LODE RESOURCES LTD — Interim / Quarterly Report 2021

Oct 26, 2021

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27 October 2021

Quarterly Activities Report For The Quarter Ended 30 September 2021

The Directors of Lode Resources Ltd (ASX: LDR or ‘Lode’ or ‘the Company’) are pleased to provide the following activities report for the quarter ended 30 September 2021.

Corporate Highlights

• Completion of an A$5.1M Initial Public Offering (‘IPO’) and successful listing on the Australian Stock Exchange (‘ASX’)[1]

Uralla Gold Project Highlights

• Discovery of a new style of gold mineralisation with strong implications for bulk tonnage potential at the Hudson's Gold Prospect, one of several prospects at Lode's Uralla Gold Project[2,3,4]

• Completion of high-density augur survey and drone-mag survey further enhancing drill targets the Hudson's Gold Prospect[6]

• Drilling to commence shortly

Webbs Consol Silver Project Highlights

• Maiden drill programme commenced testing high grade silver mineralisation sampled at surface and extensions of mineralisation mapped in underground workings[5]

• Sulphides zones intersected in first 6 drills holes at Webbs Consol Silver Project[7]

• Significant zinc, lead and copper mineralisation observed in drill core with associated silver mineralisation also expected in assays[7]

• Best intercept to date is 27.5 metres containing an estimated 15% sphalerite, 1% galena and 0.5% chalcopyrite in drill hole WCS006[7]

1Refer LDR announcement 30 June 2021 titled “ASX Market Release - Admission and Quotation”

2Refer LDR announcement 12 July 2021 titled “New gold mineralisation style discovered”

3Refer LDR announcement 20 July 2021 titled “Further Assays Enhance & Expand Uralla Gold Project”

4Refer LDR announcement 29 July 2021 titled “Lode Ramps Up Exploration at Uralla Gold Project”

5Refer LDR announcement 15 September 2021 titled “Drilling Commences at Webbs Consol Silver Project”

6Refer LDR announcement 5 October 2021 titled “Enhanced Drill Targets at Uralla Gold Project” – subsequent to Sept Qtr

7Refer LDR announcement 19 October 2021 titled “Significant sulphides intersected at Webbs Consol” – subsequent to Sept Qtr

Lode Resources Ltd ACN 637 512 415

Level 30, 264 George St Sydney NSW 2000 I www.loderesources.com

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Uralla Gold Project – Mapping and Sampling[2,3,4]

During the September quarter LDR announced the discovery a new style of gold mineralisation at its Hudson's Gold Prospect, one of several prospects at Lode's Uralla Gold Project located in the New England Fold Belt of NSW and the priority target in the upcoming drill program.

Rock chip description logging, sampling and mapping has revealed geographically extensive occurrences of disseminated high-grade gold in relatively unweathered outcrop as wells as widespread and pervasive alteration. To date 56 sample gold assays grading > 1 g/t have averaged 3.29 g/t (up to 8.03 g/t) as shown in Table 1.

Tables 1: The Hudson’s Gold Prospect – Rock chip sampling gold grades highlighted in yellow Only grades >1 g/t are tabulated

