LODE RESOURCES LTD — Investor Presentation 2022

Nov 8, 2022

==> picture [219 x 71] intentionally omitted <==

ASX Code: LDR

High-Grade Brownfield Silver, Base Metal & Gold Projects On-Going High Impact Exploration in a Tier 1 Jurisdiction

Noosa Mining Investor Conference Presentation

November 2022

Lode Resources Ltd | November 2022

Disclaimer, Competent Person’s Statement, Silver Equivalents, References

Competent Person’s Statement

The material in this presentation contains certain technical information, including regarding possible or assumed future performance or potential growth of mineral deposits. Such information is not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors, many of which are beyond the control of Lode Resources Limited (‘Lode’). Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

No representation or warranty, expressed or implied, is made or given by or on behalf of Lode, any of Lode’s directors, or any other person as to the accuracy or completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for such information or opinions or for any errors, omissions, misstatements, negligent or otherwise, or for any communication written or otherwise, contained or referred to in this presentation.

Accordingly, neither Lode nor any of the Lode directors, officers, employees, advisers, associated persons or subsidiary undertakings shall be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying upon the statement or as a result of any admission in, or any document supplied with, this presentation or by any future communications in connection with such documents and any such liabilities are expressly disclaimed. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities.

Competent Person’s Statement

The information in this Report that relates to Exploration Results and Conceptual Exploration Targets 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 has a beneficial interest as option holder of Lode Resources Ltd and consents to the inclusion in this Report of the matters based on the information in the form and context in which it appears. Silver Equivalent Grades Used for Webbs Consol Silver Project

Silver is deemed to be the appropriate metal for equivalent calculations at the Webbs Consol Silver Project as silver is the most common metal to all mineralisation zones. Webbs Consol silver equivalent grades are based on assumptions: AgEq(g/t)=Ag(g/t)+61Zn(%)+33Pb(%)+107Cu(%)+88Au(g/t) calculated from 29 August 2022 spot metal prices of US$18.5/oz silver, US$3600/t zinc, US$2000/t lead, US$8100/t copper, US$1740/oz gold and metallurgical recoveries of 97.3% silver, 98.7%, zinc, 94.7% lead, 96.3% copper and 90.8% gold which is the 4th stage rougher cumulative recoveries in test work commissioned by Lode and reported in LDR announcement 14 December 2021 titled “High Metal Recoveries in Preliminary Flotation Test work on Webbs Consol Mineralisation”. Please note all previously reported silver equivalent grades have been updated for 29 August 2022 spot metal prices. It is Lode’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.

Most recent reference documents used in this presentation

LDR announcement 18 January 2022 titled “Webbs Consol new drill targets”

LDR announcement 15 February 2022 titled “High-grade copper and zinc intersected at Trough Gully Mine”

LDR announcement 21 February 2022 titled “Discovery of Gold Mineralisation Over Significant Widths” LDR announcement 24 March 2022 titled “Drilling Recommences at Webbs Consol Silver-Base Metals” LDR announcement 5 April 2022 titled “Significant Sulphide Mineralisation at Mt Galena Prospect” LDR announcement 14 April 2022 titled “Outstanding Metal Recoveries in Trough Gully Testwork” LDR announcement 31 May 2022 titled “High grade silver-lead-zinc drill results” LDR announcement 2 June 2022 titled “Drilling Intersects 26.5m of Lead-Zinc-Silver Mineralisation” LDR announcement 21 June 2022 titled “Over 1,000g/t Silver Eq Intercepted at Tangoa West” LDR announcement 23 June 2022 titled “Another Thick (31.0m) Intercept of Sulphide Mineralisation” LDR announcement 7 July 2022 titled “Further Mineralised Lodes Discovered at Webbs Consol” LDR announcement 18 July 2022 titled “Most Significant Drill Intercepts to Date at the Webbs Consol” LDR announcement 25 July 2022 titled “Mineralisation Extended to 150m Depth at Webbs Consol” LDR announcement 17 August 2022 titled “Completion of Placement”

LDR announcement 18 August 2022 titled “Phase II Drilling to Commence at Webbs Consol” LDR announcement 21 September 2022 titled “Phase II Drilling Commences at Webbs Consol” LDR announcement 4 October 2022 titled “Webbs Consol Silver Project area expanded four-fold” LDR announcement 11 October 2022 titled “Phase II Drilling Intersects 47m of Sulphide Mineralisation” LDR announcement 26 October 2022 titled “Sixth Sulphide Lode Discovered at Silver Project” LDR announcement 8 November 2022 titled “1,899 g/t Silver Eq Intercepted at Copy Cat Lode Discovery“

==> picture [318 x 423] intentionally omitted <==

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

2

– Lode Resources Directors & Management

Andrew Van Heyst (Executive Chairman)

With more than 30 years’ experience in Institutional Equities and Advisory. Has worked at Merrill Lynch in New York as Head of Australian Sales and for ABN AMRO as Head of Australian Sales and Head of Americas Client Account Management for Global Equity product. In 2005 Andrew moved back to Australia joining Shaw and Partners as a Corporate Advisor focussing on Small Cap resources and was recently Executive Director at Bridge Street Capital Partners.

