Kermode Resources Ltd. — Capital/Financing Update 2022

May 26, 2022

+20% Sb Antimony in collapsed workings at Green Monster Mine, Nevada $KLM

Victoria, British Columbia – (May 26, 2022) - Kermode Resources Ltd (TSXV: KLM) (“Kermode” or the “Company”) reports assays of select samples up to twenty percent antimony (20% Sb) at surface above a caved-in stope at the Green Monster Mine, which was subject to limited mining from 1918 through about 1967 for antimony. Similar material sampled 150 metres (m) to the east along azimuth 102.14 degrees returned 4.5% Sb. And another sample collected over 300m further in the same direction returned 1.9% Sb. There is prospective alteration with a sulphide bloom at surface in the area.

Peter Bell comments, “If the specific gravity of antimony is 6.69 then how can we use gravity methods to concentrate the material we sampled at the old crown pillar of the Green Monster mine in this news release? How much metal can we get out of a bulk sample program where the mine caved in? How much metal might exist across a 300m strike length to what depth? Where are the hot spots? Who wants the metal concentrate? The world needs antimony, let’s find out!”

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		Samples south and down-slope of Green Monster Mine
Sb (%)	Sample #	Description Ag (g/T)
20.1%	R769	Grab of remnant "crown pillar” at surface in caved stope.840
4.5%	R770	Random grab in pile from old backhoe trench.539
1.9%	R772	Random grab, large area of iron oxide with “sulphide bloom”.129

In addition, there were two samples taken from the immediate area around the crown pillar of the old mine that did not have significant metal. Sample R767 is a channel sample in prospect pit near “blowout of calcite” that had 0.2% Sb and 19 g/t Ag. Then R768 is a random chip at "deflation basin” with 0.0% Sb and 2 g/t Ag.

Results from sample R769 include 20.1% Sb and 840 grams silver per tonne (g/T Ag) in a grab sample collected from the remnants of what appears to be the “crown pillar” of the Green Monster mine after the underground mine has caved in. The pillar is visible at surface today as a structural feature that shows abundant iron oxides and remnant very fine grained silver steel sulphides, which may be the mineral owyheeite. The rock is mostly clay-altered gabbro with minor quartz breccia.

Sample R770 was located approximately 150m to the east of the old crown pillar of the mine at an old backhoe trench along the bottom of a canyon. This trench appears to be have been used to test for an extension of the structure that the Green Monster mine exploited. There is a pile of spoil material from the trench and a random grab sample of iron oxides appeared to contain jamsonite or bindhemite minerals that assayed 4.5% Sb and 539 g/T Ag.

Sample R772 was located 300m to the east of the crown pillar of the old mine in a area covering approximately 50 square meters with outcropping and subcropping silicified iron oxides. This area appears to be an extension of the geological structure at the Green mine and as sampled in R770. Rocks in this area are described as having a common sulphide bloom with trace copper oxide minerals and numerous cavities that appear to have formed after bladed calcite has been leached out. There are local examples of dark grey calcite with black seams and rocks that contain quartz breccia fragments cut by veins of crystalline quartz with gossanous manganese oxides all overprinted by veinlets of banded chalcedony. A random grab in this area returned 1.9% Sb and 129 g/T Ag contains enough grade to pass above the background levels as reported in other samples elsewhere in this news release.

Note that the North Mine did not have significant antimony.

		Samples +100m away from North Mine
	Sample
Sb (%)	#	Description Ag (g/T)
0.2%	R765	Channel sample of iron oxide in prospect pit.14
0.0%	R766	Chip channel of iron oxide with quartz.9

Note that one sample from the North Mine returned over one gram gold in assay.

Data room on the cloud,

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The Rye Patch Project:

As in the press release dated December 3rd, 2021, the Company has a letter of intent with Gold Range LLC for the Rye Patch Project, which includes the Alpha Patent and the WS claims.

Qualified Person:

The technical information in this news release has been reviewed and approved by Mr. Robert G. Carrington, P. Geo, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Kermode:

Kermode is a junior mining company hunting for exploration opportunities around the world.

On Behalf of the Board of Directors, KERMODE RESOURCES LTD

"Peter Bell" President/CEO

For further information please contact: Tel: 1-250-588-6939 Email: peterbellmining@gmail.com Website: https://linktr.ee/kermoderesources

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation (collectively herein referred to as "forward-looking information"). Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Kermode actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance, or achievements to differ materially from those contained in forwardlooking information, there may be other factors that cause results, actions, events, conditions, performance, or achievements to differ from those anticipated, estimated or intended.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.