Vancouver, British Columbia--(Newsfile Corp. - December 31, 2024) - Auranova Resources Inc. (the "Company") is pleased to announce that it has closed a non-brokered private placement through the issuance of 14,096,667 flow-through units (each, a "FT Unit") at a price of $0.30 per FT Unit for aggregate gross proceeds of $4,229,000.10 (the "Offering"). Each FT Unit consists of one common share of the Company issued on a "flow-through" basis (each, a "FT Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each FT Share and each one-half of a Warrant comprising part of the FT Unit shall qualify as a "flow-through share" as defined in subsection 66(15) of the Income Tax Act (Canada). Each Warrant shall entitle the holder thereof to purchase one common share in the capital of the Company (each, a "Common Share") at a price of $0.50 per Common Share until the date that is eighteen (18) months from the closing of the Offering provided that, should the daily volume weighted average closing price (or closing bid price on trading days when there are no trades) at which the Common Shares trade on a stock exchange or quotation and trade reporting system is at least $0.60 for twenty (20) consecutive trading days, the Company may accelerate the expiry of the Warrants such that the Warrants expire on the date that is ten (10) days following the date that an acceleration notice is delivered to the holder of the Warrant.

The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada). All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

In connection with the closing of the Offering, Timothy A. Young acquired an aggregate of 4,750,000 FT Units of the Company. Prior to the completion of the Offering, Mr. Young beneficially owned and controlled and aggregate of 4,404,234 Common Shares in the capital of the Company, representing approximately 27.35% of the Company's issued and outstanding Common Shares on a non-diluted basis. Upon completion of the Offering, Mr. Young beneficially owns and controls an aggregate of 9,154,234 Common Shares in the capital of the Company and 2,375,000 Warrants, representing approximately 30.31% of the Company's issued and outstanding Common Shares on a non-diluted basis and approximately 35.39% on a partially diluted basis. Mr. Young may, depending on market and other conditions, or as future circumstances may dictate, increase or decrease some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.

The disclosure in this news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the filing of the Report on the Company's SEDAR+ profile at www.sedarplus.ca. A copy of the Report can be obtained by contacting Mr. Young at (403) 988-5556.

In connection with the closing of the Offering, William A. Rand acquired an aggregate of 1,800,000 FT Units of the Company. Prior to the completion of the Offering, Mr. Rand beneficially owned and controlled and aggregate of 900,000 Common Shares in the capital of the Company, representing approximately 5.59% of the Company's issued and outstanding Common Shares on a non-diluted basis. Upon completion of the Offering, Mr. Rand beneficially owns and controls an aggregate of 2,700,000 Common Shares in the capital of the Company and 900,000 Warrants, representing approximately 8.94% of the Company's issued and outstanding Common Shares on a non-diluted basis and approximately 11.58% on a partially basis. Mr. Rand may, depending on market and other conditions, or as future circumstances may dictate, increase or decrease some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.

The disclosure in this news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the filing of the Report on the Company's SEDAR+ profile at www.sedarplus.ca. A copy of the Report can be obtained by contacting Mr. Rand at 604-512-4164.

The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as insiders of the Company subscribed for an aggregate of 7,450,000 FT Units pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

Thomas Obradovich
Chief Executive Officer
Tel: (416) 985-7140

Caution Regarding Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE: Auranova Resources Inc.

Vancouver, British Columbia--(Newsfile Corp. - December 17, 2024) - Auranova Resources Inc. (the "Company") is pleased to announce the appointment of William A. Rand as Non-Executive Chairman of the Company. In addition, Mr. Rand has been appointed to the Company's board of directors. Mr. Rand received a Bachelor of Commerce degree (Honours Economics) from McGill University, a law degree from Dalhousie University, a Master of Laws degree in international law from the London School of Economics and a Doctor of Laws honoris causa from Dalhousie University. Mr. Rand practiced securities law in Vancouver, British Columbia for nearly 25 years before retiring in October of 1992 to establish what is now Rand Investments Ltd., an investment, venture capital company.

