Announcement • Oct 02
Gold X2 Mining Inc. (TSXV:AUXX) signed a definitive agreement to acquire Kesselrun Resources Ltd. (TSXV:KES) from 1832 Asset Management L.P. for CAD 12.4 million. Gold X2 Mining Inc. (TSXV:AUXX) signed a definitive agreement to acquire Kesselrun Resources Ltd. (TSXV:KES) from 1832 Asset Management L.P. for CAD 12.4 million on September 30, 2025. The consideration consists of common equity of Gold X2 Mining Inc. at a ratio of 0.2152 per common equity of Kesselrun Resources Ltd. A cash consideration of CAD 0.02 million will be paid by Gold X2 Mining Inc. As part of consideration CAD 2 million is paid to certain creditors of Kesselrun Resources Ltd. Gold X2 has also agreed to provide Kesselrun with an interest-free bridge loan in the principal amount of CAD 0.5. Following completion of the Transaction, existing Kesselrun shareholders will own approximately 4.13% of the total issued and outstanding share capital of Gold X2.
The transaction is subject to approval by TSXV, approval of offer by target shareholders and subject to court approval. The deal has been approved by the board. The Transaction is anticipated to be completed on or about November 27, 2025.
DuMoulin Black LLP acted as legal advisor for Gold X2 Mining Inc. Morton Law LLP acted as legal advisor for Kesselrun Resources Ltd. Evans & Evans, Inc. acted as fairness opinion provider for Kesselrun Resources Ltd. New Risk • Aug 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 7.1% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.70m market cap, or US$3.41m). New Risk • Jun 25
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$763k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$763k free cash flow). Earnings have declined by 7.1% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.17m market cap, or US$3.77m). Minor Risk Share price has been volatile over the past 3 months (18% average weekly change). New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings have declined by 2.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 2.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$3.29m market cap, or US$2.35m). Announcement • Oct 07
Kesselrun Resources Ltd., Annual General Meeting, Dec 03, 2024 Kesselrun Resources Ltd., Annual General Meeting, Dec 03, 2024. Location: ontario, thunder bay Canada Announcement • Sep 30
Kesselrun Resources Ltd., Annual General Meeting, Nov 28, 2023 Kesselrun Resources Ltd., Annual General Meeting, Nov 28, 2023. Announcement • Sep 20
Kesselrun Resources Ltd. to Receive CAD 200,000 Grant from the Ontario Junior Exploration Program Kesselrun Resources Ltd. announced that it has been selected to receive up to CAD 200,000 from the Ontario Government's Junior Exploration Program ("OJEP") which will be used to fund geophysical and geological surveys of the 100% owned 9,100 hectare Bluffpoint Gold Project located approximately 50 kilometres northeast of New Gold's Rainy River Gold Mine. Price Target Changed • Sep 01
Price target decreased by 11% to CA$0.40 Down from CA$0.45, the current price target is provided by 1 analyst. New target price is 1,233% above last closing price of CA$0.03. Stock is down 25% over the past year. The company posted a net loss per share of CA$0.0018 last year. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 4 highly experienced directors. Independent Director Yana Silina was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.5m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.81m market cap, or US$2.12m). Price Target Changed • May 05
Price target decreased by 11% to CA$0.40 Down from CA$0.45, the current price target is provided by 1 analyst. New target price is 789% above last closing price of CA$0.045. Stock is down 36% over the past year. The company posted a net loss per share of CA$0.0018 last year. Announcement • Feb 10
Kesselrun Resources Ltd. Announces Final Drill Results from 2022 Drilling and Southern Geophysical Targeting Kesselrun Resources Ltd. provided the final drill results from the 2022 drilling as well as preliminary geophysical interpretations. Eight of the final eleven holes were drilled in the southern portion of the project area, on strike from the adjacent Moss Lake Gold Project, where outcrop exposure is below average. Seven of the eight drill holes intersected wide zones of shearing and alteration along with low grade gold mineralization, consistent with what is seen peripheral to the Moss Lake gold deposit. Seven of eight holes drilled in the southern area intersected wide zones of consistent low grade gold mineralization similar to what is seen on the far extents of the Moss Lake gold deposit. 22HUR183 intercepted 0.1 g/t Au over 317.7 m and 22HUR182 intercepted 0.3 g/t Au over 62.6 m including 0.9 g/t Au over 10.0 m. Zones of magnetic disruption associated with northeast trending structures on strike from the reconnaissance drilling identified as high priority targets for 2023. Interpretation of the geophysical data, as well as geological modelling, is ongoing over the entire project. In the Huronian Mine area preliminary analysis of the geophysical data shows excellent correlation between certain geophysical features and gold mineralization. It is expected that the targeting exercise in this area will assist in identifying new zones of gold mineralization as well as extensions of known zones. Exploration on Kesselrun's 100% owned Huronian Gold Project is focused on outlining and growing gold mineralization in the numerous known zones located in close proximity to the former producing Huronian Gold Mine as well as the discovery of new zones elsewhere on its underexplored and extensive 4600- hectare land package. The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz Au at an average grade of 15.3 g/t Au in the indicated category and 501,377 oz Au at an average grade of 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian Project is historic in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and includes it for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources. Announcement • Jan 28
