Lode Gold Resources Inc. has received official approval for an Administrative Use Permit from Mariposa County, authorizing surface mineral exploration and comprehensive drilling across the company's 100% privately owned patented land at the Fremont Gold Mine in California.

Valid for a period of three years, the permit enables Lode Gold to initiate a planned 3,500 to 4,500-metre drilling program for the second half of 2026. Gold is priced at US$4,343.50 per ounce, reflecting a 5.44% increase over the 30-day period ending August 10, 2026.

The upcoming campaign is designed to collect essential geological, geotechnical, and hydrologic data to support a Prefeasibility Study scheduled for completion in 2027. Technical work will include dedicated metallurgical core drilling to update and refine historical processing parameters, building upon 2014 baseline technical studies that demonstrated gold recoveries of 91%.

To optimize underground mine design and dimensioning for the upcoming Prefeasibility Study, the company will conduct comprehensive rock mechanics studies using large-diameter core. Strategic infill drilling will also be executed within the defined Indicated Resource areas of the Pine Tree - Josephine zones to support the future conversion of current Indicated Resources to Mineral Reserves.

Concurrently, vertical hydrogeological drillholes will intersect the main mineralized body to conduct systematic permeability testing and rock mass characterization, serving a dual function as hydrogeological test wells and exploratory holes.

"Securing the 3-year AUP provides the regulatory framework required to systematically advance Fremont. This upcoming drilling campaign is focused on the core mineralized zones that will form the basis of our 2027 Pre-feasibility Study. By evaluating grade continuity along strike, testing extensions at depth, and advancing our regional exploration targets, we aim to deliver the technical data necessary to define the project's development path."

— Wendy T. Chan, CEO and Director of Lode Gold

Read the full announcement: Lode Gold Receives Three-year Drill Permit at Flagship Fremont Gold Mine, California