In addition, the Company announces that it has closed a non-brokered private placement through the issuance of 7,000,000 common shares (each, a "Common Share") at a price of $0.12 per Common Share for aggregate gross proceeds of $840,000 (the "Offering").

All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as insiders of the Company subscribed for an aggregate of 2,783,333 Common Shares pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by insiders does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

Thomas Obradovich
Chief Executive Officer
Tel: (416) 985-7140

Caution Regarding Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE: Auranova Resources Inc.

Vancouver, British Columbia--(Newsfile Corp. - December 4, 2024) - Auranova Resources Inc. (the "Company") announces that it has settled an aggregate of $159,760.98 of indebtedness owed to certain arm's length and non-arm's length creditors through the issuance of an aggregate of 8,200,001 common shares (each, a "Common Share") in the capital of the Company at a price of $0.019483045 per Common Share (the "Debt Settlement"). All Common Shares issued in connection with the Debt Settlement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

In connection with the closing of the Debt Settlement, Chris Irwin, through 2673954 Ontario Inc. and Irwin Professional Corporation, corporations beneficially owned and controlled by Mr. Irwin, acquired an aggregate of 5,044,769 Common Shares in the capital of the Company. Prior to the completion of the Debt Settlement, Mr. Irwin beneficially owned and controlled and aggregate of 816,657 Common Shares in the capital of the Company, representing approximately 90.38% of the Company's issued and outstanding Common Shares on a non-diluted basis. Upon completion of the Debt Settlement, Mr. Irwin beneficially owns and controls an aggregate of 5,861,426 Common Shares in the capital of the Company, representing approximately 64.39% of the Company's issued and outstanding Common Shares on a non-diluted basis. Mr. Irwin has an intention to distribute a majority of the Common Shares he holds at a later date, pursuant to private transactions. Thereafter, Mr. Irwin may, depending on market and other conditions, or as future circumstances may dictate, increase or decrease some or all of the existing or additional securities he holds or will hold, or may continue to hold the balance of his current position.

The disclosure in this news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report on the Company's SEDAR+ profile at www.sedarplus.ca. A copy of the early warning report can be obtained by contacting Mr. Irwin at (416) 361-2516 (217 Queen Street West, Suite 401, Toronto, Ontario M5V 0R2).

In connection with the closing of the Debt Settlement, Albert Contardi, through Generic Capital Corporation, a corporation beneficially owned and controlled by Mr. Contardi, acquired an aggregate of 2,438,019 Common Shares in the capital of the Company. Prior to the completion of the Debt Settlement, Mr. Contardi beneficially owned and controlled 666 Common Shares in the capital of the Company, representing approximately 0.07% of the Company's issued and outstanding Common Shares on a non-diluted basis. Upon completion of the Debt Settlement, Mr. Contardi beneficially owns and controls an aggregate of 2,438,685 Common Shares in the capital of the Company, representing approximately 26.79% of the Company's issued and outstanding Common Shares on a non-diluted basis. Mr. Contardi has an intention to distribute a majority of the Common Shares he holds at a later date, pursuant to private transactions. Thereafter, Mr. Contardi may, depending on market and other conditions, or as future circumstances may dictate, increase or decrease some or all of the existing or additional securities he holds or will hold, or may continue to hold the balance of his current position.

The disclosure in this news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers in connection with the filing of an early warning report on the Company's SEDAR+ profile at www.sedarplus.ca. A copy of the early warning report can be obtained by contacting Mr. Contardi at (416) 361-2832 (217 Queen Street West, Suite 401, Toronto, Ontario M5V 0R2).

The Debt Settlement constituted a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as 2673954 Ontario Inc., an insider of the Company that is controlled by Chris Irwin, acquired an aggregate of 4,829,607 Common Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(e) of MI 61-101, as the Company is not listed on a specified market and (i) the Company is in serious financial difficulty; (ii) the Debt Settlement will improve the Company's financial position; (iii) the Debt Settlement is not subject to court approval or undertaken under court order under bankruptcy or insolvency law (or the equivalent); (iv) the Company has three (3) directors of the Company, all of which are independent in respect of the Debt Settlement; and (v) the board of directors, acting in good faith, determined that the Company is in serious financial difficulty and the terms of the Debt Settlement are reasonable in the Company's circumstances. The board of directors determined in good faith the price per Common Share issued pursuant to the Debt Settlement represents the fair market value of the Common Shares. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Debt Settlement because the Company wanted to improve its financial position as expeditiously as possible.

