LODE RESOURCES LTD — Investor Presentation 2025

Feb 2, 2025

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Advanced High-Grade Antimony and Silver Projects

Critical Minerals for a Sustainable Future

February 2025

ASX:LDR

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Disclaimer, etc.

Disclaimer

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 market announcement that relates to exploration results is based on information compiled by Mr Jason Beckton, who is a Member of the Australian Institute of Geoscientists. The information in this market announcement is an accurate representation of the available data for Montezuma project. Mr Beckton, who is Executive Director – Resource Development at Lode, 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 Beckton has a beneficial interest as a shareholder and option holder of Lode and consents to the inclusion in this announcement 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[1]

Since the commencement of drilling at Webbs Consol Silver Project it was deemed that silver was the appropriate metal for equivalent calculations as silver is the most common metal to all mineralisation zones. This is still the case however zinc is becoming increasing dominant with depth and therefore LDR has decided to calculated both silver and zinc equivalent grades to demonstrate overall grades. Webbs Consol silver and zinc equivalent grades are based on assumptions: AgEq(g/t)=Ag(g/t)+32.31Zn(%)+27.47Pb(%)+87.05Cu(%)+83.05Au(g/t) & ZnEq(g/t)=0.031Ag(g/t)+Zn(%)+0.850Pb(%)+0.2.694Cu(%)+2.57Au(g/t) calculated from 12 February 2024 (previously 29 August 2022) spot metal prices of US$22.7/oz silver, US$2325/t zinc, US$2060/t lead, US$8100/t copper, US$2020/oz gold and metallurgical recoveries of 97.3% silver, 98.7% zinc, 94.7% lead, 76.3% 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”. 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 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“ LDR announcement 17 January 2023 titled “54m High grade Silver Eq Intercept” LDR announcement 1 February 2023 titled “Outstanding High-Grade Drill Intercept” LDR announcement 27 February 2023 titled “Diamond Drilling Program Recommences at Webbs Consol” LDR announcement 18 May 2023 titled “High-Grade Drill Intercepts at Webbs Consol” LDR announcement 13 June 2023 titled “High-Grade Mineralisation Extended to 280m Vertical Depth” LDR announcement 6 July 2023 titled “New Targets Defined at Webbs Consol Silver Project ” LDR announcement 18 July 2023 titled “CSIRO Collaboration Study”

LDR announcement 10 August 2023 titled “Webbs Consol Silver Project Exploration Update” LDR announcement 9 October 2023 titled “High-Grade Drill Intercepts At Webbs Consol Silver Project” LDR announcement 16 October 2023 titled “Significant Drill Target Defined at WC Silver Project” LDR announcement 22 November 2023 titled “Drilling Commences On Large Surface Silver Anomaly” LDR announcement 19 February 2024 titled “Drilling at Webbs Consol North Delivers Solid Silver-Zinc Intercepts” LDR announcement 12 March 2024 titled “Significant Auger Drill Program Completed At Uralla Gold Project” LDR announcement 9 April 2024 titled “CSIRO Research Enhances Upside at Webbs Consol Silver Project” LDR announcement 8 May 2024 titled “Augur Drilling Defines Multiple Targets at Uralla Gold Project” LDR announcement 22 July 2024 titled “Silver Drilling to Resume at Webbs Consol” LDR announcement 26 August 2024 titled “Lode Secures Strategic Antimony Prospects” LDR announcement 23 October 2024 titled “Advanced High-Grade Antimony & Silver Project Acquisition” LDR announcement 29 February 2025 titled “Acquisition of Montezuma Antimony Project Completed” LDR announcement 9 December 2024 titled “Montezuma Antimony Project Development Activities Commence” LDR announcement 11 December 2024 titled “Castlereagh Delivers Outstanding Silver Intercepts” LDR announcement 21 January 2025 titled “Montezuma Antimony Project Inaugural High-Grade Assays” LDR announcement 3 February 2025 titled “High-Grade Antimony and Silver Drill Intercepts”

Montezuma Acquisition Cautionary Statement

Note grab sampling is selective in nature with resultant assay grades considered to be qualitative rather than quantitative and not necessarily representative of underlying mineralisation which may actually be lower or higher in grade.

No Material Changes

The Company confirms it is not aware of any new information or data that materially affects the information in this presentation and, in the case of estimates of mineral resources or ore reserves, that all material assumptions and technical parameters underpinning the estimates in this presentation continue to apply and have not materially changed.

Very high-grade drill core from Tangoa West Lode, Webbs Consol Silver Project. Drill hole WCS052A: 7.9m @ 1,716 g/t AgEq (from 202.2m), within: 149.2m @ 455 g/t AgEq (from 98.0m)

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Contents

1 2 3 4 5 6	1 2 3 4 5 6
	1	Corporate Snapshot
	2	Executive Summary
	3	Montezuma Antimony Project, Tasmania
	4	The Antimony Market
	5	Webbs Consol Silver Project and Uralla Gold Project, NSW
	6	Conclusions and Next Steps

Montezuma Antimony Deposit - massive stibnite & jamesonite lode mineralisation. Assay of trench grab sample SGD+25 returned 24.5% Sb, 501g/t Ag and 39.8% Pb

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3
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Lode Resources Ltd | February 2025 3

1

Corporate Snapshot

Share Price Price (A$/sh)

Corporate Structure
Share Price (3/2/25)	A$0.092
Cash (Dec Qtr 2024)	$4.6m
Shares on Issue	161.8m
Market Capitalisation (at $0.0.92/share)	$14.9m
Unlisted Options	4.5m

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Major Shareholders
ANDREW VAN HEYST 12.1%
TED LESCHKE 11.8%
TECHNICAL INVESTING 4.5%
ASHABIA 1.9%
32%
Directors &
management
68%
Free Float
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Lode Resources Ltd | February 2025 4

2 Executive Summary Uses of Funds

Uses of funds				A$m
Montezuma Antimony Project (Tasmania)
➢Upgrading/modification of demonstration plant				$0.6
➢Development drive				$0.2
➢Metallurgical test work				$0.1
➢Exploration				$1.2
Magwood Antimony Project (New South Wales)				$0.5
Webbs Consol Silver Project (New South Wales)				$0.7
Uralla Gold Project ( New South Wales)				$0.3
General Working Capital				$1.0
Total uses of funds				$4.6

Montezuma Antimony Deposit - mined stibnite & jamesonite mineralisation. Assays of representative sample returned 9.02% Sb, 769g/t Ag and 15.47% Pb

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Lode Resources Ltd | February 2025 5

2 Executive Summary Overview

Focus on Antimony and Silver in Tasmania and the New England Fold Belt

100% ownership of all projects with characteristics of high grade and open mineralisation