Ted Leschke (Managing Director)

With more than 30 years’ experience in resources industry including MD of ASX listed Equus Mining from start up to project development covering areas such as project identification, acquisition and generation, geological mapping, exploration drilling, local community and government liaison, financial management, strategy, fund raisings, ASX listing and statutory reporting. Previously worked as a resources analyst in stockbroking/funds management as well as a geologist in the mining industry.

Keith Mayes (Non-Exec Director)

With more than 30 years’ experience in the resources sector in exploration, business development, operational and financial roles with major mining companies including North Ltd, Newmont, Rio Tinto and Oxiana in Australia, Europe, Middle East and Africa. Keith is currently GM of RDG subsidiary Australian Garnet and formerly COO at ASX listed KGL Resources that is undertaking exploration and development of the large Jervois copper/silver/gold project in central Australia and COO at Altura Mining Ltd where he discovered the world class Pilgangoora lithium deposit.

Jason Beckton (Non-Exec Director)

With more than 25 years of geological corporate experience in Australia, North and South America and China. Was Project Manager for Bolnisi Gold NL’s Palmarejo silver/gold project in Mexico where he managed a program defining 3.1moz AuEq. Managed the discovery of Exeter Resource Corp’s 30 moz AuEq Caspiche Porphyry prospect in the Maricunga Gold Copper Belt of Chile. Previously MD of ASX listed Chinalco Yunnan Copper Resources exploring the Mt Isa, Lao and Chilean copper districts. Holds BSc (Hons) Melbourne and a Masters of Economic Geology from the University of Tasmania. Currently Managing Director of Prospech Ltd (ASX:PRS) and a Non-Executive Director of White Rock Minerals Ltd (ASX:WRM).

Mitchell Tarrant (Project Manager)

With more than 12 years’ experience in the resources sector working as a geologist in both exploration and mining roles with companies including Red River Resources, Hillgrove Mines and Crocodile Gold. His most recent roll was at the Hillgrove Mine where he was the holder of the statutory Mining Engineering Manager Certificate in recent years. Mitchell also managed Hillgrove’s 51 tenement and conducted all exploration from geological mapping to managing drilling campaigns. Mitchell is a member of the Australasian Institute of Mining and Metallurgy (AusIMM).

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

3

– Lode Resources Introduction & Capital Structure

Overview

• Lode Resources listed 2 July 2021 on ASX (ASX Code: LDR)

• Focus on the highly prospective but very under explored New England Fold Belt

• ✓ 100% ownership of 7 brownfield silver, gold and base metal projects

• ✓ Significant historical geochemistry and/or geophysics

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

• ✓ Underdrilled and/or open ended mineralisation

• ✓ Early drilling has resulted in solid intercepts at 3 projects

• LDR’s Board and Management are very experienced in exploration and equity markets

==> picture [354 x 119] intentionally omitted <==

----- Start of picture text -----

LDR Share Price Chart
----- End of picture text -----

Capital Structure

Capital Structure
• Share Price(recent) • Cash(September Qtr 2022) • Shares on Issue • Market Capitalisation(at $0.11/share) • Options($0.30 strike price expiring July 23) • Options($0.24 strike price expiring August 24)	A$0.11 $2.8m 91.61m $10.1m
	1.50m 8.33m

==> picture [237 x 214] intentionally omitted <==

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

4

– New England Fold Belt Highly Prospective but Very Under Explored

• New England Fold Belt (FB) most significant mining period was from 1850s up to WWI

• Estimated US$7billion output at today’s prices or up to 20% of the entire state’s GDP for that period

• There is just one currently operating metalliferous mine in the New England FB (Hillgrove)

• Mining company expenditure in 2018 was US$0.2b (mainly in coal) or 2.2% of US$10.7b for entire NSW

• Current in situ resource value is estimated to be just 2% of the entire state due a lack of exploration

• New England FB has just 1 exploration hole for every 13 holes drilled in the Lachlan FB

==> picture [250 x 124] intentionally omitted <==

----- Start of picture text -----

Area Metres
(000's Holes Drilled
sqkm) Drilled (000's m)
New
91.1 5,497 493.3
England FB
Lachlan FB 182.1 70,831 2,791.8
----- End of picture text -----

==> picture [508 x 239] intentionally omitted <==

----- Start of picture text -----

New England & Lachlan New England & Lachlan FB
Fold Belts (FB) Gold, Silver & Copper Occurrences
200km
----- End of picture text -----

New England & Lachlan FB Drill Holes

==> picture [238 x 209] intentionally omitted <==

----- Start of picture text -----

Note paucity of drilling
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

5

Lode Resources − Seven Prospective Projects

==> picture [405 x 383] intentionally omitted <==

----- Start of picture text -----

Twin Hills
Gold & Silver Mt Carrington
Gold & Silver
FMG Resources
NSW
New ELA
Timbarra
Gold & Silver
Webbs Consol
Silver Webbs
Silver
Sandon
Base Metals
Elsinore
Thor Tea Tree
Copper
Gold Gold
Uralla
Gold
Hillgrove
Gold & Antinomy
Rocky River
Gold
Okapi Resources
Enmore Gold Discovery
Fender
Newmont
Copper/Zinc
Gold
----- End of picture text -----

