Puma Exploration Hits Multiple High-Grade Gold Intercepts at Williams Brook

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results from its 2022 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. Every hole intersected gold-bearing quartz veins with some returning additional high-grade intersections such as 14.90 gt Au over 3.60 m in hole WB22-96 and 10.96 gt Au over 3.75 m in hole WB22-91 . High-grade intersections are typically included within a wider gold intersection such as 2.17 gt Au over 25.10 m in WB22-96 and 2.00 gt over 21.95 m in WB22-94 (see Figure 1).

FIGURE 1: High-grade gold drilling intersections and surface grab samples at the Lynx Gold Zone ( latest assay results in yellow )

https://www.globenewswire.com/NewsRoom/AttachmentNg/9514a172-2504-4f30-bc24-d1477170ab74

The entire dataset collected from the 10,000 metres program is currently being interpreted and modelized to define the best drilling targets for the upcoming drill program at the Lynx Gold Zone. So far, three (3) areas show high-grade gold mineralization. They are already confirmed as first priority drilling targets to verify the depth extension and the continuity of the mineralization found near the surface (see black circles in Figure 1).

The Lynx Gold zone is open at depth and in all directions. It has only been drilled to a maximum depth of 75 metres vertical. All drilling assays and the gold-bearing structural analysis of the veins and faults will be compiled before resuming drilling to follow up on the highest gold areas confirmed in the 2022 Winter program. An external consultant is currently reviewing all the data, and the Company is awaiting the final report. More information will be provided on drill targets once received.

Multiple quartz veins/veinlets and stockworks were intersected in the drilling, and most were associated with intensive and pervasive limonite alteration. The 3D modelling of the high-potential supergene gold enrichment (limonite alteration) is illustrated in Figure 2. The drilling has confirmed, so far, the supergene gold enrichment over a strike length of 750 metres, 75 metres wide and to a depth of 100 metres and is open in all directions.

FIGURE 2: Lynx Gold Zone supergene gold enrichment 3D model

https://www.globenewswire.com/NewsRoom/AttachmentNg/3f97599e-e4fc-41e8-8b75-00f538430589

Figure 2 also shows the preliminary high-grade gold zones, which show continuity from the surface and are open at depth. These high-grade lineaments are already confirmed as the first priority drilling target for the upcoming drilling program. Table 1 represents selected high-grade gold intersections in the Lynx Gold Zone.

TABLE 1. Highlights of high-grade gold assays in the Lynx Gold Zone

Hole ID	From (m)	To (m)	*Length (m)**	Au (g/t)	Metal Factor
WB21-01	4.00	6.10	2.10	12.71	27
WB21-02	7.20	10.20	3.00	8.33	25
WB21-02	13.70	15.80	2.10	28.52	60
WB21-02	45.60	49,45	3,85	46.94	181
WB21-03	55.90	58.10	2.20	7.81	17
WB21-05	26.00	28.00	2.00	12.64	25
WB21-06	46.80	49.70	2.90	16.92	49
WB21-09	16.30	18.00	1.70	15.52	26
WB21-12	28.60	32.40	3.80	6.93	26
WB21-16	80.00	88.35	8.35	5.11	43
WB21-17	107.00	111.65	4.65	4.85	23
WB22-25	2.00	5.00	3.00	34.93	105
WB22-26	25.50	27.10	1.60	14.06	22
WB22-35	14.90	17.50	2.60	5.83	15
WB22-36	3.80	7.00	3.20	22.28	71
WB22-36	16.40	18.00	1.60	6.70	11
WB22-39	26.50	29.00	2.50	11.71	29
WB22-58	11.70	12.90	1.20	16.85	20
WB22-60	40.00	40.60	0.60	21.00	13
WB22-66	32.00	34.00	2.00	10.70	21
WB22-66	66.50	68.35	1.85	51.73	96
WB22-88	58.00	58.20	0.20	47.20	9
WB22-91	7.00	10.75	3.75	10.96	14
WB22-94	52.80	53.55	0.75	19.10	14
WB22-94	59.20	59.80	0.60	14.19	12
WB22-96	56.90	60.50	3.60	14.90	54
WB22-101	21.45	22.00	0.55	9.09	5

*Stated lengths in metres are downhole core lengths and not true widths. True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system. The metal factor is calculated from the gold grade multiplied by the length in meters.