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Primary Primary
Sample ID Easting Northing Au g/t Sample ID Easting Northing Au g/t
Lithology Lithology
R28 347587 6611097 Siltstone 8.03 R70 347684 6611109 Siltstone 2.90
S29(6) 347775 6611462 Vein 7.58 R35 347925 6611725 Siltstone 2.84
R148 347576 6611463 Siltstone 7.46 R36 347777 6611452 Siltstone 2.73
R72 347758 6611131 Siltstone 7.09 R65 347789 6611456 Siltstone 2.69
R52 347685 6611110 Siltstone 6.38 R73 347610 6611111 Siltstone 2.47
R40 347771 6611465 Siltstone 6.31 R155 347757 6611421 Siltstone 2.45
R96 347567 6611100 Siltstone 5.67 R156 347756 6611421 Siltstone 2.17
R71 347689 6611110 Siltstone 5.53 R110 347707 6611391 Siltstone 2.10
R4 347587 6611098 Siltstone 5.29 R102 347522 6611331 Siltstone 2.09
R39 347773 6611459 Siltstone 5.06 R37 347777 6611455 Siltstone 2.03
S26A 347927 6611728 Vein 4.74 R91 347815 6611470 Siltstone 1.96
R121 347384 6611436 Siltstone 4.72 R106 347547 6611344 Siltstone 1.86
R153 347759 6611421 Siltstone 4.64 R147 347576 6611464 Siltstone 1.76
R98 347566 6611103 Siltstone 4.59 R141 347674 6611104 Siltstone 1.69
R124 347675 6611376 Siltstone 4.54 R140 347674 6611105 Siltstone 1.61
R55 347771 6611416 Siltstone 4.29 R123 347595 6611346 Siltstone 1.56
R54 347656 6611108 Siltstone 4.12 R139 347674 6611106 Siltstone 1.55
R77 347716 6611129 Siltstone 3.85 R138 347674 6611107 Siltstone 1.48
H16 347935 6611752 Vein 3.78 R109 347618 6611480 Siltstone 1.36
R154 347758 6611421 Siltstone 3.77 R57 347810 6611441 Siltstone 1.34
R152 347777 6611454 Siltstone 3.76 R105 347570 6611344 Siltstone 1.33
R87 347746 6611594 Siltstone 3.54 R97 347558 6611103 Siltstone 1.29
R80 347723 6611130 Siltstone 3.51 R107 347388 6611435 Siltstone 1.22
S26B 347927 6611728 Vein 3.30 S26C 347927 6611728 Vein 1.16
R69 347771 6611407 Siltstone 3.22 S344 347921 6611712 Vein 1.14
R99 347469 6611175 Siltstone 3.20 S345 347923 6611719 Vein 1.11
R111 347697 6611384 Siltstone 3.10 R151 347778 6611454 Siltstone 1.08
S26D 347927 6611728 Vein 2.92 R149 347576 6611462 Siltstone 1.00
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Chip sampling of surface outcrop is a spot sample technique and the assay grade is not regarded as being representative of the grade of the mineralised occurrence in general nor an indication of the width of the mineralised occurrence. Surface outcrop is estimated to be <10% at the Hudson’s Gold Prospect.

This has positive implications for the bulk tonnage potential as gold mineralisation does not appear to be restricted to singular thin quartz lode veins as investigated by previous explorers, but rather it permeates throughout the host rock over potentially larger areas. These samples were received from an area of interest approximately 1,000m long and up to 500m wide as shown in Figure 1.

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Figure 1: The Hudson’s Gold Prospect – Rock chip sampling gold grades highlighted in yellow Only grades >1 g/t are tabulated

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Early Drill Target - 1 Early Drill Target - 2
Early Drill Target - Other - gold in outcrop - gold in outcrop
- gold in outcrop Sample ID Au g/t Sample ID Au g/t
Sample ID Au g/t S26A 4.74 S29(6) 7.58
R148 7.46 H6 3.78 R40 6.31
R121 4.72 S26D 2.92 R39 5.06
R87 3.54 S26B 3.30 R153 4.64
R99 3.20 R35 2.84 R124 4.54
R102 2.09 S26C 1.16 R55 4.29
R106 1.86 S344 1.14 R154 3.77
R147 1.76 S345 1.11 R152 3.76
R123 1.56 R69 3.22
R109 1.36 R111 3.10
R105 1.33 R36 2.73
R107 1.22 R65 2.69
R149 1.00 R155 2.45
R156 2.17
R110 2.10
R37 2.03
R91 1.96
R57 1.34
R151 1.08
Strong chargeability response
coincides with easterly
extrapolation of Drill Target 3
mineralisation.
Early Drill Target - 3
- gold in outcrop
Sample ID Au g/t
R28 8.03
R7 7.09
R52 6.38
R96 5.67
R71 5.53
R4 5.29
R98 4.59
R54 4.12
R77 3.85
R80 3.51
R70 2.90
R73 2.47
R141 1.69
R140 1.61
R139 1.55
R138 1.48
R97 1.29
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It is important to note that these significant gold assays were taken from outcrop that appears to be spatially related to the “Bonanza Dyke” over a strike length of 1,000 metres. Aeromagnetics reveal that this well-known regional structure extends for several kilometres with a northeast-southwest orientation.

