FireFox Gold Provides an Exploration Update on its Sarvi and Mustajärvi Projects, Lapland, Finland

FireFox Gold Corp. (TSXV:FFOX) (OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to provide an update on exploration at its 100%-controlled Sarvi and Mustajärvi gold projects in Lapland, Finland. FireFox has drilled approximately 8,319m of diamond core to date in the 2021-2022 drill program on the Jeesiö, Mustajärvi, and Sarvi Projects, including the first 12 holes at Sarvi. This release includes a summary of drill results from the first five widely spaced holes across the northern section of the Sarvi target area (See Figure 1: https:bit.ly3MU7CQR

This program also includes new drilling at the Mustajärvi Project, where possible extensions to the high-grade shear-zone-hosted gold mineralization have been tested at the East Target and Gabbro Target. The new drilling includes 10 holes, five holes at the East Target and five holes at the Gabbro Target. Results are pending for all of these recent holes.

The first hole at Sarvi, 22SA001, intersected low grade but significant gold mineralization across several intervals in an apparent downdip extension of the anomalous gold encountered in FireFox's first trenches in the area (see Company news release dated January 20, 2022). The rocks in this area are tholeiitic basalt, graphite tuff, and iron formation, which are interpreted to straddle the contact with the Porkonen Formation. This is the formation that hosts much of the Kiistala Shear Zone and Kittilä Mine to the west and northwest from Sarvi.

The gold zones in this hole were often accompanied by highly elevated silver and base metals, as summarized below:

17.0m at 0.134 g/t Au from 111.0m downhole depth, which was part of a thicker interval of high silver (25.5m at 1.94 g/t Ag);
2.60m at 0.189 g/t Au from 145.0m downhole and 7.20m at 0.119 g/t Au from 158.0m downhole, both of which are within an interval of 45.0m of elevated silver (1.29 g/t Au);
Additional narrow intervals of highly anomalous gold, including 1.0m at 0.42 g/t Au from 218.0m downhole; and
Associated enrichment in arsenic (As), antimony (Sb), bismuth (Bi), copper (Cu), molybdenum (Mo), tellurium (Te), zinc (Zn), and other elements.

"The team has drilled at four separate target areas during this campaign, and it is appropriate to finish up at Sarvi and Mustajärvi. The initial results at Sarvi are encouraging as we encountered significant low-grade gold and silver mineralization associated with graphite-bearing tuffites and iron formation, a favorable setting for gold mineralization in Lapland. Our first-ever drill hole at Sarvi confirmed the anomalous gold encountered in our trenches, and we have many other targets to test based on the base-of-till and magnetic anomalies to the southeast from these first drill holes. It is also important that we have drilled significant new step outs in the East Target and Gabbro at Mustajärvi. We look forward to receipt of the remainder of our assays from drilling at both projects during the summer," commented Carl Löfberg, President and CEO of FireFox.

Sarvi Program Details

The first drill campaign at Sarvi included 12 widely spaced drill holes totaling 2327.8 metres. The FireFox team targeted these holes based on both geochemical anomalies from base-of-till (BOT) sampling and prospective structural features interpreted from detailed geophysical data. Results for the 5 holes in the northwest portion of the original Sarvi permit are presented here.

Portions of the tholeiitic basalt, mafic (graphite) tuff, and banded iron formation that are interpreted to underlie the northwestern portion of the Sarvi Project are believed to be part of the Porkonen Formation. The Kiistila Shear Zone, which hosts Agnico Eagle's Kittilä Mine, cuts through the Porkonen Formation to the northwest from the Sarvi Project. FireFox geologists noted anomalous Au, Ag, As, Sb, Bi, Cu, Mo, Zn, and other elements in the BOT sampling in this part of the Sarvi Project. Prospecting also revealed localized areas of outcrop exhibiting silicification, partially oxidized sulfide minerals (gossan), and highly anomalous As and base metals. Follow-up trenching in 2021 confirmed the presence of elevated gold and associated elements, highlighted by 18.0m averaging 0.23 g/t Au. Drill hole 22SA001 confirms the continuation of this low-grade gold zone to depth.

