Lode Gold Submits Drill Permit Application at Fremont Gold Mine
Rhea-AI Summary
Lode Gold (OTCQB: LODFF) submitted a Mariposa County permit application to conduct surface exploration drilling at its Fremont Gold Mine Project in California on April 22, 2026. The program aims to further define known mineralized zones using existing drill pads and a centrifuge system to limit surface disturbance.
The application follows Mariposa County and California regulations, including SMARA and CEQA review. When issued, the permit would initially be valid for three years, with possible modifications or extensions subject to County approval. Subsequent warrant exercises after year-end raised approximately $4.27 million in proceeds to the company.
Positive
- Submitted permit application to Mariposa County for surface drilling at Fremont Project
- Proposed use of existing drill pads and centrifuge system to minimize surface disturbance
- Raised approximately $4.27 million from ~11.1 million warrant exercises after 2025 year-end
Negative
- Permit is subject to Mariposa County CEQA environmental review and not yet approved
- Drilling activities require County approval for modifications or term extensions, creating procedural uncertainty
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2026) - Lode Gold Resources Inc (TSXV: LOD) (OTCQB: LODFF) (the "Company" or "Lode Gold") is pleased to announce that it has formally submitted an application to Mariposa County for a permit to conduct surface exploration drilling at its Fremont Gold Mine Project in California.
The application represents an important step in advancing the Company's exploration strategy, allowing for the execution of a targeted surface drilling program designed to further define and expand known mineralized zones. The proposed program focuses on gathering additional geological data to support the continued evaluation and development of the project.
The permit application has been prepared in accordance with Mariposa County requirements and applicable California regulations, including the Surface Mining and Reclamation Act (SMARA). As part of the process, the County will undertake environmental review procedures under the California Environmental Quality Act (CEQA).
As part of the proposed program, the Company plans to utilize already existing drill pads and a centrifuge-based system to manage drilling fluids, allowing for the separation of drill cuttings and water without the need to excavate settling ponds. This approach is designed to further minimize surface disturbance and enhance environmental protection measures during drilling activities.
When approved, the permit is expected to be valid for an initial term of three years from the date of issuance. The permit framework allows for modifications to the proposed activities as well as extensions to the permit term, subject to County approval.
The Company notes that the last Administrative Use Permit (AUP) for surface drilling at the Fremont Project was granted in 2016 and remained in effect, with modifications, through 2019.
The Company has worked closely with legal and technical advisors to ensure that the application aligns with regulatory expectations and reflects a responsible, low-impact exploration approach. The proposed drilling program has been designed to minimize surface disturbance by utilizing existing access infrastructure and incorporating best practices for environmental management and site reclamation.
Wendy T. Chan, CEO and Director of Lode Gold Resources, commented: "The submission of this permit application marks another important milestone for the Fremont Project. We are continuing to advance the project in a disciplined and methodical manner, and this step reflects our commitment to moving forward and unlocking the full potential of this highly prospective asset."
Lode Gold looks forward to working collaboratively with Mariposa County and other stakeholders throughout the permitting process and will provide updates as the review progresses.
Warrants Update
Subsequent to the Company's December 31, 2025 year end, Lode Gold warrant holders have exercised a total of approximately 11.1 million warrants and proceeds of approximately
About Lode Gold
Lode Gold has key assets in Canada and the United States.
Fremont Gold Mine Project (Fremont Gold Mining LLC) is a brownfield project in Mariposa, California with 43,000 m drilled, 10,000 underground channel samples, 14 adits and 2 shafts. Mining halted in 1942 due to the gold mining prohibition during WW II. It was mined at 10.7 g/t when price was gold was
Dingman Property is an orogenic deposit in Ontario, Canada with over 22,000 m drilled, with a 2013 PEA, MRE (link to report) : 376,000 oz at 0.94 g/t (M&I) and 47,000 oz at 0.71 g/t (Inferred).
Qualified Person
The technical information contained in this press release was reviewed and approved by Gary Wong, P.Eng., VP Exploration of Lode Gold, designated as a qualified person under National Instrument 43-101.
ON BEHALF OF THE COMPANY
Wendy T. Chan
CEO & Director
info@lode-gold.com
+1(604) 977-GOLD (4653)
Kevin Shum
Investor Relations
kevin@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.
1 0.25 g/t for oxide, 0.45 g/t for open pit mineralization and 1.45 g/t for underground mineralization
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