Ms. Wendy Chan reports

LODE GOLD UPSIZES PRIVATE PLACEMENT TO $9M; CLOSES FIRST TRANCHE $8M

Due to strong investor demand, Lode Gold Resources Inc. has upsized private placement to $9-million and it has closed an $8-million first tranche. This non-brokered over subscribed private placement financing was previously announced on July 13, 2026. The second and final tranche will close on or before July 31, 2026.

The company has issued 29,845,074 units at a price of 27 U.S. cents per unit, for aggregate gross proceeds of approximately $8.06-million. All securities issued will be subject to a statutory hold period in accordance with TSX Venture Exchange policies. Closing of the financing is subject to receipt of approval from the TSX Venture Exchange.

Each unit comprises one common share and one common share purchase warrant. Each warrant shall entitle the holder to purchase one additional share at an exercise price of 45 cents for a period of 36 months following the date of issuance. The warrants contain an acceleration clause whereby if the closing price of the shares is equal to or exceeds 80 cents for a period of 10 consecutive trading days, the company may accelerate the expiry of the warrants such that the warrants will expire 30 days from the date that the company provides notice of acceleration.

Insider participation -- Coast Capital, a key institutional shareholder of Lode Gold, subscribed for 5,185,185 units for gross proceeds of $1.4-million, representing 17 per cent of the offering's first tranche closing. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.

Proceeds from the offering will be used to advance technical work at the Fremont gold mine, strengthen the balance sheet and provide general working capital. Specifically relating to Fremont, the focus of technical work will include the upcoming drill program in support of a preliminary feasibility study (PFS), metallurgical, geotechnical, and rock mechanic studies and engineering. An initial mine plan will be developed to initiate environmental and permitting work later this year.

About Lode Gold Resources Inc.

Lode Gold has key assets in Canada and the United States.

Fremont gold mine project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, Calif., 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 World War II. It was mined at 10.7 grams per tonne when price was gold was $35 per ounce. PEA was completed in 2023. The PEA was based on 1.16 Moz at 1.90 g/t Au within 19.0 Mt (million tonnes) indicated, and 2.02 MOz at 2.22 g/t Au within 28 Mt inferred with a composite cut-off. The MRE was updated in 2026; 89 per cent of the ounces were left unmined if we compare historical production with the company's current indicated resource. Average true widths at one g/t cut-off is 53 metres. Project sits on greater than 3,000 acres of 100-per-cent-owned private and patented land, which is designated as OZ, Trump Administration Opportunity Zone (Special Tax Incentives).

Dingman property is an orogenic deposit in Ontario, Canada, with over 22,000 m drilled, with a 2013 PEA MRE: 376,000 oz at 0.94 g/t within 12.5 Mt measured and indicated and 47,000 oz at 0.71 g/t within 2.1 Mt 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.