The first drill hole passed through graphite-bearing tuff and schists in the upper portion of the hole with occasional semi-massive to massive pyrrhotite (lesser pyrite) that appear to be exhalative in nature. The exhalate horizons are sometimes cut by iron-carbonate veins and stockworks. The best gold zone is 17.0m at 0.134 g/t, but much of the upper portion of the hole is anomalous in Au, and gold enrichment is always associated with elevated Ag, As, Sb, Bi, Cu, Mo, Te, and Zn. At greater depths in the hole, sphalerite (zinc sulfide) is associated with the iron-carbonate veining. Copper and zinc are also broadly elevated in the hole, but isolated maximum values in the hole are 0.2% for Cu and 0.54% for Zn.

Below the anomalous sulfide-rich zones in the tuff and schists the drill hole passed into more massive mafic volcanics without abundant sulfides. Given the wide spaced drilling and limited sampling in the area so far, this target remains open in all directions for follow-up exploration.

Drill holes 22SA002, 003, and 004 were aimed at various anomalies from till and heavy mineral sampling. These holes penetrated similar volcanic geology, but with more massive volcanic units and much less evidence of exhalite or sulfide mineralization. Each of the holes exhibited anomalous geochemistry in pathfinder elements but without corresponding significant enrichment in gold or silver.

Drill hole 22SA005 was located farther to the northeast to test anomalous BOT geochemistry and an interpreted structure. The hole encountered deeper water black shales and graphitic mudstones, but the hole collapsed in a fault zone and was terminated at 172m depth. The final sample in the hole assayed 31.2 g/t silver, but without corresponding enrichment in gold.

The remaining drill holes at Sarvi were drilled in a different geological setting on the southeastern third of the permit area. The geology in that area is interpreted to be dominated by mafic volcanics, volcaniclastics, graphite schists, and sedimentary rocks. Most of the drilling in that area was targeted on geochemical BOT anomalies associated with magnetic lows and interpreted faults, some of which are projected from areas to the south being explored by Rupert Resources and B2 Gold. The results for holes 22SA006 to 22SA012 are not yet complete and will be reported separately.

Table 1. Sarvi Collar Information (coordinates presented in EPSG:3067)

Drill Hole	Easting	Northing	Depth (m)	Azimuth (°)	Plunge (°)
22SA001	451740.4	7501785	253.7	140	45
22SA002	452260.5	7501192	271.4	135	45
22SA003	453513.1	7501236	214.7	100	45
22SA004	453606.7	7501589	232.8	360	45
22SA005	454323.6	7502130	171.7	360	45
22SA006	453834	7500785	139.8	180	45
22SA007	454429	7501047	214.6	180	45
22SA008	454535	7500809	200	125	45
22SA009	454528	7500890	99.7	180	45
22SA010	455178	7500633	178.2	300	45
22SA011	454850.4	7501168	145.7	120	45
22SA012	454574.9	7500582	205.5	310	45

Mustajärvi Update

Following the completion of the drilling at Sarvi, FireFox moved the drill rig back to the Mustajärvi Project. On April 5, 2022, FireFox reported results from two holes in the high-grade zone at the Northeast Target and one shallow hole in the East Target. The team has completed 10 additional holes at Mustajärvi so far with several more holes pending. The new drilling includes five holes into the East Target and five holes into the Gabbro Zone on the western end of the property (see Figure 2: https://bit.ly/3MT2UD2).

The focus of this drill campaign has been on new targets with significant potential to extend the thickness and strike length of known gold mineralization at Mustajärvi. The East Target has already yielded several significant intercepts of near-surface gold, such as4.0m averaging 6.35 g/t of Au from 13.6m down hole, including 0.8m at 25.93 g/t Au (see Company news releases dated January 25 and April 5, 2022).

The program is on-going and expected to be completed by the end of the month.

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankylä, where FireFox's exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay intervals were generally 1 metre but in some circumstances were modified according to lithological boundaries and other factors. FireFox geologists maintained chain of custody and sampling procedures according to best industry practice and with due attention to quality assurance and quality control, including sampling field duplicates and insertion of certified standard and blank samples.

FireFox team members transported the samples to an ALS sample prep lab in Sodankylä. The samples were sawed then crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to the ALS facility in Rosia Montana, Romania for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24). Other elements, altogether 48, were measured after four-acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

ALS Laboratories is a leading international provider of assay and analytical data to the mining industry. All ALS geochemical hub laboratories, including the Irish facility, are accredited to ISO/IEC 17025:2017 for specific analytical procedures. The Firefox QA/QC program consists of insertion of certificated standard material and blanks inserted by Firefox into the analytical batches did not show deviations from recommended values.

