Mr. Peter Bell reports

KERMODE SIGNS LOI FOR SANTANA MINE PROJECT ON VANCOUVER ISLAND

Kermode Resources Ltd. has entered a non-binding letter of intent (LOI) to acquire the Santana mine in British Columbia from a group of private individuals. The project includes one exploration claim with licence No. 1097236, covering 517 hectares in map No. 092K.

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:
  • A net smelter return royalty of 2.5 per cent where each 0.5 per cent can be purchased from the vendors for $1-million at any time at buyer's discretion for a total buydown of five million $5-million;
  • A sales participation right (SPR) of 25 per cent of gross proceeds of any future transaction where Kermode sells the property in the next 10 years.

About Kermode Resources Ltd.

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

We seek Safe Harbor.