2021-2022 DRILLING PROGRAM AT LYNX GOLD ZONE

A total of 113 shallow holes were drilled along the Lynx Gold Zone, which is part of the 7 km long O'Neil Gold Trend ("OGT") in 2021 and 2022. The NE-SW oriented Lynx Gold Zone was exposed on the surface by stripping over a strike length of 750 metres, and it is still open at both ends. Systematic, close-spaced drilling was undertaken to identify high-grade gold veins and define their spatial attitude. A few stratigraphic holes (1,300 metres) were also completed to intersect the hanging wall sediments, the rhyolite and the footwall volcano-sediments to better define the geological environment that contains the gold mineralization.

All holes hit the gold-bearing hydrothermal/orogenic system characterized by a supergene alteration (limonite, silica, sulphides) and finely disseminated free gold. The drilling program also confirmed that the gold grade from surface sampling is often coincident with drilling grades.

Marcel Robillard, President and CEO of Puma, commented, "Our 2022 10,000 m drilling program at the Lynx Gold Zone was a great success and fulfilled all of our objectives. It confirmed the presence of a large and fertile hydrothermal/orogenic system at shallow depth and its continuity along strike. The program also allowed us to refine our geological model. Some of the drilling was specifically undertaken to better understand the stratigraphy and gain some insights on the characteristics of gold mineralization at the O'Neil Gold Trend. Over the coming weeks, the interpretation of these drilling results, combined with the ongoing surface exploration work on the property, will orient our next exploration program."

" The high-grade gold intersections in holes WB22-94 and WB22-96 are of particular interest as they confirm the extension of an enriched sector of the Lynx Gold Zone. This central sector has now been recognized over an area covering 10,000 square metres. Drilling confirmed that this fertile area contains multiple high-grade gold veins open at depth along a "Gold Enrichment" controlled by the intersection of a NW striking fault cutting the favourable sediment-rhyolite contact. Two (2) more gold enrichment sectors with a similar attitude have also been identified at the Lynx Gold Zone, " added Marcel Robillard.

TABLE 2. Coordinates of reported drill holes in this release

Hole ID	Easting UTM Nad83	Northing UTM Nad83	Azimuth (N)	Angle (-)	*Length (m)**
WB22-67	660 234	5 259 194	155	65	70
WB22-68	660 294	5 259 423	155	80	126
WB22-69	660 211	5 259 130	170	45	94
WB22-70	660 314	5 259 387	155	45	114
WB22-71	660 211	5 259 131	170	65	107
WB22-72	660 326	5 259 359	155	45	89
WB22-73	660 336	5 259 402	155	45	134
WB22-74	660 210	5 259 129	200	45	117
WB22-75	660 335	5 259 402	155	65	26
WB22-76	660 272	5 259 399	155	65	116
WB22-77	660 257	5 259 435	155	65	108
WB22-78	660 217	5 259 138	80	45	107
WB22-79	660 253	5 259 390	155	65	111
WB22-80	660 237	5 259 383	155	65	150
WB22-81	660 217	5 259 137	110	45	106
WB22-82	660 253	5 259 200	155	65	63
WB22-83	660 308	5 259 428	155	45	119
WB22-84	660 250	5 259 268	155	45	91
WB22-85	660 288	5 259 477	155	45	149
WB22-86	660 284	5 259 326	155	45	81
WB22-87	660 268	5 259 221	155	45	112
WB22-88	660 283	5 259 327	155	65	112
WB22-89	660 268	5 259 222	155	65	123
WB22-90	660 280	5 259 193	155	45	104
WB22-91	660 281	5 259 381	155	45	110
WB22-92	660 219	5 259 180	155	45	99
WB22-93	660 296	5 259 344	155	45	104
WB22-94	660 226	5 259 353	155	65	147
WB22-95	660 296	5 259 344	155	65	65
WB22-96	660 226	5 259 354	155	80	116
WB22-97	660 311	5 259 307	155	45	82
WB22-98	660 226	5 259 352	155	45	103
WB22-99	660 378	5 259 579	155	45	97
WB22-100	660 310	5 259 308	155	65	74
WB22-101	660 378	5 259 580	155	65	56
WB22-102	660 339	5 259 332	155	45	73
WB22-103	660 397	5 259 537	155	45	91
WB22-104	660 339	5 259 332	155	65	74
WB22-105	660 397	5 259 538	155	65	86
WB22-106	660 287	5 259 292	155	45	69
WB22-107	660 413	5 259 589	155	45	109
WB22-108	660 376	5 259 379	200	45	82
WB22-109	660 412	5 259 589	155	65	83
WB22-110	660 351	5 259 486	155	65	54
WB22-111	660 379	5 259 493	155	45	67
WB22-112	660 362	5 259 428	235	45	77
WB22-113	660 449	5 259 635	155	45	103

