Ms. Wendy Chan reports

LODE GOLD'S UPCOMING SPIN CO, GOLD OROGEN, DEFINES 2025 NEW BRUNSWICK EXPLORATION TARGETS; REPORTS GOLD-IN-SOIL AND EM ANOMALIES IDENTIFYING HIGHLY PROSPECTIVE MINERALIZED SYSTEMS AT MCINTYRE BROOK

Lode Gold Resources Inc. will release 2025 exploration targets for its phase 1 exploration program of its subsidiary, Gold Orogen, which will be spun out as a separate public company in March, 2025, pending exchange and shareholder approval. The annual shareholder meeting is set for March 10, 2025. Shareholders of Lode Gold as of the record date will be eligible to receive shares of the new SpinCo (Gold Orogen). This tax-efficient spinout is to ensure maximum return on investment for shareholders.

Gold Orogen has formed a joint venture company, Acadian Gold, with Fancamp, creating one of the largest land packages on the Iapetus suture belt in New Brunswick. This potential district-scale play covers 445 square kilometres. Atlantic Canada, especially New Brunswick, equipped with excellent infrastructure and geopolitics, is underexplored yet highly prospective for both gold and polymetallic minerals. In recent months, majors such as Kinross, Equinox Gold and others have strategically made advancements in the area.

The potential for highly prospective mineralized systems at McIntyre Brook has been evidenced with the integration of soil geochemistry and geophysical data. In January, 2024, the company confirmed gold endowment in mineralized rhyolites in McIntyre Brook. The geology is consistent with the surrounding Puma/Kinross joint venture property. These results build positively on previously announced findings and enhance the potential for a gold-copper discovery at McIntyre Brook. Of note, a small test drill program was conducted in 2019. Both holes were mineralized with a best intercept of 5.73 grams per tonne gold in a broader 20-metre zone of 1.20 g/t Au. New targets are being identified for further work in the coming 2025 exploration program.

The HeliTEM2 survey and soil geochemistry work completed in November, 2024, at McIntyre Brook revealed electromagnetic conductors near gold-in-soil anomalies, suggesting potential nearby gold mineralization (refer to press releases dated Oct. 15, 2024, and Jan. 20, 2025).

Highlights:

• The heliborne HeliTEM2 survey revealed, among other aspects, the presence of a series of EM conductors in the northeastern part of the McIntyre Brook property, which create an open ellipsoid over a significative area.
• The initial soil geochemical survey conducted in November, 2024, at the periphery of the southeastern and northeastern area of the conductors revealed the presence of gold-in-soil anomalies associated with arsenic, antimony and tungsten anomalies.
• The area is also characterized by a 275-part-per-billion-gold stream sediment anomaly downstream from the conductive area. This sample was the highest value returned from the 1981 regional stream sampling program conducted in the area by the Geological Surveys Branch of the government of New Brunswick.

These new results from McIntyre Brook reveal coincident gold-in-soil anomalies and prominent electromagnetic conductors, significantly enhancing the potential for a substantial gold-copper discovery. These promising targets are situated within the geologically favourable Wapske formation, structurally defined by the McIntyre Brook and Ramsay Brook faults.

Furthermore, analysis of new HeliTEM2 magnetic and radiometric data has identified additional faulting and a coincident elevated radiometric signature, potentially indicative of rhyolites or hydrothermal activity -- key indicators of significant gold mineralization in the Wapske formation. Consequently, this area at McIntyre Brook has been designated a high-priority target for Gold Orogen's 2025 New Brunswick exploration program, offering considerable potential for a new gold discovery.

"It's satisfying to see phase 1 of exploration in New Brunswick yield such encouraging results. The coincident geochemical and EM findings, along with the previously reported results at Riley Brook, clearly outline the path forward," commented Jonathan Hill, director of the board and chair of the technical committee. "We'll be conducting soil sampling and trenching in both areas, which will help generate and ultimately test drill targets. We anticipate field crews will begin this work once we finalize the exploration plan."

With the complete data set from the 2024 New Brunswick exploration program received, target generation is progressing, and the 2025 exploration plan will be finalized in the coming weeks.

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 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. A total of four reduced intrusion-related gold system targets have been confirmed on the property. A National Instrument 43-101 technical report was completed in May, 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV company, consisting of an area that spans 445 square kilometres and a 44-kilometre strike. McIntyre Brook covers 111 square kilometres and a 17-kilometre 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 kilometre package covering a 26-kilometre strike of Wapske formation with its numerous felsic units. An NI 43-101 technical report was 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 metres drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1930s.

Mining was halted in 1942 due to the gold mining prohibition in the Second World War 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 has a four-kilometre strike on the prolific 190-kilometre 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. 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 (U.S.) per oz gold, NPV (5 per cent) is $217-million (U.S.). The project hosts an NI 43-101 resource of 1.16 million ounces at 1.90 grams per tonne gold within 19.0 million tonnes indicated, and 2.02 Moz at 2.22 g/t Au within 28.3 MT inferred. The mineral resource estimate evaluates only 1.4 km of the four-kilometre strike of the Fremont property. Three stepout holes at depth (up to 1,200 metres) 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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