QP Statement

Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and approved, the technical information in this news release.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a huge portfolio of prospective ground.

Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.

For more information, please refer to the Company's website and profile on the SEDAR website at www.sedar.com.

On behalf of the Board of Directors,

"Carl Löfberg"
Chief Executive Officer

CONTACT:

FireFox Gold Corp.
Email: janice@firefoxgold.com
Telephone: +1-778-938-1994

Forward Looking Statements

The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19 virus, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.

Forward-looking statements in this release may include statements regarding: the intent to conduct additional drilling; the belief as to the location of the most prospective gold targets; the location of targets for future drill programs; and the current and future work program, including the extent and nature of exploration to be conducted in 2022. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary.

The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.

SOURCE: FireFox Gold Corp

View source version on accesswire.com:
https://www.accesswire.com/702965/FireFox-Gold-Provides-an-Exploration-Update-on-its-Sarvi-and-Mustajrvi-Projects-Lapland-Finland

News Provided by ACCESSWIRE via QuoteMedia

precious metals investing tsxv:ffox firefox gold Precious Metals Investing

FFOX:CA

AGNICO EAGLE ANNOUNCES FINANCING AND AN EARN-IN AGREEMENT WITH FIREFOX GOLD CORP.

Stock Symbol: AEM (NYSE and TSX)

Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) ("Agnico Eagle") announced today that it has acquired 19,010,000 units ("Units") of FireFox Gold Corp. (TSX-V: FFOX) ("FireFox") in a non-brokered private placement at a price of $0.075 per Unit for total consideration of approximately $1,425,750 . Each Unit was comprised of one common share of FireFox (a "Common Share") and one common share purchase warrant of FireFox (a "Warrant"). Each Warrant entitles the holder to acquire one Common Share at a price of $0.10 at any time prior to December 20, 2028 subject to acceleration of the expiry date upon the occurrence of certain events.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

FireFox Gold Announces the Closing of a Strategic Financing and an Option Agreement with Agnico Eagle Mines Limited

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") today announced that it closed a non-brokered private placement of 22,507,840 units of the Company ("Units") at a purchase price of $0.075 per Unit, for total gross proceeds of $1,688,088 (the "Private Placement"). Concurrent with the Private Placement, FireFox, together with its wholly-owned subsidiary FireFox Gold Oy, entered into an earn-in agreement (the "Earn-in Agreement"), pursuant to which FireFox Gold Oy granted a subsidiary of Agnico Eagle Mines Limited ("Agnico") the right to earn an interest in the Kolho properties located in northern Finland (the "Kolho Property

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Firefox Gold Announces Non-Brokered Private Placement

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") announces that it intends to raise up to $1,400,000 by way of a non-brokered private placement (the "Private Placement"). The Private Placement will consist of up to 20,000,000 units of the Company ("Units") at a price of $0.07per Unit. Each Unit will consist of one common share of the Company ("Common Share") and one common share purchase warrant ("Warrant"), with each whole Warrant being exercisable to acquire one common share of the Company (a "Warrant Share") at an exercise price of $0.10 per Warrant Share for a term of two years following the closing of the Offering

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

FireFox Reports Extensions from Major Step-out Drilling and 6.87m of 59.12 g/t Gold in the First Trench at the East Target, Mustajärvi Gold Project, Finland

FireFox Gold Corp. (TSX.V:FFOX)(OTCQB:FFOXF) ("FireFox" or the "Company") is pleased to report the results from the final four holes of the spring 2023 core drilling campaign at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill holes 23MJ005, 23MJ007, 23MJ008 and 23MJ009 at the East Target all encountered significant intervals of gold mineralization (Figure 1). Most encouraging were the holes to the southwest of the previous high-grade zone, which highlight the potential for significant expansion of the East Target in this direction. Company geologists also conducted a limited test trenching campaign over the surface expression of the East Target. The first trench revealed bonanza grade gold mineralization including 6.87 metres that averaged 59.12 gt Au on the basis of uncut results from 1-kilogram screen fire assays (Figure 3 and Table 3

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

FireFox Gold Drills 20.4 metres at 5.1 g/t Gold and Extends the Footprint of Mineralization at Mustajärvi East Target in Finland