Project selection criteria:

• a. 100% ownership

• b. Significant historical geochemistry and/or geophysics

• c. Under drilled and/or open ended mineralisation

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

1. Webbs Consol Silver – High grade Ag, Pb, Zn bearing lodes – Solid early drill results

2. Uralla Gold – Intrusive Related Gold System (IRGS) constituting a significant gold field – Solid early drill results

3. Trough Gully (Fender) Base Metals – High grade Zn, Cu (Au) VMS style copper deposit – Solid early drill results

1. Elsinore – Large regional magnetic and IP anomaly plus base metals anomalies

2. Thor – Large gold anomaly potentially associated with high level intrusions or major regional fault structures

3. Tea Tree – Underexplored goldfield

4. Sandon – Newly added Bundarra Copper Project and Abington Base Metal Project explorations targets

Project	Licence	Commodity	Units	Area (km2)	Status
Webbs Consol	EL8933	Silver/Lead/Zinc	16	48	Granted
Webbs Consol Expanded	ELA6843	Silver/Lead/Zinc	53	155	Ganted
Uralla	EL8980	Gold	80	237	Granted
Uralla West	EL9087	Gold	22	65	Granted
Fender	EL9003	Copper/Zinc	76	223	Granted
Elsinore	EL9004	Copper	32	95	Granted
Tea Tree	EL9084	Gold	24	71	Granted
Thor	EL9085	Gold	78	231	Granted
Sandon	ELA9319	Cu, Pb, Zn, Ag & Sb	273	758	Granted
			654	1,883

==> picture [123 x 40] intentionally omitted <==

6 Lode Resources Ltd | November 2022

Lode Resources − Solid Drill Results

==> picture [405 x 383] intentionally omitted <==

----- Start of picture text -----

Twin Hills
Gold & Silver Mt Carrington
Gold & Silver
FMG Resources
NSW
New ELA
Timbarra
Gold & Silver
Webbs Consol
Silver Webbs
Silver
Sandon
Base Metals
Elsinore
Thor Tea Tree
Copper
Gold Gold
Uralla
Gold
Hillgrove
Gold & Antinomy
Rocky River
Gold
Okapi Resources
Enmore Gold Discovery
Fender
Newmont
Copper/Zinc
Gold
----- End of picture text -----

Since listing Lode Resources has produced solid intercepts in Phase I Drilling at 3 separate projects

Webbs Consol Silver Project

Main Shaft, Mt Galena, Castlereagh, Lucky Lucy North, Tangoa West & Copy Cat- Drill results to date

• 50.0m @ 314 g/t AgEq from 17.0m ( 15,708g/t.m) - WCS023

• 27.5m @ 552 g/t AgEq from 104.6m ( 15,168g/t.m) - WCS006

• 27.3m @ 412 g/t AgEq from 30.1m ( 11,244g/t.m) - WCS019

• 24.2m @ 450 g/t AgEq from 122.9m ( 10,871g/t.m) - WCS007

• 20.5m @ 375 g/t AgEq from 16.0m ( 7,688g/t.m) - WCS034 just reported

• 31.0m @ 241 g/t AgEq from 30.6m ( 7,471g/t.m) - WCS020

• 47.4m @ 153 g/t AgEq from 66.5m ( 7,227g/t.m) - WCS031 just reported

• 43.6m @ 141 g/t AgEq from 138.4m ( 6,337g/t.m) - WCS028

• 12.1m @ 324 g/t AgEq from 48.0m ( 3,916g/t.m) - WCS012

Next Actions:

• Phase II drilling focused on extending several recently discovered lodes as well as testing newly discovered surface mineralisation

• Geophysics - Down Hole Electromagnetic (DHEM), Gravity & Magnetics - underway

Uralla Gold Project

Hudson’s Prospect Discovery - Phase I scout drill results

• 15.0m @ 2.09 g/t Au from 12.0m (incl. 7m @ 3.65 g/t Au, incl. 4m @ 4.18 g/t Au) - KTN010

• 14.0m @ 1.24 g/t Au from 68.0m (incl. 2m @ 2.04 g/t Au and 3m @ 2.21 g/t Au) - KTN007

• 10.0m @ 1.32g /t Au from 9.0m (incl. 5m @ 2.49 g/t Au) - KTN005

• 16.0m @ 0.79 g/t Au from 10.0m - KTN006:

Next Action:

• Phase II drilling to focus on testing down-dip extensions of early drill results & enhanced structural/geochemical targets

Fender Base Metals Project

Trough Gully Mine Prospect - Phase I scout drill results

• 7.30m @ 9.47% ZnEq from 92.1m (4.93% Zn, 1.37% Cu, 0.36 g/t Au & 10.1 g/t Ag)

• 6.90m @ 9.21% ZnEq from 50.9m (4.49% Zn, 1.30% Cu, 0.50g/t Au & 17.4g/t Ag)

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

7

Webbs Consol Silver Project – Silver & Base Metals

• Located 16km WSW of Emmaville, Webbs Consol was discovered in 1890 with intermittent mining up to the mid 1950’s

