Mr. Mark Haywood reports

EDM PROVIDES EXPLORATION UPDATE AND PLANS FOR ITS EASTVILLE PROSPECT IN EASTERN NOVA SCOTIA

EDM Resources Inc. has provided an update on the company's current exploration activities at its Eastville base metals prospect in eastern Nova Scotia, Canada.

The group of licences within its Eastville prospect (collectively herein referred to as the Eastville prospect) comprised 18 contiguous claims and is strategically located approximately 50 kilometres from the company's flagship Scotia mine property. Resourceful Geoscience Solutions Inc. (RGS) of Halifax, N.S., Canada, recently completed a program to relog 16 historical diamond drill holes located across the company's claims, totalling 2,276 metres. These data, along with newly digitized historical assay certificates, were used to create mineralization and lithology models of the Eastville prospect, as well as evaluate the potential opportunity for further drilling in the area.

Key highlights:

• Identified several correlated zones of lead (Pb) and zinc (Zn) mineralization from historical Eastville drill holes and that some of these zones remain open in multiple directions.
• Compilation of historical assay certificates has revealed historical intersections of 1.08 per cent Pb plus Zn over 66.5 metres from hole 224-23 and 1.45 per cent Pb plus Zn over 30.94 metres (m) from hole 224-7.
• New 3-D mineralization and lithological models were created, based on relogging and historical data, to give new insights into the prospect and enhance the efficacy of exploration planning.
• Based on the positive results, there is opportunity for further expansion of the defined mineralization with additional drilling of up to 2,650 m.

"Given its strategic proximity to the Scotia mine, we are excited about the exploration potential at the Eastville prospect. The length of mineralization and the grades in holes 224-23 and 224-7 are consistent with the mineralization exposed in bedrock present in the river that cuts through the property," said Mark Haywood, president and chief executive officer. "Advancing the exploration activities around the Scotia mine deposit and those within close proximity, will continue to provide exploration upside with the potential to expand the company's mineral resource base."

Land package overview

EDM, thorough its 100-per-cent-owned subsidiary, Scotia Mine Ltd., possesses and maintains exploration licences for several base metal prospects in Nova Scotia. The group of licences within its Eastville prospect (collectively herein referred to as the prospect), located approximately 50 kilometres from the company's flagship Scotia mine property, comprises 18 contiguous claims. The prospect is a sediment-hosted strata-bound lead-zinc deposit, hosted within the Meguma supergroup of metasedimentary rocks of Cambro-Ordovician age. The lead-zinc mineralization has been intersected in drilling over a strike length of approximately three kilometres within the area of the company's exploration licences, and mineralization occurs around the transition zone between the predominantly meta-greywacke Goldenville Group and the overlying argillaceous slates of the Halifax Group.

Resourceful Geoscience Solutions Inc. of Halifax, N.S., Canada (RGS), recently completed a program to relog 16 historical diamond drill holes located across the company's claims, totalling 2,276 m. These data, along with newly digitized historical assay certificates, were used to create mineralization and lithology models of the prospect, as well as evaluate the potential opportunity for further drilling in the area.

Table 2 herein highlights some of the composite intersections of historical assay data obtained through compilation of historical assay certificates. The table includes 66.5 m of 1.08 per cent Zn plus Pb in hole 224-23, and 30.94 m of 1.45 per cent Zn plus Pb from drill hole 224-7. Highlighted intercepts are those meeting a minimum grade of 1.0 per cent Zn plus Pb combined over a minimum drilled length of five m and no more than five consecutive metres below 0.5 per cent Pb plus Zn. Shorter including intervals meet a definition of at least 2.0 per cent Zn plus Pb over no less than three m drilled length and no more than three consecutive metres below 0.5 per cent Zn plus Pb. Based on three-dimensional modelling true widths are believed to be approximately 90 per cent of drilled lengths.

Composite intercepts presented in the second attached table are calculated from a compilation of historical assay certificates from drilling programs by other operators in 1977 through 1979 and 1981 through 1983. Their work was completed to industry standards at the time, but it is not in keeping with what would be considered a modern standard with respect to the items of quality assurance and quality control. EDM Resources has not validated the results of these historical analyses through duplicate sampling.

Lithology model

Using the 2023 relogging data combined with the digitized historical assays, a generalized 3-D lithology model was created, as well as mineralization models. The lithology model includes the units of slate, calcareous quartzite and quartzite. The slate unit defines the Halifax Group, and the quartzite lithology defines the Goldenville group. Historical and academic reports of the project describe a transition zone between the two groups which in this model was marked by a Calcareous quartzite unit. Given the condition of the core, and density of drilling this was the highest resolution to which lithologies could be modelled at this time. The contacts between the units dip between 40 and 60 degrees to the southeast.

Mineralization model

Sphalerite and Galena mineralization at Eastville is interpreted to be stratabound, parallel to stratigraphy. As such, the contact between the Halifax group slates and Goldenville quartzites was used as an informing trend in all models of mineralization. A bivariate analysis of Zn and Pb values in historical analyses reveals that the two metals are linearly correlated and do not occur independent of each other. Therefore, mineralization models are based on a numerical value of per cent Zn plus per cent Pb instead of creating separate models for the distribution of each metal. A subjective mineralization model was created by manually selecting and correlating mineralized drill intercepts exceeding a composite grade of 0.5 per cent Zn plus Pb from historical drill data. Unsampled intervals are assumed to be 0 per cent Pb plus Zn.

The extents of modelled domains in the mineralization model were limited to 50 m from the furthest informing drill hole or halfway to the nearest constraining drill hole, whichever was less. A "constraining drill hole" was defined as an adjacent drill hole without a correlated intercept. The geometry of the modelled zones was informed by the orientation of the geological boundary between the Halifax group slates and Goldenville group quartzites.

Potential exploration drilling opportunity

The company believes, based on the positive results of this relogging program, that there is opportunity for further expansion of the defined mineralization with additional drilling. RGS has proposed a 2,650-metre drilling concept which may be used to guide the planning of further exploration. The proposed concept is primarily based on 100-metre stepouts both down dip and along strike of significant historical results. The primary objective of such a program would be to test the continuity of the historically identified mineralization.

Qualified persons

The technical information in this news release has been reviewed and approved by David Murray, PGeo, president of Resourceful Geoscience Solutions, a consultant to EDM Resources, who is a qualified person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About EDM Resources Inc.

EDM is a Canadian exploration and mining company that has full ownership of the Scotia mine and related facilities near Halifax, N.S. Through its wholly owned subsidiary, EDM also holds several prospective exploration licences near its Scotia mine and in the surrounding regions of Nova Scotia.

The company's common shares are traded on the TSX Venture Exchange under the symbol EDM.

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