FireFox Gold Corp. (TSXV:FFOX)(OTCQB:FFOXF)("FireFox" or the "Company") is pleased to report the results from the first four holes of the spring 2023 core drilling campaign at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill holes 23MJ001, 23MJ002, 23MJ003 and 23MJ004 at the East Target all encountered several significant intervals of gold mineralization and extended the mineralization to the northwest, southwest, southeast, and downdip. Each hole yielded assays above 10.0 gt gold. Highlights of selected intervals are shown below, while Table 1 includes all significant intercepts

23MJ001
- 11.95m averaging 9.69 g/t Au from 5.4 metres down hole (includes 0.3 metres of core loss);
  - including 0.75m at 94.50 g/t Au; and
- 5.35m averaging 8.09 g/t Au from 37.25 metres down hole;
  - including 0.85 m at 28.87 g/t Au.
23MJ002
- 7.35 m averaging 2.40 g/t Au from 60.0 metres down hole;
  - including 1.0 meter at 10.51 g/t Au; and
- 9.00 m averaging 1.06 g/ Au from 103.0 metres down hole.
23MJ003
- 9.50 m averaging 2.08 g/t Au from 155.5 metres down hole;
- 2.45 m averaging 15.22 g/t Au from 248.65 meters down hole;
  - including 1.45m at 24.16 g/t Au.
23MJ004
- 20.45 m averaging at 5.14 g/t Au from 12.0 metres down hole;
  - including 0.75 m at 23.92 g/t Au;
  - including 3.15 m at 13.69 g/t Au;
  - including 0.9 m at 20.83 g/t Au; and
- 14.8 m averaging 6.00 g/t Au from 54.0 metres down hole;
  - including 3.45 m at 19.43 g/t Au , which includes 1.55 m at 34.72 g/t Au.

Carl Lofberg, FireFox's CEO, commented about the new results, "The drill results from Mustajärvi continue to reveal thicker replacement-style gold mineralization that is very near surface. These four holes have filled in some gaps in the heart of the East Target and confirmed an expansion of the system to the south with a 120m step out hole. These results also confirm the presence of at least two directions of controlling structures - the main lode has been confirmed as plunging to the southwest and deeper high-grade intercepts reinforce the importance of the northeast trending vein system. We have much more data on the way, as results from the final four holes of this drill program are still pending and our team has commenced a trenching program at Mustajärvi East."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Lode Gold: 2024 Year-End Review and 2025 Outlook

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to provide a year-end update.

Dear Investors,

I am excited to update you on our progress since I took over as CEO less than a year ago, just before Christmas in December 2023. With the support of the board, key shareholders, and the dedicated Lode Gold team, we have raised $6M since March 2024 and completed numerous tasks to reorganize the Company. These efforts have positioned us for future success and growth, and I am grateful for the continued support and confidence you have shown in our vision.

Strategy: Create Two Pure Play Companies to Unlock Value and Attract New Investors

Last year, around this time, I met with bankers to discuss how we plan to unlock value by spinning out the Company's assets to create two pure-play companies. This strategy resonated with many as Lode Gold has key assets situated in highly prospective mining regions in Canada and the United States. This initiative immediately creates two $7M companies from one $7M entity, thereby generating accretive value for shareholders.

Focus on Intrinsic Asset Value vs Market Cap: Do some small-cap stocks outperform large-cap investments in the long run?

Clifford Asness, who played a key role in building Goldman Sachs' Global Alpha before founding AQR, and now manages over $33 billion in assets, published a whitepaper that challenged the Efficient Market Theory. It stipulated that value may be factored into price with large-cap companies, but it may not be the case with small-cap stocks¹. It states that with small or micro-cap stocks, the Less-Efficient-Market Hypothesis often holds. Why? The market is inherently inefficient due to a fragmented shareholder base and a lack of distribution, awareness and liquidity. As such, if capital is patient, investing in a small-cap stock may result in a higher return on investment in the long run compared to a large-cap stock.

In the case of Lode Gold, the intrinsic value, verified with a third-party NI 43-101 technical report, has an NPV USD $370M, yet the market cap trades at a fraction of the real value. Notwithstanding, a planned spin-out transaction valued at an additional $7.65M (pre-money value to current Lode Gold shareholders) has already obtained conditional approval.

This is a value proposition, validated by smart money: strategic investors and institutional shareholders; a total of four own approximately 60%. Intrigued by the potential of this undervalued play, I accepted the challenge of leading its turnaround and growth.

