Kenorland Minerals - 2.55 Moz High-Grade Gold Maiden Resource & The 4% Frotet Royalty

Dec 17, 2025

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In this company update, Zach Flood, President and CEO of Kenorland Minerals (TSX-V:KLD | OTCQX:KLDCF), discusses the maiden resource at the Regnault gold deposit within the Frotet Project, Quebec.

Zach recaps the path from a 2020 grassroots discovery to a 2.55 million ounce Inferred resource at 5.47 g/t gold. We dive into the valuation of Kenorland’s unique 4% NSR royalty on the project, now 100% owned and operated by Sumitomo Metal Mining. Zach also outlines the expansion potential remaining at Regnault and provides an outlook for Kenorland’s extensive 2026 exploration pipeline.

Key Highlights: Regnault & Beyond

Maiden Resource Milestone: The inaugural estimate outlines 14.5 million tonnes at 5.47 g/t Au for 2.55 Moz of gold. This was achieved in under five years with a discovery cost of roughly $20 per ounce.
High-Value Royalty: Kenorland holds a 4% NSR royalty (with a 3.25% uncapped floor if buy-downs are exercised), considering the company’s sub-$200M CAD market cap.
Exploration Blue Sky: The system remains open in multiple directions, with 19 high-grade vein models currently excluded from the resource due to drill spacing.
Sumitomo Operatorship: With Sumitomo now at the helm, baseline engineering is underway for a potential underground exploration decline to facilitate future bulk sampling.
Aggressive 2026 Pipeline: Beyond Frotet, Kenorland is preparing for major partner-funded programs at South Uchi (with Auranova) and the Western Wabigoon and Flora projects (with Centerra Gold).

If you have any follow up questions for Zach or want more information on any project or partnership that Company has with majors please email me at Fleck@kereport.com.

Click here to visit the Kenorland website - https://www.kenorlandminerals.com/

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