to 1,050m below surface.

Kenorland Minerals (KLDCF) has successfully completed the acquisition of a 100% interest in mineral claims covering 31,052 hectares adjacent to the Atlantic Project in New Brunswick. The transaction, executed through a purchase and sale agreement dated May 26, 2025, with a private British Columbia company, involved issuing 118,425 common shares at $1.473 per share and granting a 0.5% net smelter return royalty. The issued shares will be subject to a statutory hold period until October 11, 2025, in compliance with securities legislation and TSXV policies.

Kenorland Minerals (OTCQX: KLDCF) has significantly expanded its exploration portfolio through strategic acquisitions in Ontario and New Brunswick. The company has staked 125,430 hectares of mineral claims in the Onaman-Tashota Greenstone Belt (Kowkash Project) in Northern Ontario and 119,779 hectares in Central New Brunswick (Atlantic Project). Additionally, through a purchase agreement dated May 26, 2025, Kenorland acquired a 100% interest in 31,052 hectares of mineral claims adjacent to the Atlantic Project from a private BC company.

The expansion aligns with Kenorland's strategy to explore underexplored yet promising regions of Canada, as stated by CEO Zach Flood, who emphasized the company's systematic approach to generating and advancing new discoveries amid growing demand for quality grassroots opportunities.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has completed a top-up right exercise with Sumitomo Metal Mining Canada and Centerra Gold. The transaction involved issuing 209,054 common shares at $1.533 per share, raising total proceeds of $320,479.78. This allows Sumitomo and Centerra to maintain their respective 10.1% and 9.9% ownership stakes in Kenorland.

The issued shares are subject to a statutory hold period until September 10, 2025. As Sumitomo owns over 10% of Kenorland's shares, the transaction qualified as a "related party transaction" under MI 61-101, though exemptions from formal valuation and minority shareholder approval were applied as the transaction value was below 25% of Kenorland's market capitalization.

Kenorland Minerals (OTCQX: KLDCF) and Auranova Resources have completed their 2025 Winter drill program at the South Uchi Project in Ontario's Red Lake District. The maiden drilling campaign consisted of 27 diamond drill holes totaling 14,363 metres, focusing on the Papaonga target across an 8km by 3km area. The program targeted gold-in-till and heavy mineral concentrate anomalies, with drilling spaced 500m to 1km apart. Multiple mineralization types were encountered, including quartz stockwork systems, multi-stage veining, and sulphide mineralization with trace visible gold. While mineralization was observed, the company notes this doesn't necessarily indicate economically significant gold grades. Complete assay results are expected in late Q2 or early Q3 2025. The company plans to maintain camp infrastructure for a potential summer drill program.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has announced that both Sumitomo Metal Mining Canada and Centerra Gold will exercise their 'top-up rights' to maintain their respective ownership stakes in the company.

The company will issue a total of 209,054 common shares at $1.533 per share, raising aggregate consideration of $320,479.78, subject to TSX Venture Exchange approval. Specifically, 105,572 shares will be issued to Sumitomo to maintain its 10.1% interest, while 103,482 shares will go to Centerra to retain its 9.9% stake.

These actions are being taken in accordance with the Sumitomo Investor Rights Agreement (dated November 5, 2021) and the Centerra Investor Rights Agreement (dated May 28, 2024).

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has received TSXV approval for a new normal course issuer bid (NCIB), effective April 10, 2025, to April 9, 2026. The company can purchase up to 3,875,552 common shares, representing 5% of outstanding shares as of March 31, 2025, with a 30-day limit of 1,550,221 shares (2% of outstanding).

Purchases will be made through TSXV or alternative Canadian trading systems at prevailing market prices, with all shares being cancelled. Haywood Securities Inc. will act as the broker. The Board believes the current share price may not reflect the company's underlying value and considers the share buyback an appropriate use of financial resources that will benefit continuing shareholders by increasing their equity interest.

Kenorland Minerals (TSXV: KLD) (OTCQX: KLDCF) has launched its maiden diamond drill program at the Hunter Project in Quebec's southern Abitibi greenstone belt, operated under an option agreement with Centerra Gold. The Winter 2025 exploration program includes up to 4,300m of diamond drilling, targeting areas identified through systematic exploration since 2021.

The project revealed a significant multielement Au-Cu-Mo-Ag-W-Bi geochemical anomaly through drill-for-till sonic drilling in 2022 and 2024, spanning a 3.5 by 2.0 kilometre footprint. The target area's geology features felsic volcanic rocks intruded by felsic-intermediate porphyritic rocks, with widespread silica-epidote-sericite±K-feldspar alteration and sulphide mineralization including pyrite, chalcopyrite, and molybdenite.

The mineralization is interpreted as intrusion-related, potentially syn-volcanic or similar to the Duparquet gold deposit located 6.5 kilometres south. The drilling program is expected to conclude in early April 2025.