Lode Gold Completes Final Tranche Financing for Total $1.51 Million
Lode Gold Completes Final Tranche Financing
for Total $1.51 Million
Toronto, Ontario--(Newsfile Corp. - August 8, 2025) -
Lode Gold Resources Inc. (TSXV: LOD)
(OTCQB: LODFF) ("Lode Gold" or the "Company")
is pleased to announce that it has completed
the third and final tranche of its previously announced non-brokered private placement offering for $1
million. In this final tranche, the Company has raised an additional $326,780 through the issuance of
1,815,446 Units at a price of $0.18 per Unit.
The Company has now raised a total of $1,513,768 through
the issuance of 8,409,825 Units.
Each $0.18 unit consists of one common share and one common share purchase warrant. Each warrant
shall entitle the holder to purchase one common share at an exercise price of $0.35 per common share
for a period of three years following the date of closing.
The Company may accelerate the warrant expiry date if the Company's shares trade at $0.65 or more
for a period of 10 days, including days where no trading occurs. The closing of the offering is expected to
occur one business day following receipt of all required regulatory approvals.
The proceeds raised from the offering will go toward execution of the business plans for Lode Gold and
its subsidiary, Gold Orogen (
BC 1475039 Ltd
.).
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 Lode Gold holds assets in the Yukon and New Brunswick. Lode Gold's Yukon assets are
located on the southern portion of the prolific Tombstone Belt and cover approximately 99.5 km
2
across
a 27 km strike.
Over 4,500 m have been drilled on the Yukon assets with confirmed gold endowment and
economic drill intercepts over 50 m. There are four reduced-intrusive targets (RIRGS), in addition to
sedimentary-hosted orogenic exploration gold.
In New Brunswick, Lode Gold, through its subsidiary 1475039 B.C. Ltd., has created one of the largest
land packages in the province with its Acadian Gold Joint Venture, consisting of an area that spans 445
km
2
with a 44 km strike. It has confirmed gold endowment with mineralized rhyolites.
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 MRE
that
can be accessed here
https://lode-gold.com/project/freemont-gold-usa/
.
Fremont was previously mined until gold mining prohibition in WWII, when its mining license was
suspended. Only 8% of the resource identified in the 2025 MRE has been extracted. This asset has
exploration upside and is open at depth (three step-out holes at 1,300 m hit structure and were
mineralized) and on strike. This is a brownfield project with over 43,000 m drilled, 23 km of underground
workings and 14 adits. The project has excellent infrastructure with close access to electricity, water,
state highways, railhead and port.
The Company recently completed an internal scoping study evaluating the potential to resume
operations at Fremont based on 100% underground mining. Previously, in March 2023, the Company
completed a Preliminary Economic Assessment ("PEA") in accordance with NI 43-101
which evaluated
a mix of open pit and underground mining. The PEA and other technical reports prepared on the
Company's properties 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:
Wendy T. Chan
CEO
+1-(604)-977-GOLD (4653)
Kevin Shum
Investor Relations
+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 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; currency fluctuations; and
impact of the COVID-19 pandemic.
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, unknown impact related to potential business disruptions
stemming from the COVID-19 outbreak, or another infectious illness, 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/261839