EDM Resources Inc. announce that it has made significant progress on the required approvals and permitting that is necessary for the restart of the Scotia Mine. Advancement of Department of Fisheries and Oceans (the ?DFO?) requests for granting of the Fisheries Act Authorization (?FAA?) which is required for operationalizing the Scotia Mine · Completion of two of four seasons of sampling for Atlantic Salmon DNA as required by DFO with results yielding no Atlantic Salmon DNA · Completion of primary hydrogeological and surface water studies to understand potential groundwater impact as required by the DFO. Completion of reconnaissance work to identify potential locations for stream and/or river restoration required by the DFO for the fish habitat offsetting plan As previously announced on August 18, 2023, the Company was advised that the DFO required additional information in connection with the FFA application, including a more expanded and in-depth application than previously necessary.

The granting of the FFA by the DFO is the final permitting approval required to commence mining operations at the Scotia Mine (the ?Scotia Mine? or, the ?Project?). The DFO's primary objective is to ensure the Project has developed a comprehensive Fisheries Offsetting Plan that demonstrates mitigation and offsetting of any potential impacts on fish and fish habitat within the Project area.

EDM has diligently collaborated with third-party consultants to assess various options for fish offsetting. The Company's primary focus has been on instream habitat restoration and enhancement projects, with a focus on: demonstrating the absence of Atlantic Salamon within the Gays River through eDNA testing; studying the impact of surface and ground water of the future operation on the impact of the nearby Gays River; and, creating an offsetting plan to replace any fish habitat that may be impacted through operations. EDM has been working with McCallum Environmental and GHD to conduct a comprehensive four-season ecological study to demonstrate to the DFO, that the nearby Gays River does not contain Atlantic Salmon and the Project's mining activities will not interfere with the Inner Bay Of Fundy (IBOF) Atlantic Salmon Habitat.

The Company has completed two-seasons (summer and fall 2023) of eDNA testing and the results to-date have yielded no Atlantic Salmon DNA present. EDM is continuing with the remaining two seasons of testing which is expected to be completed by May 2024. Groundwater Studies and Fish Habitat Offsetting Plan As part of the FFA application process, the DFO has requested that EDM study any potential relationship with the Project's SW and Main Pits and the Gays River, and outline mitigation techniques the Project will employ to mitigate any potential impact.

EDM has completed primary hydrogeological and surface water studies showing the zone of influence of the Project's open pit. The Company is now working to complete the assessment via a secondary hydrogeological study of the particular potential impacts and mitigation techniques to satisfy the DFO. The DFO also requires an offsetting plan to be submitted with the FAA application to offset any harmful impacts that may occur to fish habitat.

EDM's consultants McCallum Environmental have completed reconnaissance work to identify potential nearby areas in Nova Scotia where stream and/or river restoration could occur for the offsetting plan. Once the extent of the potential impact to any fish habitats have been quantified, McCallum Environmental will determine the amount of offsetting that will be required to satisfy the FFA application.