LODE GOLD COMPLETES FULL REPAYMENT OF FREMONT GOLD MINE PROPERTY SECURED LOAN AHEAD OF SCHEDULE

Trading symbols
TSX-V: LOD
OTCQB: LODFF

VANCOUVER, BC, Aug. 5, 2026 /CNW/ -- Lode Gold Resources Inc – ("Lode Gold" or the "Company") (TSXV: LOD) (OTCQB: LODFF) is pleased to announce the full repayment of subsidiary Fremont Gold Mining LLC's long-term senior debt ("Secured Loan") secured by the Fremont Gold Mine property ("Fremont Property"), well ahead of the Secured Loan's scheduled maturity in 2028. With the repayment of approximately US$3.6 million of principal and accrued interest, the Fremont Property's pledging as security will be released, and Lode Gold and its subsidiaries will no longer have any loan obligations. 

In 2021, Lode Gold acquired Fremont Gold Mining LLC  (Fremont) by issuing $11 million shares and  assumption of senior secured debts. Fremont Gold Mine has 1.11 Moz of gold – 18.8 Mt at 1.84 g/t Au (Measured & indicated) and 1.99 Moz of gold (Inferred) – 33.1 Mt at 1.86 g/t Au. The Fremont Gold Project is a past-producing, high-grade underground gold mine located in Mariposa County, California, at the heart of the historic Mother Lode Gold Belt -- a 190-kilometre trend credited with over 50 million ounces of historical gold production. Fremont sits on 3,351 acres of 100% privately owned, patented land, giving the company full control of surface and mineral rights along with existing infrastructure including road access, power, water, and rail proximity. Historically, Fremont was mined at an average grade of 10.7 g/t Au, with production halted in 1942 under wartime gold mining restrictions (War Production Order L-208). The property retains extensive brownfield infrastructure from its operating history, including 43,000 metres of historical drilling, over 10,000 underground channel samples, 14 adits, and 2 shafts.

Wendy T. Chan, CEO and Director of the Board said, "In the last few years, the Lode Gold team has diligently executed the turnaround and growth strategy.   Paying off the last senior secured debt is the final step of its turnaround plans.  It is an exciting key milestone. We are ready to begin our next chapter – to execute the  growth  phase of our strategy and plans that will unlock value for  shareholders."

Current and Near-Term Plans

Technical Project Advancement:

• Initiate engineering studies regarding upcoming Preliminary Feasibility Study – Summer/Fall 2026
• Complete infill, metallurgical, rock and geo tech drilling – Summer/Fall 2026
• Evaluate nine addition new targets for expansion drilling – Summer/Fall 2026
• Evaluate drilling to bring additional non-categorized (NI 43-101 compliant) at least to Inferred Resources - Summer 2026 Identify and drill potential expansion targets  - Fall 2026
• Develop Initial Mine Plan  – Late  2026
• Initiate Environment & Permitting work – Late 2026
• Complete Internal Scoping Study – Late 2026
• Complete PFS (Pending Upcoming Technical and Economics Evaluation) – July 2027

Corporate Development & Growth: 

• Improved balance sheet, paid-off secured debt
• Strengthen team with additional expertise in Geology,  Engineering, ESG and Permitting
• Expand Investor Outreach – US, Europe and Canada
• Evaluate spin-out of Ontario Gold Asset (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 within 12.5 Mt measured and indicated and 47,000 oz at 0.71 g/t within 2.1 Mt Inferred).

Previously

Technical Project Advancement:

• Updated Mineral Resource Estimate 2026 (3 of 7 deposits, 43,000 m drilled, 10,000 channel samples)
• Identified 9 additional new drill targets (not part of current 7 deposits)
• Completed Internal Scoping Study , updating analysis of 2023 PEA
• Initiated Underground Access, MSHA Registered
• Systematically advanced two exploration projects in Yukon and New Brunswick
  • Yukon: Identified several Reduced-Intrusion-Related-Gold-System (RIRGS) and sedimentary hosted orogenic drill targets 
  • New Brunswick:  Confirmed gold mineralized rhyolites, same geology as adjacent Kinross-Puma asset 

Corporate Re-organization :

• Ensued tight capital structure with 10:1 share consolidation
• Enhanced technical and capital market bench strength
• Created a pure-play exploration company with high potential Yukon and New Brunswick assets

Hashim Ahmad, Chair of Lode Gold Board adds, "Repaying this loan ahead of schedule underscores our disciplined approach to capital management, further reinforcing the Company's balance sheet as we advance the Fremont Gold Mine. In 2023, the Company traded at a market capitalization low of approximately $3 million; today, following our recent financing, Lode Gold stands at over $30 million, with the capital in place to carry Fremont through to completing the Pre-Feasibility Study. We thank our long-term stakeholders and supporters who backed this turnaround and remain focused on building Fremont's value further with many catalysts upcoming. Looking ahead, we will continue to evaluate both organic and inorganic growth opportunities for the project."

The loan, which had recently been amended to extend its maturity to May 1, 2028, included a provision whereby 50% of the 2% extension fee would be rebated if the loan was repaid on or before May 1, 2027. By repaying the loan ahead of schedule, Lode Gold has qualified for the rebate, reducing its overall financing costs while further strengthening its balance sheet.

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 $35 per oz. PEA was completed (link) in 2023. The PEA was based on 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 Mt Inferred with a composite cut-off[1]. MRE (link) was updated in 2026; 89% of the ounces were left unmined if we compare historical production with our current Indicated Resource. Average true widths at 1 g/t cut off is 53m. Project sits on > 3,000 acres of 100% owned private and patented land which is designated as OZ, Trump Administration Opportunity Zone (Special Tax Incentives). 

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 within 12.5 Mt measured and indicated and 47,000 oz at 0.71 g/t within 2.1 Mt 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
[email protected] 
+1(604) 977-GOLD (4653) 

Kevin Shum
Investor Relations
[email protected] 
+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.

SOURCE Lode Gold Resources Inc