Near-Term: Gold Orogen spin out to unlock value for shareholders

The company has three key orogenic assets, with proven gold endowment.

To unlock value for shareholders; immediately we are spinning out the Canadian assets into a new company, Gold Orogen. Each Lode Gold shareholder will get shares of Gold Orogen; via a tax-efficient spin-out.

Additionally, a $3M raise has been completed at Gold Orogen, based on a $7.65M pre-money valuation. The current valuation for Lode Gold, the parent company, is at $7M. We are topping up with an additional $1.5M to ensure a $4.5M investment program for 2025 at Gold Orogen; as such both the assets in Yukon and NB will be drilled in the upcoming exploration season in the new year. Post-money, Gold Orogen will be at $12M+.

A gold asset on the Mother Lode Belt with MRE: 1 (M&I) + 2 (Inferred) Moz Au and a 2023 PEA: USD $370M (NPV 5%) will remain in the parent co, Lode Gold. Lode Gold intends to pursue a high grade underground mine opportunity. This project sits on 100% privately owned patented land where the mining license was suspended in 1942 due to the war effort.

Spin Out Unlocks Shareholder Value: Confirmed gold endowment and RIRGS on Tombstone Belt

The spin-out will result in the formation of two pure-play companies, each focused on specific areas of exploration in Canada and the US.

Company 1: Spin Co - Gold Orogen

Asset 1:

27 km strike, 99.5 km²in Yukon, prolific Tombstone Belt (Snowline, 3 Aces, Sitka Gold)
Total of four Reduced Intrusive Targets (RIRGS)

Asset 2:

New Brunswick: Created one of the largest land packages (420 km²)
Geological analogue to New Found Gold, Galway, Calibre Mining and Puma-Kinross
Confirmed gold endowment

Company 2: Parent - Lode Gold

Lode Gold is the first company to evaluate this project from an underground perspective.

Brownfield, previously mined at 8 g/t in the 1940's.
4 km strike on the 190 km mineralized Mother Lode Belt: 50,000,000 oz produced
100% owned private and patented land: 3,351 acres, Mariposa County
California: 700 permitted mines; 14 gold
Mine suspended in 1942 due to gold prohibition in WWII
Target: 2 Moz underground 5 g/t Au
Typical Orogenic Deposit with Structural Controls
3 Step-Out Holes hit structure (up to 1,200 m)
2 nearby mines were up to 1,800 m deep at 13 g/t
43,000 m drilled with 23 km of underground workings
11% of the veins (2 of 7 deposits) exploited; mostly in the first 250 m
2023 MRE: 1 Moz (M&I) + 2 Moz (Inferred)
2023 PEA at USD $2,000/oz Au: After-tax NPV (5%) USD $370M, 31% IRR, 11 years LOM
Close to road, rail, power, water

Milestones Achieved in 2024:

1. Executed Spin Out Plan

Received conditional acceptance from the TSXV for the spinout transaction

2. Improved Capital Structure

Lode Gold added two additional key institutional and strategic shareholders
For $3M, a 19.9% strategic joint venture partner with strong technical expertise, was added to the new Spin Co
Tight share structure: 10:1 consolidation. About 40.000,000 shares outstanding for both companies

3. Cleaned Up Balance Sheet

Converted a secured debt holder to be the second-largest shareholder
Repaid shareholder working capital loan
Resolved a legacy lawsuit and eliminated a $1.6M liability

4. Enhanced Value of Assets in Yukon, New Brunswick and California

New Brunswick:
- Created one of the largest land packages in the province, potentially a district play
- Completed comprehensive geophysics and soil sampling to define drill targets
Yukon:
- Identified four RIRGS targets for exploration work in 2025
- Confirmed RIRGS at WIN; high bismuth : gold ratio, gold-bearing sheeted quartz veins, hosted in hornfels

California:
- The first to review the project from an underground perspective
- Completed Geological Model: 11% of the veins exploited, in 2 out of 7 deposits. Most extraction in the first 250 m. 3 step-out holes at depth, mineralized and hit structure, a typical orogenic deposit
- Commissioned NI 43-101 to update the 2023 MRE