Portfolio of strategic antimony prospects - acquisition of Montezuma Antimony Project in Tasmania together with the historic Magwood antimony mine in the New England Fold Belt creates formidable antimony portfolio. Market recognition of the criticality of antimony is increasing rapidly

– Montezuma Antimony Project Lode has commenced exploration with plans to establish an MRE, complete metallurgy and develop an initial pilot production ahead of full-scale production. Montezuma is a very high-grade project and fast tracks Lode’s Antimony and Silver strategies

• Significant intercepts include: 12.02% Sb, 1,677 g/t Ag, 1.16 g/t Au over 2.6m (MZSFW5) 12.00% Sb, 1,030 g/t Ag, 2.37 g/t Au over 2.0m ( MZSFW3)

Within: 5.02% Sb, 738 g/t Ag, 0.70 g/t Au over 8.6m (MZSFW5) 2.98% Sb, 263 g/t Ag, 0.71 g/t Au over 10.5m in (MZSFW3)

Webbs Consol Silver Project - multiple high-grade silver-zinc intercepts

Best 5 intercepts:

• 721 g/t AgEq over 116.1m (WCS045) 455 g/t AgEq over 149.2m (WCS052A) 755 g/t AgEq over 65.8m (WCS050) 971 g/t AgEq over 24.5m (WCS047) 466 g/t AgEq over 40.2m (WCS052B)

Uralla Gold Project – multiple high-grade gold intercept

Best intercepts: 14.0m @ 4.82 g/t Au within 26.0m @ 2.80 g/t Au (SGRDD002) 7.0m @ 7.47 g/t Au within 18.0m @ 3.51 g/t Au (SGRDD004)

Board and Management - highly experienced in exploration and equity markets

Lode Resources Ltd | February 2025 66

2 Executive Summary

Acquisition of Montezuma Antimony Project, Tasmania

a Antimony Project, Tasmania	a Antimony Project, Tasmania
Lode is Progressing Montezuma - one of Australia’s Highest Grade Antimony Projects
Overview	➢Lode announced on Wednesday 23 October 2024an agreement to acquire 100% of the Montezuma Antimony Project located in Tasmania’s West Coast mining province. The acquisition was completed on 9 December 2024
Consideration	➢10,000,000 fully paid ordinary shares in Lode at a deemed issue price of $0.10 per share and escrowed for 12 months from issuance - completed ➢Up to 6,000,000 fully paid ordinary shares in Lode at a deemed issue price of $0.10 per share upon satisfaction of certain performance hurdles (US Department of Defense white paper, JORC Mineral Resources estimate, antimony offtake agreement, 50m exploration drive, R&D Tax Incentive by the vendors), escrowed for 12 months from issuance ➢$200,000 cash - paid ➢$50,000 non-refundable cash deposit – paid
Assets	➢Montezuma Antimony-Silver Deposit ➢Significant Exploration and Mining Equipment, Beneficiation and Service Infrastructure
Due diligence	➢Lode conducted extensive technical due diligence on Montezuma prior to completion
Project qualities	➢High-grade antimony-silver deposit with initial development ➢Advanced metallurgical test work ➢Significant mining equipment and beneficiation infrastructure ➢Highly prospective = strong exploration upside

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Lode Resources Ltd | February 2025 7

3 Montezuma Antimony Project, Tasmania Project Highlights

High-grade 1 antimony-silverlead deposit

Advanced 2 metallurgical test work

Significant mining equipment and 3 beneficiation infrastructure

Strong exploration 4 upside

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• Surface sampling, initial drill intercepts and exploration drive sampling has demonstrated Montezuma lode to be a very high-grade antimony and silver deposit.

• Exploration drive development sampling:

• ➢ Combined mined mineralisation-waste averaged 4.75% Sb and 239 g/t Ag ➢ Selective mined mineralisation averaged 9.02% Sb and 769 g/t Ag

• Metallurgical test work is well advanced with 90% recoveries of antimony achieved producing a saleable antimony product

• Off-take and R&D funding discussions are ongoing with local and international institutions including those representing major western governments

• Mining / exploration equipment acquired includes underground loader, excavator, bucket crusher, blast hole drilling equipment, hoppers, pumps, diamond drill rig, etc. This will provide Lode with material operational flexibility and a capital efficient pathway to progressing Montezuma

• ➢ Beneficiation infrastructure acquired includes grid power, crusher ball mill, full raw water supply dam and a recently constructed tailings dam

• ➢ Exploration by EZ in the 1980’s delineated a 500m Sn soil anomaly and a single drill hole intercepted antimony-silver mineralisation at 80m demonstrating potential continuity of mineralisation at depth

• ➢ Surface mapping and sampling is currently underway extending known mineralisation and defining the Montezuma Sb-Ag deposit structure along strike.

• ➢ An extensive diamond drill programme of up to 10,000m is in the final stages of planning and details are expected to be reported to the market once mobilisation is underway. The Montezuma deposit remains open to the north, south and at depth

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Saleable antimony product sodium pyroantimonate (Na4Sb2O7) produced during metallurgical test work

Lode Resources Ltd | February 2025 8

3 Montezuma Antimony Project, Tasmania Project Location

Location overview

• ➢ Montezuma Antimony Project located in Tasmanian’s premier West Coast Mining Province

• ➢ Well-known Tasmanian mining centres surround Montezuma Antimony Project including Rosebury (Zn, Pb, Cu), Renison Bell (Sn), Henty (Au), Zeehan (Pb, Ag, Sn) and Mt Lyell (Cu)

• ➢ Montezuma Antimony Project’s deposit (2M2023, EL7-2019) located 14km west of the Zeehan town ship using state highways and developed rock-based road tracks

Several significant mining centres surround LDR’s 100% owned Montezuma Antimony Project

• ➢ Montezuma Antimony Project’s beneficiation infrastructure site located 15km to the northwest of the Zeehan township using state highways

• ➢ Ample local mining services, pro-mining culture and very supportive state government

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Lode Resources Ltd | February 2025 9

3 Montezuma Antimony Project, Tasmania Project Location

Location overview

• ➢ Montezuma Antimony Project located in Tasmanian’s premier West Coast Mining Province

• ➢ Well-known Tasmanian mining centres surround Montezuma Antimony Project including Rosebury (Zn, Pb, Cu), Renison Bell (Sn), Henty (Au), Zeehan (Pb, Ag, Sn) and Mt Lyell (Cu)

• ➢ Montezuma Antimony Project’s deposit (2M2023, EL7-2019) located 14km west of the Zeehan town ship using state highways and developed rock-based road tracks

• ➢ Montezuma Antimony Project’s beneficiation infrastructure site located 15km to the northwest of the Zeehan township using state highways

• ➢ Ample local mining services, pro-mining culture and very supportive state government

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Montezuma West
Beneficiation Infrastructure
(2M-2018, 32M-1988, EL9-2019)
Montezuma East
Antimony-Silver Deposit
Insert Map (2M-2023, EL7-2019 )
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Lode Resources Ltd | February 2025 10

3 Montezuma Antimony Project, Tasmania Surface and development Sampling

Surface grab sampling

• ➢ Surface grab samples - 5m intervals along a 50m exposure of the deposit

• ➢ Surface grab samples grades up to 24.5% Sb, 3,050 g/t Ag and 39.1% Pb.

