Ms. Wendy Chan reports

LODE GOLD EVALUATES UNDERGROUND MINING POTENTIAL AT DINGMAN GOLD PROJECT (ONTARIO) & INITIATES NEW GEOLOGICAL MODEL (MRE: 376,000 OZ AU M&I + 47,000 OZ AU INFERRED)

Lode Gold Resources Inc. has initiated a new geological model, including lithological and structural interpretations, for its wholly owned Dingman gold project, located in Ontario, Canada, currently with a National Instrument 43-101 resource of 376,000 ounces gold in the measured and indicated categories using a cut-off of 0.94 gram per tonne and 47,000 ounces gold in the inferred category with a cut-off of 0.71 g/t Au. Lode Gold is evaluating options to advance the Dingman project and unlock value for shareholders. Options being explored include seeking a joint venture partner or a spinout.

This is a centrally located project in Hastings county, Ontario, 175 km northeast of Toronto. The project is road accessible with regional infrastructure in the prolific Timmins gold camp in Ontario, which has produced over 70 million ounces gold historically and with projects in operations for 110 years. Timmins is known globally with world-class mines deep mining heritage, strong government incentives, streamlined permitting, and strong local support and mining services sector and community nearby.

The Dingman project has historically been evaluated using an open-pit mining concept, including a preliminary economic assessment (PEA) completed in 2013, which demonstrated positive project economics at a gold price of $1,800 (U.S.) per ounce.

This is a brownfields project with an excess of 22,000 metres of diamond drilling a previously completed NI 43-101 technical report and mineral resource estimate completed in 2022. The project is road accessible, approximately 100 kilometres from Belleville and 150 kilometres from Kingston.

Based on a recent technical review, the company believes that the geological framework of the deposit supports a re-evaluation focused on structurally controlled, higher-grade gold mineralization with potential application for underground mining methods.

Geological modelling approach

The new geological model will focus on defining shear-hosted gold structures that exhibit strong structural controls within the Dingman granite and associated alteration zones. These structures are interpreted to form continuous mineralized bands approximately five to 10 metres in width, which may be amenable to underground extraction.

This approach differs from previous interpretations that applied broader grade envelopes optimized for open-pit scenarios. The updated geological model aims to improve the understanding of mineralization controls, continuity and geometry and to better align the project with current gold prices and modern underground mining concepts.

The company notes that this shift in geological focus at Dingman is conceptually similar to the evolution of its Fremont gold project in California. At Fremont, early evaluations emphasized open-pit concepts while subsequent work demonstrated that structurally controlled, higher-grade mineralization was more appropriately assessed within an underground mining framework. Lode Gold believes that a comparable reinterpretation at Dingman may provide a more accurate representation of the deposit's geometry, grade distribution and development potential under current gold market conditions.

Future mineral resource estimation

Upon completion of the new geological model, the company intends to proceed with a new mineral resource estimate (MRE), which will be completed in accordance with NI 43-101 standards and reviewed by independent qualified persons.

The forthcoming MRE will incorporate the updated geological interpretation and will form the technical foundation for future project evaluation and development studies at Dingman.

Technical commentary

Jonathan Hill, director and chair of the technical committee of Lode Gold, commented: "The geological model is the critical first step in reevaluating Dingman. By focusing on the structural controls and higher-grade mineralization, we are building a framework that more accurately reflects the geometry and continuity of mineralization. This work will directly inform a future mineral resource estimate aligned with underground mining concepts."

Next steps

Work on the geological model is currently under way. Lode Gold will provide further updates as the interpretation advances and upon the completion of the revised mineral resource estimate.

Dingman gold project (Ontario)

The Dingman gold project is an advanced-exploration-stage brownfield gold project located in Ontario, Canada, with a history of technical evaluation and economic studies. The project was the subject of a preliminary economic assessment completed in 2013, which demonstrated economic viability under an open-pit mining scenario at a gold price of $1,800 (U.S.) per ounce. A subsequent mineral resource update completed in 2022 outlined a total resource of 376,000 ounces gold using a cut-off grade of 0.94 g/t in the measured and indicated categories and 47,000 ounces gold in the inferred category using a cut-off grade of 0.71 g/t. To date, the project remains largely undeveloped and has not progressed beyond the study stage.

Dingman is hosted within a large intrusive system and exhibits strong structural controls on gold mineralization. While historical work focused on broad grade envelopes suitable for open-pit mining, Lode Gold believes that, similar to its Fremont gold project, a modern geological reinterpretation emphasizing structurally controlled, higher-grade shear zones may better reflect the geometry and continuity of mineralization and support the evaluation of underground mining potential under current gold price conditions. The project benefits from a favourable tenure structure, with no land or option payments and no required assessment work filings until 2031, providing flexibility as technical work advances.

Qualified person

The technical information contained in this press release was reviewed and approved by Gary Wong, PEng, vice-president, exploration, of Lode Gold Resources, designated as a qualified person under NI 43-101.

About Lode Gold Resources Inc.

Lode Gold has key assets in Canada and United States.

The Fremont gold project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, Calif., with 43,000 metres drilled, 8,000 channel samples, 14 adits and two shafts. Mining halted in 1942 due to the gold mining prohibition during the Second World War. It was mined at 10.7 g/t when the price of gold was $35 per ounce. A PEA was completed in 2023. The PEA was based on one million ounces (M&I) and two million (inferred). An MRE was updated in 2025; 92 per cent of the ounces were left unmined. Average true widths at a cut-off grade of one g/t is 53 metres. The project sits on greater than 3,000 acres of 100-per-cent-owned private and patented land, which is designated as a Trump administration opportunity zone (with special tax incentives).

Gold Orogen (1475039 B.C. Ltd.) is an early-stage exploration pure play with quality assets in Yukon and New Brunswick, Canada. Optionality exists as assets are diversified on two mineral belts that are known to have prolific gold endowment.

A 19.9-per-cent strategic partner was brought in and a joint venture was formed to create one of the largest land packages in New Brunswick with mineral rights spanning 445 square kilometres.

The New Brunswick assets, McIntyre Brook and Riley Brook, sit on a highly prospective belt that has seen many exciting discoveries, including Dalradian, New Found Gold and Calibre Mining. Kinross-Puma surrounds McIntyre Brook.

In Yukon, Golden Culvert/Win sits on the southern end of the Tombstone belt, which, in recent years, has seen extensive exploration success. It has reduced intrusion-related gold system (RIRGS) targets and sedimentary-hosted orogenic mineralization. Over 4,500 metres have been drilled with 50-gram-metre intercepts.

The completion of Gold Orogen's spinout into a public company through a reverse takeover is imminent, presenting a unique and compelling opportunity to unlock shareholder value as two stand-alone public companies with clear trajectory for growth will be created.

The Dingman property is an orogenic deposit in Ontario, Canada, with over 22,000 metres drilled, with a 2013 PEA and MRE of 376,000 ounces (M&I) and 47,000 ounces (inferred).

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