Lode Gold Announces Non-Brokered Private Placement of $7 Million Financing with Follow-On Investment from Lead Investor Coast Capital

Lode Gold Resources Inc. announced a non-brokered private placement raising up to $7,000,000. The offering consists of up to 25,925,926 units priced at $0.27 per unit. Each unit includes one common share and one common share purchase warrant. Warrants carry a $0.45 exercise price, a 3-year term, and an acceleration clause if shares trade at $0.80 or greater for 10 consecutive days.

Lead investor and major shareholder Coast Capital LLC is participating to increase its stake to approximately 19.9% post-closing. Proceeds are designated for advancing technical work at the Fremont Gold Mine, specifically funding an upcoming drill program for a Preliminary Feasibility Study (PFS), metallurgical/geotechnical studies, and initial mine planning. Funds will also strengthen the balance sheet and provide general working capital.

Lode Gold Resources Inc. (LOD) has secured financing to fund its announced 2026 drilling program and the initiation of a Preliminary Feasibility Study (PFS). The follow-on investment from Coast Capital signals continued insider confidence and aligns management with major shareholders. The capital was raised at an issue price of $0.27, representing a modest discount to recent trading levels, a standard practice for private placements that introduces dilution.

The funds directly address the working capital deficiency noted at year-end 2025 and extend the runway for technical advancement without requiring immediate additional equity raises. While the transaction provides the necessary fuel to execute the existing roadmap, it does not alter the fundamental project timeline or valuation drivers.

Lode Gold Resources Inc. is a junior exploration and development company focused on gold assets in North America. Its flagship project is the Fremont Gold Mine, located in Mariposa County, California, on the Mother Lode Belt. The project sits on 3,351 acres of 100% privately owned patented land, simplifying jurisdiction and permitting.

Historically, the site was a past-producing mine that suspended operations in 1942, having mined at 10.7 g/t Au. Only approximately 8% of the modern resource has been extracted. The geological model is transitioning from a narrow-vein interpretation to a continuous, bulk underground mining model. The deposit features wide average true widths of 53m at a 1 g/t cut-off and consistent grade continuity.

Updated 2026 NI 43-101 MRE reports indicate a resource base of 1.15 moz Indicated and 2.17 moz Inferred at a 0.82 g/t Au cut-off, totaling 3.32 moz. The company is fast-tracking the project toward a Preliminary Feasibility Study (PFS) targeted for Spring 2027 and a Definitive Feasibility Study in 2028. A pilot plant is planned for 2028, with commercial production expected by 2030.