• Historically only silver & lead recovered with zinc mineralisation discarded

• Epithermal mineralisation occurring in ‘en échelon’ vertical lodes at intersection of main N-S shear and secondary NNE-SSW fractures

• Exceptional results in initial Phase I Drilling: 75% intercept hit rate, 48% strong metal endowment intercept hit rate

• Phase II drilling focusing on extending several recently discovered lodes as well as testing newly discovered surface mineralisation

• 6 mineralised lodes discovered to date

• Mineralisation styles encountered in drilling: semi-massive to disseminated blebs and irregular veins of Ag, Pb & Zn sulphides, and now Cu sulphide in Copy Cat Lode

• Ag/Pb rich zones transition to Ag/Zn rich zones with depth, and potentially Ag/Zn/Cu zones deeper still

• Ag is only metal consistently present at significant grades in all zones – thus appropriate metal for metal equivalent calculations to easily demonstrate overall grades

• Webbs Consol mineral system now extends over a 3.5km north-south strike

==> picture [334 x 452] intentionally omitted <==

----- Start of picture text -----

Webbs Consol
Leucogranite
Emmaville
3.5 kilometres Volcanics
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

8

Webbs Consol Silver Project – Multiple Lodes Discovered

==> picture [553 x 332] intentionally omitted <==

----- Start of picture text -----

From To Interval Ag Eq Ag Pb Zn Cu From To Interval Ag Eq Ag Pb Zn Cu
Hole Hole
(m) (m) (m) (g/t) (g/t) (%) (%) (%) (m) (m) (m) (g/t) (g/t) (%) (%) (%)
WCS001 82.0 88.0 6.0 21 1.9 0.20 0.18 0.01 WCS020 30.6 61.6 31.0 241 55.0 3.37 0.98 0.12
WCS002 114.2 124.2 10.0 28 2.5 0.28 0.25 0.01 incl. 38.7 52.7 14.0 357 84.2 5.58 1.08 0.21
WCS003 9.4 19.5 10.1 65 20.0 0.55 0.38 0.02 incl. 45.2 52.7 7.5 503 136.3 8.73 0.76 0.29
WCS004 24.0 32.1 8.1 141 50.6 0.89 0.91 0.04 WCS023 17.0 67.0 50.0 314 94.4 2.93 1.81 0.08
WCS005 47.3 56.6 9.3 48 10.0 0.25 0.36 0.02 incl. 38.1 53.1 15.0 632 239.9 6.36 2.53 0.20
WCS006 104.6 132.1 27.5 552 118.1 0.77 6.52 0.07 incl. 49.0 53.1 4.1 958 419.6 8.78 3.72 0.13
incl. 105.6 129.4 23.8 620 135.0 0.82 7.32 0.08 WCS024 120.0 125.0 5.0 54 5.7 0.10 0.66 0.03
WCS007 122.9 147.1 24.2 450 63.2 0.49 5.96 0.04 WCS025 23.0 37.0 14.0 58 11.6 0.41 0.51 0.02
incl. 126.0 145.0 19.0 556 78.3 0.49 7.43 0.05 incl. 25.0 35.6 10.6 71 14.6 0.50 0.61 0.02
incl. 129.7 140.0 10.3 813 123.3 0.56 10.82 0.06 WCS026 28.7 63.0 34.3 56 23.1 0.13 0.26 0.06
WCS008 24.0 45.2 21.2 50 16.7 0.09 0.14 0.01 incl. 35.0 45.1 10.1 106 50.7 0.09 0.44 0.17
incl. 35.3 42.0 6.7 87 31.5 0.04 0.01 0.00 and 91.1 101.4 10.3 56 12.9 0.34 0.47 0.02
and 58.2 66.8 8.6 33 8.5 0.12 0.31 0.01 WCS027 110.0 113.8 3.8 77 10.3 0.59 0.75 0.01
and 70.0 77.0 7.0 69 16.9 0.22 0.59 0.04 and 123.8 129.9 6.2 58 4.4 0.57 0.56 0.00
WCS009 70.0 80.0 10.0 88 45.4 0.09 0.17 0.23 WCS028 115.0 118.8 3.8 51 3.6 0.40 0.55 0.00
incl. 70.0 75.3 5.3 148 82.3 0.07 0.16 0.43 and 138.4 182.0 43.6 141 11.6 0.28 1.91 0.02
WCS012 48.0 60.1 12.1 324 108.0 5.49 0.36 0.10 incl. 144.0 162.0 18.0 272 20.3 0.19 3.95 0.02
incl. 52.5 57.6 5.1 570 201.3 10.09 0.19 0.19 incl. 147.0 159.0 12.0 338 24.1 0.16 4.98 0.02
WCS013 55.0 61.8 6.8 30 3.0 0.17 0.34 0.00 incl. 147.0 150.0 3.0 526 32.8 0.30 7.78 0.05
WCS015 93.3 98.0 4.7 87 17.5 0.74 0.70 0.02 WCS029 47.4 77.9 30.5 69 27.3 0.22 0.44 0.03
WCS016 63.7 70.2 6.5 121 6.4 1.13 1.24 0.01 WCS031 66.5 113.9 47.4 152 45.7 0.79 1.22 0.04
WCS019 30.1 57.4 27.3 412 112.9 6.29 1.05 0.24 incl. 78.5 84.0 5.5 479 211.5 1.32 3.53 0.03
incl. 31.6 45.0 13.4 528 147.3 7.86 1.46 0.30 and 102.0 113.0 11.0 330 81.7 2.08 2.65 0.14
incl. 37.0 40.0 3.0 1,046 376.3 17.68 0.28 0.64 WCS034 16.0 36.5 20.5 375 77.1 0.10 2.87 1.10
and 50.0 56.2 6.2 614 171.0 10.04 1.09 0.42 incl. 21.2 30.0 8.8 667 154.4 0.19 5.35 1.65
incl. 53.3 56.2 2.9 1,171 344.1 19.62 1.54 0.82 incl. 21.2 22.7 1.5 1,899 432.5 0.49 19.71 2.25
----- End of picture text -----