*Stated lengths in metres are downhole core lengths and not true widths. True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.

TABLE 3. Additional significant assay results in this release

Hole ID	From (m)	To (m)	*Length (m)**	Au (g/t)
WB22-70	4.35	4.70	0.35	0.59
WB22-71	11.80	12.70	0.90	2.57
WB22-72	30.25	30.90	0.65	1.93
WB22-75	4.00	5.80	1.80	0.92
incl.	4.40	4.85	0.45	2.43
WB22-77	47.75	64.00	16.25	0.15
incl.	58.20	64.00	5.80	0.34
incl.	58.20	58.60	0.40	2.69
WB22-79	29.60	32.75	3.15	1.11
incl.	29.60	30.15	0.55	1.77
incl.	32.45	32.75	0.30	5.19
WB22-82	36.40	37.30	0.90	0.32
WB22-83	9.95	10.40	0.45	0.14
and	93.30	93.80	0.50	0.72
and	107.80	111.90	4.10	0.60
incl.	108.80	111.10	2.30	0.91
incl.	110.60	111.10	0.50	1.70
WB22-84	84.80	85.40	0.60	2.18
WB22-85	131.50	132.50	1.00	0.47
WB22-86	17.50	19.00	1.50	2.30
and	31.95	32.20	0.25	0.43
and	47.70	48.70	1.00	0.27
and	59.00	60.00	1.00	0.42
WB22-87	14.50	15.70	1.20	0.72
incl.	14.50	14.80	0.30	2.72
WB22-88	13.60	14.20	0.60	1.26
and	50.70	59.90	9.20	1.20
incl.	57.20	59.90	2.70	4.00
incl.	58.00	58.20	0.20	47.20
WB22-90	5.60	11.70	6.10	1.28
and	5.60	6.75	1.15	4.22
and	10.80	11.70	0.90	3.25
WB22-91	6.55	12.00	5.45	7.60
incl.	7.00	10.75	3.75	10.96
incl.	7.00	8.65	1.65	23.24
and	36.55	37.25	0.70	0.16
WB22-92	15.00	15.50	0.50	0.20
incl.	61.45	62.50	1.05	2.87
incl.	62.05	62.50	0.45	6.15
WB22-93	33.95	50.00	16.05	0.47
incl.	33.95	36.75	2.80	1.25
and	45.70	46.70	1.00	3.06
WB22-94	52.80	81.70	28.90	1.52
incl.	52.80	74.75	21.95	2.00
incl.	52.80	70.30	17.50	2.47
incl.	52.80	53.55	0.75	19.10
and	59.20	59.80	0.60	14.19
and	63.20	64.90	1.70	7.30
and	69.25	70.30	1.05	7.07
and	72.90	73.40	0.50	1.02
WB22-95	27.40	29.00	1.60	1.08
WB22-96	56.90	82.00	25.10	2.17
incl.	56.90	66.00	9.10	5.94
incl.	56.90	60.50	3.60	14.90
WB22-97	16.70	17.70	1.00	2.39
WB22-98	46.90	47.10	0.20	1.53
WB22-99	19.00	19.20	0.20	0.46
WB22-101	21.45	22.00	0.55	9.09
WB22-103	11.45	12.20	0.75	1.77
WB22-106	5.00	6.00	1.00	2.82
WB22-107	21.15	21.90	0.75	0.40
and	42.55	42.85	0.30	0.85
WB22-109	70.50	71.55	1.05	3.71
WB22-110	6.40	17.20	10.80	0.53
and	14.60	17.20	2.60	1.13
WB22-113	3.70	4.00	0.30	2.41

