Ms. Wendy Chan reports

LODE GOLD FREMONT GOLD MINE FAST-TRACKS DEVELOPMENT WITH 3,500 M FOR PRELIMINARY FEASIBILITY STUDY

Lode Gold Resources Inc. has accelerated an exploration and development strategy at its Fremont gold project in Mariposa county, California, aimed at fast-tracking the project toward a preliminary feasibility study with 3,500 metres of drilling in 2026 and subsequent feasibility study with 7,800 metres of drilling in 2028.

The company is advancing Fremont under a revised development approach focused on bulk underground mining, supported by a growing mineral resource estimate and strong geological continuity seen at its deposit situated along the Mother Lode structural corridor.

Preliminary feasibility study 2026: 3,500-metre drill program planned

As part of the initial phase of work, Lode Gold will undertake a 3,500-metre drilling program designed to support the continuing mineral resource estimate update and to advance technical studies required for the PFS.

Specifically, this program will include:

• 1,400 metres of metallurgical and geotechnical drilling in the Pine Tree-Josephine area where historically it was mined at an average grade of 10.7 grams per tonne;
• 600 metres of hydrological and infill drilling in the Pine Tree-Josephine area;
• 1,500 metres of stepout exploration drilling in the Chicken Gulch area.

The drilling is designed to further derisk the project by improving geological confidence, supporting mine design and expanding mineralization within the central structural corridor, where only a limited portion of the total strike length has been incorporated into current resource models. Ninety per cent of the resource of the 2025 MRE came from the Pine Tree-Josephine project. Mineralization shows a remarkable continuity and homogeneity in the grades similar to other greenstone and ophiolite hosted gold deposits. Gold has only been extracted previously in two of the seven deposits.

Jon Hill, technical committee chair and director of the board, commented: "At Fremont, the company has clearly demonstrated mineralization characteristics, especially grade by thickness and ounces per vertical metre metrics ideally suited for bulk underground mining and expedited development. Significant mineralization widths coupled with excellent grade continuity contribute to an already exceptional mineral resource inventory of some three Moz* defined to date over just an 800-metre strike segment of the broader four-kilometre mineralized trend identified to date at this project."

Chicken Gulch lies within the broader central Mother Lode structural corridor, where only approximately 20 per cent of the first 500 metres of strike length is currently included in the existing MRE.

The planned drilling aims to test extensions of mineralization along this corridor and potentially expand resource areas close to the central trend* (one g/t cut-off, 90 per cent inferred).

The company is targeting completion of the PFS by second quarter 2027

Bill Fisher, technical advisory board, added: "There are very few projects that can realistically advance to a prefeasibility study within a 15-month time frame. Fremont benefits from an extensive historical database, strong geological continuity and an easy to upgrade resource base, which together allow us to significantly accelerate the technical work required to reach that milestone."

Feasibility study 2028: 7,800-metre underground drill program planned

Following completion of the PFS, the company plans to undertake an additional 7,800-metre underground drilling program as part of the feasibility study stage.

This program will be conducted from two parallel exploration ramps, each approximately 2,200 metres in length, developed along the mineralized body. These ramps will provide direct underground access for drilling, significantly improving the accuracy of geological, geotechnical and metallurgical data collection.

Importantly, these exploration ramps are expected to be incorporated into the future mining operation, forming part of the initial underground development infrastructure and supporting a phased transition toward production.

The company is targeting completion of feasibility study by 2029.

Accelerated path to development

Wendy T. Chan, chief executive officer and director, Lode Gold, commented: "We are implementing a clear and disciplined strategy to fast-track Fremont from resource definition through to feasibility and ultimately development. The planned drilling programs are designed not only to support the PFS, but also to position the project for a seamless transition into the feasibility study stage and future mine development. Fremont is advancing as a scalable underground project with strong fundamentals and a clear path forward."

Advancing Fremont through the PFS and into the feasibility study represents a key step in unlocking the full value of the project. The last time Fremont reached a comparable level of technical advancement was in 1986 under a different development concept. The current strategy, focused on bulk underground mining, reflects both improved geological understanding and favourable market conditions, positioning the project for modern development.

About Lode Gold Resources Inc.

Lode Gold has key assets in Canada and United States.

The Fremont gold mine project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, Calif., with 43,000 m drilled, 10,000 underground channel samples, 14 adits and two shafts. Mining was halted in 1942 due to the gold mining prohibition during the Second World War. It was mined at 10.7 g/t when price of gold was $35 per oz. The preliminary economic assessment was completed in 2023. The PEA was based on 1.16 million ounces at 1.90 g/t Au within 19.0 million tonnes indicated, and 2.02 Moz at 2.22 g/t Au within 28 Mt inferred with a composite cut-off.

The mineral resource estimate was updated in 2025, and 92 per cent of the ounces were left unmined. Average true widths at one g/t cut-off were 53 m. The project sits on greater than 3,000 acres of 100-per-cent-owned private and patented land, which is designated as OZ, Trump administration opportunity zone (special tax incentives).

The Dingman property is an orogenic deposit in Ontario, Canada, with over 22,000 m drilled, with a 2013 PEA and an MRE: 376,000 oz at 0.94 g/t (measured and indicated) and 47,000 oz at 0.71 g/t (inferred).

Qualified person

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

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