Lode Resources : Market Update

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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 Ltd ('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.

Reference documents used in this presentation

LDR Prospectus 14 April 2021 & LDR Supplementary Prospectus 6 May 2021

LDR announcement 30 June 2021 titled "ASX Market Release - Admission and Quotation"

LDR announcement 12 July 2021 titled "New gold mineralisation style discovered"

LDR announcement 20 July 2021 titled "Further Assays Enhance & Expand Uralla Gold Project"

LDR announcement 29 July 2021 titled "Lode Ramps Up Exploration at Uralla Gold Project"

LDR announcement 15 September 2021 titled "Drilling Commences at Webbs Consol Silver Project"

LDR announcement 5 October 2021 titled "Enhanced Drill Targets at Uralla Gold Project"

LDR announcement 19 October 2021 titled "Significant sulphides intersected at Webbs Consol"

LDR announcement 5 November 2021 titled "Lode Resources Adds New Projects To Base Metal Portfolio"

LDR announcement 17 November 2021 titled "First drill assays received for Webbs Consol Silver Project"

LDR announcement 29 November 2021 titled "Drilling Commences at Uralla Gold Project"

LDR announcement 1 December 2021 titled "Drilling Commences at Trough Gully Copper Mine"

LDR announcement 14 December 2021 titled "High metal recoveries in Webbs Consol metallurgy"

LDR announcement 14 December 2021 titled "High-grade mineralisation in Webbs Consol drilling"

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"

2 Lode Resources Ltd June 2022

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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 ASX listed Prospech Ltd, Jamieson Minerals Pty Ltd and Cipango Pty Ltd.

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).

3 Lode Resources Ltd | June 2022

Overview

Capital Structure

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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 gold, silver and copper projects
• Significant historical geochemistry and/or geophysics
• Demonstrated high grade mineralisation and/or potential for large mineral occurrences
• Under drilled 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

LDR Share Price Chart

Lode Resources Ltd | June 2022

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• New England Fold Belt (FB) most significant mining period was from 1850s up to WWI
• Estimated output at today's prices was US$7billion 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

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New England & Lachlan

Fold Belts (FB)

New England & Lachlan FB

Gold, Silver & Copper Occurrences

New England & Lachlan FB

Drill Holes