*Stated lengths in metres are downhole core lengths and not true widths. True widths will be calculated once more drilling confirms the geometry of the quartz-sulphide system.

ABOUT THE WILLIAMS BROOK GOLD PROJECT AND THE LYNX GOLD ZONE

The Williams Brook Gold Project is comprised of 4 claim blocks covering more than 40,000 ha in an established and mining-friendly jurisdiction, near paved roads and with excellent infrastructure in place (Figure 3).

FIGURE 3: The Williams Brook Gold Project main zones

https://www.globenewswire.com/NewsRoom/AttachmentNg/668f2d72-5021-415f-893a-6498944e43e2

The Lynx Gold Zone is interpreted to be a mineralized felsic dome within a large epithermal/orogenic gold system part of the Appalachian Orogeny. The high-grade gold mineralization is characterized by finely disseminated gold in quartz (veins, veinlets, stockworks, breccias) affected by pervasive supergene alteration. The stratigraphy of the dome is well defined and typical: fine laminated turbidite-type sedimentary unit, rhyolite breccia with sedimentary fragments, massive rhyolite unit and sedimentary and volcano-clastic units. The contact between the sediment and the rhyolite allowed for the movement of gold-bearing fluids and is characterized by highly silicified iron oxide carbonates and intense sericite alteration. The Lynx Gold Zone was discovered in 2020 by high-grade surface samples and later recognized at depth in 2021 by hole WB21-02 that intersected 5.55 g/t Au over 50.15 m from surface, including two high-grade gold veins with 9.88 g/t Au over 8.60 m and 46.94 g/t Au over 3.85 m .

QUALIFIED PERSON
Dominique Gagné, PGeo, a qualified person as defined by Canadian National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release.

ON-SITE QUALITY ASSURANCE/QUALITY CONTROL ("QA/QC") MEASURES
Drill core samples are bagged, sealed and sent to the facility of ALS CHEMEX in Moncton, New Brunswick, where each sample is crushed and pulped before being fire assayed (Au-ICP21). The remaining coarse reject portions of the samples remain in storage for further work or verification as needed. As part of its QA/QC program, the Company inserts external gold standards (low to high grade) and blanks every 20 samples in addition to standards, blanks, and duplicates.

All samples over 10 g/t gold or with abundant visible gold are analyzed with a gravity finish (Au-GRA22). Check assays are routinely performed for samples with visible gold to ascertain the gold content of the mineralization zone.

ABOUT Puma Exploration

Puma Exploration is a Canadian-based mineral exploration company with precious metals projects located near the Famous Bathurst Mining Camp (BMC) in New Brunswick, Canada. The Company is committed to its DEAR strategy (Development, Exploration, Acquisition and Royalties) to generate maximum value for shareholders with low share dilution.

Connect with us on Facebook / Twitter / LinkedIn
Visit www.explorationpuma.com for more information or contact:

Marcel Robillard ,
President, (418) 750-8510;
president@explorationpuma.com

Mia Boiridy ,
Head of Investor Relations and Corporate Development, (250) 575-3305; mboiridy@explorationpuma.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Puma to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, except as required by law. Puma undertakes no obligation to publicly update or revise any forward-looking statements. These risks and uncertainties are described in the quarterly and annual reports and in the documents submitted to the securities administration.

