Lode Gold Identifies Upside Potential at Fremont Mine, Mariposa - Mother Lode Belt: 9 New Exploration Targets

Rhea-AI Summary

Lode Gold Resources (TSXV: LOD) has identified nine new exploration targets at its Fremont Mine in the Mariposa - Mother Lode Belt, leveraging VRIFY's AI-powered DORA platform. The project currently holds 1M ounces in Measured & Indicated and 2M ounces in Inferred resources, with only 8% of identified resources historically mined.

The Fremont Mine, previously operated at 10.7 g/t gold when gold was $35/oz, features 23 kilometers of underground workings and shows significant potential with average true widths of 50m at 1 g/t gold cut-off. The company plans to advance to Pre-Feasibility Study by December 2026, targeting gold production by early 2028 with a 300-500 tpd test mining operation, potentially scaling to 4,000-6,000 tpd producing 130,000-200,000 ounces annually.

Positive

• Discovery of 9 new high-potential exploration targets beyond known deposits
• Substantial existing resource base: 1M oz Measured & Indicated plus 2M oz Inferred
• 92% of identified resources remain unmined
• Impressive deposit metrics: 50m true width at 1 g/t cut-off
• Extensive existing infrastructure with 23km of underground workings
• Historical high-grade production of 10.7 g/t gold

Negative

• Requires significant capital investment for mine reactivation
• Extended timeline to production (2028)
• Project still at early stage requiring PFS completion
• Test mining limited to 300-500 tpd initially

Vancouver, British Columbia--(Newsfile Corp. - October 1, 2025) - Lode Gold Resources Inc (TSXV: LOD) (the "Company" or "Lode Gold") is pleased to announce it has identified additional upside potential at the Fremont Mine, Mariposa - Mother Lode Belt. Based on VRIFY's findings, in addition to the seven previously identified deposits, only two of which have been mined, an additional nine potentially mineralized targets have been identified outside the Central Trend.

Nine additional exploration targets have been identified:

Figure 1 Lode Gold's Fremont Mine new targets from VRIFY

To view an enhanced version of this graphic, please visit:
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VRIFY's DORA is an AI tool that analyzes hundreds of layers of information at once and integrates geology, geophysics, geochemistry, structural interpretations, and drill data into one predictive framework. This allows the platform to recognize complex correlations and generate new high-probability exploration targets while validating known zones.

Leveraging VRIFY's DORA, Lode Gold analyzed and validated prospectivity results by compiling geoscientific and geospatial data. The Company has comprehensive data that includes geochemistry, geophysics, metallurgy, rock mechanics, hydrology, 43,000 metres ("m") of drill core and 8,000 channel samples. Using the Company's existing data DORA identified potential extensions of known mineralization at the project, alongside entirely new zones where no drilling has been completed.

To maximize the value of this dataset, additionally, VRIFY applied proprietary data augmentation resulting in:

• 28 enhanced layers from cleaned, smoothed, and filtered geophysics

• 231 engineered rasters, including:

  • 44 element prediction maps (rock and soil geochemistry)

  • 26 geology "distance factor" and structural maps

  • 100 geophysics-derived filters (using ResNet50 and Haralick algorithms)

  • 22 lineament and structural complexity maps from 11 unique interpretations

"We are very excited to partner with Lode Gold on Fremont, a data-rich brownfield project with over 40,000 meters of drilling. Deploying DORA, we combined AI with geological expertise to transform more than 40 input layers into hundreds of engineered datasets, ultimately defining nine high-priority targets," said Steve de Jong, CEO of VRIFY.

Lode Gold intends to advance several of the new targets toward drilling in the near future as it progresses on technical and engineering work to re-activate the Fremont Mine. Near term, drilling and channel sampling are in the plans as we move towards Pre-Feasibility.

Lode Gold's PEA 2023 is based on a mineral resource estimate of 1 million ("M") ounces ("oz") in the Measured and Indicated ("M&I") category and 2 M oz in Inferred category; most of the gold mineralization is concentrated on 800 m of strike and is relatively shallow - in the first 500 m in two of the seven known mineralized zones.

Currently 23 kilometers ("km") of underground workings extend from surface to 500 m, and the deposit is open on strike and at depth. Three step-out diamond drill holes at 1,300 m hit structure and were mineralized. Nearby mines, Kennedy and Argonaut were mined at 13 g/t gold, at depths of up to 1,800 m. Consistent with other orogenic deposits, the Fremont Mine has structural controls.