• ➢ Surface grab samples grades averaged 11.9% Sb, 843 g/t Ag and 18.0% Pb

Development face sampling

• ➢ LT1 development face averaged 9.31% Sb, 306 g/t Ag and 16.73% Pb

• ➢ LT2 development face averaged 7.81% Sb, 804 g/t Ag and 10.85% Pb

• ➢ LT3 development face averaged 6.18% Sb, 301 g/t Ag and 11.71% Pb

Stockpiled mineralisation sampling

• ➢ Mined mineralisation/waste averaged 4.75% Sb, 239 g/t Ag and 9.36% Pb

Stockpiled mineralisation sampling

	Sample	Sb	Ag	Pb		Sample	Sb	Ag	Pb
	Number	%	g/t	%		Number	%	g/t	%
	DSO1 All in	4.16	232	8.48		DSO11/22 01	7.96	917	12.85
	DSO2 All in DSO3 All in	4.30 5.25	237 244	8.87 9.88		DSO11/22 02 DSO11/22 03	9.01 10.10	672 718	16.30 17.25
	DSO4 All in Average	5.29 4.75	243 239	10.20 9.36		Average	9.02	769	15.47

• ➢ Mined mineralisation averaged 9.02% Sb, 769 g/t Ag and 15.47 % Pb

• ➢ Representative sampling shows good grade continuity

Development face sampling

Surface grab sampling

Sample number	Sb(%)	Ag (g/t)	Pb(%)
SGD+0	6.01	446	10.60
SGD+5	18.30	3,050	18.90
SGD+10	10.10	1,950	14.00
SGD+15	17.20	399	29.68
SGD+25	24.50	501	39.08
SGD+30	16.90	640	16.70
SGD+35	4.36	124	6.81
SGD+40	5.73	175	11.00
SGD+45	10.40	158	17.50
SGD+50	5.12	986	15.80
Average	11.86	843	18.01

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Sample	Easting	Northing	RL	From	To	Interval	Sb	Ag	Pb
Number	m	m	m	m	m	m	%	g/t	%
LT101	373154.2	5364182.0	620.0	0.00	0.50	0.50	17.50	434	34.00
LT102				0.50	1.45	0.95	3.07	186	5.26
LT103				1.45	1.85	0.40	13.90	431	22.40
LT1 Total Interval				0.00	1.85	1.85	9.31	306	16.73
LT201	373154.3	5364178.1	620.0	0.00	0.50	0.50	18.65	2,478	25.80
LT202				0.50	1.10	0.60	5.90	346	8.49
LT203				1.10	1.60	0.50	6.78	534	9.21
LT204				1.60	2.20	0.60	1.54	93	2.13
LT2 Total Interval				0.00	2.20	2.20	7.81	804	10.85
LT301	373154.0	5364176.3	620.3	0.00	0.30	0.30	13.65	1,170	21.00
LT302				0.30	0.50	0.20	21.40	462	44.30
LT303				0.50	2.00	1.50	2.66	106	5.51
LT3 Total Interval				0.00	2.00	2.00	6.18	301	11.71

Lode Resources Ltd | February 2025 11

3 Montezuma Antimony Project, Tasmania High-Grade Antimony & Silver Lode Deposit

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LT1 development face averaged 9.31% Sb, 306 g/t Ag and 16.73% Pb
0.50 metres 0.90 metres 0.40 metres
17.5% Sb 3.1% Sb 13.9% Sb
434 g/t Ag 186 g/t Ag 431 g/t Ag
34.0% Pb 5.3% Pb` 22.4% Pb
Charged blast holes
ready to be fired
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Montezuma Antimony Project Deposit

• ➢ The Montezuma deposit is a structurally controlled lode hosting high-grade antimony-silver

• ➢ Emplaced is primarily within the well-known Montezuma fault and hosted by a sequence of turbidites, siltstones, sandstones and black shale units.

• ➢ Antimony and lead are contained within Jamesonite, a lead-iron-antimony sulphide mineral (Pb4FeSb6S14), a late-stage hydrothermal mineral forming at moderate to low temperatures.

• ➢ Stibnite (Sb2S3) is also relatively abundant.

• ➢ Also prospective for gold, zinc, copper, tin and tungsten.

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Lode Resources Ltd | February 2025 12

3 Montezuma Antimony Project, Tasmania Drill Sampling

Montezuma Antimony Project diamond drilling

• ➢ To date 12 diamond drill holes have intercepted mineralisation at the Montezuma antimony-silver-lead deposit

• ➢ 4 holes from the hanging wall (MZSHW1-4), 8 holes from the footwall (MZSFW1-8)

• ➢ All drill core to be logged and re-assayed to JORC 2012 standards

• ➢ Extensive diamond drill programme of up to 10,000m is in the final stages of planning

• ➢ Details are expected to be reported to the market once mobilisation is underway

• ➢ The Montezuma deposit remains open to the north, south and at depth.

