Lode Gold Evaluates Underground Mining Potential at Dingman Gold Project (Ontario) & Initiates New Geological Model (MRE: 376,000 Oz Au M&I + 47,000 Oz Au Inferred)

Core Viewpoint - Lode Gold Resources Inc is initiating a new geological model for its Dingman Gold Project in Ontario, aiming to enhance the understanding of mineralization and explore options for advancing the project, including potential joint ventures or spin-outs [1][9]. Project Overview - The Dingman Gold Project has a current NI 43-101 resource estimate of 376,000 ounces of gold in the measured and indicated categories and 47,000 ounces in the inferred category [1][12]. - The project is located in Hastings County, Ontario, approximately 175 km northeast of Toronto, and is accessible via regional infrastructure [3][12]. - Historically, the project has been evaluated using an open-pit mining concept, with a Preliminary Economic Assessment completed in 2013 indicating positive economics at a gold price of US$1,800 per ounce [4][12]. Geological Model and Evaluation - The new geological model will focus on shear-hosted gold structures with strong structural controls, which may be suitable for underground mining methods [6][8]. - This approach contrasts with previous evaluations that used broader grade envelopes for open-pit scenarios, aiming to better align with current gold prices and modern mining concepts [7][8]. - The geological reinterpretation is expected to provide a more accurate representation of the deposit's geometry and grade distribution, similar to the evolution seen in the Fremont Gold Project [8][13]. Future Plans - Upon completion of the new geological model, the company plans to conduct a new Mineral Resource Estimate in accordance with NI 43-101 standards [9][10]. - The updated estimate will serve as the technical foundation for future evaluations and development studies at the Dingman project [9][10]. - Work on the geological model is currently underway, with further updates to be provided as the interpretation progresses [11].