Visual observations and petrological study of thin sections has confirmed that this mineralisation can be classified as disseminated. Mineralisation is hosted within moderate-to highly altered (silica/sericite/potassic), predominantly siltstone, sedimentary rock (Sandon Beds) with a moderate amount of quartz stockwork veining and disseminated sulphides .

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Uralla Gold Project – High-Density Augur Survey[6]

Subsequent to the September quarter LDR reported that initial high-density augur survey has been successful in expanding Drill Target 2 at the Hudson’s Gold Prospect within the Uralla Gold Project. Soils up to 1.30 g/t Au show a strong anomalous trend to the northeast and remains open in that direction. This is an exciting result as approximately 30% of total augur survey area was found to contain anomalous gold in soils. See Figure 2.

Figure 2: Hudson’s Gold Prospect Drill Target 2 - rock chip and augur assays

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Early Drill Target - 2
- gold in outcrop
Sample ID Au g/t
S29(6) 7.58
R40 6.31
R39 5.06
R153 4.64
R124 4.54
R55 4.29
R154 3.77
R152 3.76
R69 3.22
R111 3.10
R36 2.73
R65 2.69
R155 2.45
R156 2.17
R110 2.10
R37 2.03 1.15 g/t in soil
R91 1.96
R57 1.34
R151 1.08 1.30 g/t in soil
0.84 g/t in soil
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Deep soil (C horizon) samples were collected at 10m spacing on a 90m x 100m grid covering an area where outcrop, with no clear orientation of mineralising structures, returned multiple high-grade gold values. Of the 110 augur soil samples collected 46 graded >20 ppb Au (42% anomalous), 16 samples graded >100 ppb Au (15% very anomalous) and 5 samples were >300 ppb Au (4% highly anomalous).

It was previously reported that 19 chip samples at Drill Target 2 that graded >1 g/t, averaged 3.41 g/t Au (up to 7.58 g/t Au) 1 and together with the gold in soil anomaly now defines a drill target area of 200m x 60m. The significant area of anomalous gold in soils, as defined in this initial high-density augur survey, may suggest disseminated gold mineralisation is more widespread than previously thought and/or there are multiple mineralised structures with varied orientations hidden below soil cover.

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Post the impending maiden 2,000m RC and 2,000m diamond drill programme, further augur surveying is likely to be used to enhance other targets at the Hudson’s Gold Prospect where mapping and sampling of gold bearing outcrop is limited due to soil cover and to test potentially mineralised splay structures associated with the “Bonanza Dyke” structure as interpreted by magnetics.

Uralla Gold Project – Drone Mag Survey[6]

Subsequent to the September quarter LDR reported that a high-resolution drone borne magnetic (DroneMag) survey was also completed at the Hudson’s Gold Prospect within the Uralla Gold Project. This survey was flown on 10m line spacing and on low altitude flight path (generally 50m) so as to generate high resolution magnetic imagery. See Figure 3.

Figure 3: Hudson’s Gold Prospect Drill – DroneMag (TMI) with structural interpretations

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Interpreted splay structure
Newly interpreted splay structures
– potentially mineralised
Blind Pluton
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The areas covered includes the Hudson’s Gold Prospect (including Drill Targets 1,2 & 3), where multiple chip samples have previously returned high grade gold values, and Martin’s Shaft Prospect where previous drilling returned multiple high-grade gold intercepts. Interpretations of imagery generated by the DroneMag survey is helping to develop a preliminary exploration model for gold mineralisation at the Uralla Gold Project and potentially could assist in enhancing existing targets as wells as delineating new targets. Previously it had become apparent that gold mineralisation sampled in outcrops is spatially related to the “Bonanza Dyke” structure, a prominent regional magnetic feature that strikes southwest-northeast for several kilometres.

