Lode Gold (Formerly Stratabound) Appoints Carlos Saban to Its Technical Advisory Board

Rhea-AI Summary

Lode Gold Minerals Corp. (SBMIF) appoints Carlos Saban to its Technical Advisory Board to advance the Fremont Gold project in California. Saban's expertise in geological exploration and mineralization systems will help identify new targets at Fremont, with a focus on high-grade ounces. The company also granted a total of 8,333,364 incentive stock options to directors, management, an advisor, and a consultant, each entitling the holder to subscribe for one common share of Lode Gold for $0.05 for a period of 5 years.

Toronto, Ontario--(Newsfile Corp. - February 5, 2024) - Lode Gold Minerals Corp. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company" and formerly Stratabound Minerals) is pleased to announce it has appointed Carlos Saban to its Technical Advisory Board to help advance the Fremont Gold project in California.

Carlos Saban is a skilled mining geologist who has a strong understanding of mineralized systems, mine economics and development. He has over a decade of professional geological exploration experience spanning a few continents. He spent his formative years in Peru, where his contributions have been key to understanding deposits and expanding resources, both greenfield and brownfield. Carlos has been involved in the identification, delineation, and modelling of several NI 43-101 compliant multi-million-ounce precious metal projects during his career. He holds a BSc. in Geology from Complutense University of Madrid.

Wendy T. Chan, CEO of Lode Gold, comments, "Carlos' diversified and hands-on geological expertise and fresh perspective in this dynamic market environment is just what we require at this juncture. Partnering with our seasoned exploration team, we aim to leverage his experience to identify new targets at Fremont, with a clear focus on additional high-grade ounces. The historical Pine Tree-Josephine Mine at Fremont had a back-calculated production grade of 8 g/t Au. There is an untapped opportunity here on which we plan to capitalize in the upcoming months."

Lode Gold Director and Technical Committee Chair, Jonathan Hill, states, "We welcome Carlos who brings a wealth of knowledge and experience with modeling and estimating complex mineralization systems. Carlos will immediately focus on generating targets extending historical high-grade mining areas well beyond the limits of the current published resource at Lode's high potential Fremont Gold project in California."

STOCK OPTIONS

The Company also announces that effective January 30, 2024, it has granted a total of 8,333,364 incentive stock options to directors, management, an advisor and a consultant pursuant to its incentive stock option plan ("Plan"). Each stock option entitles the holder to subscribe for one common share of Lode Gold for $0.05 for a period of 5 years, subject to the terms of the Plan. The stock options shall vest in accordance with the Company's Stock Option Plan.

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 120 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. 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 4 gold-mineralized zones. Significantly, three step-out holes at depth hit 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 Apr. 4, 2023 under NI 43-101 guidelines. The technical report has been reviewed and approved by independent "Qualified Persons" Eugene Pruitt, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both of P&E, and Travis Manning, P.E. of KCA.

The Company also holds a pipeline of early-stage exploration projects including the critical mineral Captain Cobalt-Copper-Gold Deposit in New Brunswick and the Dingman Gold Project, Ontario.

QUALIFIED PERSON STATEMENT

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.stratabound.com or contact:

Gary Nassif
Senior Vice President, Director
info@stratabound.com
+1 (416) 915-4157

Kevin Shum
Investor Relations
kevin@jeminicapital.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/196913

FAQ

What is the latest appointment made by Lode Gold Minerals Corp. (SBMIF)?

Lode Gold Minerals Corp. (SBMIF) appointed Carlos Saban to its Technical Advisory Board to advance the Fremont Gold project in California.

What is the focus of Carlos Saban's expertise in relation to the Fremont Gold project?

Carlos Saban's expertise in geological exploration and mineralization systems will help identify new targets at Fremont, with a focus on high-grade ounces.

How many incentive stock options were granted by Lode Gold Minerals Corp. (SBMIF)?

Lode Gold Minerals Corp. (SBMIF) granted a total of 8,333,364 incentive stock options to directors, management, an advisor, and a consultant.

What is the subscription price for one common share of Lode Gold under the incentive stock options?

Each stock option entitles the holder to subscribe for one common share of Lode Gold for $0.05 for a period of 5 years.