5. Strengthening the Lode Gold Team

Enhanced bench strength by adding key personnel to the technical and marketing teams, visit our website to view their full bios (lode-gold.com)
Addition of Martin Stratte, Lode Gold's former Director of the Board, to our Advisory Team. He was previously on the permitting team at Castle Mountain, Equinox Gold (2018-2021). The project was acquired for $200 million in 2018, and it was permitted in 2021

Upcoming Catalysts in 2025

Spin Co: Shareholders get shares of a new company
Drilling to investigate 4 RIRGS reduced intrusive targets in Yukon Tombstone Belt, 200 km from Snowline
Drilling in New Brunswick assets upon systematic exploration: geophysics, soil sampling, mapping, geochemistry
California: Revised NI 43-101 Mineral Resource Estimate (updating 2023 MRE and investigating high grade underground potential)
California: Evaluate reactivating a previous mine, where the license was suspended during WWII

Invest in One Company, Get Shares of Two Companies: Optionality on three key assets

Investing in Lode Gold presents an exciting opportunity for shareholders to benefit from an advanced gold exploration project and a forthcoming spinoff with two high-value assets. This strategic move is aimed at unlocking maximum value for investors, who will gain exposure to three highly prospective gold assets through shares in two separate companies.

Wishing you a season filled with joy and prosperity.

Yours truly,

Wendy T. Chan. CEO & Director

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km²across 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. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 420 km² and a 42 km strike. McIntyre Brook covers 111 km²and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. Riley Brook is a 309 km²package covering a 25 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.

In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 8 g/t Au in the 1940's.

Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only 11% of the veins - in 2 out of 7 deposits have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont.

The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment ("PEA"). Project Valuation has an after-tax NPV (5%) of USD $370M at $2000 2 /oz gold, IRR 31% and an 11-year LOM, averaging 118,000 oz per year. At $1,750 /oz gold, NPV (5%) is $217M. 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 of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized.

All NI 43-101 technical reports are available on the Company's profile on SEDAR+ (www.sedarplus.ca) and the Company's website (www.lode-gold.com).

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 NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

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.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-Looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-Looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

RETRANSMISSION: Grande Portage Completes Non-Brokered Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") announces that after consultation with its registered finders, the Company has now concluded its non-brokered private placement under Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption. As previously announced on November 13, 2024, the Company sold 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Company had filed an offering document related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Grande Portage Completes Non-Brokered Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Drill Hole		From (m)	To (m)	Interval (m)	Au Grade (g/t)
23MJ005		53.00	54.30	1.30	1.62
		60.80	65.00	4.20	5.74
	Including	64.10	65.00	0.9	13.80
		68.00	75.05	7.05	4.77
	Including	70.00	71.00	1.00	20.77
23MJ007		52.00	55.70	3.70	3.17
		86.10	86.80	0.70	0.73
23MJ008		29.00	31.00	2.00	4.75
		50.00	50.85	0.85	1.13
		82.50	84.00	1.50	3.20
		112.00	119.00	7.00	1.76
		125.60	126.70	1.10	0.92
		180.00	181.00	1.00	0.61
23MJ009		75.55	81.10	5.55	4.45
		85.00	86.00	1.00	1.17
		88.00	89.00	1.00	0.78
		146.00	147.00	1.00	0.61
		149.00	150.00	1.00	1.29
		156.00	158.00	2.00	1.36

Drill Hole	Easting	Northing	Azimuth (°)	Plunge (°)	Final Depth (m)
23MJ005	429005	7500964	325	60	152.1
23MJ006	428990	7501053	60	50	32.1
23MJ007	428988	7501052	60	50	168.9
23MJ008	428927	7500851	340	60	194.4
23MJ009	428972	7501059	145	45	194

