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Kenorland Closes Atlantic Project Acquisition and Receives Notice of Exercise of Top-Up Right from Sumitomo and Centerra
Vancouver, British Columbia--(Newsfile Corp. - June 13, 2025) - Kenorland Minerals Ltd. (TSXV: ...
About this update from Kenorland Minerals Ltd.
[{"type":"text","content":"Kenorland Closes Atlantic Project Acquisition and Receives Notice of Exercise of Top-Up Right from Sumitomo and CenterraVancouver, British Columbia--(Newsfile Corp. - June 13, 2025) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) (\"Kenorland\" or the \"Company\") is pleased to announce that it has completed the acquisition of a 100% interest in 31,052 hectares of mineral claims contiguous to the Atlantic Project (the \"Project\") in New Brunswick. The acquisition was completed pursuant to a purchase and sale agreement dated May 26, 2025 with a private British Columbia company, under which Kenorland has issued 118,425 common shares of the Company (the \"Shares\") at a deemed price of $1.473 per Share and granted a 0.5% net smelter return royalty on the claims forming the Project. The Shares issuable in the private placement are subject to a statutory hold period in accordance with applicable securities legislation and the rules and policies of the TSXV expiring on October 11, 2025.About the Atlantic ProjectThe 150,831-hectare Atlantic Project is situated within the northern Appalachian orogen of western New Brunswick, covering a highly prospective segment of the Gander and Dunnage zones-recognized for hosting a variety of gold and polymetallic deposits. The project area encompasses a diverse assemblage of Silurian to Devonian volcanic, volcaniclastic, and sedimentary rocks intruded by felsic to mafic plutons. This setting is prospective for epithermal, VHMS and intrusion related mineralisation styles hosting significant Au, Ag, Pb, Zn, and Cu. Key mineralised showings in the project area include the Williams Brook epithermal, Costigan Mountain epithermal, Sewell Brook VHMS, and Lewis Brook epithermal deposits. These occur within favorable structural corridors and lithologic contacts of the Tobique-Chaleur metallogenic belt, an emerging and active exploration district. The Atlantic Project area has seen limited historical work, presenting a unique opportunity for discovery through modern, systematic exploration approaches.Notice of Exercise of Top-up RightKenorland also announces that, further to the investor rights agreement dated November 5, 2021 (the \"Sumitomo IRA\") between the Company and Sumitomo Metal Mining Canada Ltd. (\"Sumitomo\") and the investor rights agreement dated May 28, 2024 (the \"Centerra IR...