EDM ANNOUNCES INTERIM CFO AND PROVIDES A CORPORATE UPDATE

Halifax, Nova Scotia, February 22, 2023 – EDM Resources Inc. (TSX-V: EDM) (“EDM” or the “Company”) is pleased to provide the following update on the Company’s activities.

The Company’s President and CEO, Mr. Mark Haywood, commented: “EDM is pleased to announce that Mr. Kevin Farrell has joined the Company as Interim CFO. Kevin has over 15 years of mining industry experience, is a Chartered Professional Accountant, and holds a BA in Accounting and Finance. We welcome him to EDM as we continue to advance the Company and our Scotia Mine to commercial production.”

Corporate Update:

• Mr. Farrell is an experienced Chartered Accountant and an accomplished finance leader who has led financial reporting, M&A activities and business transformations. He has a big four background in Audit and Financial Advisory. He has worked for and advised several mining companies including Anglo American, Barrick Gold, Uranium One, Gabriel Resources, Kirkland Lake Gold, Noront Resources and Sumatra Copper & Gold.

• Pursuant to the Company’s RSU incentive plan, the Board of Directors granted an aggregate of 26,786 Restricted Stock Units (“RSUs”) in the Company to Mr. Chris Fedora, Chief Mining Engineer. The RSUs will vest on February 16, 2024.

• A total of 20,000 stock options have been granted to an employee of the Company at a strike price of C$0.60 and expiring on February 20, 2033, subject to the Company’s Stock Option Plan and the policies of the TSX Venture Exchange (“TSX.V”).

• The Company is working diligently to lock in a development timeline which would see the Scotia Mine enter into commercial production within 9-12 months of the timeline announcement.

• EDM will be presenting at the Red Cloud pre-PDAC 2023 Mining Showcase on March 2, 2023, which will take place at the Sheraton Hotel in downtown Toronto, room ‘Sheraton Hall C’. Shareholders and interested parties are invited to register at www.redcloudfs.com/prepdac2023.

• EDM will be exhibiting at the 2023 PDAC Conference from March 5 to March 8, 2023. We welcome all shareholders and interested parties to visit us at booth #2314, during the course of the Conference.