Trench	Type	Interval (m)	From (m)	To (m)	Sample Wt. (kg)	Au (g/t) (uncut)
Trench1	Overburden (no sample)	1.01	0.00	1.01	-	-
	Channel sample	1.01	1.01	2.02	3.2	0.09
	Channel sample	1.04	2.02	3.06	5.62	0.08
	Channel sample	0.87	3.06	3.93	3.63	0.47
	Channel sample	0.92	3.93	4.85	4.36	0.37
	Channel sample	1.28	4.85	6.13	4.11	0.18
	Channel sample	1.15	6.13	7.28	3.17	45.2
	Channel sample	0.77	7.28	8.05	4.58	72.5
	Channel sample	1.02	8.05	9.07	4.5	52.8
	Channel sample	0.99	9.07	10.06	4.09	4.33
	Channel sample	0.77	10.06	10.83	3.79	3.16
	Channel sample	0.84	10.83	11.67	4.6	256
	Channel sample	0.79	11.67	12.46	3.95	10.05
	Channel sample	0.54	12.46	13.00	4.52	27.4
Trench2	Overburden (no sample)	1.02	0.00	1.02	-	-
	Channel sample	1.15	1.02	2.17	2.45	0.11
	Channel sample	0.97	2.17	3.14	3.66
	Channel sample	0.93	3.14	4.07	3.13	0.09
	Channel sample	0.85	4.07	4.92	1.74	0.14
	Channel sample	0.99	4.92	5.91	2.17	0.25
	Channel sample	1.56	5.91	7.47	4.3	2.92
	Channel sample	0.60	7.47	8.07	5.01	0.13
	Channel sample	1.05	8.07	9.12	2.29	0.31
	Channel sample	1.00	9.12	10.12	3.94	0.26
	Channel sample	1.23	10.12	11.36	4.52	0.05
	Channel sample	0.95	11.36	12.31	2.93

Drill Hole		From (m)	To (m)	Interval (m)	Au Grade (g/t)**
23MJ001		5.40	17.35	11.95*	9.69
	Including	5.40	7.00	1.60	15.93
	Including	11.00	17.35	6.35	14.02
	Which includes	15.90	16.65	0.75	94.50
		28.55	29.25	0.70	4.41
		30.80	31.80	1.00	1.05
		37.25	42.60	5.35	8.09
	Including	37.25	38.10	0.85	28.87
	Including	41.70	42.60	0.90	19.97
		50.00	51.00	1.00	3.59
		171.00	171.80	0.80	1.23
23MJ002		33.00	34.00	1.00	1.84
		38.00	41.00	3.00	0.56
		60.00	67.35	7.35	2.40
	Including	61.00	62.00	1.00	10.51
		70.00	71.00	1.00	3.67
		77.00	78.00	1.00	3.59
		96.00	98.00	2.00	0.76
		103.00	112.00	9.00	1.06
	Including	106.80	107.80	1.00	4.33
		114.00	115.00	1.00	0.76
		122.00	123.00	1.00	3.43
		127.00	128.00	1.00	0.59
23MJ003		155.50	165.00	9.50	2.08
	Including	158.50	159.50	1.00	8.63
	Including	164.00	165.00	1.00	6.60
		171.00	171.70	0.70	2.24
		203.60	204.60	1.00	1.27
		208.50	209.50	1.00	2.01
		211.60	212.60	1.00	1.72
		223.90	224.90	1.00	1.34
		248.65	251.10	2.45	15.22
	Including	248.65	250.10	1.45	24.16
		268.60	269.30	0.70	0.92
23MJ004		12.00	32.45	20.45	5.14
	Including	14.50	15.25	0.75	23.92
	Including	21.60	24.75	3.15	13.69
	Also includes	24.05	24.75	0.70	28.00
	Including	27.10	32.45	3.70	6.91
	Also includes	27.10	28.00	0.90	20.83
	Also includes	31.80	32.45	0.65	15.97
		45.60	50.00	4.40	0.79
		54.00	68.80	14.80	6.00
	Including	55.90	59.35	3.45	19.43
		57.80	59.35	1.55	34.72
	Including	65.50	66.20	0.70	12.83
		89.00	93.90	4.90	4.70
	including	91.50	93.90	2.40	8.83
		114.00	115.00	1.00	0.76
		123.20	126.70	3.50	0.98
		152.00	153.00	1.00	1.15
		171.00	171.95	0.95	2.46
		174.60	175.50	0.90	4.25
Drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geologic modelling. * Intercept includes 0.3 m of core loss. The lost interval was assigned a grade of 0.0 g/t Au for all calculations. ** Au grades uncapped.

Drill Hole	Easting	Northing	Azimuth (°)	Plunge (°)	Final Depth (m)
23MJ001	429085.4	7501026	320	60	188
23MJ002	429037.1	7501068	140	50	151.7
23MJ003	429214	7500912	320	60	284
23MJ004	429111	7501055	240	50	175.4

FireFox Gold Provides an Exploration Update on its Sarvi and Mustajärvi Projects, Lapland, Finland

Latest News

Latest Press Releases

Related News

TOP STOCKS