Kenorland Minerals Sells Torrance Project to Neotech Metals

About this update from Kenorland Minerals Ltd.

Vancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Kenorland Minerals Ltd. (TSXV: KLD) (OTCQX: KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") is pleased to announce it has entered into a purchase and sale agreement (the "Purchase Agreement") with Neotech Metals Corp. (CSE:NTMC) ("Neotech") pursuant to which Neotech will acquire a 100% interest in 580 mining claims making up the Torrance REE Project located in Ontario (the "Project"). As consideration for the Project, Neotech will issue 1,000,000 common shares of Neotech ("Shares") to Kenorland (see terms of the Purchase Agreement below). Figure 1. Geological map showing the location of the Torrance Project in Ontario About the Torrance Project The Torrance Project is a district-scale rare earth element exploration project located in northern Ontario along the Kapuskasing Structural Zone (KSZ). Covering approximately 12,127 hectares, the Project targets alkaline-carbonatite hosted Nb-Ta-REE mineralisation and exhibits distinct ringed magnetic features comparable to known complexes along the KSZ, including the Lackner Lake Complex, the Nemegosenda Lake Complex and the Hecla-Kilmer Complex. Situated approximately 125 km north of Timmins, the Project benefits from excellent infrastructure access, including nearby road networks and power. Since staking the Project in 2022, Kenorland has reprocessed regional geophysical datasets, completed a 2,865 line-km high-resolution aeromagnetic gradiometry and VLF-EM survey that identified multiple prospective targets, and conducted limited mapping and prospecting. The Torrance Project represents a compelling grassroots exploration opportunity for the discovery of a carbonatite-hosted REE system in a favourable mining jurisdiction. Figure 2. Results with interpretation from the aeromagnetic survey at the Torrance Project illustrating ringed magnetic patterns characteristic of known alkaline-carbonatite intrusive complexes Terms of the Purchase Agreement As consideration for the Project, Neotech will issue 1,000,000 Shares to Kenorland. The Shares will be subject to a contractual lock-up for a period of 24 months following closing, during which time Kenorland has agreed not to sell, transfer, or otherwise dispose of the Shares, subject to customary exceptions including transfers to affiliates and in connection with a change of control of Neotech. Pursuant ...

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