Kesselrun Resources Ltd. Receives Final Data on the NuTEM and Magnetics Survey Kesselrun Resources Ltd. received the final data on the NuTEM and magnetics survey initiated last year on the Huronian Gold Project. NUVIA Dynamics Inc. (‘Nuvia’) completed its acquisition and processing of the data from the 372- kilometre NuTEM Electromagnetics (‘NuTEM’) and Total Field Magnetic Intensity (‘TMI’) heli-borne survey in the fall of 2022. TechnoImaging, LLC (‘TechnoImaging’) then inverted the data with its proprietary GlassEarth® 3D imaging technology to produce 3D subsurface voxel models of the survey area. Integration of the 3D inverted data with geology, known mineral occurrences and drill hole information, is now ongoing with the end result being the generation of an inventory of new targets for drill testing. In the southern portion of the project area, on strike from the adjacent Moss Lake Gold Project, outcrop exposure is below average. The geophysics, integrated with the reconnaissance drilling performed at the end of last year's program, will identify high priority targets and focus exploration efforts in 2023. Results from that drilling along with the newly identified targets will be released in the near future. In the Huronian Mine area preliminary analysis of the geophysical data shows excellent correlation between certain geophysical features and gold mineralization. It is expected that the targeting exercise in this area will assist in identifying new zones of gold mineralization as well as extensions of known zones. Announcement • Jan 13
Kesselrun Reviews 2022 Along with Further Fisher and Huronian Zone Results Kesselrun Resources Ltd. share a review of the highlights and accomplishments of the 2022 exploration program on the Huronian Gold Project, including further drill results from the Fisher and Huronian Zones, as well as the outlook for 2023. 2022 highlights saw significant expansions of all known zones and the discovery of multiple new zones 22HUR168 on the Fisher Zone intercepted 8.0 g/t Au over 0.6 m within a 13.7 m interval which averaged 0.5 g/t Au 22HUR155 on the Huronian Zone intercepted 8.8 g/t Au over 0.5 m within a 10.4 m interval which averaged 0.7 g/t Au 2023 will see refinement of the mineralization model, integration of the geophysics in targeting and drill testing Exploration on Kesselrun's 100% owned Huronian Gold Project is focused on outlining and growing gold mineralization in the numerous known zones located in close proximity to the former producing Huronian Gold Mine as well as the discovery of new zones elsewhere on its underexplored and extensive 4600- hectare land package. Discovery of new high-grade zones in the Fisher area and a near doubling of the strike and depth extents of the main Fisher Zone Doubling the strike length of the McKellar Zone Refining and continuing to prove model through high-grade intercepts across zones NuTEM and Magnetics Geophysical Survey over entire Huronian project area At the beginning of 2022, the Fisher Zone was modeled as a singular high-grade zone with a strike length of ~ 400 m and a depth of ~175 m. As a result of effective modeling and successful drilling, Kesselrun was able to identify multiple new high-grade zones on both the hanging-wall and foot-wall sides of the main zone as well as extend the main zone to a strike length of ~700 m and depth of ~250 m. A further twelve holes were drilled near the end of the 2022 exploration program testing strike extents of known zones as well as new targets within the Fisher area. Kesselrun was successful in greatly extending the strike length of the McKellar Zone during 2022. At its furthest drilled holes to the west, the zone now has a total length of ~1200 m which doubled the 2021 zone strike length of 600 m. The McKellar zone has only been drilled to a depth of ~150 m leaving great potential at depth. As well, a further kilometre of strike length remains untested to the far southwest. Plans for 2023 will see further drilling to extend the McKellar Zone to depth, infill drilling and testing of the far southwest strike extents. Announcement • Nov 30
