Mr. Peter Bell reports

KERMODE SIGNS LOI FOR TURD BLOSSOM LITHIUM PROJECT IN NEWFOUNDLAND

Kermode Resources Ltd. has signed a non-binding letter of intent to option an exploration project as an exempt transaction within TSX Venture Exchange policy.

The total area of the project is approximately 250 hectares of mineral claims in Newfoundland with claim numbers 035752M and 035753M. To earn 100-per-cent ownership of the project, Kermode must assign the vendors a net smelter return royalty, a sales participation right and a cash payment as described below. The net smelter return royalty is set at 2 per cent with a buy-down clause where the first 1 per cent can be eliminated for $1-million and the final 1 per cent can be eliminated for $3-million. The sales participation right is set at 24 per cent for a period of 10 years, where the right is calculated as a percentage of the gross proceeds from any transaction whereby Kermode sells any interest in any of the projects. The cash payment shall comprise $3,000 payable on transfer of ownership.

There are no exploration spending commitments or share payments.

About Kermode Resources Ltd.

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