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Kermode Resources Ltd. — Capital/Financing Update 2023
May 9, 2023
42496_rns_2023-05-09_b3abd197-6c54-44aa-aad8-a8b78c0b5389.pdf
Capital/Financing Update
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Kermode revises LOI for Project from AURUM VENA MINERAL RESOURCES CORP
Victoria, British Columbia - (May 9, 2023) - Kermode Resources Ltd. (TSXV: KLM) announces a non-binding letter of intent for a purchase option on the KHRYSOS and SILVER BELL project from AURUM VENA MINERAL RESOURCES CORP. in BC.
The KHRYSOS project comprises BC mineral title numbers #1088992, 1095266, 1095267, 1095268, which is approximately 750 hectares. The SILVER BELL project comprises BC mineral title numbers #1092822, 1089287, 1092823, 1068145, which is approximately 500 hectares.
| Timing | Cash | Securities | Exploration or OtherWork Commitments |
|---|---|---|---|
| Signing | $0 | 15,000,000 | $0 |
| Year 1 | $0 | 0 | $0 |
| Year 2 | $0 | 0 | $0 |
| Year 3 | $0 | 0 | $0 |
| Year 4 | $0 | 0 | $0 |
| Year 5 | $0 | 15,000,000 | $0 |
There is no net smelter return royalty for the project. The vendor has a “Sale Participation Right” whereby they shall receive ten percent 10% of any proceeds received by Kermode from any future sale of disposition of any interest in the property in the next ten 10 years.
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: [email protected] Website: https://linktr.ee/kermoderesources
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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. There is no assurance (i) the conditions to closing the purchase and sale of the Project will be satisfied or waived, or (ii) that the Company will acquire the Project on the terms as outlined above, or at all. 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.