Kesselrun Resources Releases Additional Drill Results on its Huronian Gold Project Kesselrun Resources has released additional drill results on its Huronian Gold Project. Drilling on the McKellar Zone continues to intercept gold mineralization over significant widths and grades extending the zone by approximately 600 metres to the west, doubling the strike length of the zone to over 1200 metres. The 100% owned Huronian Project, located 100 kilometres west of Thunder Bay in a region of numerous multimillion-ounce development and advanced exploration projects, is one of two company properties, the other being its 100% owned Bluffpoint Project. Highlights include: Hole 22HUR178, which intercepted 4.6 g/t gold over 6.6 m including 48.0 g/t gold over 0.6 m within a 24.0 m interval which averaged 1.3 g/t gold, Hole 22HUR177, which intercepted 6.8 g/t gold over 1.0 m within a 27.5 m interval which averaged 0.4 g/t gold, and Hole 22HUR176, which intercepted 7.2 g/t gold over 1.0 m within a 12.1 m interval which averaged 0.7 g/t gold. The 2022 Huronian exploration program consists of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 2000 metre strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. Drilling has been paused for the remainder of the season with approximately 13,000 metres completed this year. This will allow all outstanding assays to be received, compiled and interpreted enabling more effective drill targeting when drilling recommences. The Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz gold at an average grade of 15.3 g/t gold in the indicated category, and 501,377 oz gold at an average grade of 14.4 g/t gold in the inferred category. The resource was estimated by Minescape Exploration Inc. in 1998 and is historic in nature and is presented only for reference purposes as additional work is required to confirm the numbers. The Huronian Gold Project hosts the same lithological package of rocks, as interpreted from both Government of Ontario and Kesselrun Resources mapping, compilation and modelling. It is on strike from the adjacent Moss Lake Gold Project with an NI 43-101 complaint resource estimate of 4.17M oz Au at an average grade of 1.1 g/t Au in the inferred category. Again, management cautions that mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property. Announcement • Nov 29
Kesselrun Resources Ltd. Doubles Mckellar Zone Strike Length Kesselrun Resources Ltd. to provide further drilling results on its 100% owned Huronian Gold Project. Drilling on the McKellar Zone continues to intercept gold mineralization over significant widths and grades extending the zone by approximately 600 metres to the west, doubling the strike length of the zone to over 1,200 metres. The 2022 Huronian exploration program consists of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 2,000 metre strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. Drilling has been paused for the remainder of the season with approximately 13,000 metres completed this year. This will allow all outstanding assays to be received, compiled and interpreted enabling more effective drill targeting when drilling recommences. Kesselrun has implemented a quality control program to comply with industry best practices for sampling, chain of custody and analyses. Certified gold reference standards, blanks and duplicates are inserted at the core processing site as part of the QA/QC program in addition to the control samples inserted by the lab. Samples are prepared and analyzed by Activation Laboratories in Thunder Bay. Samples are analyzed for gold using Fire Assay-AA techniques. Samples returning over 10 g/t gold are analyzed using Fire Assay-Gravimetric methods. Selected samples are also analyzed with a standard 1 kg metallic screen fire assay. All results reported herein have passed QA/QC protocols. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Director Yana Silina was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 01
Kesselrun Resources Ltd., Annual General Meeting, Nov 29, 2022 Kesselrun Resources Ltd., Annual General Meeting, Nov 29, 2022. Announcement • Sep 23
Kesselrun Resources Ltd. Provides Further Drilling Results on its 100% Owned Huronian Gold Project Kesselrun Resources Ltd. provided further drilling results on its 100% owned Huronian Gold Project. Drilling on the McKellar Zone continues to intercept high-grade gold within wide intervals of mineralization. 22HUR170 intercepted 14.4 g/t over 11.6 m including 184.0 g/t Au over 0.8 m within a 124.0 minterval which averaged 1.8 g/t Au. 22HUR151 intercepted 16.4 g/t Au over 1.0 m within an 11.1 m interval which averaged 1.7 g/t Au. 22HUR153 intercepted 9.9 g/t Au over 1.2 m within a 15.5 m interval which averaged 1.1 g/t Au which included 1.7 m of open workings which were assigned zero grade. The 2022 drill program has been designed to expand zone footprints as well as infill drill identified areas of gold mineralization. Specifically, the drill holes reported herein were part of the program designed to infill gaps of up to 100 metres in the heart of the McKellar zone. Infill drilling on the McKellar zone continues to impress with multiple high-grade veins within a much wider zone. These blowouts are common in all the zones on Huronian and are exemplified by local fold and fault thickening. The 2022 Huronian exploration program consists of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. Drilling has been paused for the remainder of the season with approximately 13,000 metres completed this year. This will allow the remainder of the numerous outstanding assays to be received, compiled and interpreted enabling more effective drill targeting when drilling recommences. The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz Au at an average grade of 15.3 g/t Au in the indicated category and 501,377 oz Au at an average grade of 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian Project is historic in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and includes it for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources. Announcement • Aug 13
