Mr. Peter Bell reports

KERMODE CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $19,000

Kermode Resources Ltd. has completed the first tranche of its non-brokered private placement. For further information on this previously announced financing, refer to the company's May 29, 2025, news release.

Kermode issued 1.9 million units at a price of one cent per unit for gross proceeds of $19,000. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant is exercisable to acquire one common share of the company at a price of five cents per warrant share for a period of 60 months to June 17, 2030.

The proceeds will be used for general working capital purposes. The proceeds of the financing will not primarily be used to pay management fees or for investor relations activities. No insiders invested in this first tranche. There were no finders' fees paid in connection with this first tranche of the financing.

All securities issued and issuable under the first tranche of the financing will be subject to a four-month hold period expiring Oct. 18, 2025. Securities issued under any subsequent tranche(s) will be subject to a four-month hold period calculated from their date of official closing.

The company anticipates closing a second tranche of the financing on or about July 1, 2025. Completion of a second or other tranches of the financing remains subject to approval from the TSX Venture Exchange.

About Kermode Resources Ltd.

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

We seek Safe Harbor.