==> picture [193 x 89] intentionally omitted <==

==> picture [142 x 89] intentionally omitted <==

==> picture [114 x 89] intentionally omitted <==

==> picture [93 x 33] intentionally omitted <==

----- Start of picture text -----

All drill hole intercept
grades are in silver
equivalent (AgEq [1] )
----- End of picture text -----

WCS008: 21.2m @ 50 g/t WCS009: 10.0m @ 88 g/t WCS026: 34.3m @ 56 g/t WCS029: 30.5m @ 69 g/t WCS006: 27.5m @ 552 g/t WCS007: 24.2m @ 450 g/t WCS028: 43.6m @ 141 g/t incl. 12.0m @ 338 g/t Incl. 3.0 m @ 526 g/t WCS012: 12.1 m @ 324 g/t WCS023: 50.0m @ 314 g/t incl. 15.0m @ 632 g/t incl. 4.1m @ 958 g/t WCS031: 47.4m @ 152 g/t incl. 5.5m @ 479 g/t and 11.0m @ 330 g/t WCS034: 20.5m @ 375 g/t incl. 8.8m @ 667 g/t incl. 1.5m @ 1,899 g/t WCS020: 31.0m @ 241 g/t incl. 14.0m @ 357 g/t Incl. 7.5m @ 503 g/t WCS019: 27.3m @ 412 g/t incl. 13.4m @ 528 g/t incl. 3.0 m @ 1,046 g/t and 6.2m @ 614 g/t incl. 2.9m @ 1,171 g/t

==> picture [123 x 40] intentionally omitted <==

9 Lode Resources Ltd | November 2022

– Webbs Consol Silver Project Main Shaft & Copy Cat Lodes

==> picture [792 x 421] intentionally omitted <==

----- Start of picture text -----

NW Main Shaft Lode SE NW Copy Cat Lode SE
Shaft
27.5m @ 552 g/t AgEq from 104.6m 20.5m @ 375 g/t AgEq from 16.0m incl.
8.8m @ 667 g/t AgEq from 21.2m incl.
1.5 m @ 1,899 g/t AgEq from 21.2m
24.2m @ 450 g/t AgEq from 122.9m
Open
ended
?
43.6m @ 141 g/t AgEq from 138.4m incl.
12.0m @ 338 g/t AgEq from 147.0m incl.
3.0 m @ 526 g/t AgEq from 147.0m
Drill hole
WCS007
Drill hole
WCS006 ? Drill hole
164.7mEOH Open WCS034
ended ?
EOH
188.7m
Drill hole EOH
WCS028 59.6m
? Open
EOH ended
200.0m
30 metres
150 metres
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

10

– Webbs Consol Silver Project Castlereagh & Tangoa West Lodes

==> picture [798 x 421] intentionally omitted <==

----- Start of picture text -----

SW Castlereagh Lode NE SW Tangoa West Lode NE
50.0m @ 314 g/t AgEq from 17.0m incl. 27.3m @ 412 g/t AgEq from 30.1m incl.
15.0m @ 632 g/t AgEq from 31.6m incl. 13.4m @ 528 g/t AgEq from 31.6m incl.
4.1m @ 958 g/t AgEq from 31.6m 3.0 m @ 1,046 g/t AgEqfrom 37.0m and
6.2m @ 614 g/t AgEqfrom 50.0m incl.
2.9m @ 1,171 g/t AgEqfrom 53.3m
Drill hole
WCS023 Drill hole
? WCS019
EOH Open
80.6m ended Drill hole
C17 EOH
47.4m @ 152 g/t AgEq from 66.5m incl. 110.6m
?
5.5m @ 479 g/t AgEq from 78.5m and
?
11.0 m @ 330 g/t AgEq from 102.0m
Drill hole
WCS031
? Drill hole
C18
Open EOH
ended ? 131.7m
?
130 metres
110 metres
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

