Lode Gold Discharges Debt to Advance Fremont Gold Mine

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF), a company focused on developing gold mining projects in Canada and the United States, has announced a significant milestone in the advancement of its flagship Fremont Gold Mine. The company has submitted all necessary discharge documents to release itself from its senior secured debt obligations, allowing the Fremont Gold Mine to be freed from encumbrance and enabling Lode Gold and its subsidiaries to focus fully on the next phase of technical development, resource expansion, and corporate growth.

The Fremont Gold Mine, located in Mariposa, California, is a brownfield project with a history dating back to the 1940s when mining operations were halted due to wartime gold mining prohibitions. The site has a rich history, having been mined at a grade of 10.7 grams per ton (g/t) gold when the gold price was $35 per ounce. In 2023, a Preliminary Economic Assessment (PEA) was completed, which outlined a resource base of 1.16 million ounces (Moz) at a grade of 1.90 g/t gold within 19.0 million tons (Mt) of indicated resources, and 2.02 Moz at 2.22 g/t gold within 28 Mt of inferred resources. The average true width at a 1 g/t cut-off is 53 meters.

The completion of the loan repayment marks an important moment for Lode Gold, allowing the company to shift its focus from debt management to the technical and operational advancement of the Fremont Gold Mine. Over the next six months, the company plans to develop a preliminary mine plan, with the objective of establishing the technical foundation for environmental studies and permitting work. The Fremont Gold Mine, which sits on over 3,000 acres of 100% owned private and patented land, is designated as an Opportunity Zone under the Trump Administration, offering special tax incentives.

The Fremont Gold Mine project, operated by Fremont Gold Mining LLC, is a significant asset for Lode Gold, complemented by another project in Ontario, Canada, known as the Dingman Property. The Dingman Property, with over 22,000 meters of drilling, includes a 2013 Preliminary Economic Assessment (PEA) and a Mineral Resource Estimate (MRE) that outlines a resource base of 376,000 ounces at a grade of 0.94 g/t gold within 12.5 Mt of measured and indicated resources, and 47,000 ounces at a grade of 0.71 g/t gold within 2.1 Mt of inferred resources. The project is also designated as an Opportunity Zone under the Trump Administration, providing additional tax benefits.

Lode Gold, a company with a portfolio of key assets in Canada and the United States, is now focused on leveraging its financial and technical resources to advance the Fremont Gold Mine. The company's plans include developing a preliminary mine plan, which will be a critical step in the project's development. The completion of the loan repayment also allows Lode Gold to pursue technical studies to evaluate optimized mine plans and advance the Fremont Gold Mine toward its next stage of development.

The completion of the loan repayment is a significant milestone for Lode Gold, allowing the company to focus on the technical and operational advancement of the Fremont Gold Mine. With no outstanding loan obligations, the company is now pursuing technical studies to evaluate optimized mine plans and advance the Fremont Gold Mine toward its next stage of development. The completion of the loan repayment also allows Lode Gold to pursue technical studies to evaluate optimized mine plans and advance the Fremont Gold Mine toward its next stage of development.