For further information, please contact:

Thomas Obradovich
Chief Executive Officer
Tel: (416) 985-7140

Caution Regarding Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE: Auranova Resources Inc.

Vancouver, British Columbia--(Newsfile Corp. - December 2, 2024) - Auranova Resources Inc. (the "Company") is pleased to announce that it has entered into a definitive agreement (the "Agreement") with Kenorland Minerals Ltd. ("Kenorland"), pursuant to which Kenorland has agreed to grant to the Company the right to acquire up to a 70% interest in the South Uchi Project (the "Project"), located in the Red Lake District of Northwestern Ontario.

Highlights

• 90 kilometre long (871.37 square kilometre) major claim package covering greenstones of the Uchi subprovince 45 kilometres east of Kinross Gold Corp. ("Kinross")'s Great Bear project.

• Barrick Gold Corporation ("Barrick") had the South Uchi Project under option until January 2023 after spending $5.5 million on regional exploration between January 2021 and January 2023.

• Kenorland spent a total of $2,776,000 in three programs consisting of regional studies, till sampling, prospecting and mapping during the field seasons of 2020, 2023 and 2024.

• Major gold-in-till targets including high gold grain counts and pristine gold grains were identified as a result of Barrick and Kenorland's work.

• Bedrock samples from 2024 have returned values up to 13.35 g/t gold in sheared, sulphide rich iron formation proximal to the centre of the Papaonga gold-in-till target. These samples suggest potential for "Musselwhite" style gold mineralization, but additional prospecting and drilling are required to confirm this model.

• To date there has been no drilling on any of the targets identified by Barrick or Kenorland.

• Auranova is raising $8 million to execute a 15,000 metre drill program, which will earn a 51% interest in the South Uchi Project. This can be increased to a 70% interest through subsequent additional work and consideration as described below.

• The area of the gold-in-till and bedrock targets is expected to be connected to a local logging road network for the first time by ongoing forestry activity starting in 2025.

Figure 1: Regional topography with South Uchi Project claims and local gold deposits with resources of over 5 million ounces. infrastructure and communities are also shown.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9342/232133_29c0cb0534a37ae3_002full.jpg

1. Kinross reports 2023 fourth-quarter and full-year results: (Date February 14, 2024) - Updated resource to the technical report titled Great Bear Project Ontario, Canada prepared by Nicos Pfeiffer, P.Geo., John Sims, CPG, Yves Breau, P.Eng., Rick Greenwood, P.Geo., Agung Prawasono, P.Eng., issued February 13, 2023

2. Red Lake Historical Au Production https://en.wikipedia.org/wiki/Red_Lake_Mine

3. Red Lake Evolution Mining https://evolutionmining.com.au/red-lake/

4. First Mining Gold - Springpole Au Project https://firstmininggold.com/projects/tier-1/springpole-project/

The Q.P. has not verified these historical and currently reported resource values which are subject to change during the course of exploration, drilling and mining development.

Figure 2: Regional greenstone belts with South Uchi Project claims and local gold deposits with resources of over 5 million ounces. Local infrastructure and communities are also shown.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9342/232133_29c0cb0534a37ae3_003full.jpg

Option Agreement

Under the terms of the Agreement, the Company may acquire an initial 51% interest in the Project (the "First Option") by fulfilling the following conditions:

• Pay $250,000 within two days of the signing of the Option Agreement

• Pay an additional $250,000 upon receiving the Drilling Permit.

• Complete at least 15,000 metres of diamond drilling or incur $8,000,000 in Qualifying Expenditures on or before the second anniversary of the Drilling Permit issuance.

