Vancouver, British Columbia--(Newsfile Corp. - October 7, 2026) - Auranova Resources Inc. (TSXV: AURA) ("Auranova" or the "Company") and Kenorland Minerals Ltd. ("Kenorland") are pleased to announce the commencement of the 2026 fall (phase 4) diamond drill program at the South Uchi Project (the "Project"), located in the Red Lake District of Ontario. The program will comprise approximately 5,000 metres of diamond drilling focused on the North Papa trend within the Papaonga target area, where phase 3 drilling confirmed significant broad zones of gold mineralisation (see press release dated June 17, 2026). Drilling will follow-up on previous mineralised intercepts and test chargeability and resistivity anomalies defined by this summer's induced polarisation (IP) survey.

Figure 1. Plan map of Papaonga with planned Phase 4 drill hole locations along the North Papa trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9342/317464_80da5348b47dc924_001full.jpg

Phase 4 Drill Program

The program will follow-up on hole 26PADD046, testing along strike as well as step-out at depth, building on mineralised intercepts reported from the phases 2 and 3 drill campaigns along the North Papa trend (see press releases dated January 28, 2026 and June 17, 2026). Previous drilling was completed along widely-spaced fences roughly 500 m apart along the North Papa trend. The planned drill holes are designed as modest step-outs along strike from 26PADD046, and at depth to better define geometries of the approximately 200-metre-wide mineralised corridor and possibly identify higher-grade portions of the system through understanding the structural and geological controls.

The North Papa trend is defined by a gold-mineralised quartz feldspar porphyry hosted by a regional east-west trending, belt-parallel deformation zone. Drill hole 26PADD046 intersected multiple broad zones of gold mineralisation returning 14.00 m at 0.28 g/t Au, 65.45 m at 0.34 g/t Au including 21.00 m at 0.58 g/t Au, and 35.65 m at 0.31 g/t Au. Mineralisation is hosted within both felsic and mafic volcanic rocks, associated with strong deformation, pervasive silica-sericite±albite alteration and disseminated to stringer style sulphides.

Drilling has also been designed to test mineralisation related to the tholeiitic to calc-alkaline volcanic contact that includes 26PADD046 with 7.70 m at 1.13 g/t Au including 1.00 m at 7.07 g/t Au, and 26PADD043 (located 500 m to the east) that returned 3.75 m at 3.65 g/t Au including 1.45 m at 9.09 g/t Au. The mafic volcanic hosted gold mineralisation is accompanied by silica-sericite alteration, quartz-carbonate veining, and pyrite-pyrrhotite mineralisation.

Kenorland remains operator of the project, with drilling activities expected to be completed by mid November.

About South Uchi Project

The South Uchi Project was first identified and staked by Kenorland based on the under-explored region's prospectivity to host significant gold mineralised systems. 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. Multiple major east-west striking deformation zones associated with the subprovince boundary transect the Project, resulting in zones of strong shearing and folding of the supracrustal stratigraphy, which are favourable settings for orogenic gold mineralisation. Prior to Kenorland staking the Project, records indicated little to no systematic exploration had been completed, and the land package remained under-explored. The majority of gold deposits in the Red Lake District (Red Lake, Madsen, Hasaga, and others) are located on the northern margin of the Confederation Assemblage. However, recent discoveries such as the LP Fault Zone on the Dixie Project by Great Bear Resources Ltd. (acquired by Kinross Gold and renamed Great Bear Project) highlight the prospectivity of the entire Confederation Assemblage along the southern margin of the Uchi subprovince.

Auranova to date has spent over C$15 million in qualifying expenditures and will earn a 70% interest in South Uchi once phase 4 drilling has been completed.

Figure 2. Regional volcanic assemblages with significant gold deposits and South Uchi Project location

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9342/317464_80da5348b47dc924_002full.jpg

¹ 32.9 million tonnes of Measured and Indicated mineral resources at a grade of 2.7 g/t Au (2.8 Moz Au). 22.7 million tonnes of Inferred mineral resources at a grade of 4.5 g/t Au (3.3 Moz Au). Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Company's property. Source: 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

Qualified Persons

William Yeomans, B.Sc., P.Geo. (EGBC #027187, PGO #2177), an independent "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Auranova Resources

Auranova Resources Inc. (TSXV: AURA) is an explorer of precious metal projects in the highly prospective Red Lake region of Ontario. The Company is focused on the discovery of new gold systems in the Birch Uchi Belt in partnership with Kenorland Minerals Ltd., as well as expanding its presence in the greenstone belts of Ontario.

Further information can be found on the Company's website www.auranovaresources.com.

On behalf of the Board of Directors of Auranova Resources Inc.,

Cautionary Statement Regarding Forward-Looking Statements

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. Mineralisation on adjacent or nearby properties is not necessarily indicative of mineralisation on the Company's property. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317464

Source: Auranova Resources Inc.