21:19:17 EDT Sun 05 May 2024
Enter Symbol
or Name
USA
CA



Kermode Resources Ltd
Symbol KLM
Shares Issued 119,630,170
Close 2022-08-09 C$ 0.02
Market Cap C$ 2,392,603
Recent Sedar Documents

ORIGINAL: Kermode signs LOI for Black Bear B.C. project

2022-08-10 11:43 ET - News Release

Received by email:

File: Attachment 2022-08-10-KLM-Black Bear NEWS RELEASE DRAFT.pdf

      Kermode signs LOI for BLACK BEAR Project on Vancouver Island

Victoria, British Columbia   (August 10, 2022) - Kermode Resources Ltd. (TSXV:
KLM) ("KLM" or "Company") has entered into a non-binding letter of intent
("LOI") to acquire the BLACK BEAR BC PROJECT ("Project") in British
Columbia from a private individual. The Project includes exploration claims
covering the claims with the following license numbers 1097018 with total area of
487 hectares.

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

TERMS OF THE PURCHASE OPTION:

        Cash                   Securities  Spending Req's

Year 1  $12,000                0 shares    $0
        ($1,000 per month)                 $0
                                           $0
Year 2  $24,000                0

        ($2,000 per month)

Year 3  $36,000                0

        ($3,000 per month)

WORK COMMITMENTS: None.
OTHER TERMS & 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 August 4, 2022
and the STAR OF THE WEST deal as announced on August 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% NSR royalty with a $1M
buy-down for each 1% and a 50% future sales interest whereby the vendor group
receives half the gross proceeds for any property transaction in the next 5 years.
 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 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
(collectively herein referred to as "forward-looking information"). Such forward
looking statements involve known and unknown risks, uncertainties and other
factors that may cause Kermode actual results, performance or achievements, or
developments in the industry to differ materially from the anticipated results,
performance or achievements expressed or implied by such forward-looking
statements. Forward looking statements are statements that are not historical facts
and are generally, but not always, identified by certain words like "should".

Forward-looking statements in this document includes statements, but is not
limited to closing of the proposed transaction. Although Kermode believes the
forward-looking information contained in this news release is reasonable based on
information available on the date hereof. 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.
Readers should not place undue importance on forward-looking information and
should not rely upon this information as of any other date. While the Company
may elect to, it does not undertake to update this information at any particular time
except as required in accordance with applicable laws.
 


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