Lode Gold recovers 5,000 historical samples at Fremont

Executive Summary

• Lode Gold Resources has recovered and is analyzing over 5,000 historical underground channel samples from its Fremont Gold Mine in California, significantly expanding its validated data set.
• The recovered data increases the company's validated sample database from 3,212 to 8,593 records, enhancing geological understanding and supporting the upcoming upgrade of the Mineral Resource Estimate (MRE).
• The project remains largely unexploited, with only 8% of the 2025 MRE resource extracted, and features excellent infrastructure and exploration upside open at depth and on strike.

Key Details

• Sample Recovery: Successfully recovered more than 5,000 historical underground samples, including transversal and longitudinal channel cuts, short drill holes (5-6 feet) from wall rock, ribs channels, and diluted bulk sampling from every five-foot blast in drifts.
• Data Expansion: Validated sample database increased from 3,212 to 8,593 records.
• Historical Records: Recovered 665 daily assay reports from 1936 to 1941 covering production and exploration, allowing for accurate quantification of grades in exploited stopes.
• Validation Strategy: The company now holds between two to six independent data sets for the same zones, enabling cross-checking against previous reverse circulation and diamond drill holes to confirm internal consistency.
• Resource Impact: Validation efforts aim to update the MRE with a higher proportion of measured and indicated resources relative to inferred resources.
• 3D Modeling: A new 3-D model has been completed using actual location and size of stopes, adjusting mined-out areas to drift shapes and locations using level plant sections, cross sections, longitudinal sections, and drill-hole intercepts logged as voids or barren fillings.
• Project Statistics:
  • Location: Fremont Gold Mine, Mariposa County, California.
  • Ownership: 100% ownership of surface and mineral rights on 3,351 acres of patented private land.
  • Drilling: Over 43,000 metres drilled (specifically 42,717.3 m noted in project details).
  • Underground Infrastructure: 23 km of underground workings, 20 adits, 16 levels, and 5 shafts.
  • Historical Grade: Previously mined at 10.7 grams per tonne Au.
  • Exploration Upside: Only 8% of the 2025 MRE resource has been extracted; 92% remains to be mined.
  • Depth Potential: Three stepout holes at 1,300 metres hit structure and were mineralized.
  • Geology: Seven deposits on a four-kilometre strike on the Mother Lode belt; only two of the seven deposits have seen exploitation.
• Recent Studies:
  • Completed an internal scoping study evaluating potential to resume operations based on 100% underground mining.
  • Previously completed a Preliminary Economic Assessment (PEA) in March 2023 evaluating a mix of open pit and underground mining.

Notable Quotes

• "Lode Gold has worked on achieving a better understanding of the historical data recovered for the Fremont gold mine and is now better positioned to upgrade the current mineral resource estimation with increased certainty." — Jonathan Hill, Technical Chair of Lode Gold