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18:59:29 EDT Wed 08 May 2024
Enter Symbol
or Name
USA
CA



Kermode Resources Ltd
Symbol KLM
Shares Issued 143,343,148
Close 2023-03-03 C$ 0.015
Market Cap C$ 2,150,147
Recent Sedar Documents

Kermode signs option for Newfoundland project

2023-03-03 16:23 ET - News Release

Bell Subject: News release to publish (LOI for Turd Blossom Lithium in Newfoundland) PDF Document File: Attachment 2023-03-03-KLM-News for NFLD Lithium LOI.pdf Kermode signs LOI for Turd Blossom Lithium Project in Newfoundland Victoria, British Columbia March 3, 2023 Kermode Resources Ltd. (TSXV: KLM) ("Kermode") signs 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% 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% two percent with a buy-down clause where the first 1% can be eliminated for $1M one million dollars and the final 1% can be eliminated for $3M three million dollars. The Sales Participation Right is set at 24% twenty percent for a period of 10 ten 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 Kermode is a junior mining company hunting for exploration opportunities around the world. On Behalf of the Board of Directors, KERMODE RESOURCES LTD "Peter Bell" President/CEO Tel: 1-250-588-6939 Email: peterbellmining@gmail.com Website: https://linktr.ee/kermoderesources Neither the TSX Venture Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

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