Kenorland Minerals Ltd. (TSXV:KLD) (OTCQX:KLDCF) (FSE: 3WQ0) ("Kenorland" or the "Company") announces that Franco-Nevada Corporation (TSX:FNV) (NYSE:FNV) ("FNV"), a leading gold-focused royalty and streaming company, has acquired an aggregate of 10,000,000 common shares ("Common Shares") of Kenorland (the "Transaction"), representing approximately 12.42% of the outstanding Common Shares.

"We are pleased to welcome Franco-Nevada, one of the most respected names in royalties and streaming, as a significant shareholder of Kenorland," said Zach Flood, President and CEO.

The Common Shares were acquired by FNV through private agreements at a price of $2.22 per Common Share from John Tognetti ("Tognetti") and Zach Flood, President and CEO of Kenorland, of which 7,950,000 Common Shares were acquired from Tognetti and the remaining 2,050,000 Common Shares were acquired from Mr. Flood, for an aggregate purchase price of $22.2 million.

Prior to the Transaction, FNV did not own any Common Shares of Kenorland and Tognetti held an aggregate of 11,115,603 Common Shares, of which 9,715,500 Common Shares were held directly, 812,175 Common Shares were held through 4224973 Canada Inc. and 587,928 Common Shares were held through San Jacopo Trading Inc., representing in aggregate approximately 13.80% of the outstanding Common Shares.

As a result of the Transaction, FNV owns 10,000,000 Common Shares, representing approximately 12.42% of the outstanding Common Shares and Tognetti now holds an aggregate of 3,165,603 Common Shares, of which 1,765,500 Common Shares are held directly, 812,175 Common Shares are held through 4224973 Canada Inc. and 587,928 Common Shares are held through San Jacopo Trading Inc., representing in aggregate approximately 3.93% of the outstanding Common Shares. Tognetti has now ceased to be an insider of Kenorland following the Transaction. Mr. Flood continues to hold 3,422,888 Common Shares following completion of the Transaction.

FNV acquired the Common Shares for investment purposes. Franco-Nevada has no current plan or intentions which relate to, or would result in, acquiring additional securities of Kenorland, disposing of securities of Kenorland, or any of the other actions enumerated in item (a) through (k) of Item 5 of Form 62-103F1 of National Instrument 62-103 - The Early Warning System and Related Take-over Bid and Insider Reporting Issues ("NI 62-103"). FNV may, from time to time in the future, depending on market conditions and its investment strategy, acquire additional securities of Kenorland in the open market or pursuant to privately negotiated transactions, sell all or a portion of its securities of Kenorland or take any of the other enumerated actions.