22:12:31 EDT Sat 13 Jul 2024
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Kermode Resources Ltd (2)
Symbol KLM
Shares Issued 44,242,618
Close 2024-06-11 C$ 0.01
Market Cap C$ 442,426
Recent Sedar Documents

Kermode amends terms of Lightning Peak option

2024-06-12 09:16 ET - News Release

Mr. Peter Bell reports


Kermode Resources Ltd. has optioned the Lightning Peak gold project in British Columbia. The terms have changed since the prior news release on the project from Feb. 20, 2024. Kermode shall make no share payments under the option agreement, and there are no spending requirements.

The Lightning Peak property is approximately 3,285 hectares, located 30 kilometres south of Cherryville, B.C., in the Monashee Mountains. The claims numbers are as shown in the associated table.

The option agreement has an initial term of one year. The term can be extended at any time for any additional amount of time at the mutual agreement of Kermode and Milosz Mielniczuk. If the option expires, the claims shall be returned to Mr. Mielniczuk.

Kermode shall assign a sales participation right of 55 per cent to the vendors, including 45 per cent for Mr. Mielniczuk, 5 per cent for James Vigh and 5 per cent for Luc Lesage. The sales participation right shall be calculated from the gross proceeds of any transaction where Kermode sells any interest in the project. The option agreement provides Kermode with the right to sell any interest in the project with mutual agreement of Kermode and Mr. Mielniczuk.

About Kermode Resources Ltd.

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

We seek Safe Harbor.

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