Kermode Resources Ltd. — Capital/Financing Update 2023

Mar 3, 2023

Kermode signs LOI for Turd Blossom Lithium Project in Newfoundland

Victoria, British Columbia – March 3, 2023 – Kermode Resources Ltd. (TSXV: KLM) (“Kermode”) signs a non-binding letter of intent to option an exploration project as an exempt transaction within TSX Venture Exchange policy.

The total area of the project is approximately 250 hectares of mineral claims in Newfoundland with claim numbers 035752M and 035753M. To earn 100% ownership of the project, Kermode must assign the vendors a Net Smelter Return royalty, a Sales Participation Right, and a cash payment as described below. The Net Smelter Return royalty is set at 2% two percent with a buy-down clause where the first 1% can be eliminated for $1M one million dollars and the final 1% can be eliminated for $3M three million dollars. The Sales Participation Right is set at 24% twenty percent for a period of 10 ten years, where the right is calculated as a percentage of the gross proceeds from any transaction whereby Kermode sells any interest in any of the projects. The cash payment shall comprise $3,000 payable on transfer of ownership.

There are no exploration spending commitments or share payments.

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

Tel: 1-250-588-6939 Email: peterbellmining@gmail.com Website: https://linktr.ee/kermoderesources

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