EDM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF C$1,250,000

Halifax, Nova Scotia, September 30, 2024 – EDM Resources Inc. (TSX-V: EDM) (“EDM” or the “Company”) is pleased to announce a non-brokered private placement offering (the “Offering”) of 11,363,636 units (“Units”) at a price of C$0.11 per unit (the “Unit”), for total gross proceeds of C$1,250,000.

Each Unit will consist of one common share of the Company (each, a “Unit Share”) and one common share purchase warrant (each a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one common share (each a “Warrant Share”) at a price of C$0.14 for a period of 36 months following the issue date of the Unit. Pursuant to applicable Canadian securities laws, the Common Shares, the Warrants, and any Warrant Shares issued upon the exercise of Warrants will be subject to a four month plus one day hold period from the closing date.

If during the exercise period of the Warrants, the Common Shares trade at or above a volume-weighted average trading price of $0.30 per Common Share for 10 consecutive trading days, the Company may accelerate the expiry time of the Warrants to 30 days from the date on which the Company provides written notice to the holders of the Warrants.

The proceeds of the Offering will be used to advance ongoing environmental and permitting work at the Company’s Scotia Mine and for general corporate working capital purposes.

Certain directors, officers, and other insiders of the Company are expected to acquire securities under the Offering. Such participation will be a “related party transaction” as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) but is exempt from the valuation and minority shareholder approval requirements of MI 61-101.

The Offering is subject to TSX Venture Exchange approval.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.