LODE RESOURCES LTD — Regulatory Filings 2021

Jun 29, 2021

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Lode Resources Ltd Pre-Quotation Disclosure

Lode Resources Ltd (“Lode” or “the Company”) (ASX: LDR) is please provide to ASX Limited (ASX) the following confirmations to satisfy the conditions for the admission of the Company’s fully paid ordinary shares to quotation on ASX.

Capitalised terms which are not otherwise defined in this document have the meanings given to them in the prospectus lodged by LDR with the Australian Securities and Investments Commission on 13 April 2021 (Prospectus).

1. Confirmation of Close of offer

The Company confirms that the public offer (offer) under its prospectus dated 13 April 2021 as varied by a supplementary prospectus dated 6 May 2021 closed on 7 June 2021 and 25,576,000 fully paid ordinary shares were issued at $0.20 per share to raise $5,115,200.

2. Confirmation issue of options

The Company confirms granting 500,000 unquoted options to Mr Keith Mayes and 500,000 unquoted options to Mr Jason Beckon. The options have an exercise price of $0.30 and expiry on 2 July 2023.

The Company confirms that no options were granted or will be granted to the Lead Manager.

3. Transfer of Shares and Options

The Company confirms that on 28 June 2021, the following were despatched on behalf of the Company:

• (a) in relation to all holdings on the CHESS sub-register, a notice from the Company under ASX Settlement Operating Rule 8.9.1; and

• (b) in relation to all other holdings, issuer sponsored holding statements.

The Company confirms there were no oversubscriptions and no refunds were processed.

LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street Sydney NSW 2000 Australia

T +61 2 9008 1381 F +61 2 8834 0720

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4. Distribution Schedule

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5. Statement of the 20 Largest holders

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LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street T +61 2 9008 1381 Sydney NSW 2000 Australia F +61 2 8834 0720

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6. Statement of commitments

The Company confirms that it has raised $5,115,200 in accordance with the minimum subscription offer in the prospectus. The Company confirms that intends to use the proceeds as outlined on page 26 in the prospectus under the minimum subscription.

	Minimum Subscription	Minimum Subscription
Use of funds	$	%
Exploration	$2,809,200	56.18%
WorkingCapital	$1,472,800	29.46%
Costs of the Offer	$718,000	14.36%
Total	$5,000,000	100.00%

7. Mandatory Restrictions

The tables below sets out the number of securities subject to ASX mandatory restrictions and the restriction period applied to those securities.

Shares	Number of Securities	Restriction Expiry Date
Fully paid ordinary shares	40,414,900	24 months from the date of quotation
Options	Number of Securities	Restriction Expiry Date
Unlisted options	1,000,000	24 months from the date of quotation
Shares	Number of Securities	Restriction Expiry Date
Fully paid ordinary shares	3,615,000	5 January 2022

8. Exploration Tenements

The Company confirms that there are no legal, statutory or contractual impediments to the Company entering into the exploration tenements and carrying out exploration activities in respect of:

EL8933 Webbs Consol Project; EL8980 Uralla Project; EL9003 Fender Project; EL9004 Elsinore Project; EL9084 Tea Tree Project; EL9085 Thor Project; and EL9087 Uralla West Project.

The Company confirms that it will be able to spend its cash in accordance with its commitments for the purposes of Listing Rule 1.3.2(b)

LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street T +61 2 9008 1381 Sydney NSW 2000 Australia F +61 2 8834 0720

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9. Rock chip Samples

JORC Code, 2012 Edition – Table 1 – supplementary

Section 1 - Sampling Techniques and Data

This is a supplementary version of the JORC Table 1 in the IGR included in the Lode Resources Supplementary Prospectus dated 6 May 2021.

This supplementary JORC Table 1 concerns photographs of three rock samples included on pages 41, 62 and 100 of the Independent Geologist Report contained in Annexure A of the Supplementary Prospectus.

The locations of the photographed rock samples are summarised in the table below and shown in accompanying Maps 1, 2 & 3.