11 Lode Resources Ltd | November 2022

- Webbs Consol Silver Project The Right Ingredients for a High-Quality Project

✓ High Grade Ag-Pb-Zn Mineralisation

✓ Thick Intercepts

✓ Very High Metallurgical Recoveries

==> picture [236 x 372] intentionally omitted <==

----- Start of picture text -----

Sphalerite Galena
((Zn,Fe)S)
(PbS)
----- End of picture text -----

==> picture [215 x 55] intentionally omitted <==

==> picture [215 x 55] intentionally omitted <==

==> picture [215 x 55] intentionally omitted <==

==> picture [215 x 55] intentionally omitted <==

==> picture [215 x 55] intentionally omitted <==

==> picture [215 x 52] intentionally omitted <==

==> picture [215 x 55] intentionally omitted <==

Drill hole WCS019:

• 27.3m intercept

• • 30.1m to 57.4m

• Grading: 412 g/t AgEq 113 g/t Ag 6.29% Pb 1.05% Zn

• 0.24% Cu

==> picture [274 x 250] intentionally omitted <==

Product	Cumulative Recoveries (%)	Cumulative Recoveries (%)	Cumulative Recoveries (%)	Cumulative Recoveries (%)	Cumulative Recoveries (%)
	Zn	Ag	Pb	Cu	Au
Rghr Con 1 Rghr Con 1-2 Rghr Con 1-3 RghrCon 1-4	80.5 97.0 98.2 98.7	70.9 94.3 96.3 97.3	69.2 92.0 93.8 94.7	58.6 71.9 74.3 76.3	53.1 65.6 88.8 90.8

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

12

Lode Resources − On-Going High Impact Exploration in a Tier 1 Jurisdiction

==> picture [451 x 383] intentionally omitted <==

----- Start of picture text -----

Twin Hills
Gold & Silver Mt Carrington
Gold & Silver
FMG Resources
NSW
New ELA
Timbarra
Gold & Silver
Webbs Consol
Silver Webbs
Silver
Solid early drill results
Sandon
Base Metals
Solid early drill results
Elsinore
Thor Tea Tree
Copper
Gold Gold
plorations targetslorations targetsgetsets Uralla
Gold
Status Hillgrove
Gold & Antinomy
Granted
Rocky River
Ganted Gold
Granted
Okapi Resources
Granted Enmore Gold Discovery
Granted
Fender
Granted Newmont Copper/Zinc
Gold
Granted
Granted
----- End of picture text -----

Project selection criteria:

• a. 100% ownership

• b. Significant historical geochemistry and/or geophysics

• c. Under drilled and/or open ended mineralisation

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

1. Uralla Gold – Intrusive Related Gold System (IRGS) constituting a significant gold field – Solid early drill results

2. Webbs Consol Silver/Base Metals – High grade Ag, Pb, Zn bearing lodes – Solid early drill results

3. Trough Gully (Fender) Base Metals – High grade Zn, Cu (Au) VMS style copper deposit – Solid early drill results

1. Elsinore – Large regional magnetic and IP anomaly plus base metals anomalies

2. Thor – Large gold anomaly potentially associated with high level intrusions or major regional fault structures

3. Tea Tree – Underexplored goldfield

4. Sandon – Newly added Bundarra Copper Project and Abington Base Metal Project explorations targetslorations targetsgetsets

Project	Licence	Commodity	Units	Area (km2)	Status
Webbs Consol	EL8933	Silver/Lead/Zinc	16	48	Granted
Webbs Consol Expanded	ELA6843	Silver/Lead/Zinc	53	155	Ganted
Uralla	EL8980	Gold	80	237	Granted
Uralla West	EL9087	Gold	22	65	Granted
Fender	EL9003	Copper/Zinc	76	223	Granted
Elsinore	EL9004	Copper	32	95	Granted
Tea Tree	EL9084	Gold	24	71	Granted
Thor	EL9085	Gold	78	231	Granted
Sandon	ELA9319	Cu, Pb, Zn, Ag & Sb	273	758	Granted
			654	1,883

==> picture [123 x 40] intentionally omitted <==

13 Lode Resources Ltd | November 2022

==> picture [364 x 447] intentionally omitted <==

==> picture [219 x 71] intentionally omitted <==

ASX Code: LDR

Contact: info@loderesources.com

Lode Resources Ltd | November 2022

(Appendix I) Uralla Gold Project – Dominant position in a significant historic Goldfield

• Located 8km W of the Uralla goldfield was one of the earlier goldfields discovered in NSW and a significant gold producer in the 1850’s. Lodes holdings cover over 300sq km’s

• Uralla Granodiorite and other intrusives, which intrude Yarrowyck Granodiorite and Sandon Beds, are believed to be responsible for gold mineralisation in the Uralla Goldfield

• Characteristics of an Intrusive Related Gold System (IRGS) only been recently recognised. Tintina Gold Province of Alaska and Yukon is the best known example of a IRGS with >50Moz of Au defined over the last 15 years − See https://pubs.usgs.gov/sir/2007/5289/SIR2007-5289-A.pdf

• “Bonanza” Dyke, N-S Structure and Felsic dykes appear to be strong controlling features within the Uralla goldfield

• Zonation of indicator metals Bi, As, Sb, Cu, Zn and Pb is a potential tool for vectoring towards larger targets

• Significant intercepts to date:

