Ms. Wendy Chan reports

LODE GOLD INITIATES EXPLORATION TO EVALUATE UPSIDE POTENTIAL AT HISTORIC HIGH-GRADE MINES WITHIN FREMONT GOLD MINE

Lode Gold Resources Inc. is initiating exploration work to evaluate additional gold potential at its 100-per-cent-owned Fremont gold mine, located on privately owned patented land in Mariposa county, California.

Fremont is a historically producing gold mine comprising seven deposits and four former mines, supported by significant existing infrastructure, including approximately 23 kilometres of underground workings, 14 adits, two shafts and 43,000 metres of historical drilling. Gold production, which historically averaged 10.7 grams per tonne, was halted in 1942 during the Second World War, when gold was priced at approximately $35 (U.S.) per ounce.

The company's 2026 National Instrument 43-101 mineral resource estimate (MRE) includes resources from only three of Fremont's seven identified deposits. To date, Lode Gold's primary focus has been on evaluating a potential mine plan for the Pine Tree-Josephine deposit.

The Fremont property encompasses approximately 3,351 acres of privately owned patented land along a four-kilometre mineralized trend. Historical exploration has covered less than 20 per cent of the property, with much of the work concentrated along a strike length of just over 800 metres.

With mineralization remaining open along strike and at depth, Lode Gold is expanding its evaluation to include all seven deposits and nine additional exploration targets identified through Vrify's geological targeting work. The company is also evaluating the potential of its previously producing mines, beginning with French mine as the first satellite deposit under review.

In addition to the French mine, the company has identified two other historical mining areas, Ogle Lease and Evans, where exploration work has not yet commenced. The systematic evaluation of these historical mines and additional targets forms part of Lode Gold's broader strategy to investigate opportunities to expand the known mineral potential of Fremont beyond its currently defined resources.

Fieldwork is currently under way, together with the recovery, compilation and review of historical geological and operational records, including archived mine plans and cross-sections, historical production statistics, and previous exploration data. This work will support the development of a three-dimensional geological model to evaluate the geometry and continuity of mineralized structures and their potential contribution to Fremont's future development.

The French mine: a high-grade satellite opportunity

The French mine was historically operated during the 1930s, with reported gold grades of 10.7 grams per tonne gold. Located approximately two kilometres by truck from the Pine Tree-Josephine area, the mine represents a potential high-grade satellite opportunity that could benefit from its proximity to the company's principal development area.

The company is currently conducting fieldwork while compiling and reviewing historical mine plans, geological cross-sections, production statistics and previous exploration data, including drilling results and core samples from the 2016 campaign, surface channel samples collected in 2014 and historical underground samples. This work will support the assessment of the geometry, continuity and grade distribution of the mineralized structures and their potential mining characteristics.

If its geological and mining potential can be established, the French mine could provide a source of higher-grade material to complement production from Pine Tree-Josephine through blending, potentially improving the grade of the planned production feed. This opportunity remains subject to further geological evaluation, technical studies, and mining, metallurgical and economic assessments.

Wendy T. Chan, chief executive officer and director of the board of Lode Gold, commented: "With production halted when gold was approximately $35 (U.S.) per ounce, we wonder how much more gold remains to be discovered at Fremont. Fremont was the second gold project in 1849 to contribute to the California gold rush, and the Mother Lode belt has a rich mining history. We believe there could be significant upside at the previously producing mines on our property that we have yet to fully explore. Our main deposit, Pine Tree-Josephine, has an unusual triangular shape, and we have yet to drill test its potential mirror-image extension. Three deep stepout holes, reaching depths of up to 1,300 metres, intersected mineralized structures. We are actively advancing the project and expect to provide further news over the next 30 to 90 days."

The company is reviewing and organizing the historical database for the French mine, including archived mine production, geological cross-sections and other historical technical records. This work is intended to reconstruct the geometry of the underground workings, the relationship between the mineralized structures and the historical mining development, and the available evidence of mineralization along the vein system.

The company has also recovered and compiled historical production statistics, providing additional information for the assessment of the mine's previous operating history.

As part of the re-evaluation, Lode Gold has reviewed several existing data sets, including drill core samples and assay results from the 2016 drilling campaign, surface channel samples collected in the French mine area in 2014, and historical underground samples collected during earlier mining operations that are currently under digitization. Integrating these data sets will help the company assess the distribution of gold mineralization and investigate the potential continuity of the mineralized structures.

Geological setting and vein structure

The French mine comprises a series of narrow, gold-bearing vein structures hosted by greenstone rocks near their contact with phyllites and slates. The mineralization is associated with a low-angle tensional shear zone dipping approximately 30-degree within the host rocks. This structural orientation is distinct from the lithological contact, which has a different geometry. At least three mineralized structures have been identified: the French vein, the North vein and the South vein.

Understanding the relationship between the shear zone, the lithological contact and the individual veins is an important component of the continuing re-evaluation. The company is integrating these structural relationships with historical underground workings and existing exploration data to assess vein geometry, continuity and potential implications for future mine planning.

Three-dimensional geological modelling

The next stage of work will focus on integrating the historical mine workings, geological interpretations, sampling results and drilling data into a three-dimensional geological model. The model is intended to improve the company's understanding of the geometry and continuity of the French mine vein system, provide a framework for comparing historical mining with modern exploration data, and help identify areas that may warrant further investigation.

Jon Hill, director of the board and chair of the technical committee at Lode Gold, commented: "The high grades historically recorded at French mine provide an encouraging starting point for our technical evaluation. Our focus now is on assessing the continuity of mineralization, minable widths and the geometry of the vein structure, together with important considerations such as dilution and underground access. This work will help us determine the potential for French mine to contribute to a future mining operation at Fremont."

The company believes that the combination of historical production records, underground development information and existing sampling data provides a useful foundation for reassessing the French mine within the broader Fremont project. The resulting geological model will help determine the extent to which this narrow, potentially high-grade structure could complement the development strategy for Pine Tree and contribute to future technical evaluations of the project.

The re-evaluation is continuing, and the company will assess the results of the integrated geological interpretation before determining the next appropriate steps.

About Lode Gold Resources Inc.

Lode Gold has key assets in United States and Canada.

The Fremont gold mine (Fremont Gold Mining LLC) is a brownfield project in Mariposa county, California, with 43,000 metres drilled, 10,000 underground 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 grams per tonne when the price of gold was $35 per ounce. A PEA (preliminary economic assessment) was completed in 2023. The PEA was based on 1.16 million ounces at 1.90 grams per tonne gold within 19.0 million tonnes indicated and 2.02 million ounces at 2.22 grams per tonne gold within 28 million tonnes inferred with a composite cut-off. The MRE was updated in 2026; 89 per cent of the ounces were left unmined if the company compares historical production with its current indicated resource. Average true widths at one-gram-per-tonne cut-off are 53 metres. The project sits on greater than 3,000 acres of 100-per-cent-owned private and patented land that 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 metres drilled, with a 2013 PEA and MRE: 376,000 ounces at 0.94 gram per tonne within 12.5 million tonnes measured and indicated and 47,000 ounces at 0.71 gram per tonne within 2.1 million tonnes 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 NI 43-101.

We seek Safe Harbor.