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Kainantu Resources Announces Change of Auditor

Vancouver, B.C. – September 16, 2022 - Kainantu Resources Ltd. (TSX-V: KRL) (“KRL” or the “Company”), the Asia-Pacific focused gold exploration company, announces that it has changed auditors from Davidson & Company LLP (“Davidson & Company”) to Smythe LLP (“Smythe”), effective September 16, 2022.

At the request of the Company, Davidson & Company has resigned as of the effective date of September 15, 2022. Smythe has been appointed as the successor auditor. In accordance with National Instrument 51‐102 - Continuous Disclosure Obligations (“NI 51‐102”), the Company has filed a Notice of Change of Auditor on SEDAR together with letters from both Davidson & Company and Smythe, with each letter confirming agreement with the statements contained in the notice, as applicable. There were no reportable events (as defined in NI 51‐102) between Davidson & Company and the Company.

About Kainantu Resources Limited (KRL)

Kainantu Resources ‘KRL’ is an Asia-Pacific focused gold mining company with three highly prospective gold-copper projects, KRL South, KRL North and the May River Project. All projects are located in premier mining regions in PNG. Both KRL North and KRL South show potential to host high-grade epithermal and porphyry mineralisation, as seen elsewhere in the high-grade Kainantu Gold District. The May River project is in close proximity to the world-renowned Frieda River Copper-Gold Project, with historical drilling indicating the potential for significant copper-gold projects. KRL has a highly experienced board and management team with a proven track record of working together in the region; and an established in-country partner.  KRL recently executed an agreement to acquire the Kili Teke project in the western highlands of PNG.

Enquiries:

Kainantu Resources
Matthew Salthouse, Chief Executive Officer (Tel: + 65 8318 8125)
Callum Jones, Corporate Development & Commercial Associate (Tel: + 61 450 969 697)
Email: info@krl.com.sg

Investor Relations (Gemini Capital):
Kevin Shum
Tel: +1 212 219 4670 (702)
Email: kevin@jeminicapital.com

For further information please visit https://kainanturesources.com/

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. Disclaimer and Forward-Looking Information Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of KRL. In making the forward-looking statements, KRL has applied certain assumptions that are based on information available, including KRL’s strategic plan for the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. KRL does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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