Ms. Wendy Chan reports

TWO NEW REDUCED INTRUSIVE (RIRGS) TARGETS, TOTALLING FOUR, IDENTIFIED AT TOMBSTONE BELT, YUKON - GOLD OROGEN, NEW SPIN CO OF LODE GOLD

Lode Gold Resources Inc. has released the results of its continuing interpretation of data collected during the summer 2024 QMAGT survey.

Importantly, two additional reduced intrusion-related gold system targets Stingray and Camp have been defined on the Golden Culvert property as a direct result of incorporating the new geophysical data with existing geochemical data sets. These new targets complement the RIRGS targets already identified (a total of four highly prospective RIRGS targets, namely Border, Steelhead, Stingray and Camp) by Gold Orogen, subsidiary of Lode Gold, on its nearby WIN property.

Field verification of both the Stingray and Camp targets is scheduled for next season whereby geologists will endeavour to confirm the presence of the targeted hornfels and/or intrusive suites while collecting geochemical data from soils and rocks in the area. The Golden Culvert property is remarkable in that it contains a 15-kilometre-long soil and stream multielement gold, arsenic, plus or minus bismuth, plus or minus antimony, plus or minus lead, and plus or minus zinc geochemical anomaly, of which only a small 800-metre section (called Main) has seen drill testing. Prior exploration at Golden Culvert has already demonstrated an extensive gold-bearing, anastomosing quartz vein system hosted in metasediments considered to be an orogenic style of gold mineralization. The newly identified RIRGS targets significantly enhance the overall endowment potential at Golden Culvert, building upon the already considerable potential identified from the established orogenic styles of mineralization concentrated at the Main site, which have historically been the primary focus of exploration within this vast, high-potential area.

Highlights include:

• Recent QMAGT system geophysical results integrated with geology and historic geochemical information have identified two new RIRGS prospects on the Golden Culvert property named Stingray and Camp.
• The Golden Culvert property contains a remarkable 15-kilometre-long series of gold-in-soil anomaly trending northwest parallel to the regional structural fabric. One 800-metre zone has been drilled tested, the Main target (best result of 2.53 grams per tonne gold over 33.1 metres), and the rest is underexplored.
• The Stingray prospect is centred around a mapped Tombstone-tungsten quartz monzonite intrusion on the southern boundary. The QMAGT survey data suggest the intrusion is larger than mapped and most likely continue under a carapace of hornfels. Minimal historical work has been conducted in the past. There are stream sediments elevated in gold, arsenic and sulphur, and a small soil grid evidenced anomalous arsenic.
• The Camp prospect is a well-developed zone of soil and rock samples with anomalous gold and arsenic. The QMAGT survey has revealed this geochemical anomaly arcs to the southeast of a distinct magnetic low. The magnetic anomaly is interpreted to be a previously unmapped reduced intrusive.

Fieldwork is scheduled to initially map the extent of hornfels and intrusive, with soil and rock sampling to confirm and enhance the prospectivity of the company's projects.

The news release dated Oct. 15, 2024, focused on the RIRGS potential of the WIN property, and gave details on the reduced intrusive-related gold system model and the regional setting. For more information regarding RIRGS, please view the press release. In summary, based on the RIRGS model, the main exploration target is sheeted gold-bearing quartz veins hosted in the cupola (roof) of a reduced intrusion or in the surrounding hornfels (country rock altered by the heat of the intrusion). RIRGS exhibits metal zonation with arsenic (plus or minus gold) in the periphery and gold, bismuth and tellurium in the centre.

When interpreting the QMAGT data, for possible RIRGS, the prime criteria were the presence of a distinct magnetic low zone (the intrusive), often highlighted by an annular of magnetic highs (the hornfels), backed up by geochemical evidence.

This target is centred on a known, yet unnamed, quartz monzonite intrusion of the Tombstone-Tungsten Cretaceous intrusive suite, as it appears on the published regional geology maps.

The Camp target

The Camp target is a distinct magnetic low interpreted from a previously unknown reduced intrusive. It occurs in a river valley in an area of low topography, and it may not be an outcrop. On the southeast side of this magnetic low is an arc of anomalous soil and rock geochemistry that made up the previously recognized Camp prospect.