• Issue to Kenorland common shares of the Company representing a 19.9% equity interest upon receiving the Drilling Permit.

• Grant Kenorland the right to receive additional common shares, for no additional consideration, to maintain a 19.9% equity ownership until the Company issues common shares having a minimum value of $10,000,000 through future offerings and other issuances.

• Enter into an Investor Rights Agreement granting Kenorland the right, for so long as Kenorland holds a 7.5% interest in the Company, to: (i) participate in equity financings and top up its holdings in relation to dilutive issuances in order to maintain its prorate interest in the time of such financing; and (ii) nominate one person to the board of directors of the company.

• Kenorland shall act as operator pursuant to an Operators Service Agreement during the First Option period in exchange for a management fee equal to 15% of total Qualifying Expenditures. The management fee, signing and drill permit payments will count as Qualifying Expenditures.

Second Option: Acquiring an Additional 19% Interest

If the Company exercises the First Option, it will have the right to acquire an additional 19% interest in the Project (the "Second Option"), for an aggregate 70% interest, by incurring an additional $10,000,000 in Qualifying Expenditures on the Project on or before the third anniversary of the Company's election to proceed with the Second Option. If the Company does not exercise the Second Option, it will transfer a 2% interest back to Kenorland, resulting in Kenorland holding a 51% interest and the Company holding a 49% interest under a joint venture agreement.

Preliminary Economic Assessment and Free-Carried Interest

The Company has agreed to undertake commercially reasonable efforts to complete a Preliminary Economic Assessment ("PEA") on the Project, demonstrating at least 1,000,000 ounces of gold equivalents in any category of mineral resource, in accordance with National Instrument 43-101 - Standards of disclosure for Mineral Projects, during or after the Option period. If the PEA is completed after the Second Option, the Company will hold a 70% interest in the Project, and Kenorland will retain a 30% free-carried interest until the completion of the PEA. Kenorland will also have the right to receive common shares of the Company, exclusive of any shares disposed of by Kenorland, for no additional consideration, to be issued a minimum 10% equity ownership in the Company from the election to exercise the Second Option until the PEA is delivered.

South Uchi Geologic Summary

Multiple major east-west striking shear zones associated with the subprovince boundary between the volcanic-dominated Uchi geological subprovince to the north and the sedimentary-dominated English River geological subprovince to the south transect the Project along its 90 kilometre strike-length. The regional, east-west striking deformation zones have strongly deformed the underlying Confederation Assemblage volcanic rocks, a similar geologic setting to Kinross' Great Bear Project, located 45 kilometers along strike to the west. Deformation associated with these structures has resulted in zones of strong shearing, alteration, and folding of the metavolcanic-clastic metasedimentary-iron formation stratigraphy. Gold mineralisation is hosted within intrusive, sedimentary and volcanic rock types associated with penetrative fabrics, quartz-sulphide veining, disseminated sulphides and variable alteration assemblages. Systematic, regional geochemical sampling surveys completed between 2021 and 2023 defined two large scale, coherent gold-in-till anomalies (see Kenorland press release dated February 28, 2024); the Papaonga target (Au-Ag-Te-W±As-Sb) and Target B (Au-Te-W±Ag) areas.

Figure 3. South Uchi Project regional glacial till sampling gold geochemistry (2021-2023)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9342/232133_29c0cb0534a37ae3_004full.jpg

Papaonga Target Area Summary

The Papaonga target is a large gold-in-till and heavy mineral concentrate (HMC) gold grain anomaly, covering approximately 5 kilometres of east-west strike length and 8 kilometres along the interpreted southwest ice flow direction. It is highlighted by newly discovered bedrock gold mineralization during the 2024 summer exploration program (see Kenorland press release dated September 11, 2024). The underlying geology is within the interpreted eastern pressure shadow of an interpreted early (pre to syn-tectonic) diorite pluton bounded by regional first order, major east-west trending deformation zones to the north and south. Northeast-trending, second-order structures have intensely deformed, folded, and offset a geologically complex stratigraphy consisting of clastic sedimentary rocks intercalated with iron formations and polymictic conglomerates, calc-alkaline mafic volcanics, and tholeiitic mafic volcanics. Multi-phase deformation has produced strong penetrative fabrics within all rock types (intrusive, sedimentary and volcanic rocks) associated with sericite, Fe-carbonate, chlorite, and calcite alteration.

