Lode Gold Sets Date for Shareholder Meeting to Approve Plan of Arrangement for Spinout Monday, March 10, 2025 at 10AM MST
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) has scheduled a shareholder meeting for March 10, 2025, at 10:00 AM MST to approve the tax-efficient spinout of Gold Orogen. The companies will trade separately 5-10 days after shareholder and TSX-V approval. A private placement is planned to close by March 10, offering units at $0.18 with warrants exercisable at $0.35.
Post spin-off, Gold Orogen will focus on exploration with two key assets: a 99.5 km² property in Yukon's Tombstone Belt with 4 Reduced Intrusive Targets, and a 445 km² package in New Brunswick. Lode Gold will retain the Fremont Gold project on the Mother Lode Belt, featuring 3,351 acres of private patented land with underground mine potential. The project has a 2023 MRE of 1 Moz (M&I) + 2 Moz (Inf) and a PEA showing after-tax NPV (5%) of USD $370M, 31% IRR, and 11-year mine life at $2,000/oz Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) ha programmato un incontro tra azionisti per il 10 marzo 2025, alle 10:00 MST, per approvare la scissione fiscale efficiente di Gold Orogen. Le aziende verranno scambiate separatamente 5-10 giorni dopo l'approvazione degli azionisti e della TSX-V. È prevista una collocazione privata che si chiuderà entro il 10 marzo, offrendo unità a $0,18 con warrant esercitabili a $0,35.
Dopo la scissione, Gold Orogen si concentrerà sull'esplorazione con due asset chiave: una proprietà di 99,5 km² nella Tombstone Belt dello Yukon con 4 obiettivi intrusivi ridotti, e un pacchetto di 445 km² nel New Brunswick. Lode Gold manterrà il progetto Fremont Gold nella Mother Lode Belt, che presenta 3.351 acri di terreno privato con potenziale minerario sotterraneo. Il progetto ha una MRE 2023 di 1 Moz (M&I) + 2 Moz (Inf) e una PEA che mostra un NPV post-tasse (5%) di 370 milioni di USD, 31% IRR e una vita mineraria di 11 anni a $2.000/oz Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) ha programado una reunión de accionistas para el 10 de marzo de 2025, a las 10:00 AM MST, para aprobar la escisión fiscalmente eficiente de Gold Orogen. Las empresas se negociarán por separado 5-10 días después de la aprobación de los accionistas y de la TSX-V. Se planea un placement privado que se cerrará antes del 10 de marzo, ofreciendo unidades a $0.18 con warrants ejercitables a $0.35.
Después de la escisión, Gold Orogen se centrará en la exploración con dos activos clave: una propiedad de 99.5 km² en la Tombstone Belt de Yukón con 4 objetivos intrusivos reducidos, y un paquete de 445 km² en New Brunswick. Lode Gold retendrá el proyecto Fremont Gold en la Mother Lode Belt, que cuenta con 3,351 acres de tierra patentada privada con potencial de mina subterránea. El proyecto tiene una MRE 2023 de 1 Moz (M&I) + 2 Moz (Inf) y un PEA que muestra un NPV después de impuestos (5%) de 370 millones de USD, 31% IRR y una vida útil de la mina de 11 años a $2,000/oz Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF)는 Gold Orogen의 세금 효율적인 분사를 승인하기 위해 2025년 3월 10일 오전 10시 MST에 주주 회의를 예정하고 있습니다. 주주 및 TSX-V 승인이 난 후 5-10일 내에 두 회사는 별도로 거래됩니다. 3월 10일까지 마감될 예정인 사모 배치는 $0.18에 유닛을 제공하며, $0.35에 행사 가능한 워런트를 포함합니다.
분사 후, Gold Orogen은 두 가지 주요 자산으로 탐사에 집중할 것입니다: 4개의 축소된 침투 목표가 있는 유콘의 Tombstone Belt에 위치한 99.5 km²의 부동산과 뉴브런즈윅에 있는 445 km² 패키지입니다. Lode Gold는 Mother Lode Belt에서 Fremont Gold 프로젝트를 유지하며, 3,351 에이커의 개인 특허 토지와 지하 광산 잠재력을 가지고 있습니다. 이 프로젝트의 2023 MRE는 1 Moz (M&I) + 2 Moz (Inf)이며, 세후 NPV (5%)는 3억 7천만 달러, 31% IRR, $2,000/oz Au에서 11년의 광산 수명을 보여줍니다.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) a prévu une assemblée générale des actionnaires pour le 10 mars 2025 à 10h00 MST afin d'approuver la scission fiscalement efficace de Gold Orogen. Les entreprises seront échangées séparément 5 à 10 jours après l'approbation des actionnaires et de la TSX-V. Un placement privé est prévu pour se clôturer d'ici le 10 mars, offrant des unités à 0,18 $ avec des bons de souscription exerçables à 0,35 $.
Après la scission, Gold Orogen se concentrera sur l'exploration avec deux actifs clés : une propriété de 99,5 km² dans la Tombstone Belt du Yukon avec 4 cibles intrusives réduites, et un ensemble de 445 km² au Nouveau-Brunswick. Lode Gold conservera le projet Fremont Gold dans la Mother Lode Belt, qui dispose de 3 351 acres de terres privées brevetées avec un potentiel minier souterrain. Le projet a une MRE 2023 de 1 Moz (M&I) + 2 Moz (Inf) et une PEA montrant un NPV après impôt (5 %) de 370 millions USD, un IRR de 31 % et une durée de vie de la mine de 11 ans à 2 000 $/oz Au.