Kesselrun Resources Ltd. Continues Drilling High-Grade; Extends Fisher Zone 250 Metres to West Kesselrun Resources Ltd. provided further drilling results on its 100% owned Huronian Gold Project. Drilling on the Fisher Zone continues to intercept significant gold mineralization. Most notably, recent drilling has extended the Fisher Zone along strike by approximately 250 metres to the west with numerous vein intercepts, including significant high-grades of up to 49.5 g/t over 1.0 metres. The 2022 Huronian exploration program consists of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1,500 m strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz Au at an average grade of 15.3 g/t Au in the indicated category and 501,377 oz Au at an average grade of 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian Project is historic in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and includes it for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources. As well, the Huronian Gold Project hosts the same lithological package of rocks, as interpreted from both Government of Ontario and Kesselrun Resources mapping, compilation and modelling, on strike from the adjacent Moss Lake Gold Project with an historic resource estimate of 1,377,300 oz Au at an average grade of 1.1 g/t Au in the indicated category and 1,751,600 oz Au at an average grade of 1.1 g/t Au in the inferred category as outlined in Wesdome Gold Mines' 2013 PEA (3) (4). Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property. Announcement • Jun 14
Kesselrun Resources Ltd. Initiates NuTEM and Magnetics Survey over Huronian Gold Project Kesselrun Resources Ltd. announced the initiation of an airborne geophysical survey over a majority of the Huronian Gold Project. NUVIA Dynamics Inc. has been contracted to acquire and process the data from a 372-kilometre NuTEM Electromagnetics and Total Field Magnetic Intensity heli-borne survey. TechnoImaging, LLC will then invert the data with its proprietary GlassEarth® 3D imaging technology to produce 3D subsurface voxel models of the survey area. By integrating the 3D inverted data with geology, known mineral occurrences and drill hole information, an inventory of new targets for drill testing will be generated. The 2022 Huronian exploration program will consist of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. Board Change • Apr 29
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Director Yana Silina was the last director to join the board, commencing their role in 2014. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 14
Kesselrun Resources Ltd. Provides Exploration Update; Second Drill Rig Added Kesselrun Resources Ltd. provided the following update. 2022 Drill Program: The 2022 drill program on the Huronian Gold Project is now well underway with the recent addition of a second drill rig. A total of 15,000 metres of drilling is planned in this phase. Currently, the first drill rig is operating in the Fisher Zone area where multiple high-grade zones are situated, all in close proximity. The second drill rig is now drilling on the McKellar Zone. The immediate focus will be for zone expansion and infill drilling on all the zones surrounding the historic Huronian gold Mine. Moss Southwest Target: The southern portion of the Huronian Gold Project hosts the untested strike extent of the Moss Gold Deposit, currently being explored by Goldshore Resources. An unmanned aerial vehicle borne (UAV) magnetic survey has been commissioned to commence in early May covering this highly prospective area. The results of this survey will be integrated into the geological model and be instrumental in reefing drill targets currently being planned. Testing of these targets by drilling is estimated to commence by June. Announcement • Feb 18
Kesselrun Resources Releases Additional Drill Results on Its Huronian Gold Project Kesselrun Resources has released additional drill results on its Huronian Gold Project. The 100% owned Huronian Project, located 100 kilometres west of Thunder Bay in a region of numerous multimillion-ounce development and advanced exploration projects, is one of two company properties, the other being its 100% owned Bluffpoint Project. Continued drilling and modeling of the Fisher zone has identified multiple new, high-grade zones in both the footwall and hanging wall sides of the Fisher zone, all in close proximity. Highlights include hole 21HUR130, which intercepted 8.4 g/t gold over 4.7 metres, including 33.9 g/t gold over 1.0 metre in the newly named Fisher FW-A Zone, and hole 21HUR108, which intercepted 24.3 g/t gold over 0.5 metres in the newly named Fisher HW-B Zone. Ongoing modelling incorporating drill results from both Kesselrun and previous operators has interpreted multiple new zones in both the hangingwall and footwall to the Fisher Zone. These zones vary in thickness from 0.5 