Lode Gold Commences Metallurgical Drilling at Fremont Gold Mine, Mariposa, CA

Lode Gold Resources Inc. announced on August 17, 2026, that it has commenced metallurgical drilling at its flagship Fremont Gold Mine in Mariposa, California. The program targets early-stage zones to optimize material mapping for future definitive composites. The company is collaborating with a metallurgical and engineering firm to conduct trade-off studies comparing gravity versus flotation recovery methods to maximize project economics and streamline permitting. A new metallurgical study is being conducted to validate historical recovery data, specifically referencing a 91% recovery rate confirmed in a 2014 report.

This announcement directly follows the August 10, 2026 approval of a three-year Administrative Use Permit (AUP) from Mariposa County, which authorized a 3,500 to 4,500-meter drilling campaign for the second half of 2026.

Lode Gold Resources Inc. (LOD) has begun metallurgical drilling, marking a routine step in its previously announced 3,500-4,500m campaign. The market was already aware of the planned work following permit approval on August 10. This activity provides incremental technical progress rather than a fundamental shift in project economics or strategy. Validating the 91% recovery rate is a standard technical baseline exercise required for a Prefeasibility Study (PFS).

There is no new capital raise, M&A activity, or unexpected regulatory breakthrough associated with the update. The company's strategic pivot to 100% underground bulk mining and the recent debt repayment on August 4 have already been priced in. This release simply confirms that the technical work is moving forward as planned.

Lode Gold Resources Inc. is a junior exploration and development company focused on the Fremont Gold Mine in California and the Dingman Gold Project in Ontario. The Fremont Gold Mine is a brownfield project located on the Mother Lode Belt in Mariposa County. Historical mining halted in 1942 due to a WWII gold prohibition, leaving approximately 89% of the resource unmined.

The 2026 Mineral Resource Estimate (MRE) reports 1.11 million ounces of Indicated resources and 1.98 million ounces of Inferred resources at a 1 g/t Au cut-off. The company has pivoted from previous open-pit concepts to a 100% underground bulk mining strategy, aiming to minimize surface footprint and eliminate cyanide use. A subsidiary, Gold Orogen Resources Corp. (OROG), was successfully spun out and listed on the CSE in February 2026, separating early-stage exploration assets in Yukon and New Brunswick from Lode Gold's advanced-stage California project.