Mr. Peter Bell reports

KERMODE SIGNS LOI FOR MARCHAND CREEK PROJECT ON VANCOUVER ISLAND

Kermode Resources Ltd. has entered into a non-binding letter of intent to acquire the Marchand Creek project in British Columbia from a group of private individuals. The project includes exploration claims in Map No. 092C with the following licence numbers -- 1097467, 1097605 and 1097606 -- and a total area of 403 hectares.

The letter of intent provides for a due diligence period extending to Dec. 31, 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 letter of intent.

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 the buyer's discretion for a total buydown of $5-million;
• A sales participation right (SPR) of 25 per cent of gross proceeds of any future transaction where KLM 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.