Kainantu Resources Reports Filing of Fiscal 2020 Results

VANCOUVER, March 30, 2021 - Kainantu Resources Ltd. (TSXV: KRL) ("KRL" or the "Company"), is pleased to report the filing of its annual and fourth quarter results for the fiscal year ending November 30, 2020 ("Results").

It is noted that the Results are for the period ending immediately prior to the closing of the qualifying transaction ("Transaction"), where PLB Capital Corporation ("PLB") acquired all of the issued and outstanding shares of Kainantu Resources Pte Ltd ("KRPL"). PLB was also renamed Kainantu Resources Ltd., contemporaneous with closing the Transaction.

In accordance with continuous disclosure obligations, the Company has also published the financial accounts for KRPL for the fiscal year ending November 30, 2020.

Subject to obtaining necessary approvals, in due course the Company intends to adopt a December 31, or calendar, year-end for reporting financial results (with quarterly reporting to be adjusted accordingly).

About KRL

KRL is an Asia-Pacific focused gold mining company with two highly prospective gold projects, KRL South and KRL North, in a premier mining region, the high-grade Kainantu gold district of PNG. Both of KRL's projects show potential to host high-grade epithermal and porphyry mineralization, as seen elsewhere in the district. 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.

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.

SOURCE Kainantu Resources Ltd.