Lode Gold Advances Fremont Gold Mine with New Mineral Resource Model Incorporating Historical Data

Lode Gold Resources Inc has initiated a new Mineral Resource Estimation block model for its Fremont Gold Project in Mariposa, California, incorporating over 7,000 historical underground channel samples previously unavailable in digital format. This expanded dataset, recovered from original mine level maps and plans, significantly increases data density within historically mined areas of the deposit. The updated model will reinterpret the Fremont deposit as a continuous mineralized body rather than discrete vein-only domains, aligning with the company's strategic focus on bulk underground mining as outlined in recent technical and economic studies.

The new approach will evaluate the resource using a lower cut-off grade supported by updated underground mining cost assumptions provided by local contractors. Jonathan Hill, Director and Chair of the Technical Committee of Lode Gold, stated that this model represents an important evolution in interpreting the Fremont deposit by aligning the geological model with a bulk underground mining approach that better reflects the system's scale, continuity, and mining potential. The inclusion of this additional dataset is expected to enhance geological continuity, improve grade distribution confidence, and support evaluation of wider mining widths consistent with bulk underground mining scenarios.

The Fremont Gold Mine is an advanced exploration and early development brownfield project previously mined at 10.7 grams per tonne until production halted in 1942 during World War II gold mining prohibitions. Located on the prolific 190 km Mother Lode Belt, the property features seven deposits along a 4-kilometer strike length, with only two having seen exploitation. According to the 2025 mineral resource estimate, only 8% of the resource has been exploited, leaving 92% available for future mining. The project has substantial infrastructure including 42,717.3 meters of drilling, 8,593 underground channel samples, 23 kilometers of underground workings, and sits on 3,351 acres of patented private land with 100% ownership of surface and mineral rights.

The new Mineral Resource Estimation is being completed in accordance with NI 43-101 standards, with further updates to be provided once work is finalized and reviewed by Qualified Persons. Technical reports on the company's properties are available on the Company's profile on SEDAR+ and the Company's website at https://www.lode-gold.com. The company recently completed an internal scoping study evaluating potential resumption of operations at Fremont based on 100% underground mining, following a March 2023 Preliminary Economic Assessment that evaluated mixed open pit and underground mining approaches.