• Hudson’s Prospect – Phase I scout drilling

  • ➢ 15.0m @ 2.09 g/t Au (incl. 7m @ 3.65 g/t Au, incl. 4m @ 4.18 g/t Au) – KTN010

  • ➢ 14.0m @ 1.24 g/t Au (incl. 2m @ 2.04 g/t Au and 3m @ 2.21 g/t Au) – KTN007

  • ➢ 10.0m @ 1.32g /t Au (incl. 5m @ 2.49 g/t Au) - KTN005

• Martin’s Shaft

  • ➢ 14.0m @ 4.83 g/t Au (incl. 3.0m @ 6.94 g/t Au) - SGRDD002

  • ➢ 11.0m @ 5.38 g/t Au (incl. 6.0m @ 8.30 g/t Au) - SGRDD004

  • ➢ 18.5m @ 2.41 g/t Au (incl. 4.0m @ 4.81 g/t Au) - SGRDD008

  • ➢ 8.0m @ 5.40 g/t Au - SGRDD014

• Bannawerra Discovery

  • ➢ 13.9m @ 1.45 g/t - ZK0701

➢ 4.9m @ 2.75 g/t - SGRDD036

==> picture [337 x 429] intentionally omitted <==

----- Start of picture text -----

“Bonanza”
Dyke
Main Area of
Interest
Bannawerra
Discovery
Hudson’s Prospect
Martin's Shaft
Major N-S
Structure
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

15

(Appendix I) Hudson’s Prospect

• Disseminated gold mineralisation discovered through methodical field work

• A large mineral system 1,000m x 500m

• Anomalous arsenic in soils linked to gold mineralisation & visual arsenopyrite in outcrop equals gold grade – very useful exploration tool

• Surface chip sample reveals wide spread multiple gold zones despite 80-90% cover

• Broad shallow disseminated gold intercepts in Phase I drilling:

➢ KTN010: 15m @ 2.09g/t Au from 12m

Incl. 7m @ 3.65g/t Au from 15m Incl. 4m @ 4.18g/t Au from 15m

➢ KTN007: 14m @ 1.24g/t Au from 68m

Incl. 2m @ 2.04g/t Au from 9m And 3m @ 2.21g/t Au from 77m

➢ KTN005: 10m @ 1.32g/t Au from 68m

Incl. 5m @ 2.49g/t Au from 9m

• Enhanced structural interpretation indicate dilation zones are conduit for gold bearing solutions.

• Main structure tension zones yet to be test with drilling

• Next steps: Phase II: test down-dip extensions of early drill results & enhanced structural/geochemical targets

==> picture [376 x 476] intentionally omitted <==

----- Start of picture text -----

North Drill Target
West Drill Target
Tension Structure
Redgum Drill Target
Tension Structure
Dyke Drill Target
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

16

(Appendix I) Hudson’s Prospect

==> picture [919 x 469] intentionally omitted <==

----- Start of picture text -----

Redgum Drill Target Dyke Drill Target
KTN005: 10m @ 1.32g/t Au from 9m
KTN010: 15m @ 2.09g/t Au from 12m
Planned drill holes
Hudson’s Prospect
Phase II Drill Targets
KTN006: 16m @ 0.79g/t Au from 10m
• Strong weight of evidence
• Phase II drilling to test multiple KTN007: 14m @ 1.24 g/t Au from 68m KTN012: 6m @ 0.75g/t Au from 39m
vectors (2,000m planned): KTN011: 5m @ 1.04 g/t Au from 16m
KTN003: 5m @ 0.42g/t Au from 5m
1. Solid Phase I scout drill
As Anomalism In
results Deep Augur Holes
2. Gold in surface outcrop Planned drill holes
3. Strong arsenic & gold soil
anomalism
North Drill Target West Drill Target
4. Relationship with mag
anomaly Planned drill holes
KTN001: 7m @ 0.65g/t Au from 5m
5. Dilation structures As Anomalism In
Shallow Augur Holes
• Phase I: Scout drilling completed
• Phase II: Phase II: test down-dip
extensions of early drill results & Deeper Cover Planned drill holes
Deeper Cover
enhanced structural &
geochemical targets
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | July 2022

17

(Appendix I) Fender Copper/Zinc

• Located 30km SE of Tamworth

• 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 values in stream sampling over two large areas (Kasey 7km x 3km, Fold 4km x 2km). Coincides with distinct large magnetic ridges and adjacent to Spring Creek fault

• Magnetic anomalies may represent large fold structures which provides tension regime for fissure infilling of remobilised copper mineralisation

• Late Devonian-Early Carboniferous Myra and Sandon Bed, inter-fingered Permian basalt, jasper and chert

• 21 copper occurrences of VMS origin have been recorded over 30km strike length and are hosted within steeply dipping shear zones that have a close spatial relationship with jasper, chloritised metabasalt and less resistant argillaceous chert

• Mineralisation typically Fe rich, then Cu and Zn as major metals. Cu typically ranges 2% to 4.5%, although exceptionally rich ore from Fisher’s mine averaged 13.4% Cu. Zn was sought after during the late 1800’s and early 1900’s and as such was not highlighted in historical records

