EDM samples 142 g/t Au at Scotia

Mr. Mark Haywood reports EDM RECEIVES HIGH GOLD GRADES IN CONCENTRATE ASSAYS EDM Resources Inc. has received gold assays of 2.93 grams per tonne and 142 g/t in its assay sweep of zinc and lead concentrates at the Scotia mine. Highlights of the gold results: Lead concentrate fire assay composite sample 142 g/t gold (with repeat assays of 157 g/t and 95.0 g/t gold); Zinc concentrate fire assay composite sample 2.93 g/t gold (with repeat assays of 3.64 g/t and 1.46 g/t gold); 417,144 tonnes of zinc concentrate and 194,004 tonnes lead concentrate are expected to be produced over the Scotia mine's life according to the 2021 prefeasibility study. "Recently, we examined a limited amount of historical core from underneath the main zinc and lead carbonateous zone in the Meguma terrane formation because we observed strong gold and silver grades in an independent laboratory assay report. The assays were from when Scotia mine was last in operation in 2009. In conducting a detailed element assay sweep of some of the large concentrate piles in the load-out facility at the mill, we were excited to observe very high initial gold grades of 2.93 g/t and 142 g/t," said Mark Haywood, president and chief executive officer. "With these very high gold grades, to complete our due diligence on the results, we instructed Agat Laboratories carry out an additional multielement and gold analyses, which provided strong confirmation of the initial results. As a result of the positive confirmation assaying, the company is planning to conduct additional assaying of the concentrates and a review the gold potential at the Scotia mine using professional geological services." The company completed a 4.68-kilogram composite sample (No. 232151) of a 2.9-cubic-metre estimated lead concentrate pile and a 5.2-kilogram composite sample (No. 232152) of a 19.5-cubic-metre estimated zinc concentrate pile at the Scotia mine. The concentrate was produced in approximately 2009 from mineralization extracted from the main pit and processed through the Scotia mine's conventional crushing, grinding and flotation circuits. The composite samples were then processed at the Agat Calgary laboratory in Alberta and at the Agat Thunder Bay laboratory in Ontario. Following the initial results, the company instructed Agat Laboratories to conduct an additional multielement and gold analyses using the same protocols applied in the original sample as well as create new splits of the archived sample reject material and then prepare and analyze a new pulp fraction. According to the 2021 prefeasibility study, 417,144 tonnes of zinc concentrate and 194,004 tonnes lead concentrate are expected to be produced over the mine life. Qualified person Mark Haywood, BEng (mining engineering) (honours), LLB, of Scotia Mine Ltd. and EDM Resources, a qualified person as defined under National Instrument 43-101, has approved the technical information contained in this news release. About EDM Resources Inc. EDM is a Canadian exploration and mining company that has full ownership of the Scotia mine and related facilities near Halifax, N.S. Through its wholly owned subsidiary, EDM also holds several prospective exploration licences near its Scotia mine and in the surrounding regions of Nova Scotia. The company's common shares are traded on the TSX Venture Exchange under the symbol EDM and the Frankfurt Stock Exchange under the symbol P3Z. We seek Safe Harbor.