Lode Gold Leverages Artificial Intelligence to Drive Exploration and Growth in Yukon

Rhea-AI Summary

Lode Gold Resources Inc. (LODFF) has announced two significant developments: First, the company will implement VRIFY Technology's AI-assisted mineral discovery platform to enhance exploration activities at its Golden Culvert Project in Yukon. Second, the company has appointed Gary Wong as the new VP of Exploration, bringing over 30 years of mining exploration experience to advance assets in New Brunswick and Yukon.

Wong's extensive background includes work on notable projects like Seabee, Mt. Milligan, and Bulyanhulu, with experience across Canada, Europe, Latin America, and Africa. Additionally, the company has extended the closing date of its previously announced non-brokered private placement to May 31, 2025.

Positive

• Implementation of AI technology for more efficient mineral exploration
• Appointment of industry veteran Gary Wong with 30+ years of experience
• Planned expansion of fieldwork activities in New Brunswick and Yukon

Negative

• Extension of private placement closing date suggests potential funding challenges

Toronto, Ontario--(Newsfile Corp. - May 20, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) ("Lode Gold" or the "Company") is pleased to announce it will be using the AI-assisted mineral discovery platform offered by VRIFY Technology Inc. ("VRIFY"). Vrify, based in Vancouver, Canada, is a worldwide leader in utilizing AI technology that leads to more efficient mineral exploration. Lode Gold will apply the advanced AI-assisted discovery platform to refine and validate exploration plans and targets at Lode Gold's Golden Culvert Project in Yukon, accelerating data-driven decision-making and enhancing exploration outcomes.

GOLD OROGEN APPOINTS INDUSTRY VETERAN GARY WONG AS NEW VP OF EXPLORATION

The Company is pleased to announce the appointment of Gary Wong as Gold Orogen's VP of Exploration to advance its Canadian assets in New Brunswick and Yukon. Gary will lead the team as the company expands fieldwork in New Brunswick, including soil sampling, trenching, and drill testing this season. In Yukon, he will oversee fieldwork-mapping, soil sampling, and channel sampling to develop drill targets.

"We are pleased to appoint Gary Wong as VP of Exploration. With over 30 years of experience in mining exploration and production, including significant work on projects such as Seabee, Mt. Milligan, and Bulyanhulu, Gary brings valuable expertise to our team," comments Wendy T. Chan, CEO and Director of Lode Gold. "His extensive background working in diverse environments will be important as we advance our exploration programs in New Brunswick and Yukon."

Gary is a seasoned professional with over 30 years of global experience in mining exploration and production. He began his career with a decade-long tenure at Placer Dome Inc., leading projects from grassroots to feasibility studies. Notable projects include Seabee, Mt. Milligan, Bulyanhulu, Endako Mine, and Las Cristinas. Gary has worked extensively across Canada, Europe, Latin America, and Africa, adapting to diverse environments from the Arctic to the Tropics.

PRIVATE PLACEMENT

Further to its non-brokered private placement offering originally announced on February 15, 2025, the Company is extending the closing of the private placement until May 31, 2025.

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States. In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km² across a 27-km 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 NI 43-101 technical report has been 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 km² and a 44 km strike. McIntyre Brook covers 111 km² and a 17-km 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 km² package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.

In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1930's. Mining was halted in 1942 due the gold mining prohibition in World War Two (WWII) just as it was ramping up production. Unlike typical brownfield projects that are mined out; only 8% of the veins have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont. The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in creating the towns, businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail. An NI 43-101 MRE has been reported on March 5, 2025. A complete technical report will be filed 45 days later on SEDAR+.

Previously, in March 2023, the company completed an NI 43-101 Preliminary Economic Assessment ("PEA") for the Fremont Gold project. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV of USD $370M and a 31% IRR over an 11-year LOM. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized. All 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).

ON BEHALF OF THE COMPANY

Wendy T. Chan
CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-(604)-977-GOLD (4653)

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

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

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 completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. 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: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.

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 adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed 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/252816

FAQ

Who is Gary Wong and what is his role at Lode Gold Resources (LODFF)?

Gary Wong is the newly appointed VP of Exploration at Lode Gold Resources, bringing over 30 years of mining exploration experience. He will lead exploration programs in New Brunswick and Yukon, overseeing fieldwork, soil sampling, and drill testing activities.

How is Lode Gold Resources (LODFF) implementing AI technology in its operations?

Lode Gold is implementing VRIFY Technology's AI-assisted mineral discovery platform to enhance exploration activities at its Golden Culvert Project in Yukon, aiming to refine and validate exploration plans and accelerate data-driven decision-making.

What are the main exploration activities planned by Lode Gold Resources (LODFF)?

The company plans to conduct fieldwork in New Brunswick, including soil sampling, trenching, and drill testing. In Yukon, activities will focus on fieldwork-mapping, soil sampling, and channel sampling to develop drill targets.

When is the new closing date for Lode Gold Resources' (LODFF) private placement?

Lode Gold Resources has extended the closing date of its non-brokered private placement to May 31, 2025.