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Puma Increases the High-Grade Gold Footprint of the Lynx Gold Zone and Extends it at Depth

Hole WB23-139 intersected 63.05 m at 2.49 g/t gold, including two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m .
2.06 g/t gold over 5.20 m was intercepted at 215 m downhole (WB23-139)- the deepest occurrence of gold to date.
Lower-grade gold envelopes of 0.49 g/t to 0.67 g/t gold over 22.80 to 30.95 m surround the higher-grade gold shoots.
The Moose area shows consistent gold mineralization at surface with hole WB23-136 grading 30.90 m of 1.10 g/t gold .
Drill core samples with visible gold ("VG") returned 137.0 g/t gold over 0.60 m (WB23-139), 96.0 g/t gold over 0.45 m (WB23-139), 63.6 g/t gold over 0.30 m (WB23-136), 16.85 g/t gold over 0.79 m (WB23-137).

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results of another seven (7) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project with high grades intercepts and long gold mineralized sections.

Hole WB23-139 intersected two (2) high-grade gold intervals of 37.40 g/t gold over 2.50 m and 21.66 g/t gold over 2.55 m (Figure 1) within a 63.05 m intercept grading 2.49 g/t gold from 89.95 to 153.00 m. The same hole intersected another gold intersection of 2.06 g/t gold over 5.20 m at 215 m downhole depth. With these new gold intersections, the Lynx Gold Zone ("LGZ") has been extended to approximately 150 m vertical depth (Figure 2), further highlighting the potential for significant depth extension.

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Puma Exploration Drills Series of Stacked High-Grade Gold Quartz Veins at Williams Brook

Hole WB23-125 returned 50.85 m of 1.05 g/t gold.
Gold mineralization extends over 90 m from surface in a series of stacked high-grade quartz veins.
All 11 holes intersected the targeted quartz veins, with assay results returning from anomalous gold (0.10 g/t) to 42.60 g/t.
Gold was intercepted at depth in areas never drilled before.
Results confirm the continuity of gold mineralization at the Lynx Gold Zone.
Assay results for 13 additional holes (2,200 m), including 47 samples containing VG are still pending

Puma Exploration Inc. (TSX-V: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the results for the first eleven (11) holes of its 2023 drilling program at its 100%-owned Williams Brook Gold Project in Northern New Brunswick. These holes were first reported on August 2, 2023, and are not part of the series that returned more than 100 specks of visible gold ("VG") on initial inspection. Notwithstanding, seven (7) of the 11 holes reported today returned significant gold, with four (4) holes intersecting multiple mineralized high-grade gold quartz veins (Table 1). Hole WB23-125 intersected fifteen (15) separate quartz veins and returned 90 m of 0.70 gt gold from surface (at 2.90 m) with an impressive 50.85 m of 1.05 gt gold starting at 42 m depth, including a 4.50 m interval of 6.46 gt gold at 75 m depth.

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Puma Exploration Welcomes Jean-David Moore to its Advisory Board

Puma Exploration Inc. (TSXV: PUMA, OTCQB: PUMXF) (the "Company" or "Puma") is pleased to announce the appointment of Mr. Jean-David Moore to the Company's Advisory Board. Mr. Moore has been a consultant and advisor to several mineral exploration and development companies for over fifteen years.

" Jean-David will be a valuable asset to Puma's Advisory Board, bringing his extensive industry experience and knowledge. He has developed a strong relationship network with his significant holdings in several mineral exploration companies. As a major shareholder of Puma, he will be a trusted ally and champion as we continue to develop our Williams Brook Gold Project. This appointment reflects Puma's continued commitment to building a team focused on creating value for shareholders ", stated Marcel Robillard, President and CEO of Puma.

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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.

