File: Attachment 2024-04-25-KLM-Stock Options and PSU News Release.pdf

Kermode issues Stock Options and Performance Share Units to Independent Director and CFO

Victoria, British Columbia April 25, 2024 Kermode Resources Ltd. (TSXV: KLM) (the "Company") grants Stock Options and Performance Share Units to a Director and an Officer in accordance with the Company's Security Based Compensation Plan.

The Company assigns to Mr. Roger Lewis, an independent Director, 400,000 Stock Options and 400,000 Performance Share Units. The Company assigns to Mr. Matthew Anderson, the CFO, 400,000 Stock Options and 400,000 Performance Share Units. The Stock Options shall have an exercise price of $0.05 per share and a five-year term, expiring on April 25, 2029.

The Performance Share Units ("Units") shall vest after one year and have a term of three years, expiring on April 25, 2029. The Units entitle the recipient to receive payment in cash or shares of an amount equal to the closing market price on the day prior to the last day of the applicable Performance Period multiplied by the applicable multiplier, to be determined on the last day of the Performance Period.

The timing of the Performance Period for any Units that may be exercised is at the sole discretion of the Board of Directors. After the Units have vested, some may be exercised on some dates and others on different dates at the sole discretion of the Board to allow for multiple Performance Periods to exercise different tranches of Units. The Board is not obligated to exercise any number of the Units at any time unless it so decides.

At the sole discretion of the Board of Directors, the form of payment for any Units shall be determined upon exercise. The multiplier shall be set at the sole discretion of the Board of Directors at the time of exercise with a maximum value of ten-to-one (10:1).

Prior to this issuance of Stock Options and Units, the Company had a total number of Stock Options equal to 1,619,630 with weighted average exercise price of $0.50, and a total number of Units equal to 1,000,000. The maximum number of Stock Options that can be issued by the Company at this time is equal to 4,206,542, which is 10% Issued Shares of the Company, and the maximum number of Units that can be issued is equal to 2,638,521 as set by the Company's Security Based Compensation Plan dated December 1, 2023.

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.

Forward-Looking Statements This news release contains statements that constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. Such forward-looking statements involve risks that may cause Kermode actual results to differ materially from anticipated results. Forward-looking statements in this document concern whether any security based compensation plan shall be exercised in the future.