to 10 metres wide and are currently outlined up to 200 metres along strike. The recognition of these new zones points to the tremendous potential that remains in the area in and around the historic Huronian mine. Numerous historic drill intercepts and surface expressions of gold mineralization have yet to be incorporated into modelled zones. The Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz gold at an average grade of 15.3 g/t gold in the indicated category, and 501,377 oz gold at an average grade of 14.4 g/t gold in the inferred category. The resource was estimated by Minescape Exploration Inc. in 1998 and is historic in nature and is presented only for reference purposes as additional work is required to confirm the numbers. The Huronian Gold Project hosts the same lithological package of rocks, as interpreted from both Government of Ontario and Kesselrun Resources mapping, compilation and modelling. It is on strike from Wesdome Gold's adjacent Moss Lake Gold Deposit which has a resource estimate of 1,377,300 oz gold at an average grade of 1.1 g/t gold in the indicated category and 1,751,600 oz gold at an average grade of 1.1 g/t gold in the inferred category, as outlined in their 2013 PEA. Again, management cautions that mineralization hosted on nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property. The 2021 Huronian drill program consisted of approximately 19,750 metres with results from the remaining 750 metres still to come. The 2022 Huronian exploration program will consist of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 metre strike length in the area of the historic Huronian Mine. The geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will also be targeted. Announcement • Jan 22
Kesselrun Resources Ltd. Provides the Drilling Results on its Huronian Gold Project Kesselrun Resources Ltd. provided the following drilling results on its Huronian Gold Project. Drilling of the McKellar zone continues to expand the footprint of the zone along strike and at depth as well as continuing to follow up with infill drilling. The zone is now well defined for nearly 600 metres of strike length and to a down dip depth of 150 metres. Drilling to the west has shown the potential for at least another 200 metres of extension. 2022 drilling will aim at proving up that potential at a minimum as well as further extending the zone down dip. The 2021 Huronian drill program was completed with approximately 19,750 metres drilled of which the results from approximately 15,750 metres of drilling have been released. 2022 Huronian Exploration Program The 2022 Huronian exploration program will consist of drilling as well as geophysics over selected target areas. Drilling will be targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. As well, the geology on strike to the southwest of Goldshore Resources' Moss Lake deposit will be targeted. A 2nd drill rig is currently in the process of being procured for the increased drilling activity anticipated in 2022. Announcement • Dec 09
Kesselrun Resources Ltd. announced that it has received CAD 3 million in funding On December 8, 2021, Kesselrun Resources Ltd. closed the transaction. The company issued 9,634,597 flow-through units for gross proceeds of CAD 1,686,054.475 and 6,256,884 flow-through units to be sold to charitable purchasers for gross proceeds of CAD 1,313,945.64 for aggregate gross proceeds of CAD 3,000,000.115 in the transaction. In connection with the transaction, the company paid to Red Cloud Securities Inc. total finder's commissions of CAD 196,490 and issued to 1,056,404 warrants. Each finder's warrant will be exercisable into one common share at a price of CAD 0.175 at any time on or before December 8, 2023. The company paid Canaccord Genuity Group a finder's commission of CAD 1,750. Recent Insider Transactions • Nov 11
President recently bought CA$66k worth of stock On the 5th of November, Michael Thompson bought around 456k shares on-market at roughly CA$0.14 per share. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of CA$134k worth in shares. Announcement • Sep 24
Kesselrun Resources Ltd. Extends Strike Length on Mckellar with Intercept of 6.4 G/T Au over 5.9 Metres Kesselrun Resources Ltd. provided the following drilling results on its Huronian Gold Project. Continued drilling of the McKellar zone has been successful in confirming the continuity of the mineralization with the discovery of another high-grade structure. The zone has now been extended to over 500 metres in strike length and approximately 100 metres in depth. Further drilling is planned down plunge of these structures as well as along strike to the southwest. 21HUR091 intercepted 47.8 g/t Au over 0.6 m within a 5.9 m wide zone which averaged 6.4 g/t Au. 21HUR079 intercepted 22.2 g/t Au over 0.6 m within a 28.8 m wide zone which averaged 1.0 g/t Au. 21HUR077 intercepted 13.7 g/t Au over 1.0 m as well as an 11.0 m wide zone averaged 0.7 g/t Au. 21HUR076 intercepted 6.3 g/t Au over 1.5 m within a 19.4 m wide zone which averaged 1.1 g/t Au. The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model. Announcement • Jun 11