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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

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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

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DDH #	From (m)	To (m)	*Length (m)**	Au (g/t)
WB23-133	30.95	61.80	30.85	0.59
	32.10	50.70	18.60	0.74
	32.10	38.00	5.90	1.36
	INDIVIDUAL SAMPLES IN WB23-133
	32.10	32.65	0.55	10.65
	37.40	38.00	0.60	3.24
	49.00	49.35	0.35	4.33
	50.20	50.70	0.50	8.25
	60.15	60.90	0.75	5.18
WB23-136	8.30	39.20	30.90	1.10
Incl.	8.30	11.40	3.10	3.93
and	37.15	41.00	3.85	5.55
Incl.	37.15	39.20	2.05	10.38
and	37.55	37.85	0.30	63.40
WB23-137	2.71	33.66	30.95	0.67
Incl.	2.71	5.50	2.79	5.00
Incl.	2.71	3.50	0.79	16.85
and	33.30	38.90	5.60	0.96
Incl.	33.30	33.66	0.36	14.25
WB23-138	32.10	35.80	3.70	1.63
and	124.20	147.00	22.80	0.49
	INDIVIDUAL SAMPLESS IN WB23-138
	107.08	107.65	0.57	1.28
	124.20	124.70	0.50	2.63
	133.65	136.80	3.15	1.02
	139.30	141.95	2.65	1.53
	144.70	145.50	0.80	1.20
	146.00	147.00	1.00	1.05
	175.75	176.10	0.35	7.42
WB23-139	6.50	157.00	150.50	1.10
incl.	7.35	10.35	3.00	2.01
and	89.95	153.00	63.05	2.49
incl.	89.95	92.50	2.55	21.66
and	134.60	153.00	18.40	5.51
incl.	149.50	153.00	3.50	27.33
and	210.40	215.60	5.20	2.06

DDH #	Station	Easting (m)*	Northing (m)*	Elevation (m)	Azimuth (°)	Dip (°)	Length (m)
WB23-133	L310E	660336	5259560	387	202	-45	107.30
WB23-134	L290E	660312	5259564	388	155	-65	122.00
WB23-135	L290E	660335	5259521	387	335	-55	100.00
WB23-136	L300E	660350	5259505	386	295	-55	92.00
WB23-137	L320E	660371	5259519	386	295	-50	87.00
WB23-138	L310E	660362	5259507	385	260	-45	257.00
WB23-139	L290E	660361	5259481	386	260	-45	230.00
* Projection: UTM Nad83 zone 19						Total:	995.30

Area/Target	Sample	UTM Nad83_X	UTM Nad83_Y	Lithology	Au (g/t)
Bonanza	J026525	630753	5265348	Quartz vein	362.00
Bonanza	J026503	630754	5265343	Quartz vein	267.00
Dome	J026519	630708	5265231	Quartz vein	2.72
Dome	J026523	630708	5265231	Quartz vein	4.76
Dome	J026526	630708	5265231	Quartz vein	24.70
Dome	J026801	630708	5265231	Quartz vein	9.47
Dome	J026803	630708	5265231	Quartz vein	1.19
Dome	J026805	630708	5265231	Quartz vein	1.57
Dome	J026806	630708	5265231	Quartz vein	2.33
Dome	J026809	630708	5265231	Quartz vein	0.17
T23-07	J026501	630682	5265099	Quartz vein	0.31
T23-07	J026502	630682	5267097	Quartz vein	0.69
T23-08	J026505	630707	5265195	Siltstone/fault	0.50
T23-09	J026506	630689	5265123	Quartz vein	0.16
T23-09	J026510	630691	5265122	Quartz vein	0.35
T23-11	J026511	630674	5265072	Quartz vein	0.64
T23-11	J026513	630676	5265071	Sandstone	0.22
T23-11	J026514	630694	5265066	Quartz vein	1.10
T23-12	J026518	630668	5265050	Shale/fault	0.90

