Lode Gold Further Upsizes Private Placement to $9.872 Million and Closes Final Tranche

Lode Gold Resources Inc. (TSXV: LOD) announced the upsizing and closing of the second and third (final) tranches of its non-brokered private placement, raising a total of CAD $9.782 million. The company also entered into a marketing consulting and investor relations agreement with Spark Newswire Inc. for an initial term of eight months, involving cash fees and stock option grants. Proceeds from the financing will be used to advance technical work at the Fremont Gold Mine, including drilling for a Preliminary Feasibility Study, strengthen the balance sheet, repay debt, and provide working capital.

The total aggregate proceeds raised were CAD $9,782,000, resulting from the issuance of 35,982,331 Units at a price of CAD $0.27 per Unit. The second tranche closed concurrently with the third, issuing 3,488,261 Units for gross proceeds of CAD $941,830. The third (final) tranche also closed concurrently, issuing 2,648,997 Units for gross proceeds of CAD $715,229. Senior officers subscribed for 237,037 Units in the final tranche for gross proceeds of CAD $64,000.

Each Unit includes one common share and one common share purchase warrant. The warrants allow for the purchase of one additional share at an exercise price of CAD $0.45 for 36 months. The company may accelerate warrant expiry with 30 days' notice if shares close at a minimum of $0.80 for ten consecutive trading days. All securities are subject to a statutory hold period of four months and one day. Completion of the financing is subject to final acceptance by the TSX Venture Exchange.

Under the new agreement, Vancouver-based capital markets advisory firm Spark Newswire Inc. will provide investor relations, marketing, promotional services, investor awareness campaigns, drafting and distribution of news releases, social media campaigns, and capital markets advisory and strategy services. The agreement has an initial term of eight months, commencing August 1, 2026. The cash consideration is an aggregate fee of US $75,000, and the equity consideration involves a grant of 625,000 stock options to Spark. These options are exercisable to acquire one common share at an exercise price of CAD $0.60 per share for a period of one year from the date of grant. The agreement is subject to approval of the TSX Venture Exchange.

Lode Gold intends to use the proceeds to advance technical work at the Fremont Gold Mine ("Fremont"). Specific technical focus areas include an upcoming drill program for a Preliminary Feasibility Study (PFS), metallurgical, geotechnical, and rock mechanic studies, and engineering. The company also plans to develop an initial mine plan to initiate environmental and permitting work later in 2026. Additional uses of the funds include strengthening the balance sheet, partial debt repayment, and general working capital.