Lode Gold upsizes private placement to $9M; closes first tranche $8M

Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - Lode Gold Resources Inc ( TSXV: LOD) (OTCQB: LODFF ) ("Lode Gold" or the "Company") is pleased to announce that due to strong investor demand, it has upsized private placement to $9M and it has closed an $8M first tranche. This non-brokered over subscribed private placement financing (the "Offering") was previously announced on July 13, 2026. The second and final tranche will close on or before July 31, 2026.

The Company has issued 29,845,074 units (the "Units" or "Unit") at a price of US$0.27 per Unit, for aggregate gross proceeds of approximately $8.06 million. All securities issued will be subject to a statutory hold period in accordance with TSXV Policies. Closing of the financing is subject to receipt of approval from the TSX Venture Exchange.

Each Unit is comprised of one (1) common share ("Share") and one (1) common share purchase warrant ("Warrant"). Each Warrant shall entitle the holder to purchase one additional Share at an exercise price of $0.45 cents for a period of thirty-six (36) months following the date of issuance. The Warrants contain an acceleration clause whereby if the closing price of the Shares is equal to or exceeds $0.80 for a period of 10 consecutive trading days, the Company may accelerate the expiry of the Warrants such that the Warrants will expire 30 days from the date that the Company provides notice of acceleration.

Insider Participation - Coast Capital, a key institutional shareholder of Lode Gold, subscribed for 5,185,185 Units for gross proceeds of $1,400,000, representing 17% of the Offering's first tranche closing. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101 ") contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation. Proceeds from the offering will be used to advance technical work at the Fremont Gold Mine ("Fremont"), strengthen the balance sheet and provide general working capital.

Specifically relating to Fremont, the focus of technical work will include the upcoming drill program in support of a Preliminary Feasibility Study (PFS), metallurgical, geotechnical and rock mechanic studies and engineering. An initial mine plan will be developed to initiate environmental and permitting work later this year. 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.