Vancouver, British Columbia--(Newsfile Corp. - October 14, 2026) - Lodestar Metals Corp. (TSXV: LSTR) (OTCQB: SVTNF) (FSE: PR90) ("Lodestar" or the "Company"), an exploration company focused on gold and silver exploration in Nevada, reports assay results from eight additional reverse-circulation ("RC") holes of its maiden 2,860m drill program at the flagship Gold Run project in Nevada.

Eight holes for 902 m of drilling at the Black Diamond target resulted in the intersection of high-grade silver mineralisation for the first time as a direct result of targeting and IP chargeability combined with elevated silver and gold in surface geochemistry.

Highlights:

Note: Reported intervals are drill-hole lengths. True widths are estimated at 85-95% of reported intervals.

• First high-grade silver intercept from Black Diamond Prospect.
• Results further support the Company's view that IP chargeability anomalies can identify structurally controlled, higher-grade silver or gold mineralisation at Gold Run.
• Lodestar drilling has intersected silver-gold mineralisation over approximately 850 m of strike, open along strike and at depth.
• DDIP surveys and surface geochemistry programs by Lodestar demonstrate mineralised structural corridor for at least 1km and highlighted new target areas to follow up.
• Assays remain pending from 2 RC holes (312m) at the Crown North target.

"Results from Black Diamond provide yet further evidence that the Gold Run project holds a diverse range of mineralisation styles that Lodestar continues to unlock," said Lowell Kamin, President & CEO of Lodestar Metals. "Our strategy of following up surface geochemistry and DDIP anomalies has again proven successful and has resulted in a discovery at Black Diamond which may represent a separate silver-rich mineralised system and another strong target for follow-up drilling."

Figure 1. UAV Magnetics map (TMIRTP) showing structural interpretation, maximum gold assays from previous drilling and selected highlight composite assay results from the Lodestar 2026 drilling at Robbers Knob, Gomes and now Black Diamond.

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Black Diamond Drilling

Lodestar completed eight RC holes totaling 902 metres at Black Diamond as part of its 18-hole, 2,680-metre maiden drilling program at Gold Run. The program tested four priority gold-silver targets: Robbers Knob, Gomes, Black Diamond and Crown North.

The Black Diamond program was designed to test a combination of IP chargeability anomalies, highly elevated silver and gold-in-soil as well as rock assays that returned significant silver and gold mineralisation (up to 3307 g/t Ag and 2.4 g/t Au*) that was interpreted to extend over 1km strike. (*Rock grab samples are selective by nature and may not be representative of the mineralisation on the property). All eight holes intersected silver-gold mineralisation, with high-grade silver in LSRC13 and LSRC14 and lead and zinc credits in some intervals. The best results are in the central area of the structure as a direct result of following up a DDIP anomaly that intersected:

• 15.2m at 102.2 g/t Ag Eq (79.5 g/t Ag, 0.20 g/t Au, 0.25% Pb and 0.44% Zn) from 50.3 m in LSRC13; and
• 12.2m at 98.3 g/t Ag Eq (85.6 g/t Ag, 0.12 g/t Au, 0.19% Pb and 0.19% Zn) from 48.8 m in LSRC14 (Figure 2).

Figure 2. 3D View looking north and down at Central Black Diamond showing the IP chargeability anomaly (red-pink) in relation to significant intercepts from LSRC-13 and LSRC-14 as well as highly elevated silver-in-soil points and high grade rock assay also by Lodestar.

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Drilling by Lodestar has intersected gold-silver mineralisation over approximately 850 m of the structural zone with shallow mineralisation in the northern extent within the mining patent of 10.7m at 0.6 g/t Au and 9.7 g/t Ag from 9.1m in LSRC10 (Figure 1). Drilling the southern extent of the structure intersected 7.6m at 36.8 g/t Ag Eq (17.9 g/t Ag, 0.2 g/t Au, 0.23% Pb and 0.15% Zn) from 91.4 m in LSRC16 (Figure 1).

The mineralisation occurs strongly associated with significant manganese (0.1-4% Mn) with disseminated sulphides often associated with narrow felsic dikes hosted in carbonaceous siliclastic phyllites. The mineralisation style looks very similar to the manganese-rich polymetallic mineralisation that was intersected in LSRC02 at depth beneath Robbers Knob (See news release on August 5, 2026). Importantly, mineralisation at Black Diamond remains open along strike as well as up- and down-dip.

Discussion and Expansion Potential

All the exploration work by Lodestar in the leadup to drilling which includes soil sampling (See news release on October 28, 2025) and DDIP surveys (See news release on March 10, 2026) strongly supports Black Diamond as at least an extensive one kilometer-long structural zone of silver-gold mineralisation and drilling has now validated this hypothesis with higher grade discovery holes LSRC13 and LSRC14. Lodestar also believes that it is highly possible that Black Diamond could represent a complex array of multiple structures as indicated by two zones of polymetallic mineralisation in LSRC12 (Table 2). Lodestar plans to follow up Black Diamond with some deeper drilling to test the extent of mineralisation to depth and also to test for multiple stacked structures.

Pending Assays

Assays are pending for 2 additional holes totaling 312 m at Crown North which drill tested the projected northern extension of the Adelaide Crown epithermal gold deposit held by Nevada Gold Mines. Mineralisation on adjacent properties is not necessarily indicative of mineralisation on the Gold Run project.

Sampling Procedures and QA/QC

RC holes were drilled by HD Drilling using a 5.5″ hammer with a 5¼″ M40CC hammer bit and reverse circulation methods to minimize contamination and maximise sample size. In some deeper sections of certain RC holes, a 5″ hammer was used to achieve greater depth penetration.