During the 2024 summer field season, Kenorland conducted a HMC till sampling survey, mapping, and prospecting program at the Papaonga target area. The program focused on identifying bedrock sources of gold-in-till dispersal plumes outlined in the 2023 exploration campaign. The HMC till sampling returned strong gold grain counts, including a peak of 951 total gold grains, 91% of which were pristine, coinciding with the previously identified fine fraction gold-in-till anomaly. Prospecting efforts identified widespread gold and silver mineralization in outcrop, with rock sampling assay results of up to 13.35 g/t Au and 60.4 g/t Ag. The prospecting campaign identified widespread gold mineralisation across the Papaonga target area, associated with northeast-trending shear zones and multiple lithologies. These include diorite plutons, clastic sedimentary rocks, and mafic volcanic rocks, each showing evidence of long-lived, overprinting hydrothermal alteration systems. The results further confirm the potential of the Papaonga target as a significant, previously unrecognized gold system.

Figure 4. Papaonga target and Target B geology, till geochemistry, gold grain counts and rock geochemistry. For more information see Kenorland news release of September 11, 2024.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9342/232133_29c0cb0534a37ae3_005full.jpg

About the South Uchi Project

The South Uchi Project was first identified and staked by Kenorland based on the region's prospectivity to host significant gold mineralised systems. The South Uchi Project is located 45 to the east of the Great Bear property which was sold to Kinross in February 2022 for $1.8 billion. Kenorland staked the project in April 2021 and spent $500,000 before optioning it to Barrick Gold in September 2021. Barrick subsequently spent an additional $6 million on the property before dropping the option in January 2023. Kenorland spent a further $500,000 for a total Property expenditure of $7 million. The South Uchi property has never been drilled and Auronova can earn 51% for $8 million in Qualified Expenditures. The Project covers a portion of Confederation Assemblage volcanic rocks, as well as the boundary between the Uchi geological subprovince to the north and the English River geological subprovince to the south.

Kenorland holds a 2% net smelter return royalty on the Project (see press release dated September 16, 2024).

Qualified Person

William Yeomans, P.Geo., a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release. Mr. Yeomans is a gold exploration professional with over 40 years of experience in all stages of gold exploration throughout the Americas, including the Superior Province throughout Quebec and Ontario. He gained extensive exploration management experience across the entire Guiana Shield with BHP and has generated projects which resulted with significant NI-43-101 gold resources. He has worked as a consultant to IAMGOLD and Dundee Precious Metals Inc., identifying acquisition opportunities across Canada, the USA and South America. He is currently the President of Yeomans Geological Inc. as well as 1127637 B.C. Ltd. and has many years of experience as a board member for several junior mining companies.

About Auranova Resources Inc.

The Company is an unlisted reporting issuer in the Provinces of British Columbia, Alberta, Saskatchewan and Manitoba. Its directors and major shareholders are Thomas Obradovich, Chris Taylor and Timothy Young. Auranova is in the process of completing a financing consisting of hard dollars and flow through shares for phase one exploration and general working capital on the Papaonga Target.

About Kenorland Minerals Ltd.

Kenorland Minerals Ltd. (TSXV: KLD) is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. Kenorland's exploration strategy is to advance greenfields projects through systematic, property-wide, phased exploration surveys financed primarily through exploration partnerships including option to joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec which is owned by Sumitomo Metal Mining Canada Ltd. The Frotet Project hosts the Regnault gold system, a greenfields discovery made by Kenorland and Sumitomo Metal Mining Canada Ltd. in 2020. Kenorland is based in Vancouver, British Columbia, Canada.

For further information, please contact:

Thomas Obradovich
Chief Executive Officer
Tel: (416) 985-7140

Caution Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE: Auranova Resources Inc.