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Hole	From	To	Interval	Sb	Ag	Au	Pb	Cu	Sn
	(m)	(m)	(m)	(%)	(g/t)	(g/t)	(%)	(%)	(%)
MZSFW1	3.00	12.50	9.50	1.86	291	0.38	2.82	0.14	0.09
incl.	7.30	11.20	3.90	1.95	430	0.38	2.67	0.12	0.07
incl.	8.60	10.50	1.90	5.36	913	0.66	8.33	0.37	0.21
MZSFW2	11.00	19.00	8.00	2.13	223	0.72	3.61	0.10	0.20
incl.	12.10	16.80	4.70	3.49	340	1.03	5.92	0.11	0.26
incl.	14.30	16.00	1.70	5.59	649	1.08	7.99	0.17	0.10
MZSFW3	2.50	13.00	10.50	2.98	263	0.71	4.66	0.17	0.14
incl.	4.70	12.00	7.30	4.18	353	0.93	6.52	0.23	0.17
incl.	9.00	11.00	2.00	12.00	1,030	2.37	17.80	0.61	0.39
MZSFW4	3.00	12.00	9.00	0.17	98	0.52	0.19	0.11	0.10
inl	7.50	9.00	1.50	0.34	224	2.03	0.19	0.42	0.37
MZSFW5	0.00	8.60	8.60	5.02	738	0.70	7.28	0.32	0.16
incl.	3.30	8.20	4.90	8.59	**1,251 **	1.18	12.43	0.54	0.26
incl.	5.20	7.80	2.60	12.02	1,677	1.16	17.40	0.71	0.33
MZSFW6	3.00	6.80	3.80	1.23	443	1.23	2.01	0.21	0.10
incl.	3.00	5.80	2.80	1.55	543	1.46	2.52	0.26	0.10
incl.	3.80	4.90	1.10	2.34	741	1.56	3.33	0.41	0.11
MZSFW7	15.00	22.00	7.00	3.57	**432 **	1.03	4.60	0.17	0.10
Incl.	16.70	20.70	4.00	6.05	722	1.66	7.76	0.28	0.16
Incl.	19.40	20.20	0.80	18.23	612	1.30	22.56	0.20	0.13
MZSFW8	3.00	3.50	0.50	1.30	49	0.35	2.59	0.27	0.15
MZSFW8	10.00	15.00	5.00	2.75	280	1.12	4.51	0.22	0.31
incl.	10.90	13.80	2.90	4.38	445	1.80	7.22	0.34	0.50
MZS01	19.50	24.30	4.80	0.44	58	0.28	0.78	0.06	0.06
incl.	21.00	23.70	2.70	0.74	79	0.36	1.35	0.10	0.05
MZS02	22.00	25.00	3.00	1.79	**101 **	0.51	4.56	0.12	0.14
incl.	23.10	24.00	0.90	5.51	285	1.33	14.30	0.35	0.27
MZS03	25.20	30.00	4.80	2.31	329	0.48	4.05	0.13	0.08
incl.	28.00	29.30	1.30	6.58	826	0.76	11.33	0.27	0.13
MZS04	10.00	13.00	3.00	0.09	174	0.14	0.12	0.05	0.11
MZS04	23.00	30.90	7.90	0.14	25	0.31	0.21	0.03	0.04

Lode Resources Ltd | February 2025 13

3 Montezuma Antimony Project, Tasmania Surface & Drill Sampling – Long Section

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MZSFW1
9.50m @
1.86% Sb
291 g/t Ag
0.38 g/t Au
MZSFW8 MZSFW4 MZSFW6
5.00m @ 9.00m @ 3.80m @
2.75% Sb 0.17% Sb 1.23% Sb
280 g/t Ag 98 g/t Ag 443 g/t Ag
? 1.12 g/t Au 0.52 g/t Au 1.23 g/t Au
MZSFW3 MZS01
10.50m @ 4.80m @
? 2.98% Sb 0.44% Sb
MZSFW7 263 g/t Ag 58 g/t Ag
7.00m @ 0.71 g/t Au 0.28 g/t Au
3.57% Sb
Open
1.03 g/t Au 432 g/t Ag ? 8.00m @ MZSFW2 3.00m @ MZS02 Modelled
2.13% Sb 1.79% Sb Montezuma
? 0.72 g/t Au223 g/t Ag MZSFW5 0.51 g/t Au 101 g/t Ag Structure
8.60m @
5.02% Sb MZS03
738 g/t Ag MZS04 4.80m @
0.70 g/t Au 7.90m @ 2.31% Sb
0.14% Sb 329 g/t Ag
25 g/t Ag 0.48 g/t Au
0.31 g/t Au
Open
g
SGD+0: 6.01% Sb 446 g/t Ag 10.6% Pb
SGD+5: 18.30% Sb 3,050g/t Ag 18.9% Pb SGD+10: 10.10% Sb 1,950 g/t Ag 14.00% Pb SGD+15: 17.2% Sb 399 g/t Ag 29.68% Pb
SGD+25: 24.50% Sb 501 g/t Ag 39.08% Pb
SGD+30: 16.90% Sb 640 g/t Ag 16.70% Pb SGD+50: 5.12% Sb 986 g/t Ag 18.50% Pb
SGD+35: 4.36% Sb 124 g/t Ag 13.81% Pb SGD+40: 5.73% Sb 175 g/t Ag 11.00% Pb SGD+45: 10.40% Sb 158 g/t Ag 17.5% Pb
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Lode Resources Ltd | February 2025 14

3 Montezuma Antimony Project, Tasmania Exploration Model

Montezuma Antimony Project

– a model for exploration

Structural geology

• ➢ Strong shearing and open space fracturing along the Montezuma Fault

• ➢ Montezuma structure (striking 012° grid, dipping 75° W), interception with surface modelled along strike

Geochemistry

• ➢ Historical antimony was rarely assayed – need to use geochemical associations Sb-Ag-Au-Pb-Cu-Zn-Sn

• ➢ Cassiterite (Sn) is relatively resistant to chemical weathering

• ➢ Sn anomaly over 500m strike

Modelled interception of Montezuma structure with surface is coincidental with Sn anomaly to the south

Surface Channel Sampling SGD+50: 5.12% Sb, 986 g/t Ag SGD+45: 10.40% Sb, 158 g/t Ag Development Face SGD+40: 5.73% Sb, 175 g/t Ag Sampling LT1: 1.8m @ 9.31% Sb, 306g/t Ag SGD+35: 4.36% Sb, 124 g/t Ag LT2: 2.20m @ 7.81% Sb, 804g/t Ag SGD+30: 16.90% Sb, 640 g/t Ag LT3: 2.0m @ 6.18% Sb, 301g/t Ag SGD+25: 24.50% Sb, 5.01 g/t Ag SGD+15: 17.2% Sb, 399 g/t Ag SGD+10: 10.10% Sb, 1,950 g/t Ag SGD+5: 18.30% Sb, 3,050g/t Ag SGD+0: 6.01% Sb, 446 g/t Ag Modelled interception of Montezuma structure with surface

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Lode Resources Ltd | February 2025 15

