Post by
Newton1234 on Aug 19, 2022 2:32pm
News out $KLM three deals on Vancouver Island
@911mining three property deals moving forward. Thank you! #NewtonDeals https://cdn-ceo-ca.s3.amazonaws.com/1hfvl5e-KERMODE%20ISLAND%20PROPERTIES.jpg https://www.stockwatch.com/News/Item/Z-C!KLM-3294715/C/KLM Kermode options three exploration projects on Vancouver Island Victoria, British Columbia – (August 19, 2022) - Kermode Resources Ltd. (TSXV: KLM) (“KLM” or “Company”) advances the letters of intent for the COPPER KING, the STAR OF THE WEST, and the BLACK BEAR BC projects to completion by initiating a property option agreement for each project subject to final approval by the Board of Directors of KLM. KLM may earn 100% ownership of each project as at the terms below as three separate transactions. Peter Bell, CEO of KLM, comments, “These three new option agreements add to our previous transaction for the Lucky Strike project to give us significant exploration potential on Vancouver Island. I am grateful to the vendors for working with me to negotiate an option agreement that does not require KLM to issue any shares as payment. I look forward to learning more about these projects. Thank you, shareholders!” Management believes the transactions do not require regulatory approval. Each transaction is a separate agreement and none of the counterparties to any of the three transaction is an insider of KLM or a Non Arms Length Party. BLACK BEAR BC PROJECT: The BLACK BEAR BC PROJECT was previously announced on August 10, 2022, and includes one claim with a total area of 487 hectares. Title Number Claim Name Area (ha) 1097018 Black Bear 487 The option price includes cash payments of $12,000 ($1,000 per month) in the first year; then $24,000 ($2,000 per month) in the second year; and $36,000 ($3,000 per month) in the third year to begin immediately. The property would vest 100% in KLM upon KLM making the third year payment. There are no shares payable and no royalty or sales participation right. The total option price for the BLACK BEAR BC project is as follows: Timing Cash Securities Exploration or Other Work Commitments Signing $12,000 ($1,000 per month) 0 $0 Year 1 $24,000 ($2,000 per month) 0 $0 Year 3 $36,000 ($3,000 per month) 0 $0 The cash payments are due solely under the the BLACK BEAR BC project option. STAR OF THE WEST BC PROJECT: The STAR OF THE WEST BC PROJECT was previously announced on August 8, 2022, to include six claims with a total area of 1,136 hectares. Title Number Claim Name Area (ha) 1096991 Hawthorn 1418 1096964 Franklin Has Gold 613 1096989 Union Jack 550 1096962 Christmas Came Early 296 1092244 Star Of The West 106 1090863 Star Of The West 1 21 The option price includes two components: (1) a Net Smelter Return royalty of five percent 5% with a $5M buy-down where each 1% can be purchased from the vendors for $1M at any time at buyer’s discretion; and (2) a Sales Participation Right of fifty percent 50% of the gross proceeds of any future transaction if KLM sells the property in the next five years. The property would vest 100% in KLM upon KLM registering the royalty agreement at any time at the sole discretion of KLM after closing. There are no cash or shares payable. COPPER KING BC PROJECT: The COPPER KING BC PROJECT was previously announced on August 4, 2022, to include five claims with a total area of 1,136 hectares. Title Number Claim Name Area (ha) 1096661 COOMBS COPPER 105 1096665 COPPER KING MINES 463 1096831 CUP OR TWO 358 1096832 CANYON 168 1096833 LOGGED NOW 42 The option price includes two components: (1) a Net Smelter Return royalty of five percent 5% with a $5M buy-down where each 1% can be purchased from the vendors for $1M at any time at buyer’s discretion; and (2) a Sales Participation Right of fifty percent 50% of the gross proceeds of any future transaction if KLM sells the property in the next five years. The property would vest 100% in KLM upon KLM registering the royalty agreement at any time at the sole discretion of KLM after closing. There are no cash or shares payable. 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 TSXV nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain statements that constitute forward-looking statements as they relate to KLM and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", “should”, "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct or will come to pass. By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, KLM will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, KLM assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to; SARS-CoV-2; reliance on key personnel; shareholder and regulatory approvals; First Nations and other local communities; jurisdictional risk; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; commodities pricing; environmental issues; forest fires and other natural phenomena; rising costs related to inflation; effect of market interest on price of securities; failing to identify an economically viable mineral deposit; and, potential dilution.