Mr. Peter Bell reports

KERMODE RENEGOTIATES TERMS FOR STAR OF THE WEST

Kermode Resources Ltd. has optioned the Star of the West project, effective as of Oct. 28, under different terms than previously announced.

The royalty shall now be 2.5 per cent with a buydown of $1-million per 0.5 per cent for a total of $5-million to reduce the royalty to nothing. Any such payments shall be cash as no shares are issuable under the option agreement. The sales participation right shall be 30 per cent rather than 50 per cent. And the term shall be for 10 years rather than five years. As before, the sales right is calculated as a percentage of the gross proceeds from any transaction whereby Kermode sells an interest in the Star of the West.

As before, there are no exploration spending commitments. As before, Kermode has the right to take full ownership (100 per cent) of the claims at any time after the effective date, which is Oct. 28, 2022, as above.

Peter Bell comments: "The sales right has a limited period of time, but an unlimited amount of payout. The royalty has an unlimited period of time, but a limited amount of payout. Together, these two deals cover project-level economic exposure for the vendors. And Kermode benefits by no share issuance and doing this as an exempt transaction on the TSX-V."

About Kermode Resources Ltd.

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

We seek Safe Harbor.