3 Montezuma Antimony Project, Tasmania Significant Exploration Potential

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

Surface Channel
Montezuma Sampling
Sb-Ag SGD+50: 5.12% Sb, 986 g/t Ag
deposit
SGD+45: 10.40% Sb, 158 g/t Ag
Development Face SGD+40: 5.73% Sb, 175 g/t Ag
Sampling
LT1: 1.8m @ 9.31% Sb, 306g/t Ag SGD+35: 4.36% Sb, 124 g/t Ag
LT2: 2.20m @ 7.81% Sb, 804g/t Ag
SGD+30: 16.90% Sb, 640 g/t Ag
LT3: 2.0m @ 6.18% Sb, 301g/t Ag
SGD+25: 24.50% Sb, 5.01 g/t Ag
SGD+15: 17.2% Sb, 399 g/t Ag
SGD+10: 10.10% Sb, 1,950 g/t Ag
Strong Sn soil anomaly
Peak value 1,360 ppm Sn
SGD+5: 18.30% Sb, 3,050g/t Ag
SGD+0: 6.01% Sb, 446 g/t Ag
Modelled interception of
Montezuma structure with
surface
Modelled interception of
Montezuma structure with
surface
Soil Sn contours: Electrolytic Zinc Company of Australia Ltd - Part
Exploration Licence No. 15/76; Progress Report on Exploration
Activities November, 1982 to May, 1983
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Lode Resources Ltd | February 2025 16

3 Montezuma Antimony Project, Tasmania Beneficiation Options

X-Ray Sorting System Producing HG DSO

Hydrometallurgical Options Producing HG Concentrate

Sodium Pyroantimonate Synthetic Stibnite

Synthetic Stibnite Jamesonite & Stibnite (Na4Sb2O7) (Sb2S3) (Pb4FeSb6S14 & Sb2S3 ) Metallurgical tests to be completed New idea to be investigated

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Lode Resources Ltd | February 2025 17

3 Montezuma Antimony Project, Tasmania Development Strategy and Next Steps at Montezuma

Exploration to include surface and development mapping/sampling, bring existing drilling up to JORC standards, surface and/or underground drilling

Aim to develop a mineable resource , supporting scaled up beneficiation plant

Development strategy

Montezuma already has the in-place regulatory approval to mine 1,000 tonnes of material

Development ore will initially be treated through a pilot scale beneficiation plant

Commodity traders have expressed strong off-take interest given tight global antimony supply

Next steps at Montezuma

Quarter		4Q24			1Q25		2Q25		3Q25		4Q25
Re-assay existing core
Surface mapping/sampling
Finalise metallurgy & DSO option tests
Exploration adit development
Exploration drilling
Pilot plant upgrade/modification
Antimony production

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Lode Resources Ltd | February 2025 18

4

The Antimony Market

Increasing Antimony demand as a result of the Energy Transition and safety standards

Increasing uses of Antimony

• ➢ Solar panels (photovoltaic cells) to increase panel efficiency

• ➢ Defense – ammunition, night-vision goggles, infrared sensors

• ➢ High-tech sector – semiconductors, circuit boards, lighting

• ➢ Key element in lithium-ion batteries

• ➢ Fire-retardant – which is increasing in demand as a result of improving safety standards following the Grenfell Tower fire in London

• ➢ Critical to energy transition

• ➢ Antimony is considered a critical metal by most countries including Australia, US, UK, EU

• ➢ Citing national security concerns China has placed an export controls on antimony including ban on exports to the US

• ➢ US has not mined antimony since 2001

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China’s antimony production has fallen by 67% in the last decade

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Source: Bloomberg
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Antimony Prices have tripled in the West in just one year and are up circa 70% in China

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Source: USGS, Polyus 2023 Annual Report
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Lode Resources Ltd | February 2025 19

5 Other Lode Resources Antimony and Precious Metals Projects Summary of New England Fold Belt Projects

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NSW
Twin Hills
Gold & Silver Mt Carrington
Gold & Silver
FMG Resources
Timbarra
Gold & Silver
Webbs Consol
Silver Webbs
Silver
Sandon New England
Antimony Antimony
Thor Tea Tree
Gold Gold
Uralla
Gold Hillgrove
Gold & Antinomy
Rocky River
Gold
Okapi Resources
Enmore Gold Discovery
Fender
Newmont
Gold Copper/Zinc
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	Project	Licence	Commodity	Units	Area (km2)	Status
	Webbs Consol	EL8933	Silver/Zinc/Lead	16	48	Granted
	Webbs Consol Expanded	EL9454	Silver/Zinc/Lead	53	155	Granted
	Uralla	EL8980	Gold	80	237	Granted
	Uralla West New England Sandon	EL9087 EL9662 EL9319	Gold Antimony Antimony	22 399 273	65 1,105 809	Granted Granted Granted

1. Webbs Consol Silver – High grade Silver, Zinc, Lead bearing lodes – Excellent high-grade drill results

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

3. New England Antimony – Recently acquired antimony holdings including the historic Magwood Antimony Mine and 19 recorded antimony prospects – Antimony is now a considered a highly

strategic commodity

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Lode Resources Ltd owns a 2% Net Smelter Royalty (NSR) and Right of First Refusal over Thomson Resources Ltd’s 100% owned Webbs Silver Project (EL5674) which contains a significant undeveloped JORC Mineral Resource Estimate of 2.2Mt @ 205 g/t AgEq for a contained 14.2 Moz AgEq and is located 10m to the NE of Webbs Consol.

Lode Resources Ltd | February 2025 20

5 Other Lode Resources Antimony and Precious Metals Projects New England Antimony – Dominant Position in a Highly Strategic Metal

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➢ With the grant of EL9662, Lode secured
additional antimony prospects including the
historic Magwood Antimony Mine , a former
primary producer of antimony (Sb)
➢ 19 antimony prospects have been recently
identified within Lode’s EL9662 and EL9319
➢ Combined area of 1,914 km2, forming a
strategic antimony exploration portfolio in an
area of significant historical antimony
production
➢ Antimony is considered by most western Multiple Antimony Prospects
nations to be one of the world’s most critical
metals, especially with China announcing the
limitation of antimony exports from 15
September, 2024 due to national security
concerns
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Lode Resources Ltd | February 2025 21

5 Other Lode Resources Antimony and Precious Metals Projects Magwood Overview

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SW Main NE
Shaft Old
Shaft
➢ The Magwood mine was in production mainly between 1941 and Adit 1A
Drill Targets
1970 with recorded yearly production grades ranging from • remanent
Adit 1
4% to 62% Sb and was Australia’s primary antimony producer at • stockwork zones
the time • disseminated zones Adit 2
• parallel lodes
➢ Despite decades of production, Magwood has never been drilled • linkage lodes Adit 3
and there is almost no historical drilling within Lode’s antimony Level 1 & Adit 4
project area despite the geology being considered highly
Level 2
prospective for orogenic structurally-controlled antimony
mineralisation. Detailed surface work here is almost nonexistent
Level 3
➢ First seven years of production average 55% Sb indicating very Level 4
selective mining – hand sorting of massive stibnite (71% Sb)
➢ Historical mine records indicate zones of stockwork and
disseminated antimony mineralisation as well as 3 additional
semi-parallel Sb lodes Drill Targets
• down plunge
extensions Open
➢ Lode has now commenced field activities which is expected to • possible transition
ramp up into the Dec Quarter and beyond to Au rich Sb
mineralisation
? ?
300m
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Lode Resources Ltd | February 2025 22