Kesselrun Resources Ltd. Provides Drilling Results on Its Huronian Gold Project Kesselrun Resources Ltd. provided the following drilling results on its Huronian Gold Project. Drilling on the McKellar Zone has intercepted significant gold mineralization approximately 200 metres along strike from the earlier Kesselrun drilling. Historic drilling by previous operators identified the main shear zone for over 1000 metres along strike to the southwest but failed to intersect the Huronian type high-grade structures on a consistent basis. Kesselrun's new mineralization model suggests historic drilling was oriented sub-parallel to those high-grade structures. Highlights: 21HUR078 - 113.7 g/t Au over 1.9 m within a 7.3 m wide zone which averaged 30.3 g/t Au. Confirmation of new mineralization model shows potential for over 1000 metres of strike extent to the southwest. The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model. As of this news release approximately 8500 metres has been drilled of which the results from approximately 3650 metres of drilling have been released. Announcement • Jun 03
Kesselrun Resources Ltd. Provides the Drilling Results on Its Huronian Gold Project Kesselrun Resources Ltd. provided the following drilling results on its Huronian Gold Project. Drilling on the Fisher Zone has outlined a second high-grade shoot approximately 100 metres on strike to the southwest of the previously identified high-grade shoot. This significant discovery shows the potential for the Fisher zone to host multiple high-grade shoots in what is continually proving to be a vibrant gold mineralizing system. Highlights: 21HUR067 - 40.8 g/t Au over 1.6 m including 204 g/t Au over 0.3 m within a 10.4 m wide zone which averaged 6.6 g/t Au 21HUR068 - 15.8 g/t Au over 1.6 m within a 4.6 m wide zone which averaged 5.8 g/t Au - 21HUR069 - 26.4 g/t Au over 1.3 m including 113 g/t Au over 0.3 m within a 6.7 m wide zone which averaged 6.4 g/t Au. The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1,500 m strike length in the area of the historic Huronian Mine. The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model. As of this news release approximately 8,000 metres has been drilled of which the results from approximately 3,500 metres of drilling have been released. Announcement • May 11
Kesselrun Resources Ltd. Provides Drilling Results on its Huronian Gold Project Kesselrun Resources Ltd. provided the following drilling results on its Huronian Gold Project. The first set of holes drilled on the McKellar Zone in 2021 program has been successful in extending the mineralized shoot to over 75 metres in vertical depth with multiple high-grade zones over significant widths within a wider zone of significant gold mineralization. 21HUR056 intercepted 7.2 g/t Au over 5.8 m, 3.3 g/t Au over 5.3 m and 4.7 g/t Au over 3.1 m all within a 67.8 m wide zone which averaged 1.6 g/t Au. 21HUR057 intercepted 5.5 g/t Au over 4.7 m within a 23.0 m wide zone which averaged 1.4 g/t Au. The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1,500 m strike length in the area of the historic Huronian Mine. As of this news release approximately 6,500 metres has been drilled of which 2,750 metres of drilling results have been released. The area also has tremendous potential for discovery of new wide zones of significant gold mineralization in light of the new revised mineralization model. The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz Au at an average grade of 15.3 g/t Au in the indicated category and 501,377 oz Au at an average grade of 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian Project is historic in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and is included for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources. As well, the Huronian Gold Project hosts the same lithological package of rocks, as interpreted from both Government of Ontario and Kesselrun Resources mapping, compilation and modelling, on strike from Wesdome Gold's adjacent Moss Lake Gold Deposit with a resource estimate of 1,377,300 oz Au at an average grade of 1.1 g/t Au in the indicated category and 1,751,600 oz Au at an average grade of 1.1 g/t Au in the inferred category as outlined in their 2013 PEA2. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on Kesselrun Resources' property. Announcement • Mar 12
Kesselrun Resources Ltd. Provides Update on Huronian Gold Project Kesselrun Resources Ltd. provided the following update on its Huronian Gold Project. The Company has received initial results from the 2021 drill program. The program commenced on the Fisher Zone with the initial goal of testing the grade continuity and plunge direction of the high-grade shoot at Fisher. Hole 21HUR030 assayed 14.8 g/t Au over 1.0 m within 10.3 m of 4.7 g/t Au; 21HUR031 assayed 30.4 g/t Au over 1.0 m within 5.8 m of 6.8 g/t Au; 21HUR032 assayed 14.3 g/t Au over 0.9 m within 3.9 m of 4.5 g/t Au; 21HUR034 assayed 16.7 g/t Au over 0.8 m and 13.3 g/t Au over 1.4 m within 3.8 m of 5.8 g/t Au and 3.9 m of 7.0 g/t Au respectively. Multiple high-grade veins intercepted within wide zones of gold mineralization. Plunge direction confirmed at shallower levels. Holes now planned further down plunge. The 2021 Huronian drill program is budgeted at 20,000 metres targeting the Fisher, Fisher North, McKellar and Huronian zones, all in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The area also has tremendous potential for discovery of new zones in light of the new revised mineralization model. Announcement • Jan 29
