Lode Gold Fremont Gold Mine Fast-Tracks Development With 3,500 M For Preliminary Feasibility Study

The Company is advancing Fremont under a revised development approach focused on bulk underground mining, supported by a growing Mineral Resource Estimate and strong geological continuity seen at its deposit situated along the Mother Lode structural corridor.

Preliminary Feasibility Study (PFS) 2026: 3,500 m Drill Program Planned

As part of the initial phase of work, Lode Gold will undertake a 3,500 meter drilling program designed to support the ongoing Mineral Resource Estimate update and to advance technical studies required for the PFS.

Specifically, this program will include:

• 1,400 meters of metallurgical and geotechnical drilling in the Pine Tree - Josephine area where historically it was mined at an average grade of 10.7 g/t

• 600 meters of hydrological and infill drilling in the Pine Tree - Josephine area

• 1,500 meters of step-out exploration drilling in the Chicken Gulch area

The drilling is designed to further de-risk the project by improving geological confidence, supporting mine design parameters, and expanding mineralization within the central structural corridor, where only a limited portion of the total strike length has been incorporated into current resource models. 90% of the resource of the 2025 MRE came from the Pine Tree - Josephine project. Mineralization shows a remarkable continuity and homogeneity in the grades similar to other greenstone and ophiolite hosted gold deposits. Gold has only been extracted previously in 2 of the 7 deposits.
Jon Hill, Technical Committee Chair, Director of the Board, commented:

"At Fremont the company has clearly demonstrated mineralization characteristics, especially grade x thickness and ounces per vertical meter metrics ideally suited for bulk underground mining and expedited development. Significant mineralization widths coupled with excellent grade continuity contribute to an already exceptional mineral resource inventory of some 3 M oz* defined to date over just an 800-metre strike segment of the broader 4 km mineralized trend identified to date at this project."
Chicken Gulch lies within the broader central Mother Lode structural corridor, where only approximately 20% of the first 500 meters of strike length is currently included in the existing MRE.
The planned drilling aims to test extensions of mineralization along this corridor and potentially expand resource areas close to the central trend.

*(1 g/t cut-off, 90% inferred)

The Company is targeting completion of the PFS by Q2 2027

Bill Fisher, Technical Advisory Board, added: "There are very few projects that can realistically advance to a Pre-Feasibility Study within a 15-month timeframe. Fremont benefits from an extensive historical database, strong geological continuity, and an easy to upgrade resource base, which together allow us to significantly accelerate the technical work required to reach that milestone."

Feasibility Study (FS) 2028: 7,800 m Underground Drill Program Planned

Following completion of the PFS, the Company plans to undertake an additional 7,800 meter underground drilling program as part of the Feasibility Study stage.

This program will be conducted from two parallel exploration ramps, each approximately 2,200 meters in length, developed along the mineralized body. These ramps will provide direct underground access for drilling, significantly improving the accuracy of geological, geotechnical, and metallurgical data collection.

Importantly, these exploration ramps are expected to be incorporated into the future mining operation, forming part of the initial underground development infrastructure and supporting a phased transition toward production.

The Company is targeting Completion of Feasibility Study by 2029.

Accelerated Path to Development

Wendy T. Chan, CEO and Director, Lode Gold, commented: "We are implementing a clear and disciplined strategy to fast-track Fremont from resource definition through to feasibility and ultimately development. The planned drilling programs are designed not only to support the PFS, but also to position the Project for a seamless transition into the Feasibility Study stage and future mine development. Fremont is advancing as a scalable underground project with strong fundamentals and a clear path forward."

Advancing Fremont through the PFS and into the Feasibility Study represents a key step in unlocking the full value of the Project. The last time Fremont reached a comparable level of technical advancement was in 1986 under a different development concept. The current strategy, focused on bulk underground mining, reflects both improved geological understanding and favorable market conditions, positioning the Project for modern development.

About Lode Gold

Lode Gold has key assets in Canada and United States.

Fremont Gold Mine Project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, California with 43,000 m drilled, 10,000 underground channel samples, 14 adits and 2 shafts. Mining halted in 1942 due to the gold mining prohibition during WW II. It was mined at 10.7 g/t when price was gold was $35 per oz. PEA was completed (link) in 2023. The PEA was based on 1.16 Moz at 1.90 g/t Au within 19.0 Mt Indicated, and 2.02 MOz at 2.22 g/t Au within 28 Mt Inferred with a composite cut-off1. MRE (link) was updated in 2025; 92% of the ounces were left unmined. Average true widths at 1g/t cut off is 53m. Project sits on > 3,000 acres of 100% 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 (link to report) : 376,000 oz at 0.94 g/t (M&I) and 47,000 oz at 0.71 g/t (Inferred.

Qualified Person

The technical information contained in this press release was reviewed and approved by Gary Wong, P.Eng., Vice President of Exploration of Lode Gold, designated as a qualified person under National Instrument 43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan
CEO & Director
info@lode-gold.com
+1(604) 977-GOLD (4653)

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1(604) 977-GOLD (4653)

Cautionary Statement Regarding Forward-Looking Information

Neither the 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.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; and currency fluctuations.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, business disruptions, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

1 0.25 g/t for oxide, 0.45 g/t for open pit mineralization and 1.45 g/t for underground mineralization

Copyright (c) 2026 TheNewswire - All rights reserved.