5 Other Lode Resources Antimony and Precious Metals Projects Hillgrove Sb/Au Mineralised Lodes − An Analog for Magwood

Magwood

zero drill holes

Hillgrove

19,000 drill holes

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Sb dominant
+/- Au
?
Drill
Target
?
Drill
Target
?
Drill
Target
?
Au dominant
+/- Sb
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Source: LVR presentation 11 September 2024
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Lode Resources Ltd | February 2025 23

5 Other Lode Resources Antimony and Precious Metals Projects − Silver & Base Metals Webbs Consol Silver Project

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Webbs Consol Silver Project
N
located within EL8933
LDR controls 203 km [2] in the
Emmaville area
LDR controls 2,949 km [2 ] in the FMG Resources Pty Ltd
New England Fold Belt
FMG Resources Pty Ltd
Webbs Consol Leucogranite
• A metalliferous engine room
FMG Resources Pty Ltd
• Hosts high-grade
Silver/Zinc/Lead lodes
• Reflected as a significant Webbs Consol
regional gravity low FMG Resources Pty Ltd
• Silver Project
Entire unit is prospective for
Tangoa West style Webbs Consol 203 km [2]
mineralisation Leucogranite
• Multiple Ag-Zn-Pb lodes
discovered Lode Resources Ltd Camerons Creek Legend
EL8933 Prospect
• Only 3km of 12km long contact
explored in detail to date Bakers Claim
Prospect
Isolation
Lode Resources Ltd
Prospect
EL9454
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Lode Resources Ltd | February 2025 24

5 Other Lode Resources Antimony and Precious Metals Projects Webbs Consol Silver Project − Multiple Lodes Discovered

N WCS070: 21.0m @ 122 g/t AgEq Emmaville Volcanics WCS071: 13.0m @ 193 g/t AgEq WCS072: 34.0m @ 82 g/t AgEq WCS074: 20.0m @ 83 g/t AgEq WCS083: 12.5m @ 133 g/t AgEq[1] Webbs Consol WCS008: 21.2m @ 44 g/t AgEq Leucogranite WCS009: 10.0m @ 77 g/t AgEq WCS026: 34.3m @ 46 g/t AgEq WCS029: 30.5m @ 41 g/t AgEq

WCS006: 27.5m @ 357 g/t AgEq WCS007: 24.2m @ 273 g/t AgEq WCS028: 43.6m @ 83 g/t AgEq

Very high-grade drill core from Tangoa West 2

Drill hole WCS052A: 7.9m @ 1,716 g/t AgEq or 53.11% Zn (from 202.2m) within: 149.2m @ 455 g/t AgEq or 14.09% Zn (from 98.0m)

1,451 g/t AgEq or 44.91% ZnEq

1,948 g/t AgEq or 60.30% ZnEq

2,805 g/t AgEq or 86.80% ZnEq

WCS012: 12.1m @ 282 g/t AgEq

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

Webbs Consol
Leucogranite
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WCS023: 50.0m @ 224 g/t AgEq WCS031: 47.4m @ 112 g/t AgEq WCS091 16.9m @ 168 g/t AgEq[1] WCS092 22.20m @ 168 g/t AgEq[1]

WCS034: 20.5m @ 210 g/t AgEq WCS035: 13.7m @ 214 g/t AgEq WCS019: 26.7m @ 351 g/t AgEq WCS020: 31.0m @ 192 g/t AgEq WCS044: 54.0m @ 245 g/t AgEq WCS045: 116.1m @ 721 g/t AgEq WCS047: 24.5m @ 971 g/t AgEq WCS049: 44.2m @ 221 g/t AgEq WCS050: 65.8m @ 755 g/t AgEq WCS051 : 30.7m @ 289 g/t AgEq WCS052A: 149.2m @ 455 g/t AgEq WCS052B: 40.2m @ 466 g/t AgEq WCS064: 27.7m @ 407 g/t AgEq WCS065: 33.2m @ 332 g/t AgEq

1,200 g/t AgEq or 37.14% ZnEq

2,609 g/t AgEq or 80.73% ZnEq

2,495 g/t AgEq or 77.20% ZnEq

1,433 g/t AgEq or 44.33% ZnEq

1,109 g/t AgEq or 34.30% ZnEq

930 g/t AgEq or 28.79% ZnEq 1,325 g/t AgEq or 41.00% ZnEq

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Lode Resources Ltd | February 2025 25

5 Other Lode Resources Antimony and Precious Metals Projects Webbs Consol Silver Project − Multiple Lodes Discovered

N WCS070: 21.0m @ 122 g/t AgEq Emmaville Volcanics WCS071: 13.0m @ 193 g/t AgEq WCS072: 34.0m @ 82 g/t AgEq WCS074: 20.0m @ 83 g/t AgEq WCS083: 12.5m @ 133 g/t AgEq Webbs Consol WCS008: 21.2m @ 44 g/t AgEq Leucogranite WCS009: 10.0m @ 77 g/t AgEq WCS026: 34.3m @ 46 g/t AgEq WCS029: 30.5m @ 41 g/t AgEq WCS006: 27.5m @ 357 g/t AgEq WCS007: 24.2m @ 273 g/t AgEq WCS028: 43.6m @ 83 g/t AgEq WCS012: 12.1m @ 282 g/t AgEq WCS023: 50.0m @ 224 g/t AgEq WCS031: 47.4m @ 112 g/t AgEq WCS091 16.9m @ 168 g/t AgEq[1] WCS092 22.20m @ 168 g/t AgEq[1] Webbs Consol WCS034: 20.5m @ 210 g/t AgEq Leucogranite WCS035: 13.7m @ 214 g/t AgEq WCS019: 26.7m @ 351 g/t AgEq WCS020: 31.0m @ 192 g/t AgEq WCS044: 54.0m @ 245 g/t AgEq WCS045: 116.1m @ 721 g/t AgEq WCS047: 24.5m @ 971 g/t AgEq WCS049: 44.2m @ 221 g/t AgEq WCS050: 65.8m @ 755 g/t AgEq WCS051 : 30.7m @ 289 g/t AgEq WCS052A: 149.2m @ 455 g/t AgEq WCS052B: 40.2m @ 466 g/t AgEq WCS064: 27.7m @ 407 g/t AgEq WCS065: 33.2m @ 332 g/t AgEq

