EDM REPORTS ENTERING INTO EXCLUSIVE NEGOTIATIONS FOR THE SCOTIA MINE DEBT FINANCING AND OFFTAKE

Halifax, Nova Scotia, April 4, 2022 – EDM Resources Inc. (TSX-V: EDM) (“EDM” or the “Company”) announces that it is in advanced exclusive discussions to obtain debt financing and enter into an offtake agreement sufficient to put EDM’s

Scotia Mine into commercial production in Q4 of 2023.

EDM’s President and CEO, Mr. Mark Haywood, stated: “We are very pleased with our progress to date in selecting a potential transaction partner for the financing of the Scotia Mine and advancing our discussions of the terms of potential

financing and offtake agreements. While we do not have a binding agreement as of yet, we are confident that upon the satisfactory completion of mine site due diligence by the prospective counterparty and following further negotiations, we

will be in a position to announce that we have secured the financing we need move the Scotia Mine forward to production.”

EDM will provide an update on the status of the negotiations and any agreements reached respecting the finance and offtake

at or prior to the end of April 2022.