The Camp prospect has returned rock grab samples of up to 48.1 g/t Au from a quartz vein with some sulphides hosted within phyllites. The rock grab samples are nested in a coincident gold, arsenic and lead soil anomaly.

The elevated geochemistry is a distal expression of a possible RIRGS represented by the magnetic anomaly. Field crews will be directed to the area to search for hornfels and/or intrusives to confirm any RIRGS affinity.

Future plans

The 2025 field season plans are detailed after comprehensive analysis, consisting of geochemical information, geological mapping and extensive QMAGT data. The Stingray and Camp targets presented herein are amenable to rapid reconnaissance to confirm the presence of intrusives and hornfels. Confirmation of this will present new RIRGS prospects that were previously unexplored on the Golden Culvert property.

Filing on SEDAR+

Lode Gold has filed on SEDAR+ an amended National Instrument 43-101 technical report on its Golden Culvert and WIN properties in the Yukon Tombstone gold belt. The report was initially filed on July 15, 2024. A typographic error was noticed in the original, stating that the best drill interval on the Golden Culvert property was 12.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03, whereas the actual result was 2.53 g/t Au over 33.1 m from 111.5 m in hole GC18-03. The amended report corrects this error.

Both the original and amended reports were written by Marty Huber, PGeo, and Mark Fekete, PGeo.

About Lode Gold Resources Inc.

Lode Gold is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

Its Golden Culvert and WIN projects in Yukon, covering 99.5 square kilometres across a 27-kilometre strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone gold belt. Gold deposits and occurrences within the belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch, and Snowline Gold. An NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold" with an effective date of May 15, 2024, summarizing the work to date on these properties, is available on the company's profile on SEDAR+ and on the company's website.

In New Brunswick, Lode Gold has created one of the largest land packages with a 42-kilometre strike within 420 square kilometres. Its McIntyre Brook project, New Brunswick, covering 111 square kilometres and a 17-kilometre strike length in the emerging Appalachian/Iapetus gold belt, is surrounded by Puma Exploration's Williams Brook project (5.55 g/t Au over 50 m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway project. The Fancamp's Riley Brook is a 309-square-kilometre package covering a 25-kilometre strike of Wapske formation with its numerous felsic units. Previous exploration efforts have focused on just volcanogenic massive sulphide style mineralization hosted in the felsic intrusions, and mostly focused on the base metals. The company is the first to focus on and assay for gold. An NI 43-101 technical report entitled "Technical Report on the WIN-Golden Culvert Property for Lode Gold," summarizing the work to date on these properties, is available on the company's profile on SEDAR+ and on the company's website.

The company is also advancing its Fremont gold development project in the historic Mother Lode gold belt of California, where 50 million ounces of gold have been produced. Fremont, located 500 kilometres north of Equinox Gold's Castle Mountain and Mesquite mines, has a preliminary economic assessment with an after-tax net present value (5 per cent) of $217-million (U.S.), a 21-per-cent internal rate of return and an 11-year life of mine, averaging 118,000 ounces per annum at $1,750 (U.S.) gold. A sensitivity to the March 31, 2023, PEA at $2,000 (U.S.) per ounce gold gives an after-tax NPV (5 per cent) of $370-million (U.S.) and a 31-per-cent IRR over an 11-year LOM. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 million tonnes indicated and 2.02 Moz at 2.22 g/t Au within 28.3 million tonnes inferred. The mineral resource estimate evaluates only 1.4 km of the four-kilometre strike length of the Fremont property, which features five gold mineralized zones. Significantly, three stepout holes at depth hit the mineralized structure, typical of orogenic deposits that often occur at depth. Fremont is located on 3,351 acres of 100-per-cent-owned private land in Mariposa, the original Gold Rush county, and is 1.5 hours from Fresno, Calif. The property has year-round road access and is close to airports and rail.

Please refer to the Fremont gold project NI 43-101 PEA technical report dated March 31, 2023, which is available on the company's profile on SEDAR+ and on the company's website. The PEA technical report has been reviewed and approved by independent qualified persons Eugene Puritch, PEng, FEC, CET, and Andrew Bradfield, PEng, both of P&E, and Travis Manning, PE, of KCA.

Qualified person statement

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, director, BSc (honours) (economic geology -- UCT), FAusIMM, who is a qualified person as defined by NI 43-101.

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