Preliminary interpretation suggests that gold mineralisation is related to structures that splay off the “Bonanza Dyke” structure. These structures are subtly defined by moderate magnetic corridors situated between areas of magnetic destruction likely to reflect alteration, all encompassed within a moderately magnetic halo that bounds the highly magnetic “Bonanza Dyke” structure. This preliminary model indicates that other similar potentially gold bearing splay structures may exist below soil cover and provide additional exploration targets for further hand auger testing and eventual drilling.

The Hudson’s Gold Prospect discovery was achieved though methodical field work over an area where limited soil and rock sampling by previous explorers indicated anomalous gold and arsenic values. Several other significant soil anomalies have also been defined at the Uralla Gold Project including McCrossin’s, Fraser’s Find, Bannawerra Discovery and Goldsworth prospects. See Figures 4 & 5.

Each anomaly is defined by either enriched Au in soils, enriched As in soils, or both. In addition, the underlying geology is different for each anomaly indicating that gold mineralisation styles are likely to vary. Arsenic is known to be a path finder metalloid for gold mineralisation however this may vary with mineralisation styles. Lode will carry out additional mapping and sampling with a primary focus on areas adjacent to the “Bonanza Dyke” as gold mineralisation appears to be spatially related to this significant regional feature.

Uralla Gold Project – Imminent Drilling

Lode’s initial drilling strategy for the Uralla Gold Project is to scout test a variety of targets using a RC drill rig and then to follow-up on the best targets with a campaign of diamond drilling. A minimum 2,000 metre RC drill program is set to commence in November with an all-weather tracked RC drill rig contracted. This rig will test outcropping high-grade gold mineralisation at the Hudson’s Gold Prospect, areas defined by anomalous soils as covered in this announcement, IP anomalies including those associated with known mineralisation and previously defined Au/As geochem anomalies. The RC program will be followed with a further 2,000 metre of diamond drilling using an all-weather tracked diamond drill rig. This rig is currently drilling at Lode’s Webbs Consol Silver Project. The Company plans to have drill samples assayed at ALS Labs in Brisbane which should allow for significantly faster turnaround of assay results versus reliance on labs in Orange, to the south.

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Figure 4: The Uralla Gold Project – Gold soil assays plotted on geology and magnetics (TMI RTP 2VD)

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Goldsworth Prospect “Bonanza” Dyke
Elevated Au in soil samples, up to
2.58ppm [1]
Historical drilling focus on
workings/narrow vein, not gold
anomaly
1,800m strike length
“Bonanza” Dyke
Frazer’s Find
Up to 76.90 g/t Au [1]
and 1,110 g/t Ag [1 ] in
waste dumps
’s Gold Prospect Discoverys Gold Prospect Discovery Very poor recoveries
in previous shallow
Elevated Au (up to 0.15ppm) and As in soil
drilling
Disseminated gold mineralisation discovery by Lode
IP chargeability
56 chip samples avg 3.29 g/t Au [2] , up to 8.03 g/t Au [2]
No soil anomaly detected on
Approx. area 1,000m x 500m
single line detected
sampling
down dip
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Hudson’s Gold Prospect Discoverys Gold Prospect Discovery

Bannawerra Discovery

Discrete soil anomaly with elevated Au, As, Pb & Sb in soils 1.5km long structure Chip samples up to 2.3 g/t Au[1] Shallow drill intercepts include: 13.9m @ 1.45 g/t Au[1] Martin's Shaft 4.9m @ 2.75 g/t Au[1] Broad intercepts with high grade core McCrossin’s Prospect 14.0m @ 4.83 g/t Au[1] 11.0m @ 5.38 g/t Au[1] Elevated As, Ba, Pb values 18.5m @ 2.41 g/t Au[1 ] Significant radiometrics 8.0m @ 5.40 g/t Au[1 ] Untested by drilling Strong IP chargeability anomaly Remains open down dip and west IP chargeability anomaly detected down dip

