Mr. Peter Bell reports

KERMODE UPDATES "GREY COPPER" LETTER OF INTENT

Kermode Resources Ltd. has updated the terms of the proposed option agreement for Grey Copper, as initially announced on June 30, 2022. The land position has been expanded to include more ground at Grey Copper and to include the Jonathan's Pond claims. The project comprises mineral tenures numbered 034777M and 035343M for approximately 381 hectares and 034994M for 807 hectares in Newfoundland owned by arm's-length vendors. The area of the two projects is 1,188 hectares. The proposed transaction is subject to TSX-V (TSX Venture Exchange) approval.

Kermode has increased the total number of shares issuable by seven million on signing.

Kermode may acquire 100 per cent for the consideration in the associated table.

In addition, the deal shall have a 2-per-cent net smelter return royalty payable to the group, where 1 per cent can be bought-down for $1-million entirely or in part.

About Kermode Resources Ltd.

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

We seek Safe Harbor.