Mr. Peter Bell reports

KERMODE ANNOUNCES COMPLETION OF SHARES FOR DEBT TRANSACTION

Further to its news release dated Feb. 10, 2025, Kermode Resources Ltd. has settled debts of $60,000 owing to creditors of the company through the issuance of an aggregate of six million common shares at a price of one cent per share.

The shares issued pursuant to the shares-for-debt transaction are subject to a statutory four-month-and-one-day hold period from the date of issuance, in accordance with Canadian securities law and the policies of the TSX Venture Exchange.

Multilateral Instrument 61-101 disclosure

A total of $20,000 of the debt settled pursuant to the shares-for-debt transaction was held by insiders of the company and, accordingly, such portion of the shares-for-debt transaction constituted a related party transaction, as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101, pursuant to sections 5.5(a) and 5.7(1)(a), respectively, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the insider shares-for-debt transaction exceeded 25 per cent of the company's market capitalization.

About Kermode Resources Ltd.

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