Lode Gold (Formerly Stratabound) Announces Extension of Non-Brokered Financing
Lode Gold (Formerly Stratabound) Announces
Extension of Non-Brokered Financing
Toronto, Ontario--(Newsfile Corp. - February 15, 2024) -
Lode Gold Minerals Corp. (TSXV: LOD)
(OTCQB: SBMIF)
("Lode Gold " or the "Company" and formerly Stratabound Minerals) announces that
it has been granted an extension by the TSX Venture Exchange to complete its non-brokered financing
for gross proceeds of up to $1.5 million at the terms set out in the news release of January 3, 2024. The
extended date for final acceptance of the offering is March 5, 2024. It is anticipated that all members of
the Board of Directors will be participating in the financing. The offering remains subject to final approval
of the TSXV.
ABOUT LODE GOLD
Lode Gold is a Canadian exploration and development company with grassroots and advanced
exploration properties in highly prospective and safe mining jurisdictions.
Its Golden Culvert and Win Projects, Yukon, covering 99.5 km
2
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
. Gold deposits and occurrences within the Belt include Fort Knox, Pogo,
Brewery Creek and Dublin Gulch, and Snowline Gold's Valley target on its Rogue property in the Selwyn
Basin.
Its
McIntyre Brook Project, New Brunswick, covering 120 km
2
and a 17-km strike length in the
emerging Triple Fault Gold Belt
, is surrounded by Puma Exploration's Williams Brook Project (5.55
g/t Au over 50m) and is hosted by orogenic rocks of similar age and structure as New Found Gold's
Queensway Project.
The Company is also advancing its
Fremont Gold development project in the historic Mother Lode
Gold Belt of California where 50,000,000 oz of gold has been produced.
Fremont, located 500km
north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA with an after-tax NPV of USD
$217MM, a 21% IRR, 11-year LOM, averaging 118k ounces per annum at USD $1,750 gold. 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 length of the
Fremont property that features 4 gold-mineralized zones.
Significantly, three step-out holes at
depth hit structure, typical of orogenic deposits that often occur at depth
.
Fremont is located
on private land
in Mariposa, the original gold rush county and is 1.5 hours from Fresno,
California
. The property has year-round road access and is close to airports and rail. Please refer to the
Fremont Gold project PEA dated Apr. 4, 2023 under NI 43-101 guidelines. The technical report has
been reviewed and approved by independent "Qualified Persons" Eugene Pruitt, P.Eng., FEC, CET,
and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.
The Company also holds a pipeline of early-stage exploration projects including the critical mineral
Captain Cobalt-Copper-Gold Deposit in New Brunswick and the Dingman Gold Project, Ontario.
QUALIFIED PERSON STATEMENT
The scientific and technical information contained in this press release has been reviewed and approved
by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a
"qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101").
For more information, please visit the Company's website at
www.stratabound.com
or contact:
Gary Nassif
Senior Vice President, Director
+1 (416) 915-4157
Kevin Shum
Investor Relations
+1 (647) 725-3888 ext. 702
Forward-Looking Statements
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.
WARNING:
The Company relies upon litigation protection for "forward-looking" statements. The
information in this release may contain forward-looking information under applicable securities laws.
This forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause actual results to differ materially from those implied by the forward-looking information.
Factors that may cause actual results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral deposits, currency fluctuations,
unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain
regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits,
changes in general economic conditions or conditions in the financial markets and the inability to raise
additional financing. Readers are cautioned not to place undue reliance on this forward-looking
information. The Company does not assume the obligation to revise or update this forward-looking
information after the date of this release or to revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/198174