Kesselrun Resources Ltd. Commences Huronian Gold Project Drilling Kesselrun Resources Ltd. announced that drilling has commenced at its Huronian Gold Project. The planned drill program consists of a total of 20,000 metres. Drilling will be focused on the Fisher, Fisher North, McKellar and Huronian zones as well as newly interpreted targets generated from the 2020 drilling. All the zones are in close proximity centred on the historically mined Huronian zone. The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with a historic resource estimate of 44,592 oz Au @ 15.3 g/t Au in the indicated category and 501,377 oz Au @ 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian Project is historic in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and is included for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources. Announcement • Jan 08
Kesselrun Resources Ltd. Provides Update on 2021 Drill Program Kesselrun Resources Ltd. provided the following update. 2021 Drill Program: The 2021 drill program is currently in the final stages of planning. Drilling is expected to commence later this month with a total 20,000 metres of drilling planned in this phase. Drilling will concentrate on the zones which made up the historic resource and the historically mined Huronian zone. Announcement • Nov 28
Kesselrun Prepares for Further Drilling at Huronian Gold Project Kesselrun Resources Ltd. provided final results from the initial drill program on the Huronian Gold Project as it prepares for the next phase of drilling. Results reported are from the McKellar and Huronian Zones. High grade plunging shoot intersected at McKellar assayed 22.6 g/t over 1.0 m within a wider zone of 2.7 g/t over 16.8 m in hole 20HUR025. Other McKellar intercepts assayed 1.1 g/t over 19.1 m in hole 20HUR020, 1.0 g/t over 21.8 m in hole 20HUR021 and 1.1 g/t over 15.9 m in hole 20HUR023 outlining a wide zone of gold mineralization. Huronian Zone drilling shows significant gold mineralization remaining among the historically mined area with hole 20HUR028 intercepting 8.7 g/t over 1.0 m within a wider zone of 0.8 g/t over 13.0 m in the hanging wall of 203S stope (200 foot level) and hole 20HUR029 intercepting 13.0 g/t over 0.9 m above 101S stope (100 foot level). The 2020 Huronian drill program targeted four zones; Fisher, Fisher North, McKellar and Huronian. The four zones are in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The zones include multiple generations of quartz veins that carry high grade gold values in association with altered, sheared and variably mineralized mafic volcanics, feldspar-quartz porphyries and iron formation. Previous operators have focused on the Fisher, Fisher North and McKellar Zones where drilling has been concentrated at near surface depths of 75 metres or less, while the Huronian Zone has been mostly unexplored since the closure of the mine in 1936. As a result, Kesselrun believes there to be significant upside potential on all zones. Announcement • Nov 17
Kesselrun Resources Ltd. announced that it expects to receive CAD 3 million in funding Kesselrun Resources Ltd. (TSXV:KES) announced a private placement of 4,000,000 units at an issue price of CAD 0.22 per unit for a minimum of CAD 1,000,000 and CAD 2,000,000 for the combination of units or flow through shares, flow-through common shares at a price of CAD 0.25 per flow-through common shares for gross proceeds of CAD 3,000,000 on November 16, 2020. The company has entered into an agreement with Red Cloud Securities Inc. pursuant to which Red Cloud will act as lead agent on behalf of a syndicate of agents. Each unit shall be comprised of one common share and one half of one common share purchase warrant. Each whole warrant shall be exercisable into one common share at a price of CAD 0.33 at any time on or before the date which is 24 months after the closing date of the offering. The company has granted Red Cloud an option, exercisable up to 48 hours prior to the closing date, to sell additional offered securities in any combination of units and FT shares at the offering prices to raise additional gross proceeds of up to CAD 1,000,000. The transaction is expected to close on or about December 7, 2020, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the listing of the offered securities on the TSX Venture Exchange. Resale of the common shares of the company distributed under the offering will be restricted, including a hold period in Canada of four months and one day following the closing date of the offering. Announcement • Nov 14
Kesselrun Resources Ltd. Provides Update on 100% Owned Huronian Gold Project Kesselrun Resources Ltd. provided the update on its 100% owned Huronian Gold Project. The Company reports further results from drilling on the Fisher North Zone and the area between the Fisher and Fisher North Zones. The 2020 Huronian drill program targeted four zones; Fisher, Fisher North, McKellar and Huronian. The four zones are in proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The zones include multiple generations of quartz veins that carry high grade gold values in association with altered, sheared and variably mineralized mafic volcanics, feldspar-quartz porphyries and iron formation. Previous operators have focused on the Fisher, Fisher North and McKellar Zones where drilling has been concentrated at near surface depths of 75 metres or less, while the Huronian Zone has been mostly unexplored since the closure of the mine in 1936. As a result, Kesselrun believes there to be significant upside potential on all zones. Is New 90 Day High Low • Nov 04