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From To Interval (m) (m) (m) Hole	From To Interval (m) (m) (m) Hole	From To Interval (m) (m) (m) Hole	From To Interval (m) (m) (m) Hole	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect	AgEq1 ZnEq1 Ag Pb Zn Cu Endowment (g/t) (%) (g/t) (%) (%) (%) (AgEq g/t.m) Prospect
WCS045	90.9	207.0	116.1	721	22.33	254	6.35	8.35	0.24	83,756	Tangoa West
WCS052A	98.0	247.2	149.2	455	14.09	183	3.13	5.19	0.19	67,951	Tangoa West
WCS050	104.4	170.2	65.8	755	23.37	266	13.56	2.38	0.42	49,700	Tangoa West
WCS047	144.7	169.2	24.5	971	30.06	389	1.56	16.00	0.24	23,799	Tangoa West
WCS052B	279.0	319.2	40.2	466	14.41	83	0.16	11.56	0.04	18,715	Tangoa West
WCS065	270.0	303.2	33.2	332	10.26	64	0.14	8.13	0.01	11,011	Tangoa West
WCS064	203.3	231.0	27.7	407	12.60	146	0.35	7.69	0.03	11,274	Tangoa West
WCS044	48.3	102.3	54.0	245	7.57	84	3.69	1.22	0.21	13,211	Tangoa West
WCS023	17.0	67.0	50.0	244	7.56	94	2.93	1.81	0.08	12,209	Castlereagh
WCS006	104.6	132.1	27.5	357	11.03	118	0.77	6.52	0.07	9,804	Main Shaft
WCS049	81.8	126.0	44.2	221	6.85	68	4.16	0.56	0.20	9,781	Tangoa West
WCS051	79.0	109.7	30.7	289	8.95	93	3.88	2.13	0.21	8,875	Tangoa West
WCS019	30.1	56.8	26.7	351	10.86	115	6.43	1.07	0.25	9,371	Tangoa West
WCS007	122.9	147.1	24.2	273	8.46	63	0.49	5.96	0.04	6,603	Main Shaft
WCS020	30.6	61.6	31.0	192	5.95	55	3.37	0.98	0.12	5,960	Tangoa West
WCS031	66.5	113.9	47.4	112	3.47	46	0.79	1.22	0.04	5,308	Castlereagh
WCS034	16.0	36.5	20.5	210	6.51	77	1.10	2.87	0.10	4,310	Copycat
WCS028	138.4	182.0	43.6	83	2.58	12	0.28	1.91	0.02	3,636	Main Shaft
WCS092	118.0	140.2	22.2	157	4.87	39	1.52	2.17	0.01	3,495	Castlereagh
WCS012	48.0	60.1	12.1	282	8.73	108	5.49	0.36	0.10	3,415	Mt Galena
WCS035	23.3	37.0	13.7	214	6.62	87	0.71	2.61	0.26	2,931	Copycat
WCS091	77.7	94.6	16.9	168	5.19	50	2.66	1.27	0.01	2,836	Castlereagh
WCS070	2.0	23.0	21.0	122	3.76	97	0.33	0.35	0.01	2,553	WC North
WCS072	18.0	52.0	34.0	82	2.54	25	0.63	1.19	0.01	2,794	WC North
WCS071	10.0	23.0	13.0	193	5.97	82	0.36	3.03	0.01	2,509	WC North
WCS083	47.5	60.0	12.5	133	4.12	26	0.29	2.91	0.05	1,663	WC North
WCS026	28.7	63.0	34.3	46	1.43	23	0.13	0.26	0.06	1,581	Luck LucyN
WCS074	75.0	88.0	13.0	83	2.57	20	0.49	1.45	0.01	1,081	WC North
WCS008	24.0	45.2	21.2	44	1.36	17	0.09	0.14	0.01	932	Luck LucyN
WCS084	57.1	72.0	14.9	53	1.63	14	0.46	0.76	0.02	786	WC North
WCS009	70.0	80.0	10.0	77	2.39	45	0.09	0.17	0.23	774	Luck LucyN
WCS087	44.0	51.0	7.0	66	2.05	20	0.10	1.31	0.01	463	WC North
WCS029	36.3	42.1	5.8	41	1.26	10	0.43	0.55	0.01	236	Luck LucyN

Lode Resources Ltd | February 2025 26

5 Other Lode Resources Antimony and Precious Metals Projects Tangoa West – High-Grade Lode Remains Open At Depth and Along Strike

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Vertical Section View
South North
Drill Hole WCS044 Drill Hole WCS020
54.0m @ 245 g/t AgEq or 7.57% ZnEq 31.0m @ 192 g/t AgEq or 5.95% ZnEq
Drill Hole WCS019
26.7m @ 351 g/t AgEq or 10.86% ZnEq
Drill Hole WCS051
30.7m @ 289 g/t AgEq or 8.95% ZnEq
Drill Hole WCS049
44.2m @ 221 g/t AgEq or 6.85% ZnEq
Drill Hole WCS050
Drill Hole WCS047 65.8m @ 755 g/t AgEq or 23.37% ZnEq
24.5m @ 971 g/t AgEq or 30.06% ZnEq
Drill Hole WCS045 Drill Hole WCS052A
116.1m @ 721 g/t AgEq or 22.33% ZnEq 149.2m @ 455 g/t AgEq or 14.09% ZnEq
Drill Hole WCS064 ?
27.7m @ 407 g/t AgEq or 12.60% ZnEq
Drill Hole WCS064
27.7m @ 633 g/t AgEq
Drill Hole WCS052B ?
40.2m @ 466 g/t AgEq or 14.41% ZnEq ?
Legend
AgEq g/t
0 to 10
10 to 100100 to 300 ? ?
300 to 500
500 to 711
>711
?
Drill Hole WCS065
33.2m @ 332 g/t AgEq or 10.26% ZnEq
300m depth
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High-grade core from Tangoa West

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2
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Drill hole WCS064: 0.7m @ 1,896 g/t AgEq or 58.68% ZnEq (from 222.4m) within: 27.7m @ 407 g/t AgEq or 12.06% ZnEq (from 203.3m)

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

Sphalerite (Zn,Fe)S)
Burgundy colour = low iron
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----- Start of picture text -----

