Lode Gold completes scoping study at Fremont

Executive Summary

• Lode Gold Resources Inc. completed an internal scoping study and is pivoting the Fremont gold project to a 100 % underground bulk‑mining scenario, targeting a pilot plant/test mining phase in early 2028 with full ramp‑up by 2030.
• The company retained EAS Advisors (New York) and Red Cloud Securities to identify a joint‑venture partner and secure investment for the project’s next development stage.
• Preliminary Economic Assessment (PEA) figures indicate potential production of ~136,000 oz Au per year at a 4,000 t/d underground rate, with plans to scale up to 6,000 t/d pending further engineering studies.

Key Details

• Scoping Study Completion: Internal study evaluates a fully underground bulk‑mining model for Fremont, California.
• Joint‑Venture Partner Search: EAS Advisors and Red Cloud Securities engaged to locate an investment partner; evaluation period of 36 months with final investment decision slated for 2028.
• Pilot Plant/Test Mining: Planned early‑2028 pilot plant using a portable mill (300–500 t/d) for the first three years, followed by ramp‑up to full production by 2030.
• Production Outlook:
• At 4,000 t/d underground processing, PEA forecasts ~136,000 oz Au annually.
• Potential scale‑up to 6,000 t/d contingent on rock mechanics and engineering results.
• Resource Basis: 2025 Mineral Resource Estimate (MRE) – 1 M oz measured & indicated, 2 M oz inferred; half of gold resides in stockwork outside veins, unmined to date.
• Mine Plan Highlights:
• Utilizes only 20 % of the 3,351‑acre wholly owned patented land, minimizing surface footprint.
• No open pit; all crushing performed underground; cyanide use eliminated (oxides not processed on site).
• Access via hanging‑wall metamorphic rocks rather than footwall sedimentary rocks.
• Engineering Parameters:
• Average true width of mineralization: 53 m at 1 g/t cut‑off, 17 m at 3 g/t cut‑off.
• Portable mill capacity: 300–500 t/d (Phase 1).
• Rehabilitation of part of the existing 23 km underground workings for Phase 1 operations.
• Historical Context: Fremont was a past‑producing gold mine; only ~8 % of the 2025 MRE resource has been extracted. The project includes >43,000 m drilled, extensive underground infrastructure, and proximity to utilities and transport.
• Management Comment: Jonathan Hill, Director & Technical Committee Chair, emphasized that the scoping study “underpins a strategy to re‑engineer and restart a past‑producing high‑grade gold mine…providing a significantly important near‑term production base supporting the United States government’s aim of domestic gold production.”

Notable Quotes

• Jonathan Hill: “This internal scoping study underpins a strategy to re‑engineer and restart a past‑producing high‑grade gold mine at Fremont. This provides a significantly important near‑term production base supporting the United States government's stated aim of supporting domestic gold production.”