EDM ANNOUNCES NO ATLANTIC SALMON PRESENT IN THE THIRD SEASON
OF TEST RESULTS

Halifax, Nova Scotia, May 7, 2024 – EDM Resources Inc. (TSX-V: EDM) (“EDM” or the “Company”) is pleased to announce that it continues to make significant progress on the required environmental work that is necessary for the restart of the Scotia Mine.

• Completion of three of four seasons of sampling for Atlantic Salmon DNA as required by the Department of Fisheries and Oceans (“DFO”).

  
  

• Reconnaissance work to identify additional potential locations for stream and/or river restoration required by the DFO for the fish habitat offsetting plan.

  
  

“We are pleased to report that the results of winter season of testing for Atlantic Salmon DNA, yielded no detection of Atlantic Salmon in or nearby the Scotia Mine. We anticipate the remaining one season of testing to also yield similar results which would be favourable for the restart of the Scotia Mine” said, Mr. Mark Haywood, President & CEO. “We also continue to make significant progress on satisfying the DFO’s requests through our environmental studies and offsetting restoration work which is designed to replace any fish habitat that may be impacted through our future mining operations at the Scotia Mine” he added.

EDM’s environmental consultants, Strum Consulting, have also stated that: “Three rounds of sampling (summer, fall, and winter) have now been completed resulting in no confirmed detections of Atlantic Salmon near the mine site. A fourth and final round of sampling will be conducted in Spring, which is expected to show similar results.”

Atlantic Salmon and Our Testing

Atlantic Salmon are anadromous, spending part of their life growing at sea and then returning to reproduce in their natal freshwater rivers. Generally, adults that are ready to spawn move into estuaries and then into freshwater rivers in the summer. However, the timing of river entry varies among populations as an adaptation to local conditions and water levels. Some populations return to rivers as early as late spring, whereas other populations return during the fall.

In Nova Scotia, Atlantic Salmon typically spawn in October and November. The young develop in gravel nest pits known as “redds”, emerging from their nests as fry from May-June. After two or three years in freshwater, they descend their natal rivers and enter the ocean.

EDM has undertaken seasonal environmental DNA (“eDNA”) sampling to provide evidence on the presence or absence of Atlantic salmon in watercourses near the mine, in consideration of the timing of freshwater life history stages.

EDM continues to work with Strum Consulting (McCallum Environmental) and GHD to complete the comprehensive four- season ecological study to demonstrate to the DFO, that the Project’s mining activities will not affect the Inner Bay Of Fundy (IBOF) Atlantic Salmon Habitat.

The Company has now completed three-seasons of eDNA testing (summer 2023, fall 2023, and winter 2024) and the results to-date of the first three seasons have yielded no Atlantic Salmon DNA.

EDM is continuing with the remaining one season of testing which is expected to be completed in May 2024.