 

Figure 2 Disseminated vein system mined mostly in the first 250 meters

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At the Fremont Mine, mining primarily occurred in the first 250 m from surface on the Pinetree vein, and minimally on the second vein, Josephine.

Of note, 100% of the mineralization outside the veins, in the disseminated ore body, was left untouched, with grade consistency similar to that in the veins. Selective vein extraction by previous owners has left much of the deposit unmined. Only 8% of the resource identified in the 2025 MRE has been extracted. The deposit has great continuity and impressive widths.

Figure 3 Grade & Continuity at Fremont Mine

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At 1 g/t gold cut-off grade the average true- width is 50 m, at 3 g/t gold cut-off grade the average truth width is 17 m. The average grade thickness at 1 g/t gold cut-off is 143 gram-meters; and, at 3 g/t gold cut-off it is 74 gram meters.

The Fremont Mine is a brownfield project that was previously mined at 10.7 grams per tonne ("g/t") at a time when price of gold was US $35 per ounce. Mining activity at the Fremont Mine was halted in 1942 due to a gold mining prohibition during World War II and the mine has not operated since.

Lode Gold is currently working with engineering and mining companies to evaluate the potential for underground bulk mining. The Company recently completed the transfer of the Mine Safety and Health Administration ("MSHA") property MSHA Individual Identification Number, or MIIN, for its wholly owned Fremont Mine. This is a critical regulatory milestone in the potential re-activation of the historical mine.

Discussions are in progress with potential joint venture partners to initiate near-term work starting with drilling and underground channel sampling.

The plan is to upgrade the resources to M&I and initiate Pre-Feasibility Study (PFS) early 2026. With 8,000 channel samples, 43,000 m drilled, and the drill cores preserved much of the work can be expedited. Completion of PFS is estimated to be December 2026.

The goal is to advance to test mining and pour gold by early in 2028. Test mining employing a portable mill with a processing capacity of 300-500 tonnes per day ("tpd") will allow the Company to generate critical data while staying within the original site footprint and minimize surface disturbance. The Company does not intend to use cyanide and a 2-step gravimetry recovery is being explored.

Planned surface drilling will be done mostly at the original drill pads. Step out holes to expand resources are being evaluated. Pending rock mechanics and engineering analysis, the eventual mine plan being contemplated will range from 4,000-6,000 tpd, generating 130,000-200,000 ounces of gold per annum.

Lode Gold is investigating the potential to optimize and update the 2023 Preliminary Economic Assessment based on an underground mining operation with 3 active stopes of approximately 30 m by 30 m by 30 m in size and a mine life of 9 years.

About VRIFY:

How DORA identified the additional 9 Targets at Fremont

Using DORA, Lode Gold developed a VRIFY Prospectivity Map via an iterative workflow that began with data ingestion and compilation, followed by leveling and gap-filling, specifically with geophysics. From there, the dataset was enhanced and augmented using DORA's proprietary AI algorithms to generate new layers of information. The result is a heat map where all colours in the white to purple gradient indicate areas of high potential prospectivity, with brighter, hotter colors representing areas with higher probability. Using this process, eight compelling new targets have been identified and validated for further investigation in collaboration with Lode Gold's geoscience team.

Multi-Source Data Integration and Augmentation

The VRIFY Prospectivity Map for the Fremont Mine was built on a comprehensive stack of more than 259 data layers derived from 32 initial inputs. The process brought together data provided by Lode Gold, public datasets sourced by VRIFY, and entirely new data layers generated within DORA.

Lode Gold contributed drilling data, surface rock and soil samples, lithology maps, structural measurements, high-resolution magnetic and radiometric surveys, and previous structural interpretations. VRIFY sourced publicly available datasets, including regional magnetic, gravity, and radiometric surveys, satellite DEM and Sentinel imagery, and regional lithology and structural maps, bringing the total number of input layers from company and public sources to 32.

The data expansion process did not just repackage what was known. Instead, it unlocked entirely new insights, effectively augmenting existing data to improve predictions and accuracy. The most influential layers for property-scale results were high-resolution magnetic filters, structural lineaments, and distance factors that tied mineralization closely to SRK-defined fault structures.