New 90-day low: CA$0.23 The company is down 6.0% from its price of CA$0.24 on 06 August 2020. The Canadian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is down 9.0% over the same period. Announcement • Oct 11
Kesselrun Resources Ltd. announced that it expects to receive CAD 8 million in funding Kesselrun Resources Ltd. (TSXV:KES) announced a non-brokered private placement of 10,000,000 non-flow through units at a price of CAD 0.45 per unit for proceeds of CAD 4,000,000 and 8,888,888 flow-through units at a price of CAD 0.40 per unit for gross proceeds of CAD 4,000,000 for aggregate gross proceeds of CAD 8,000,000 on October 9, 2020. Each non-flow through unit consists of one non-flow through share and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase a common share at a price of CAD 0.70 for a period of 24 months. Each flow-through unit consists of one flow-through common share and one-half of one share purchase warrant. Each warrant will entitle the holder to purchase a common share at price of CAD 0.70 for a period of 24 months. The warrants are subject to acceleration if the average 20-day closing price of common shares is equal to or greater than CAD 1 per share, the warrants will expire 30 days after the date on which the company provides such notice. The company may pay finder's fee as per the policies of TSX Venture Exchange. All securities issued are subject to hold period of 4 months and one day from closing. Announcement • Oct 08
Kesselrun Resources Ltd. Intercepts 42.1 g/t Au over 4.9 m Within 45.1 m Zone Averaging 6.2 g/t Au Kesselrun Resources Ltd. provided the update on its Huronian Gold Project. The Company has received initial results from the Fisher Zone, one of four zones tested in the 2020 Huronian drill program. The Fisher Zone has been outlined by historic work to be approximately 400 metres in strike length and 75 metres depth. The 2020 Huronian drill program targeted four zones; Fisher, Fisher North, McKellar and Huronian. The four zones are in close proximity along an approximate 1,500 m strike length in the area of the historic Huronian Mine. The zones include multiple generations of quartz veins that often carry higher gold values in association with altered, sheared and variably mineralized mafic volcanics, feldspar-quartz porphyries and iron formation. The 100% owned Huronian Gold Project hosts the past producing Huronian Mine, Northwestern Ontario's first gold mine with an historic resource estimate of 44,592 oz Au @ 15.3 g/t Au in the indicated category and 501,377 oz Au @ 14.4 g/t Au in the inferred category. The resource estimate presented for the Huronian Project is historic in nature. Kesselrun Resources' qualified person has not completed sufficient work to confirm the results of the historical resource. Kesselrun Resources is not treating this as a current mineral resource but is considering it relevant as a guide to future exploration and is included for reference purposes only. The historic resource was estimated by Minescape Exploration Inc. in 1998. Further drilling will be required by Kesselrun Resources to verify the historic estimate as current mineral resources. As well, the Huronian Gold Project hosts the same lithological package of rocks, as interpreted from both Government of Ontario and Kesselrun Resources mapping, compilation and modelling, on strike from Wesdome Gold's adjacent Moss Lake Gold Deposit with a resource estimate of 1,377,300 oz Au @ 1.1 g/t Au in the indicated category and 1,751,600 oz Au @ 1.1 g/t Au in the inferred category as outlined in their 2013 PEA2. Mineralization hosted on adjacent and/or nearby properties is not necessarily indicitave of mineralization hosted on Kesselrun Resources' property. Is New 90 Day High Low • Oct 07
New 90-day high: CA$0.46 The company is up 296% from its price of CA$0.12 on 09 July 2020. The Canadian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 5.0% over the same period. Announcement • Jul 17
Kesselrun Resources Ltd. announced that it has received CAD 0.6457 million in funding On July 10, 2020, Kesselrun Resources Ltd. (TSXV:KES) closed the transaction. The company issued 10,761,665 flow-through units for gross proceeds of CAD 645,700. The transaction included participation from 38 placees. In connection with the transaction, the company paid finder's fees of CAD 27,699 in cash and issued 461,650 warrants in aggregate to PI Financial Corp. CAD 4,179.00 in cash and 69,950 in broker warrants and Haywood Securities Inc. CAD 23,520.00 in cash and 392,000 in broker warrants. Each finder's warrant entitles the holder to purchase one common share at a price of CAD 0.12 for one year from the date of closing. The hold period will expire on November 11, 2020. The transaction was oversubscribed. The company also announced that the TSX Venture Exchange has accepted for filing documentation with respect to the transaction.