Kermode Resources Ltd. — Capital/Financing Update 2023

Mar 3, 2023

Kermode signs LOI for 911 KNOCKOUT Project on Vancouver Island

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

The total area of the project is approximately 935 hectares of mineral claims in BC. The KNOCKOUT PROJECT is comprised of the following separate projects. The Maidan Project covers 341 hectares with claim numbers 1101659, 1101723, 1101724. The Robertson River Copper Project covers 340 hectares with claim number 1101059. The Comego Project covers 254.69 hectares with claim number 1102760.

To earn 100% ownership of the project, Kermode must assign the vendors a Net Smelter Return royalty and a Sales Participation Right as described below. The Net Smelter Return royalty is set at 2% two percent with a buy-down of $2M two million dollars to reduce the royalty to zero. The Sales Participation Right is set at 10% 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.

There are no exploration spending commitments, share payments, or cash 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.