EDM ANNOUNCES CEASE TRADE ORDER AND ANTICIPATED DATE OF ANNUAL FILINGS

Halifax, Nova Scotia, May 10, 2022 – EDM Resources Inc. (TSX-V: EDM) (“EDM” or the “Company”) announces that on May 9, 2022, the British Columbia Securities Commission issued a cease trade order (the “CTO”) against the Company

for failure to file its annual audited financial statements and associated documents for the year ended December 31, 2021 (the “Required Filings”) by the filing deadline of May 2, 2022. The CTO will remain in effect until the Required Filings are made, and subject to limited exceptions contained in the CTO, prohibits trades in or purchases of the Company’s securities in each Canadian jurisdiction which has adopted National Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions or which has a statutory reciprocal order provision.

The delay in completing the Required Filings by the May 2, 2022 deadline was primarily due to extended procedures conducted by the Company’s auditor relating to the Scotia Mine’s decommissioning liability for the period 2029 onwards. The Company anticipates that the 2021 audit will be completed shortly, and expects to make the Required Filings on or before May 13, 2022, after which the CTO will be revoked.