Kermode Resources Ltd. — Capital/Financing Update 2023

Aug 2, 2023

Kermode options SILVERBELL TRIO PROJECT on Vancouver Island

Victoria, British Columbia - (July 24, 2023) - Kermode Resources Ltd. (TSXV: KLM) ("Kermode") options the SILVERBELL TRIO PROJECT on Vancouver Island as an exempt transaction within TSX Venture Exchange policy.

The SILVERBELL TRIO PROJECT is comprised of the following separate projects:

• The SILVERBELL Project covers 85 hectares with claim number 1106245.

• The DAUNTLESS Project covers 85 hectares with claim number 1098813.

• The CORONATION Project covers hectares 21 hectares with claim number 1064070.

The total size of all three projects is approximately 191 hectares.

There are no cash payments, share payments, nor work commitments. To earn 100% ownership of the project, Kermode must make the following payments:

• Two percent 2% royalty with two million dollar $2M buy-down to eliminate the royalty. The buy-down shall apply once for all the projects in the SILVERBELL TRIO PROJECT collection.

• Twenty percent 20% “Sale Participation Right” for ten years.

• “Area of interest” clause whereby the terms of this deal shall apply to any contiguous property that shall be acquired by either party within a 5km radius at the discretion of Kermode.

• “Sole discretion” clause where Kermode can exercise the purchase option for any or all” of the claims included in the SILVERBELL TRIO PROJECT at any time at the sole discretion of Kermode.

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.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking statements in this document includes, but is not limited to whether any proposed transaction shall be completed at any time.