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Kermode Resources Ltd. — Capital/Financing Update 2024
Jun 12, 2024
42496_rns_2024-06-12_d8d40956-773c-4f5a-be54-1b5c89f40dd5.pdf
Capital/Financing Update
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Kermode options Lightning Peak Gold Project
Victoria, British Columbia – (June 12, 2024) - Kermode Resources Ltd. (TSXV:KLM) (“Kermode”) options the Lightning Peak gold project in British Columbia. The terms have changed since the prior news release on the project from February 20, 2024. Kermode shall make no share payments under the option agreement, and there are no spending requirements.
The Lightning Peak Property is approximately 3,285 hectares, located 30 km south of Cherryville, BC in the Monashee Mountains. The claims numbers are as follows.
| Claim ID | Claim Name | Claim Size (ha) |
|---|---|---|
| 1036360 | LIGHTNING PEAK | 187 |
| 1036771 | LIGHTNING PEAK 2 | 62 |
| 1055278 | AURUM VENA | 62 |
| 1076926 | LIGHTNING PEAK NORTH | 166 |
| 1077243 | LP NORTH | 62 |
| 1078941 | X | 1539 |
| 1080340 | DICTATOR 2 | 499 |
| 1100820 | DICTATOR | 374 |
| 1106214 | Dictator South | 21 |
| 1106210 | Peak AU | 83 |
| 1106214 | Dictator South | 21 |
| 1110524 | Kristina | 42 |
| 1110978 | LP South | 166 |
| -- | Total | 3285 |
The option agreement has an initial term of one year. The term can be extended at any time for any additional amount of time at the mutual agreement of Kermode and Milosz Mielniczuk. If the option expires, the claims shall be returned to Milosz Mielniczuk.
Kermode shall assign a Sales Participation Right of fifty-five percent 55% to the vendors, including 45% for Milosz Mielniczuk, 5% for James Vigh, and 5% for Luc Lesage. The Sales Participation Right shall be calculated from the gross proceeds of any transaction where Kermode sells any interest in the project. The option agreement provides Kermode with the right to sell any interest in the project with mutual agreement of Kermode and Milosz Mielniczuk.
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 accept 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.