Kermode Resources Ltd. — Capital/Financing Update 2021

Oct 21, 2021

Kermode Resources Ltd. Updates Shares for Debt Settlement

VANCOUVER, Oct. 20, 2021 /CNW/ - KERMODE RESOURCES LTD. (TSXV:KLM) ("KERMODE" or the "Company") announces changes to the sharesfor-debt application previously announced on May 27, 2020, March 9, 2021, and June 11, 2021.

The Company previously entered into agreements with seven holders of outstanding unsecured promissory notes to settle the principal amounts owing thereunder (in the aggregate amount of $262,944) via the issuance of an aggregate of 17,529,657 common shares of the Company at a price of $0.015 per share. All shares issued pursuant to the debt settlement will be subject to resale restrictions under applicable securities legislation and the rules of the TSXV. The debt settlement is subject to TSXV acceptance.

Contact: Peter N. Bell CEO and Director Phone: 250-588-6939 Email: peterbellmining@gmail.com

Forward-Looking Statements: This News Release may contain certain "forward-looking" statements and information relating to Kermode which are based on the beliefs of Kermode's management, as well as assumptions made by and information currently available to Kermode's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitation, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. There is no assurance any of the shares-for-debt settlements, private placement or property option will occur on the terms as outlined above, or at all.

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.