Technical Context and Next Steps

The 300 data layers informed the VRIFY Prospectivity map, which quickly highlighted nine new targets outside of those already identified by Lode Gold at the Fremont Mine. These targets are rooted in robust geological signals-high-resolution magnetic data revealed subtle variations associated with mineralization, while lineament and distance-factor layers correlated mineralization to key structures. Together, these datasets explain why the AI outputs are considered highly credible.

Lode Gold will plan future exploration efforts to advance these targets as part of a project exploration strategy. Additional data gathered through further exploration can be ingested by DORA to iterate on experiments and further refine predictions and resulting targets.

How DORA Works

DORA is the world's first AI-Assisted Mineral Discovery Platform built specifically for geoscientists. By integrating geology, geophysics, geochemistry, structural interpretations, and drill data into one predictive framework, DORA analyzes hundreds of layers of information at once. This allows the platform to recognize complex correlations and generate new high-probability exploration targets while validating known zones.

Leveraging VRIFY's DORA, Lode Gold analyzed and validated prospectivity results by compiling geoscientific and geospatial data, resulting in high prospectivity zones which displayed anomalous values relative to surrounding areas, using topography, geology, lineament analyses, and geophysics. These anomalies include proof of concept areas which were known targets before the AI analyses were run.

About Lode Gold 

Lode Gold is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In the United States, the Company is focused on its advanced exploration and development asset, the Fremont Mine in Mariposa, California. It has a recent 2025 NI 43-101 report and compliant Mineral Resource Estimate ("MRE") that can be accessed here https://lode-gold.com/project/freemont-gold-usa/.

The Fremont Mine was previously mined until operations ceased due to mining prohibitions during WWII when its mining license was suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. The Freemont Mine has exploration upside and mineralization is open at depth (three step-out holes at 1,300 meters hit structure and were mineralized) and on strike. This is a brownfield project with over 43,000 meters drilled, 23 kilometers of underground workings and 14 adits. The project has excellent infrastructure and is close to electricity, water, roads, railhead and port.

Recently, the Company completed an internal scoping study, with a strategic pivot to 100% underground mining. Previously, in March 2023, the Company completed an NI 43-101 Preliminary Economic Assessment ("PEA") with an open pit and underground combination mine. The NI 43-101 technical reports are available on the Company's profile on SEDAR+ (www.sedarplus.ca) and the Company's website (www.lode-gold.com).

In Canada, its Golden Culvert and WIN projects in Yukon, covering 99.5 square kilometres across a 27-kilometre strike length, are situated in a district-scale, high-grade gold mineralized trend within the southern portion of the Tombstone gold belt. A total of four RIRGS targets have been confirmed on the property. A National Instrument 43-101 technical report on the property was completed in May 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co., consisting of an area that spans 445 square kilometres and a 44-kilometre strike. McIntyre Brook covers 111 square kilometers and a 17-kilometre strike in the emerging Appalachian/Iapetus gold belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway project. Riley Brook is a 335-square-kilometre package covering a 26-kilometre strike of Wapske formation with its numerous felsic units. An NI 43-101 technical
report has been completed in August 2024.

ON BEHALF OF THE COMPANY

Wendy T. Chan
CEO & Director

Information Contact:

Kevin Shum
Investor Relations
info@lode-gold.com
+1 (604) -977-GOLD (4653)

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; and currency fluctuations.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, business disruptions, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268685

FAQ

What new discoveries did Lode Gold (LODFF) announce at the Fremont Mine?

Lode Gold identified nine new exploration targets outside the Central Trend using VRIFY's DORA AI platform, which analyzed multiple data layers including geology, geophysics, and 43,000 meters of drill core data.

What is the current resource estimate at Lode Gold's Fremont Mine?

The Fremont Mine has 1 million ounces in Measured & Indicated category and 2 million ounces in Inferred category, with 92% of identified resources remaining unmined.

When does Lode Gold plan to start production at the Fremont Mine?

Lode Gold aims to begin test mining and pour gold by early 2028, starting with a 300-500 tonnes per day operation, potentially scaling to 4,000-6,000 tpd producing 130,000-200,000 ounces annually.

What is the historical grade of the Fremont Mine?

The Fremont Mine was historically mined at 10.7 grams per tonne gold when gold was US $35 per ounce, before operations were halted in 1942 due to WWII.

What are the next steps for Lode Gold's Fremont Mine development?

Lode Gold plans to conduct drilling and channel sampling, upgrade resources to M&I category, and complete a Pre-Feasibility Study by December 2026. The company is also in discussions with potential joint venture partners.