Mr. Peter Bell reports

KERMODE SIGNS LOI FOR BLACK BEAR PROJECT ON VANCOUVER ISLAND

Kermode Resources Ltd. has entered into a non-binding letter of intent to acquire the Black Bear B.C. project in British Columbia from a private individual. The project includes exploration claims covering the claims with the following licence No. 1097018 with total area of 487 hectares.

The LOI provides for a due diligence period extending to Dec. 31, 2022. During this period, Kermode can elect to enter into a definitive agreement which will formalize the transaction. Either party can conduct any activities during the LOI.

• Work commitments: none;
• Other terms and conditions: none.

Update on LOI for Copper King and Star of the West projects

The proposed terms for the Copper King deal as announced on Aug. 4, 2022, and the Star of the West deal as announced on Aug. 8, 2022, are both subject to change. In each case, the cash payment of $50,000 shall be removed. The revised terms for each deal shall only include a 5-per-cent net smelter return royalty with a $1-million buydown for each 1 per cent and a 50-per-cent future sales interest whereby the vendor group receives half the gross proceeds for any property transaction in the next five years.

About Kermode Resources Ltd.

Kermode is a junior mining company hunting for exploration opportunities around the world.

We seek Safe Harbor.