Lode Gold Appoints New Chief Financial Officer

Rhea-AI Summary

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.

Positive

• Appointment of Winfield Ding as CFO, bringing over 20 years of experience.
• Ding's experience in IPOs/RTOs and cross-border transactions could enhance financial strategy.
• Focus on building a core team with expertise in capital markets and technical proficiencies.

Negative

• Resignation of Brendan Blair, CFO of 12 years, could lead to transitional challenges.
• Departure of Gary Nassif, who played a key role in major company projects, may impact ongoing initiatives.

Announces Management Changes

Toronto, Ontario--(Newsfile Corp. - July 3, 2024) - Lode Gold Minerals Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company") announces it has appointed Winfield Ding as Chief Financial Officer, effective immediately.

Winfield has been CFO and Director for several public companies in Canada and US. He is a seasoned senior finance executive with over twenty years of finance and operations experience. A former audit manager and currently a self-practitioner, he worked in audit, taxation and advisory across a wide range of industries with a focus on public issuers financial reporting and advising Asian investors doing business in Canada. He has assisted in multiple IPO/RTOs of overseas companies in TSX Venture Exchange and is experienced in structuring cross-border complex transactions. He holds an MBA degree and is a Chartered Professional Accountant of Ontario.

The Company also reports that Brendan Blair, current CFO and Gary Nassif, current Senior Vice President have resigned from the Company to pursue other opportunities.

The Company would like to thank both of them for their dedication and contribution to the Company during its transitory and pivotal years. Gary joined as a Director, then later as SVP of Lode Gold where he assisted in the acquisition of Fremont, California and the completion of the PEA study. Brendan Blair has been with Lode Gold for 12 years as Controller/CFO and has helped steer the Company through a challenging decade for junior mining. Lode Gold wishes them well in their future endeavors.

"Lode Gold's day-to-day operations will carry on unabated," said Wendy T. Chan, CEO of Lode Gold. "Prioritizing people first, then business, we remain focused on building a core team with expertise in key functional areas that will enable us to lead and excel in capital market and technical proficiencies."

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 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. 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 111 km² 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. A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV(5%) of USD $370MM and a 31% IRR over an 11-year LOM. 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 five gold-mineralized zones. Significantly, three step-out holes at depth hit mineralized 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 March 31, 2023 under NI 43-101 guidelines. The technical report has been reviewed and approved by independent "Qualified Persons" Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

QUALIFIED PERSON STATEMENT

Buddy Doyle, FAusIMM is the author of this news release. 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.lode-gold.com or contact:

Kevin Shum
Investor Relations
info@lode-gold.com
+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/215450

FAQ

Who is the new CFO of Lode Gold Minerals?

Winfield Ding has been appointed as the new Chief Financial Officer of Lode Gold Minerals, effective immediately.

What experience does Winfield Ding bring to Lode Gold Minerals?

Winfield Ding has over twenty years of finance and operations experience, including audit, taxation, advisory, and financial reporting for public issuers. He has also assisted in multiple IPOs and complex cross-border transactions.

Why did Brendan Blair resign from Lode Gold Minerals?

Brendan Blair, who served as CFO for 12 years, resigned to pursue other opportunities.

How will the resignation of Gary Nassif impact Lode Gold Minerals?

Gary Nassif's resignation may impact ongoing initiatives, as he was instrumental in significant projects such as the acquisition of Fremont, California, and the completion of the PEA study.

What is Lode Gold Minerals' stock symbol?

Lode Gold Minerals' stock symbol is SBMIF.