Plan View
N
300 metres ?
vertical depth
Drill Hole WCS052A Drill Hole WCS052B
149.2m @ 455 g/t AgEq or 14.09% ZnEq ? 40.2m @ 466 g/t AgEq or 14.41% ZnEq
?
Drill Hole WCS020 ?
Drill Hole WCS065
31.0m @ 192 g/t AgEq or 5.95% ZnEq
33.2m @ 332 g/t AgEq or 10.26% ZnEq
?
Drill Hole WCS064
27.7m @ 407 g/t AgEq or 12.60% ZnEq
Drill Hole WCS051
30.7m @ 289 g/t AgEq or 8.95% ZnEq
Drill Hole WCS045
116.1m @ 721 g/t AgEq or 22.33% ZnEq LegendAgEq g/t
0 to 10
10 to 100
100 to 300
300 to 500
Drill Hole WCS050 500 to 711
65.8m @ 755 g/t AgEq or 23.37% ZnEq >711
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Lode Resources Ltd | February 2025 27

5 Other Lode Resources Antimony and Precious Metals Projects Uralla Gold Project – Dominant Position In A Significant Goldfield

• ➢ The Uralla goldfield was one of the earlier goldfields discovered in NSW and a significant gold producer in the 1850’s. LDR’s holdings cover over 300 sqkm’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/SIR2007-5289A.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

• ➢ Preliminary drill results show significant gold intercepts, highlighting the Project’s potential.

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Hole No.	From	To	Interval	Gold	Target		Major N-S Structure “Bonanza” Dyke Main Area of Interest Hudsons Prospect Group LDR controls 302 sq kms McCrossins Prospect Group
	(m)	(m)	(m)	(g/t)
SGRDD002	15.0	41.0	26.0	2.80	Martin Shaft
incl.	24.0	38.0	14.0	4.82
SGRDD004	52.0	70.0	18.0	3.51	Martin Shaft
incl.	57.0	64.0	7.0	7.47
SGRDD014	16.0	36.0	20.0	2.33	Martin Shaft
incl.	21.0	29.0	8.0	5.40
SGRDD008	73.0	97.0	24.0	1.88	Martin Shaft
incl.	73.5	92.0	18.5	2.41
SGRDD010	78.0	113.0	35.0	1.10	Martin Shaft
incl.	84.0	89.0	5.0	3.29
SGRRC004	4.0	28.0	24.0	1.60	Martin Shaft
incl.	13.0	23.0	10.0	3.00
KTN010	12.0	27.0	15.0	2.09	Dyke
incl.	15.0	22.0	7.0	3.65
incl.	15.0	19.0	4.0	4.18
SGRRC017	76.0	102.0	26.0	1.20	Martin Shaft
Hole No.	From	To	Interval	Gold	Target
	(m)	(m)	(m)	(g/t)
SGRRC003	25.0	54.0	29.0	1.21	Martin Shaft
incl.	39.0	45.0	6.0	2.90
SGRDD003	29.0	62.0	33.0	0.91	Martin Shaft
incl.	37.0	44.0	7.0	2.83
SGRRC001	0.0	27.0	27.1	1.06	Martin Shaft
incl.	15.0	24.0	9.0	2.41
SGRRC006	35.0	52.0	17.0	1.61	Martin Shaft
incl.	37.0	44.0	7.0	3.54
SGRRC035	90.0	112.0	22.0	1.15	Martin Shaft
SGRRC005	23.0	38.0	15.0	1.60	Martin Shaft
incl.	25.0	32.0	7.0	3.13
SGRRC011	46.0	64.0	18.0	0.95	Martin Shaft
incl.	57.0	63.0	6.0	2.23
SGRRC036	82.0	90.0	8.0	2.20	Martin Shaft
KTN007	68.0	82.0	14.0	1.24	Gum Tree
incl.	73.0	75.0	2.0	2.04
and	77.0	80.0	3.0	2.21
KTN007	96.0	100.0	4.0	0.76

5 Other Lode Resources Antimony and Precious Metals Projects Uralla Gold Project - Multiple Walk-up Drill Targets at Hudsons Prospect Group

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Gumtree Prospect

KTN007: 14.0m @ 1.24 g/t Au from 68m KTN005: 10.0m @ 1.32g/t Au from 9m KTN006: 16.0m @ 0.79g/t Au from 10m

Dyke/Gracie Prospects KTN010: 15.0m @ 2.09g/t Au from 12m KTN011: 5.0m @ 1.04 g/t Au from 16m KTN012: 6.0m @ 0.75g/t Au from 39m

Circular feature potentially representing an intrusive stock at depth

Martins Shaft Prospect (intercepts > 24 g.m) SGRDD002: 26.0m @ 2.80 g/t Au from 15.0m SGRDD004: 18.0m @ 3.51 g/t Au from 52.0m SGRDD014: 20.0m @ 2.33 g/t Au from 16.0m SGRDD008: 24.0m @ 1.88 g/t Au from 73.0m SGRDD010: 35.0m @ 1.10 g/t Au from 78.0m SGRRC004: 24.0m @ 1.60 g/t Au from 4.0m SGRRC017: 26.0m @ 1.20 g/t Au from 76.0m SGRRC003: 29.0m @ 1.21 g/t Au from 25.0m SGRRC003: 33.0m @ 0.91 g/t Au from 29.0m SGRRC001: 27.1m @ 1.06 g/t Au from 0.0m SGRRC006: 17.0m @ 1.61 g/t Au from 35.0m SGRRC035: 22.0m @ 1.15 g/t Au from 90.0m SGRRC005: 15.0m @ 1.60 g/t Au from 23.0m

Lode Resources Ltd | February 2025 29

6

Conclusions and Next Steps

Focus on Tasmania and the New England Fold Belt – highly prospective but very unexplored

100% ownership of high-grade Australian antimony and precious metals projects

Next Steps

• ➢ Further metallurgical test work from existing stockpile to enhance recoveries of Antimony and Silver-Lead Concentrate

• ➢ Investigate DSO potential

Portfolio of strategic antimony prospects – including New England Fold Belt Antimony projects and the recent acquisition of the privately-owned Montezuma Antimony Project in Tasmania

Lode intends to progress Montezuma as one of Australia’s highest-grade antimony deposits

Webbs Consol Silver - multiple high-grade silver-zinc intercepts

Uralla Gold – multiple high-grade gold intercepts

Board and Management are highly experienced in exploration and equity markets

• ➢ Re-assay all 12 drill holes at Montezuma – aim to achieve JORC compliance

• ➢ Mapping Montezuma area and determining optimal drill positions

• ➢ Complete exploration drive at Montezuma

• ➢ Map and select drill positions for Magwood Antimony mine - has zero drilling to date

• ➢ Conclude current Webbs Silver drilling program

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Lode Resources Ltd | February 2025 30
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Lode Resources Ltd

Level 5, 1 Margaret Street, Sydney, NSW, 2000 info@loderesources.com.au

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