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Figure 5: The Uralla Gold Project – Arsenic soil assays plotted on geology and magnetics (TMI RTP 2VD)

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Goldsworth Prospect
“Bonanza” Dyke
Elevated Au in soil samples, up to
2.58ppm [1]
Historical drilling focus on
workings/narrow vein, not gold
anomaly
1,800m strike length
“Bonanza” Dyke
Frazer’s Find
Up to 76.90 g/t Au [1]
Hudson’s Gold Prospect Discovery and 1,110 g/t Ag [1 ] in
Elevated Au (up to 0.15ppm) and As in soil waste dumps
Disseminated gold mineralisation discovery by Lode Very poor recoveries
in previous shallow
56 chip samples avg 3.29 g/t Au [2] , up to 8.03 g/t Au [2]
drilling
Approx. area 1,000m x 500m
No soil IP chargeability
sampling anomaly detected on
single line detected
down dip
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Bannawerra Discovery Discrete soil anomaly with elevated Au, As, Pb & Sb in soils 1.5km long structure Chip samples up to 2.3 g/t Au[1] Shallow drill intercepts include: 13.9m @ 1.45 g/t Au[1] Martin's Shaft 4.9m @ 2.75 g/t Au[1] Broad intercepts with high grade core McCrossin’s Prospect 14.0m @ 4.83 g/t Au[1] Elevated As, Ba, Pb values 11.0m @ 5.38 g/t Au[1] Significant radiometrics 18.5m @ 2.41 g/t Au[1 ] Untested by drilling 8.0m @ 5.40 g/t Au[1 ] Strong IP chargeability anomaly Remains open down dip and west IP chargeability anomaly detected down dip

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Webbs Consol Silver Project – Significant Sulphides Intersected[5][,7]

Subsequent to the September quarter LDR reported that 6 drill holes have been completed at the Webbs Consol Silver Project’s maiden drill programme for 813.8 metres. Sulphides zones were intersected in all 6 drill holes.

Mineralisation styles encountered range from coarse sulphide blebs to massive irregular sulphide veins as shown in Photos 1 & 2. All drill hole intercepts have been cut and samples have been dispatched to ALS in Brisbane with assays anticipated in 2-3 weeks.

Photos 1 & 2: Coarse blebs & massive veins of brown-purple coloured sphalerite in core from drill hole WCS006

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4.8 cm
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Drill hole WCS006 has intersected a very encouraging 27.5 metres (104.6 metres to 132.1 metres) containing an estimated 15% sphalerite ((Zn,Fe)S), 1% galena (PbS) and 0.5% chalcopyrite (CuFeS2) down hole. Estimated true width is 14.2 metres. See Photo 4 & Figure 6 shown overleaf.

Significant silver mineralisation is also anticipated to be shown in assays as silver is known to be strongly associated with both sphalerite and galena at the Webbs Consol Silver Project.

The current planned 1,500m of diamond drilling programme is designed to test high grade silver mineralisation sampled at surface and extensions of mineralisation mapped in underground workings at the Webbs Consol Silver Project. See Figure 7.

Photo 3: Drilling at Lode’s Webbs Consol Silver Project

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Photo 4: NQ core showing 27.5 metre mineralised intercept from drill hole WCS006

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27.5 metres intercept (104.6 metres to 132.1 metres) containing an estimated 15% sphalerite ((Zn,Fe)S), 1% galena (PbS) and 0.5% chalcopyrite (CuFeS2). Significant silver mineralisation is also expected to be shown in assays.

