LODE GOLD RESOURCES INC. - SBMIF STOCK NEWS

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.

Lode Gold Minerals announces the appointment of Winfield Ding as Chief Financial Officer, effective immediately. Ding brings over twenty years of finance and operations experience, having previously served as CFO and Director for multiple public companies in Canada and the US. He has a strong background in audit, taxation, advisory, and financial reporting for public issuers, with notable experience in cross-border transactions and IPOs.

Concurrent with this appointment, Brendan Blair, the current CFO, and Gary Nassif, the current Senior Vice President, have resigned to pursue other opportunities. Blair has been with Lode Gold for 12 years, guiding the company through a challenging decade for junior mining, while Nassif was instrumental in the company's acquisition of Fremont, California, and the completion of their PEA study.

CEO Wendy T. Chan assures that day-to-day operations will continue smoothly as the company focuses on building a core team with expertise in capital markets and technical proficiencies.

Lode Gold Resources (TSXV: LOD, OTCQB: SBMIF) has shared a mid-year update on its 3-Step Restructuring & Growth Strategy for 2024. The plan, approved in October 2023, has driven significant milestones including a C$2.08M oversubscribed private placement and an increase in market capitalization from $3.3M in November 2023 to $14M by June 2024.

Key achievements include expanding ownership in Yukon and New Brunswick, and commissioning a geophysical survey for its Golden Culvert and Win projects in Yukon. They have also identified an underground mining opportunity at Fremont, Mariposa, targeting 2M Oz of gold at 5 g/t Au.

The team has been strengthened with industry veterans and the company has launched a new website for enhanced marketing and investor relations. Upcoming plans include spinning out Canadian assets into a new entity, Gold Orogen, and a 4,500m drill campaign at Fremont.

Stock options have been granted to various directors and officers, exercisable at $0.05 per share over five years.

Lode Gold Minerals has released a report evaluating the potential for high-grade underground mining at its Fremont property in Mariposa, California, part of the historic Mother Lode Gold Belt. This evaluation highlights significant historical data, including 42,700 meters of drilling and an average historical channel sampling grade of 4.7 g/t Au. The study reveals that only 16% of the upper 500 meters of the structure has been explored, with high-grade gold mineralization found in veins, stockworks, and outside the veins. The report outlines a new 4,500-meter drilling plan to expand current resources and confirm high-grade underground potential. Statistical analysis of historical data shows consistent vein widths and gold grades, guiding future exploration efforts.

Lode Gold has successfully repaid all its short-term working capital loans amounting to $500,000 as of March 2024. This move is part of the company's ongoing efforts to enhance its balance sheet and boost shareholder value. The loan agreements were previously detailed in a press release dated September 27, 2023. Lode Gold remains committed to executing its strategic plans aimed at financial stability and growth.