Kermode Resources Ltd. — Capital/Financing Update 2023

Jun 21, 2023

Kermode signs LOI for EASTGATE BC project

Victoria, British Columbia – June 20, 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 42 hectares of mineral claims in BC. The EASTGATE BC project is comprised of one claim number #1104223.

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 5% five percent with a buy-down of $5M five million dollars to reduce the royalty to zero. The Sales Participation Right is set at 25% twenty five 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 the project.

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.