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Figure 6: Cross Section of Webbs Consol main shaft with drill hole WCS006 mineralised intercept. Historic reports state that the Webbs Consol mineralised structure strikes 190° and dips 70-75° east

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West East
Stoped
Drill hole
Ore
WSC006
Webbs Consol
60m main shaft
?
27.5 metre intercept (104.6 metres to
? 132.1 metres) containing an estimated
15% sphalerite ((Zn,Fe)S), 1% galena
(PbS) and 0.5% chalcopyrite (CuFeS2).
Significant silver mineralisation is also
expected to be shown in assays.
EOH 188.7m
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Figure 7: Webbs Consol Silver Project – Rock chip/grab sampling silver, lead and zinc grades[1]

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Drill Target - Webbs Consol North Highly anomalous soils
Ag & Pb in grab samples = Potential extension
Sample Ag g/t Pb % Not e
ID
R157 149 1.88 1
R165 126 5.21 1 Webbs Consol North
R163 84 5.63 1
WC11 82 4.47 2
28702 69 2.95 2
R166 65 6.56 1
WC2 54 0.85 2
28707 54 2.80 2
R161 47 0.61 1
28708 39 1.30 2
28703 34 0.35 2 Drill Target - Lucky Lucy
WC10 32 1.84 2 Ag & Pb in grab samples
R164 28 2.55 1 Sample Ag g/t Pb % Not e
R160 25 0.40 1 ID
WC6 23 2.12 2 28715 272 0.09 2
R162 20 1.59 1 R173 130 0.02 1
28709 19 1.27 2 R169 70 0.20 1
R167 16 0.98 1 WC18 60 0.22 2
28717 37 0.85 2
R174 34 0.05 1
R172 33 0.03 1
Lucky Lucy R171 27 0.55 1
28713 21 0.12 2
28714 19 0.04 2
28716 18 0.11 2
Drill Target - Webbs Consol Central
Webbs Consol
Ag, Pb & Zn in grab samples
Main Shaft
Sample Ag g/t Pb % Zn % Not e
ID
R176 2230 7.34 32.5 1
R177 289 18.65 0.9 1
R182 99 6.92 0.1 1
R178 94 3.36 3.6 1
R180 64 0.20 0.0 1
R181 21 2.34 3.8 1
R179 20 0.80 0.5 1
R183 14 0.63 0.3 1
Webbs Consol Central
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Tenements – September Quarter 2021

Project		Tenements	Tenements	Tenements as
	Tenements
		acquired	disposed	at 30	%		Area	Type of
	as at 30					Units
		during the	during the	September	Interest		**(km2) **	Tenements
	June 2021
		quarter	quarter	2021
Uralla	EL8980	-	-	EL8980	100	80	237	Exploration
Webbs Consol	EL8933	-	-	EL8933	100	16	48	Exploration
Fender	EL9003	-	-	EL9003	100	76	223	Exploration
Elsinore	EL9004	-	-	EL9004	100	32	95	Exploration
Tea Tree	EL9084	-	-	EL9084	100	24	71	Exploration
Thor	EL9085	-	-	EL9085	100	78	231	Exploration
Uralla West	EL9087	-	-	EL9087	100	22	65	Exploration
						328	970

Corporate

Following the successful completion of the A$5.1M IPO the Company was admitted to the Official List of ASX Limited (‘ASX’) on Wednesday, 30 June 2021 and commenced trading on Friday, 2 July 2021.

The IPO saw the issue of 25,576,000 new fully paid ordinary shares at A$0.20 giving the Company an implied market capitalisation of A$16M at the IPO Offer Price.

Used of Funds

Total expenditure during the September quarter was A$483,000. Exploration and evaluation expenditure was $180,000. Approximately two thirds of this expenditure was spent on exploration activities at the Uralla Gold Project and the remainder on the Webbs Consol Silver Project.

Activities included mapping, rock and soil sampling, geophysics and pre-drilling preparations and $32,700 on exploration equipment. Administration and corporate costs were $119,000 and staff costs were $90,000 and IPO costs was $61,000.

