Kermode Resources Ltd. — Capital/Financing Update 2023

Jun 9, 2023

Kermode Announces Private Placement for $50,000

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

Victoria, British Columbia - (June 9, 2023) - Kermode Resources Ltd (TSXV: KLM) ("Kermode" or the "Company") announces a non-brokered private placement. The aggregate gross proceeds to the Company shall be up to $50,000 (the "Offering") of common shares (the " Shares ") as defined below at a price of $0.01 per Unit. There shall be no warrant.

The proceeds of the financing will not primarily be used to pay management fees or for Investor Relations Activities. The specific use of proceeds are detailed below:

• Approximately $25,000 to corporate costs.

• Approximately $25,000 for exploration spending.

The Offering is anticipated to close on or about June 20, 2023 ( "Closing" ), or such later date as the Company may determine. The Closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture exchange. Kermode advises that the insiders of the company may participate in the Offering, which will be completed pursuant to available related party exemptions under Multilateral Instrument 61-101. Completion of the private placement is subject to acceptance by the TSX Veture exchange.

All securities issued in connection with the Offering will be subject to a four-month and one day hold period under applicable securities laws.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

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"). Forward-looking statements in this document includes statements, but is not limited to (i) closing of the Offering (and there is no guarantee the Offering will close on the terms as announced, or at all), and (ii) use of the Offering proceeds (and the Company reserves the right to use proceeds of the Offering toward other proper uses).