Ms. Wendy Chan reports

LODE GOLD COMMENCES METALLURGICAL DRILLING AT FREMONT GOLD MINE, MARIPOSA, CA

Lode Gold Resources Inc. has commenced metallurgical drilling at the company's flagship Fremont gold mine in California.

Key scope of the engineering services:

• Metallurgical representativeness and QA/QC (quality assurance/quality control): professional oversight of PQ core sampling protocols within early-stage zones to ensure optimal material mapping for future definitive composites;
• Advanced flowsheet optimization: engineering design and structuring of multiphase metallurgical programs, balancing gravity circuit performance with optimal particle size reduction;
• Operational and capital efficiency: evaluating modern processing configurations aimed at optimizing future capital expenditure (capex) and operating costs (opex).

The metallurgical and engineering company will collaborate with Lode Gold's geology team to establish robust metallurgical criteria and optimize core collection protocols for the upcoming large-diameter (PQ) drill program. This phase of drilling will be focused on the areas where the company plans to develop the mine.

To maximize project economics, various recovery methods will be evaluated. Trade-off studies will be conducted to evaluate gravity versus flotation recovery to ensure permitting expediency and return on investment.

Conventional flotation circuits are aligned with historical mine production layouts while gravity recovery and coarse-particle sorting circuits tend to be more modern and highly efficient. By involving process engineers prior to the drill turning, Lode Gold is ensuring all baseline sample data is optimized right from the outset. This approach aims to maximize future processing efficiency, evaluate opportunities to optimize grinding size requirements and ultimately enhance overall value proposition.

The upcoming exploration and drilling program at Fremont is currently scheduled to commence in summer 2026.

"Previously, the 2014 metallurgical report confirmed a 91-per-cent recovery. We are conducting a new study to validate the information," says Jon Hill, director and chair of the technical committee at Lode Gold.

About Lode Gold Resources Inc.

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

The Fremont gold mine project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, Calif., with 43,000 metres (m) drilled, 10,000 underground channel samples, 14 adits and two shafts. Mining halted in 1942 due to the gold mining prohibition during the Second World War. It was mined at 10.7 grams per tonne (g/t) when price was gold was $35 per ounce (oz). A preliminary economic assessment (PEA) was completed in 2023. The PEA was based on 1.16 million oz at 1.90 g/t gold (Au) within 19.0 million tonnes (t) indicated and 2.02 million oz at 2.22 g/t Au within 28 million t inferred with a composite cut-off (1). The mineral resource estimate (MRE) was updated in 2026; 89 per cent of the ounces were left unmined if the company compares historical production with its current indicated resource. Average true widths at one g/t cut-off is 53 m. The project sits on more 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).

The 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 million t measured and indicated, and 47,000 oz at 0.71 g/t within 2.1 million t inferred.

Qualified person

The technical information contained in this news release was reviewed and approved by Gary Wong, PEng, vice-president of exploration of Lode Gold, designated as a qualified person under National Instrument 43-101.

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