Lode Gold Resources (TSXV: LOD) (OTCQB: LODFF) hat eine Hauptversammlung für den 10. März 2025 um 10:00 Uhr MST angesetzt, um die steuerlich effiziente Abspaltung von Gold Orogen zu genehmigen. Die Unternehmen werden 5-10 Tage nach Genehmigung durch die Aktionäre und die TSX-V separat gehandelt. Eine Privatplatzierung ist geplant, die bis zum 10. März abgeschlossen sein soll und Einheiten zu $0,18 mit Optionen zu $0,35 anbieten wird.
Nach der Abspaltung wird sich Gold Orogen auf die Exploration mit zwei Schlüsselressourcen konzentrieren: einem 99,5 km² großen Grundstück im Tombstone Belt des Yukon mit 4 reduzierten intrusiven Zielen und einem 445 km² großen Paket in New Brunswick. Lode Gold wird das Fremont Gold-Projekt im Mother Lode Belt behalten, das 3.351 Acres privaten patentierten Landes mit unterirdischem Bergbaupotenzial umfasst. Das Projekt hat eine MRE 2023 von 1 Moz (M&I) + 2 Moz (Inf) und eine PEA, die einen nach Steuern berechneten NPV (5%) von 370 Millionen USD, 31% IRR und eine Lebensdauer der Mine von 11 Jahren bei $2.000/oz Au zeigt.
- 2023 PEA shows strong economics with USD $370M NPV and 31% IRR
- Substantial resource base of 1 Moz M&I plus 2 Moz Inferred
- Strategic tax-efficient spinout creating two focused entities
- Project located on private patented land, reducing permitting complexity
- Existing infrastructure with road, rail, power, and water access
- Project requires county approval in Mariposa
- Private placement may lead to shareholder dilution
Toronto, Ontario--(Newsfile Corp. - February 19, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) ("Lode Gold" or the "Company") is pleased to announce that a shareholder meeting has been scheduled to approve the plan of arrangement for the tax-efficient spinout of Gold Orogen. The meeting will take place on Monday, March 10, 2025, at 10:00 AM MST. Details regarding Lode Gold's Annual General Meeting (AGM) are available on our website: https://lode-gold.com/investors/2024-agm/.
The two companies will trade as separate entities upon court filing with the court, 5 to 10 days after shareholder and TSX-V approval.
Before the Record Date, all Lode Gold shareholders will receive Gold Orogen spinout shares. The Company plans to close its private placement by March 10, 2025. Each
Upon completion of the spin-off, the Companies will be structured as follows:
Gold Orogen (Spin Co.)
Gold Orogen is an exploration pure play with two choice assets. Both assets are located in highly prospective areas and each can potentially be a company maker and a standalone asset.
Asset 1:
- 27 km strike, 99.5 km2 in Yukon, prolific Tombstone Belt (Snowline, 3 Aces, Rackla)
- Total of 4 Reduced Intrusive Targets (RIRGS similar to Snowline)
Confirmed on WIN:
- Signature host rocks, hornfels and reduced intrusives
- High bismuth to gold ratio, gold-bearing sheeted quartz veins
Asset 2:
- New Brunswick: created one of the largest land packages at 445 km2
- Geological analogue to New Found Gold, Galway, Calibre Mining
- Confirmed gold endowment - mineralized rhyolites (same geology as Puma-Kinross)
Lode Gold (Parent): Underground Mine Potential (previously mined at 10.7 g/t Au)
The Fremont Gold project is located on the Mother Lode Belt Lode Gold on patented private land in Mariposa County. Lode Gold is the first owner since mining suspension in 1942, to evaluate the project as an underground opportunity.
- Fremont: 4km strike on the Mother Lode Belt
- Private patented land: 3,351 acres,
100% owned in Mariposa County (Need County Approval; 5 Supervisors oversee County*) *County: 17,000 and Town: 2,000 people - Mariposa is designated as one of Trump Administration's Opportunity Zones, designated for expedited investments and tax incentives
- California: 700 permitted mines; 14 gold mines
- Target: 2 Moz underground 4 g/t Au (Previously mined in the 1930's at 10.7 g/t)
- Typical Orogenic Deposit with Structure & Controls
- 3 Step-Out Holes hit structure and were mineralized (up to 1300m)
- 2 nearby mines were up to 1,800m deep at 13 g/t
- Brownfield with 23 km of underground workings and over 43,000 m drilled (cores preserved)
- Only
8% of the MRE exploited; mostly in the first 250 m; much has been left unmined - 2023 MRE: 1 Moz (M&I) + 2 Moz (Inf)
- 2023 PEA at USD
$2,000 /oz Au: After-tax NPV (5% ) USD$370M ,31% IRR, 11 years LOM - Close to road, rail, power, water
- Mine suspended in 1942 for the war effort
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, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 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. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.
In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 445 km2 and a 44 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. Riley Brook is a 335 km2 package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.
In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1930's.
Mining was halted in 1942 due the gold mining prohibition in World War Two (WWII) just as it was ramping up production. Unlike typical brownfield projects that are mined out, only
The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.
Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment ("PEA"). A sensitivity to the March 31, 2023 PEA at USD
All NI 43-101 technical reports 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
Winfield Ding
CFO
info@lode-gold.com
+1-604-977-4653
Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702
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/241602
FAQ
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