Reverse circulation (RC) drilling was used to obtain representative drill cuttings for geological logging and laboratory assaying. Samples were collected at 5 ft (1.52 m) intervals. Drill cuttings from each interval passed through the cyclone and were split using a rig-mounted rotary splitter. A representative split of approximately 4-9 kg was collected into cloth sample bags for assay. RC drilling was conducted dry where practicable. Where wet RC drilling was required to maintain drilling performance in some deeper or more difficult sections, samples were collected at the same 5 ft intervals using a rotary wet splitter, and recorded by the project manager on the sampling cut sheet for later reference. The drilling contractor cleaned the rig-mounted rotary cone splitter at regular intervals and as required to minimize contamination between samples. RC samples were collected from 5 ft bulk samples using the A-chute of the splitter attached directly to the cyclone. Overall, the drilling and sampling procedures were designed to maximise sample recovery, reduce fines loss, and maintain representative RC samples for geological logging and assay. Cloth bags were marked by the program manager with the drill hole ID and sample interval/footage to maintain sample identification and traceability. All 5 ft split samples were submitted to the laboratory for analysis. All samples are transported in large bags sealed with numbered security tags. The sample bags are picked up by a service contracted by Bureau Veritas to transport the samples directly from site to their facility in Sparks near Reno, Nevada. The sampling approach is considered appropriate for RC drilling and for the style of mineralisation being tested.

The QA/QC procedure adopted is approximately 3 blank samples per 100 samples, 2 standard samples of known gold, silver, lead and zinc grades per 100 samples and 3 field duplicates per 100 samples. All QA/QC samples were within expected tolerances.

RC samples were prepared by Bureau Veritas located in Sparks, Nevada USA using preparation code WGHT. This procedure involved crushing samples to 70% passing 2 mm and pulverising the entire sample to 85% passing 75 µm. Gold analyses were completed in Bureau Veritas located in Vancouver, Canada on a 30 g charge using lead collection fire assay with an atomic absorption spectroscopy (AAS) finish (method FA430). Samples returning over-limit gold values were re-analyzed using a gravimetric finish (method FA530). Multi-element analyses were completed in Bureau Veritas located in Vancouver, Canada following four-acid digestion with inductively coupled plasma optical emission spectroscopy (ICP-ES) using method MA300, which provides analyses for a broad suite of exploration elements. Samples returning over-limit silver, lead and zinc values were re-analyzed using MA370 which is a four-acid digestion followed by ICP-ES (ICP-OES) analysis. Bureau Veritas applies internal laboratory QA/QC procedures as part of its analytical process. Final analytical results were reported in certified laboratory assay certificates provided to the Company's management and technical team. Bureau Veritas Minerals laboratories operate under an ISO/IEC 17025:2017 accredited quality management system for the relevant mineral analytical methods. The sample preparation and analytical methods are considered appropriate for RC drill-chip samples and for the style of gold and polymetallic mineralisation being tested. True widths of the assay intervals are estimated to be 85-95% of the reported drill hole lengths.

Additional Information

¹ Silver Equivalent (AgEq) metal values are calculated using a 3-month running average price (June-August 2026): $4,300 Au USD/oz, Ag 66.0 USD/oz, Pb $1,900 USD/tonne and Zn $3,600 USD/tonne. Recovery for each metal is assumed to be 100% for the purposes of the equivalent calculations for comparison purposes only. AgEq (g/t) = Ag (g/t) + [Au (g/t) x Au price/Ag price] + [Pb (%) x Pb price x 10,000 / (Ag price/31.1035)] + [Zn (%) x Zn price x 10,000 / (Ag price/31.1035)] (per tonne, prices as stated). Testwork is required on each mineralisation type identified at Gold Run in order to define the recovery factors more accurately once a resource is defined.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Leo Horn, who is the Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Horn is a consulting director to the Company and is a member of the Australasian Institute of Geoscientists (MAIG). Mr. Horn has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activities being undertaken, to qualify as a Qualified Person as defined by NI 43-101. Mr. Horn has reviewed and verified the technical information contained in this news release and consents to the disclosure of such information in the form and context in which it appears. The Company is not aware of any new information or data that materially affects the scientific or technical information disclosed in this news release.

ABOUT LODESTAR METALS

Lodestar Metals Corp. is a Canadian gold exploration company focused on advancing the Gold Run Project in Nevada, strategically located on a major Carlin- and Epithermal-style gold trend and adjacent to some of the largest gold deposits in North America. With decades of combined geological and capital markets expertise, Lodestar follows a disciplined, step-by-step approach to discovery. The Company's strategy is clear: focus capital on high-value targets, move quickly on known mineralisation, and build a compliant gold resource that delivers lasting shareholder value. For more information, please visit www.lodestarmetals.ca.

Forward-Looking Statements

The information set forth in this news release contains forward-looking statements based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. Forward-looking statements in this news release include, but are not limited to, statements regarding planned follow-up and deeper drilling at Black Diamond, the interpretation of multiple stacked structures, the extent and continuity of mineralisation, and the timing and results of pending assays from Crown North. They are not guarantees of future performance. Lodestar cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by several material factors, many of which are beyond Lodestar's control. Such factors include, among other things, risks and uncertainties relating to Lodestar's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Table 1: Drilling details for the 8 holes of Lodestar's recent RC Drill Program at Black Diamond

Table 2: Composite assay results for the 8 holes of Lodestar's recent RC Drill Program at Black Diamond

Note: Assay intervals presented above are hole lengths; true widths are estimated to be 85-95%.

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