==> picture [269 x 170] intentionally omitted <==

----- Start of picture text -----

Kasey Copper Anomaly
(7km x 3km)
30 km
----- End of picture text -----

==> picture [217 x 126] intentionally omitted <==

----- Start of picture text -----

Fold Copper
Anomaly (4km x 2km)
Spring Creek Fault
----- End of picture text -----

• Identified drill targets:

– 1. Four copper mines walk up drill targets, never drilled

1. Two large drainage anomaly targets based on regional stream/soil geochemical and magnetic surveys. Large anomaly suggest potential for sizeable occurrence

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

18

(Appendix I) Trough Gully Copper/Zinc

• Phase I drilling program returns significant Cu & Zn assays plus consistent Au & Ag credits at Trough Gully Copper Mine, including TGY007 intercept 30m below old workings

• ➢ TGY007: 7.30m @ 9.47% ZnEq from 92.1m

  • (4.93% Zn, 1.37% Cu, 0.36 g/t Au & 10.1 g/t Ag)

• ➢ TGY003: 6.90m @ 9.21% ZnEq from 50.9m

  • (4.49% Zn, 1.30% Cu, 0.50g/t Au & 17.4g/t Ag)

• This is the first modern drill program at the historic Trough Gully Copper Mine, part of Lode’s 100%-owned Fender Copper Project

• Intersecting significant copper and zinc mineralisation at shallow depths in a first pass drill programme has implications for other prospects such as the very large Kasey Cu anomaly

• Significant, previously under-recognized zinc mineralisation indicates the mineral potential of Trough Gully may have been highly underestimated

• Rougher flotation recoveries up to 97.5% for Zn, 98.8% for Cu, 97.2% for Au and 98.8% for Ag in preliminary a single product bulk concentrate

High-grade chalcopyrite (copper) mineralisation from drill hole TGY007

==> picture [327 x 55] intentionally omitted <==

----- Start of picture text -----

10cm
----- End of picture text -----

==> picture [397 x 426] intentionally omitted <==

----- Start of picture text -----

South North
TGY001: 7.5m
anomalous Cu & Zn
Mined
Ore
TGY004: Line of lode was
not intercepted potentially
due to fault offset
TGY003: 6.90m @ 9.21% ZnEq
TGY005: Line of lode was
not intercepted potentially
TGY006: 2.80m @ @ 2.61% ZnEq due to fault offset
TGY007: 7.30m @ 9.47% ZnEq
Open Open
Open
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

Lode Resources Ltd | November 2022

19

Open

(Appendix I) New Projects Recently Added To Base Metal Portfolio

• Recent granting of Exploration Licence No. 9319 (“Sandon”) increases Lode’s Exploration Licence area by 78%

Bundarra Copper Project

• Bundarra Copper Project and Abington Base Metal Project are the two most prominent explorations targets

==> picture [856 x 367] intentionally omitted <==

----- Start of picture text -----

Outcropping mineralisation
most prominent explorations targets Gravity anomaly Elevated copper
coincident with with no min e and workings
• Extensive historic surface work means minimal preliminary work copper anomaly -not drilled contamination
needed for drill target definition
Abington Base Metal Project
Bundarra Bundarra
Copper Mine Copper Mine
Drilling only
targeted Fe/Si
Gossan
Elevated copper in
Significant silver
Significant gravity soils with mine
anomaly anomaly coincident contamination
with copper anomaly
- not drilled
Bouger Gravity Elevated copper
with no mine
(milligals)
contamination
Significant silver
anomaly
Copper in soils (ppm)
0 200m 0 200m
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

20 Lode Resources Ltd | November 2022

(Appendix I) Greenfield Opportunities: Thor Gold & Tea Tree Gold

Thor Gold

• Radiometric imagery shows thorium signatures potentially indicating shallowly buried or just unroofed granites and/or areas of related alteration. Intrusive related gold deposits are spatially associated with moderately reduced granites of felsic to intermediate composition.

• Alternatively major structures such as the Plagyan fault may tap deep crustal fault systems providing a suitable environment for epizonal orogenic gold deposition

• Source of 2km gold in drainage anomaly unexplained at Maules Creek

• Newmont has pegged ground with similar geology

Tea Tree Gold

• Historical goldfield with 21 historical workings. 93 rock chip samples averaged 2.42 g/t Au. Highest value 152g/t Au[1]

• One drill hole returned 6.3 g/t Au over 2m from 35m but no follow up

• No systematic soil sampling or ground geophysics

==> picture [405 x 398] intentionally omitted <==

----- Start of picture text -----

Lode Resources
Out cropping mineralisation
and workings
Thor Gold
• Maules Creek has
EL9084
2km gold anomaly
• No drilling
EL9085
• Zones of
elevated Th
Tea Tree Gold
• 21 historical workings
• 93 rock chip samples averaged
2.42 g/t Au [1]
• Highest value 152g/t Au [1]
• One drill hole returned 2m @
6.3 g/t Au [1] but no follow up
Newmont
EL9085
30 km
----- End of picture text -----

==> picture [123 x 40] intentionally omitted <==

21 Lode Resources Ltd | November 2022