DDH #	From (m)	To (m)	Length (m)	Au (g/t)
WB23-123	7.60	8.00	0.40	1.03
WB23-125	2.90	93.55	90.65	0.70
Incl.	42.05	92.90	50.85	1.05
Incl.	66.25	92.90	26.65	1.70
Incl.	75.40	92.90	17.50	2.32
Incl.	78.65	92.90	14.25	2.67
and	75.40	79.90	4.50	6.46
Individual samples
	2.90	3.95	1.05	4.60
	11.00	11.30	0.30	9.87
	37.30	37.60	0.30	4.30
	42.05	42.40	0.35	2.85
	55.50	55.90	0.40	16.60
	66.25	66.60	0.35	13.30
	75.40	75.80	0.40	4.45
	76.05	76.25	0.20	1.71
	78.65	79.50	0.85	11.20
	79.50	79.90	0.40	42.60
	87.15	87.45	0.30	3.67
	88.00	88.40	0.40	11.05
	90.45	90.80	0.35	2.44
	91.75	92.35	0.60	5.32
	92.35	92.90	0.55	1.46
WB23-127	85.90	86.40	0.50	1.50
WB23-128	95.15	95.65	0.50	16.10
WB23-129	42.90	53.00	10.10	3.30
Incl.	45.25	48.45	3.20	10.36
Incl.	48.07	48.42	0.35	29.20
WB23-131	46.25	65.60	19.35	0.54
Incl.	47.00	48.05	1.05	1.06
and	53.80	59.75	5.95	1.39
Incl.	57.60	58.10	0.50	12.35
WB23-132	85.50	89.65	4.15	3.18
Incl.	86.15	89.07	2.92	4.43
Incl.	86.15	86.70	0.55	15.70
and	87.64	88.56	0.92	4.04

DDH #	Easting (m)*	Northing (m)*	Elevation (m)	Azimuth (°)	Dip (°)	Length (m)
WB23-122	660246	5259235	386	335	-45	107.0
WB23-123	660256	5259214	386	335	-65	83.0
WB23-124	660213	5259379	392	155	-80	122.0
WB23-125	660263	5259293	386	330	-45	170.0
WB23-126	660242	5259412	389	155	-65	80.0
WB23-127	660237	5259421	389	155	-75	134.0
WB23-128	660236	5259382	389	155	-85	116.0
WB23-129	660263	5259417	389	155	-65	65.0
WB23-130	660207	5259347	388	155	-80	113.2
WB23-131	660227	5259340	389	165	-65	89.0
WB23-132	660303	5259443	388	230	-45	196.0

Sample #	Property	Work Type	East X	North Y	Rock Name	Au grade (g/t)
G237029	WB	Trench	660343	5259477	Quartz vein	288.00
G237027	WB	Trench	660341	5259474	Quartz vein	35.20
G239616	WB	Trench	660424	5259545	Quartz vein	26.00
G236936	WB	Trench	660238	5259246	Quartz vein	13.20
G236937	WB	Trench	660237	5259247	Quartz vein	12.45
G238377	WB	Trench	660872	5259928	Quartz vein	4.58
G236939	WB	Trench	660235	5259245	Quartz vein	3.98
G236941	WB	Trench	660239	5259246	Quartz vein	3.58
G236962	WB	Trench	660426	5259553	Quartz vein	3.46
G239606	WB	Trench	660426	5259549	Quartz vein	3.13
G237030	WB	Trench	660343	5259478	Quartz vein	2.78
G239605	WB	Trench	660426	5259551	Quartz vein	2.64
G236990	WB	Trench	660393	5259406	Quartz vein	2.53
G239629	WB	Trench	660388	5259401	Quartz vein	1.94
G236959	WB	Trench	660428	5259552	Quartz vein	1.72
G239787	WB	Trench	660465	5259531	Quartz vein	1.72
G236909	WB	Trench	660252	5259166	Quartz vein	1.59
G239609	WB	Trench	660425	5259548	Quartz vein	1.49
G236935	WB	Trench	660237	5259251	Rhyolite	1.37
G236931	WB	Trench	660243	5259248	Rhyolite	1.15
G236940	WB	Trench	660239	5259245	Quartz vein	1.08

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