LODE GOLD RESOURCES INC - SBMIF STOCK NEWS

Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) has received TSXV conditional acceptance for a spinout transaction. The company will hold a shareholder meeting on March 10, 2025, to approve a tax-efficient plan of arrangement, with a record date of January 20, 2025.

Following completion, shareholders will receive shares in Gold Orogen, which will hold two key exploration assets: a 99.5 km² property in Yukon's Tombstone Gold Belt with four Reduced Intrusive Targets, and a 420 km² package in New Brunswick.

The parent company, Lode Gold, will retain the Fremont Gold project on the Mother Lode Belt, featuring a high-grade underground mine potential with a 2023 MRE of 1 Moz (M&I) + 2 Moz (Inf). The 2023 PEA shows an after-tax NPV (5%) of USD $370M, 31% IRR, and 11-year mine life at $2,000/oz Au.

Lode Gold Resources has identified two new Reduced Intrusive Related Gold System (RIRGS) targets, 'Stingray' and 'Camp', on its Golden Culvert property in Yukon, bringing the total RIRGS targets to four. The Golden Culvert property features a 15 km long gold anomaly, of which only 800m has been drill-tested. The 'Stingray' target centers around a Tombstone-tungsten quartz monzonite intrusion, while the 'Camp' target has yielded rock grab samples up to 48.1 g/t Au. The company also corrected a previous technical report, noting that the best drill interval was 2.53 g/t Au over 33.1m from hole GC18-03, not 12.53 g/t as initially reported.

Lode Gold Resources (TSXV: LOD) (OTCQB: SBMIF) announces its participation in the 121 Mining Investment event in London on November 14-15, 2024. The company outlines key initiatives across three projects: New Brunswick (Q1 2025 drilling planned after completing 1600 soil samples), Yukon (follow-up drilling on RIRGS targets), and California (Q4 2024 revised NI 43-101 MRE updating previous 1 Moz M&I + 2 Moz Inf resource). The California brownfield project, previously mined at 8 gpt, shows potential for a zero-emission mine with PEA 2023 indicating NPV of USD $371M at $2000/oz Au. A 4500m drill plan targets 2 Moz at 5 g/t Au.

Lode Gold Resources has submitted an application to the TSX Venture Exchange for approval of its planned spin-out of Gold Orogen. The company will hold a shareholder meeting in early December 2024 to seek approval for the Plan of Arrangement, with an information circular to be filed by early November 2024. Additionally, Lode Gold has completed a 10:1 share consolidation, resulting in 38,032,970 outstanding shares. The company's shares will begin trading on a consolidated basis on October 29, 2024, maintaining the trading symbol LOD. Four shareholders currently hold over 60% of the post-consolidated shares.

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) has announced that its wholly-owned subsidiary, Gold Orogen, has entered into a binding Definitive Agreement with Great Republic Mining (CSE: GRM) for a Reverse Take Over (RTO) transaction. This agreement, signed on October 21, 2024, will result in a tax-efficient spin-out, creating two pure play companies.

The new company, Gold Orogen, will have assets in Yukon and Atlantic Canada, focusing on exploration. It will launch with over $3 million in funding, with plans to raise an additional $1.5 million. Planned work programs include VTEM, SQUIDT, Soil Analysis, Geological Mapping, Trenching, and Drilling in the next 12 months.

CEO Wendy T. Chan stated that this milestone aligns with their business plan, creating two pure play companies to unlock shareholder value. The company has also initiated work programs in Yukon and New Brunswick following recent financings totaling over $4 million.

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) has initiated a Heliborne HeliTEM² Survey over the Riley Brook and McIntyre Brook properties in northern New Brunswick. This survey is part of the recently announced Acadian Gold Joint Venture with Fancamp Exploration The combined properties cover a 419 km2 land package of mineral claims, featuring gold mineralized zones extending over several kilometres.

The survey aims to identify electrically conductive sulphide-rich veins and alteration halos, map structures linked to gold mineralization, and generate fast-tracked targets. It will cover 3,163 line-kilometres of data with 150-metre spacing between flight lines. This initiative is expected to accelerate the exploration timeline and guide future field efforts.

The Acadian Gold Joint Venture positions Fancamp and Lode Gold as key players in an emerging, district-scale, Au-Cu exploration play in a highly prospective region for gold and polymetallic discovery.

Lode Gold has announced the identification of a new high-priority target named Steelhead at its WIN property in the Tombstone Belt, Yukon. This follows the analysis of data from a QMAGT survey conducted in summer 2024. The Steelhead target is a 4km² area of hornfels with anomalous gold and bismuth results in stream sediment samples. The QMAGT system has enhanced the geological understanding of the property, mapping Tombstone-Tungsten Cretaceous aged monzonite intrusions as magnetic lows and related hornfels as magnetic highs. This builds on the 2023 discovery of a RIRGS style sheeted vein system with gold values up to 8.3 g/t, named the Border Gold Zone. The survey also indicates a 3.5km strike extension of this mineralized zone. Lode Gold aims to rapidly generate drill targets based on these findings, adding to its established Golden Culvert targets.

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) has closed a $3.5 million financing and strategic alliance with Fancamp Exploration The deal includes:

1. $500,000 for 14,285,714 Special Warrants at $0.035 per unit, convertible to Lode Gold shares and warrants.

2. $3,000,000 investment in Gold Orogen, Lode Gold's subsidiary, for 19.9% ownership.

3. Formation of Acadian Gold Corp, a 50/50 joint venture between Gold Orogen and Fancamp, combining interests in McIntyre Brook and Riley Brook properties in New Brunswick.

4. Transfer of Golden Culvert and WIN Property to Gold Orogen.

The transaction is subject to final TSXV approval. Proceeds will fund general costs and development of the Fremont property.

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) has announced a non-binding Letter of Intent (LOI) for a tax-efficient spin-out transaction. The company's subsidiary, 1475039 B.C. (Gold Orogen), plans to acquire Great Republic Mining (GRM) through a Reverse Take Over (RTO). Upon completion, Lode Gold shareholders will own up to 74.16% of the resulting entity, which will continue as Gold Orogen.

The proposed RTO will be completed through a court-approved plan of arrangement. Conditions for closing include regulatory approvals, shareholder consent, and GRM having a minimum of $250,000 cash at closing with no liabilities. The anticipated timing for the Definitive Agreement and regulatory submissions is within the next two weeks, with the spin-out expected in Q4 2024.

Gold Orogen plans to raise an additional $1.5 million, bringing its total budget to $4.5 million for the first 12 months of exploration in Yukon and New Brunswick.