Used of funds	Prospectus Year 1 Budget	3 Months Actuals to 30 September 2021
Webbs Consol (EL8933)	241,200	40,300
Uralla (EL8980 and EL9087)	332,800	76,200
Fender (EL9003)	229,400	-
Elsinore (EL9004)	26,500	-
Tea Tree (EL6016)	35,300	-
Thor (EL6020)	36,800	-
Miscellaneous	278,000	35,900
Contingency 15%	177,000	-
Equipment	-	32,700
Exploration Management	-	27,900
Total	$ 1,357,000 $ 213,000

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No expenditure was incurred during the quarter on mining production and development activities.

During the September quarter, the aggregate amount of payment to related parties and their associates totalled $90,000 of payments to Directors or Director related entities for Directors’ consulting fees and superannuation.

This announcement has been approved and authorised by Lode Resource Ltd’s Managing Director, Ted Leschke.

Competent Person’s Statement

The information in this Report that relates to Exploration Results is based on information compiled by Mr Mitchell Tarrant, who is a Member of the Australian Institute of Geoscientists. Mr Tarrant, who is the Project Manager for Lode Resources, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Tarrant consents to the inclusion in this Report of the matters based on the information in the form and context in which it appears.

For further information, please contact:

Investor Enquiries

Ted Leschke Managing Director Ted@loderesources.com

About Lode Resources

Lode Resources is an ASX-listed explorer focused on the highly prospective but underexploited New England Fold Belt in north eastern NSW.

The Company has assembled a portfolio of brownfield precious and base metal assets characterised by:

• 100% ownership;

• Significant historical geochemistry and/or geophysics;

• Under drilled and/or open-ended mineralisation; and

• Demonstrated high grade mineralisation and/or potential for large mineral occurrences.

This has resulted in a portfolio of assets with diverse mineralisation styles with 3 drill ready projects:

1. Uralla Gold – Located 8km west of the Uralla township, this goldfield was one of the earlier goldfields discovered in NSW and a significant gold producer in the 1850’s. Despite this long history the mineralisation style has only recently been recognised as being an Intrusive Related Gold System (IRGS) and this has strong implications for this project’s discovery potential. Lode’s holdings cover over 300sq km’s and this project is drill ready.

2. Webbs Consol Silver – Located 16km west-southwest of Emmaville, this historical silver mining centre is known for high grade silver bearing lodes providing attractive targets that are essentially drill ready. Historical records of underground sampling indicated open ended high-grade mineralisation remains open at relative shallow depths and subsequent geophysical anomalies were never followed-up by drilling.

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1. Fender Copper (Trough Gully ) – Located 30km southeast of Tamworth this project has incurred surface exploration carried out by several companies since the 1960s comprising stream/soil, surface mapping, IP and magnetics however no drilling has occurred. Significant copper in drainage anomalies and several know historical workings on VMS style mineralisation provide some very attractive exploration targets. This project is drill ready.

2. Elsinore – Located 30km west of Guyra this project hosts a large regional magnetic and IP anomaly with anomalous base/precious metals in geochemical sampling.

3. Thor – Located 35km northwest of Manila this project hosts a large gold anomaly potentially associated with high level intrusions or major regional fault structures.

4. Tea Tree – Located 24km north of Manila this project comprises an underexplored goldfield.

Lode’s strategy is to:

• Systematically explore and develop the Company’s Tenements in the New England Fold Belt;

• Target large-scale gold, silver and copper mineral systems;

• Use modern exploration methods and best practices in cost effective programs; and

• Advance discoveries to the development stage.

Figure 8: Lode’s Project Locations (yellow polygons)

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Mt Carrington
Twin Hills Gold & Silver
Gold &
Silver
Webbs Consol
Silver Webbs Timbarra
Silver Gold &
Silver
NSW
Elsinore
Thor
Tea Tree Copper
Gold
Gold
Uralla
Gold Hillgrove
Gold &
Rocky Antinomy
River
Okapi Resources
Enmore Gold Discovery
Newmont Fender
Gold Copper
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