Ms. Wendy Chan reports

LODE GOLD EXECUTES AGREEMENT WITH AXIOM TO INITIATE DRILL TARGETING PLAN FOCUSED ON RIRGS TARGETS AT WIN AND GOLDEN CULVERT IN YUKON

Lode Gold Resources Inc. has engaged the services of Axiom Exploration Group Ltd. of Saskatoon, Sask. Axiom's primary role will be to supply geological and field technical staff along with equipment for the company's forthcoming field program. This program will target four distinct RIRGS (reduced intrusion-related gold system) prospects named Border, Steelhead, Stingray and Camp. Among these, the Border prospect on the Win property is the most developed, exhibiting RIRGS-style gold mineralization in sheeted quartz veins hosted within hornfels, along with high bismuth-to-gold ratios. The company's efforts will concentrate on this prospect, aiming to identify drill targets at Border for drill testing in the later part of the season. The entire operation will be overseen by Buddy Doyle, Gold Orogen's vice-president of exploration, a seasoned explorer with a 40-year career marked by numerous significant discoveries.

Axiom is well positioned to execute this work effectively, leveraging its team of diverse geoscientists with extensive experience gained across Canada and internationally. The company's professionals are equipped with cutting-edge industry knowledge and tools, ensuring the provision of reliable and accurate data. Additionally, Axiom's in-house field equipment and established relationships with suppliers offer cost advantages through volume discounts, benefits that are typically unavailable to individual junior companies.

"We welcome the increased exploration investment and our ability to apply a systemic, technical approach to our prospective Golden Culvert and Win properties, in particular the added opportunities provided by the recognition of RIRGS in addition to the known orogenic styles of mineralization in the area," comments Jonathan Hill, director and head of the technical committee. "Prior exploration drilling has tested less than 10 per cent of the overall greater than 20-kilometre strike potential highlighted by our quality geochemical and geophysical data sets. We expect that the current work in 2025 will identify some compelling potential targets and progress them to initial drilling phases."

The program is being executed in two stages. The first stage takes place at the Border prospect, a high-altitude site near an ice field that benefits from its close proximity to the all-weather Highway 10. The crews will map the extent of the sheeted quartz veins and collect channel samples across the vein system. Additionally, they will search for other vein swarms within the large hornfels roof pendant delineated by the QMAGT survey conducted in 2024. To maximize planning time for the drill program, samples will be expedited for gold assays to obtain rapid results. Concurrent work on other RIRGS targets is also planned, particularly during periods when weather conditions restrict access to the Border prospect.

Phase 2 is scheduled to commence in August, 2025, featuring a 1,400-metre drill program consisting of seven holes, designed to test the targets generated during Phase 1.

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.

In Canada, its Golden Culvert and Win projects in Yukon, covering 99.5 square km across a 27 km strike length, are situated in a district-scale, high-grade, gold-mineralized trend within the southern portion of the Tombstone gold belt. A total of four RIRGS targets have been confirmed on the property. A National Instrument 43-101 technical report has been completed in May, 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co., consisting of an area that spans 445 sqaure km and a 44 km strike. McIntyre Brook covers 111 square km and a 17 km strike in the emerging Appalachian/Iapetus gold belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway project. Riley Brook is a 335 square km package covering a 26 km strike of Wapske formation with its numerous felsic units. An NI 43-101 technical report has been completed in August, 2024.

In the United States, the company is advancing its Fremont gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 grams per tonne Au in the 1930s.

Mining was halted in 1942 due the gold mining prohibition in World War II just as it was ramping up production. Unlike typical brownfield projects that are mined out, only 8 per cent of the veins have been exploited. The company is the first owner to investigate an underground high-grade mine potential at Fremont.

The project is located on 3,351 acres of private and patented land in Mariposa county. The asset is a four km strike on the prolific 190 km Mother Lode gold belt, California, that produced over 50 million ounces of gold, and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, Calif. The property has year-round road access, and is close to airports and rail.

Previously, in March, 2023, the company completed an NI 43 101 preliminary economic assessment (PEA). A sensitivity to the March 31, 2023, PEA at $2,000 (U.S.) per ounce gold gives an after-tax net present value of $370-million (U.S.) and a 31-per-cent internal rate of return over an 11-year life of mine. At $1,750 per oz gold, NPV (5 per cent) is $217-mimllion. 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 km strike of Fremont property. Three step-out holes at depth (up to 1,200 m) hit structure and were mineralized.

All NI 43-101 technical reports are available on the company's profile on SEDAR+ and the company's website.

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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