Lode Gold Initiates New Mineral Resource Block Model for the Fremont Gold Mine, California

(TheNewswire)

February 18, 2026 – TheNewswire- Lode Gold Resources Inc (TSX.V: LOD) (the “Company” or“Lode Gold”) is pleased to announce the initiationof a new Mineral ResourceEstimation (“MRE”) block model for itsflagship Fremont GoldProject in Mariposa, California, utilizing anew block model with over7,000 historical underground channel samples recovered fromoriginal mine level maps and plans. These samples were previouslyunavailable in digital format and significantly expand the datadensity within the historically mined areas of the deposit.

The updated block model will re-interpret the Fremont deposit as acontinuous mineralized body,rather than discrete vein-only domains, and will evaluate the resourceusing a lower cut-off grade,supported by updated underground mining cost assumptions provided bylocal contractors. This approach reflects the Company’s strategicfocus on bulk undergroundmining as outlined in recent technical and economic studies.

The inclusion of this additional dataset is expected to enhancegeological continuity, improve grade distribution confidence, andsupport the evaluation of wider mining widths consistent with a bulkunderground mining scenario.

Jonathan Hill, Director and Chair of the Technical Committee of LodeGold, commented:

“This new block model representsan important evolution in how we interpret the Fremont deposit. Bymodelling the system as a continuous mineralized body and integratingthousands of newly digitized historical channel samples, we arealigning the geological model with a bulk underground mining approachthat better reflects the scale, continuity and mining potential of thesystem.”

Next Steps

The new Mineral Resource Estimation is currently underway and will becompleted in accordance with NI43-101 standards. Further updates, including the results of therevised resource estimate, will be provided once the work has beenfinalized and reviewed by Qualified Persons.

Fremont Gold Mine (Fremont):

Fremont is an advanced exploration and early development brownfieldproject that was previously mined at 10.7 gpt. Gold production haltedin 1942 during WW II when gold mining was prohibited.

There has never been a change of use, it has been a mine since 1849,one of the first project that started the California Gold Rush (1848– 1855).

 Fremont has 7 deposits on a 4km strike on the prolific190 km MotherLode Belt – only 2 of the 7 has seen exploitation. Of the MRE 2025,only 8% has been exploited – 92% is left to be mined in the upcomingyears. It has 42,717.3 m drilled, 8,593 underground channel samples,23 km of underground workings, 20 adits 16 levels and 5 shafts. Itsits on 3351 acres of patented private land with 100% ownership ofsurface and mineral rights. It has road access, electricity and isclose to rail and airport (1.5 hours from Fresno, California).

About Lode GoldInc.

Lode Gold (TSXV: LOD | LODFF:OTCQB) is an explorationand development company with projects in highly prospective and safemining jurisdictions in Canada and the United States.  

In Canada Lode Gold holds assets in the Yukon and NewBrunswick. Lode Gold’s Yukon assets are located on the southernportion of the prolific Tombstone Belt and cover approximately 99.5km2 across a 27 km strike. Over 4,500 m have been drilled on theYukon assets with confirmed gold endowment and economic drillintercepts over 50 metres. There are four reduced-intrusive targets(RIRGS), in addition to sedimentary-hosted orogenic explorationgold.

In New Brunswick, Lode Gold, through its subsidiary1475039 B.C. Ltd., has created one of the largest land packages inthe province with its Acadian Gold Joint Venture, consisting of anarea that spans 445 km2 with a 44 km strike. It has confirmed goldendowment with mineralized rhyolites.  

In the United States, the Company is focused on itsadvanced exploration and development asset, the Fremont Mine inMariposa, California. It has a recent 2025 NI 43-101 report andcompliant MRE that can be accessed here  https://lode-gold.com/project/freemont-gold-usa/ 

Fremont was previously mined until gold miningprohibition in WWII, when its mining license was suspended. This assethas exploration upside and is open at depth (three step-out holes at1,300 metres hit structure and were mineralized) and on strike. Thisis a brownfield project with over 43,000 metres drilled, 23 kilometresof underground workings and 14 adits. The project has excellentinfrastructure with close access to electricity, water, statehighways, railhead and port.

The Company recently completed an internal scopingstudy evaluating the potential to resume operations at Fremont basedon 100% underground mining. Previously, in March 2023, the Companycompleted a Preliminary Economic Assessment (“PEA”) in accordancewith NI 43-101 which evaluated a mix of open pit and undergroundmining. The PEA and other technical reports prepared on theCompany’s properties are available on the Company’s profile onSEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com)  

QualifiedPerson

The technical information contained in this pressrelease was reviewed and approved by Gary Wong, P.Eng., Vice PresidentExploration of Lode Gold Resources Inc., designated as a QualifiedPerson under National Instrument 43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan
CEO & Director

Cautionary StatementRegarding Forward-Looking Information

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

This news release includes “forward-lookingstatements” and “forward-looking information” within the meaningof Canadian securities legislation. All statements included in thisnews release, other than statements of historical fact, areforward-looking statements including, without limitation, statementswith respect to the use of proceeds, advancement and completion ofresource calculation, feasibility studies, and exploration plans andtargets. Forward-looking statements include predictions, projectionsand forecasts and are often, but not always, identified by the use ofwords such as “anticipate”, “believe”, “plan”,“estimate”, “expect”, “potential”, “target”,“budget” and “intend” and statements that an event or result“may”, “will”, “should”, “could” or “might” occuror be achieved and other similar expressions and includes thenegatives thereof.

Forward-looking statements are based on a number ofassumptions and estimates that, while considered reasonable bymanagement based on the business and markets in which the Companyoperates, are inherently subject to significant operational, economic,and competitive uncertainties, risks and contingencies. These includeassumptions regarding, among other things: the status of communityrelations and the security situation on site; general business andeconomic conditions; the availability of additional exploration andmineral project financing; the supply and demand for, inventories of,and the level and volatility of the prices of metals; relationshipswith strategic partners; the timing and receipt of governmentalpermits and approvals; the timing and receipt of community andlandowner approvals; changes in regulations; political factors; theaccuracy of the Company’s interpretation of drill results; thegeology, grade and continuity of the Company’s mineral deposits; theavailability of equipment, skilled labour and services needed for theexploration and development of mineral properties; and currencyfluctuations.

There can be no assurance that forward-lookingstatements will prove to be accurate and actual results, and futureevents could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company’s expectations include adeterioration of security on site or actions by the local communitythat inhibits access and/or the ability to productively work on site,actual exploration results, interpretation of metallurgicalcharacteristics of the mineralization, changes in project parametersas plans continue to be refined, future metal prices, availability ofcapital and financing on acceptable terms, general economic, market orbusiness conditions, uninsured risks, regulatory changes, delays orinability to receive required approvals, business disruptions, andother exploration or other risks detailed herein and from time to timein the filings made by the Company with securities regulators,including those described under the heading “Risks andUncertainties” in the Company’s most recently filed MD&A. TheCompany does not undertake to update or revise any forward-lookingstatements, except in accordance with applicable law.

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