Page	Photo Description	Project	MGA94,	Zone 56	Map Ref.
			Easting	Northing
41	Photo 2: Webbs Consols mineralisation, sample from mine dump	Webbs Consol (EL8933)	352,465	6,736,387	Map 1
62	Photo 3: Mineralisation at Hudson’s prospect	Uralla (EL8980)	347,904	6,611,688	Map 2
100	Photo 6: Trough Gully mineralisation	Fender (EL9003)	320,604	6,549,088	Map 3

LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street T +61 2 9008 1381 Sydney NSW 2000 Australia F +61 2 8834 0720

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Map 1. Webbs Consol (EL8933)

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Location of Photo 2: Webbs
Consols mineralisation, sample
from mine dump
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LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street Sydney NSW 2000 Australia

T +61 2 9008 1381 F +61 2 8834 0720

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Map 2. Uralla (EL8980 & EL9087)

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Location of Photo 3:
Mineralisation at Hudson’s
prospect.
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LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street Sydney NSW 2000 Australia

T +61 2 9008 1381 F +61 2 8834 0720

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Map 3. Fender (EL9003)

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Location of Photo 6: Trough
Gully mineralisation
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LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street Sydney NSW 2000 Australia

T +61 2 9008 1381 F +61 2 8834 0720

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Criteria	Commentary
Sampling techniques	Photo 2 - Webbs Consols Project • The sample was a loose piece of mineralized material taken from a mine dump at the Webbs Consols mine. Photo 3 - Uralla Project • The samples consisted of two loose pieces of quartz-veined metasediments collected from mine dumps at the Hudsons prospect Photo 6 - Fender Project • The samples consisted of two loose pieces of gossanous and malachite- stained metasediments from mine dumps at Trough Gully mine.
Drilling techniques	• No drilling involved in the samples.
Drill sample recovery	• No drilling involved in the samples.
Logging	• No drilling involved in the samples.
Sub-sampling techniques and sample preparation	• No sample preparation involved.
Quality of assay data and laboratory tests	• The samples were not assayed.
Verification of sampling and assaying	• The samples were not assayed.
Location of data points	• The sample locations were recorded using a hand-held GPS unit (accuracy 5m).
Data spacing and distribution	• Not applicable. The photos were for geological reference only.
Orientation of data in relation to geological structure	• Not applicable.
Sample security	• Not applicable.
Audits or reviews	• No audits or reviews of sampling techniques undertaken.

LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street T +61 2 9008 1381 Sydney NSW 2000 Australia F +61 2 8834 0720

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Section 2 - Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	Commentary
Mineral tenement and land tenure status	• The samples were collected from EL8933 (Photo 2), EL8980 (Photo 3) and EL9003 (Photo 6).
Exploration done by other parties	• The samples were collected from mine dumps at historical workings.
Geology	• The Webbs Consols mineralisation (Photo 2) consisted of a silica-rich, fractionated, I-type leucogranite containing disseminated to semi- massive sulphides (sphalerite, galena, pyrite). • The Hudsons mineralisation (Photo 3) consisted of quartz veins hosted by metasediments. • The Trough Gully mineralisation (Photo 6) consisted of gossanous metasediments containing copper carbonate minerals.
Drill hole Information	• No drilling involved in the samples.
Data aggregation methods	• No drilling involved in the samples.
Relationship between mineralisation widths and intercept lengths	• Not applicable.
Diagrams	• Sample locations are shown on the attached maps.
Balanced reporting	• The photos were taken of samples containing visible mineralisation that are not necessarily representative of the bulk of the mineral occurrences.
Other substantive exploration data	• Not applicable.
Further work	• Not applicable.

This announcement has been approved by the Chairman of the Board, Andrew Van Heyst.

LODE RESOURCES LTD ABN 30 637 512 415

Level 30, Australia Square, 264 George Street T +61 2 9008 1381 Sydney NSW 2000 Australia F +61 2 8834 0720