File: Attachment 2024-02-20-KLM-LIGHTNING PEAK letter of intent news release.pdf

Kermode signs LOI for LIGHTNING PEAK Project

Victoria, British Columbia (February 20, 2024) - Kermode Resources Ltd. (TSXV:KLM) ("Kermode") announces the terms for a proposed option agreement to purchase 100% ownership of certain claims called the LIGHTNING PEAK project in British Columbia from a group of private individuals who are arm's length to Kermode. Further details of this non-binding letter of intent are provided below.

The project includes 11 mineral claims covering 2,900 hectares. The claims numbers are: 1080340, 1078941, 1076926, 1036771, 1077243, 1036360, 1055278, 1110978, 1106210, 1110978, 1110524, 1106214, 1106210.

The share payments shall be split 4 ways between Aurum Vena Resources Corp. (60%), James Vigh (20%), Luc Lesage (10%), and Micheal Langille (10%). The final cash payment will be paid to Milosz Mielniczuk. There are no spending requirements.

TERMS OF THE PURCHASE OPTION:

Date Cash Securities Spending Req's

Exchange $0 5,000,000 $0 Approval

Year 1 $0 5,000,000 $0

Year 2 $0 5,000,000 $0

Year 3 $0 5,000,000 $0

Year 4 $0 5,000,000 $0

Year 5 $75,000 5,000,000 $0

TOTAL $75,000 30,000,000 $0

OTHER TERMS & CONDITIONS: - A Net Smelter Return royalty of two percent 2% with a buy-down of two million dollars $2,000,000. The royalty and buy-down is payable only to Aurum Vena Resources Corp. - A Sales Participation Right of ten percent 10% of the gross proceeds of any future transaction where Kermode sells any interest in the project in the next ten years. The sales right is payable only to Aurum Vena Resources Corp. 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

For further information please contact:

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.

Forward-Looking Statements The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. There is no assurance that the Company will enter the option or acquire the Project on the terms as outlined above or at all. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.