Lode Resources Limited to provide an overview of the Company's activities for the period ended 31 December 2022 ("Quarter", "Reporting Period") to accompany the Appendix 5B. Early in the Quarter, Lode announced that the ongoing Phase II drill program at Webbs Consol resulted in a significant intercept of sulphide mineralisation in drill hole WCS031 at the Castlereagh prospect. Later in the Quarter, assays were received and drill hole WCS031 intersected 47.4 m @ 153 g/t AgEq1 extending mineralisation to 110m vertical depth.

47.4 m @ 153 g/t AgEq1 from 66.5m including; 5.5 m @ 479 g/t AgEq1 from 78.5m and; 11.0m @ 330 g/t AgEq1 from 102.0m. The WCS031 intercept is below hole WCS023 which reported 50.0m @ 314 g/t AgEq1 from 17.0m including 15.0m @ 632 g/t AgEq1 from 38.1m which in turn included 4.1m @ 958 g/t AgEq1 from 49.1m. WCS031 extends mineralisation to 110m vertical depth.

During the Reporting Period, the first drillhole at the Webbs Silver Project's Copycat prospect resulted in a significant 20.5m down hole intercept (16.0-36.5m) of sulphide mineralisation in drill hole WCS034. Sulphide distribution within this intercept ranged from disseminated to semi-massive aggregates of sphalerite and galena blebs. This was the first drill hole into the Copycat prospect which was discovered through surface mapping and sampling.

The resultant significant intercept makes Copycat the sixth sulphide lode discovered to date at the Webbs Consol Silver Project. In November, assays returned high-grade silver-lead-zinc mineralisation over a thick drill intercept at shallow depths including 1.5m @ 1,770 g/t AgEq1 within a broader intercept of 20.5m @ 302 g/t AgEq1. 20.5 m @ 302 g/t AgEq1 from 16.0m including; 8.8 m @ 559 g/t AgEq1 from 21.2m including; 1.5m @ 1,770 g/t AgEq1 also from 21.2m.

Subsequent to the Reporting Period, Lode announced that follow up drilling at the Webbs Consol Silver Project's Tangoa West Lode retuned 54.0m @ 304 g/t AgEq1 from 48.3m in drill hole WCS044. 54.0m @ 304 g/t AgEq1 from 48.3m including; 11.3m @ 497 g/t AgEq1 from 54.0m and; 7.0m @ 506 g/t AgEq1 from 81.0m including; 2.0m @ 1,005 g/t AgEq1 from 86.0m. This intercept represents the highest endowment of all drill intercepts received to date at the Webbs Consol Silver Project.

Details of this substantial intercept are summarised in Table 3 below. Drill hole WCS044 extends Tangoa West Lode mineralisation to 90m vertical depth and was drilled below the previously reported WCS019 which returned 26.7m @ 421 g/t AgEq1 from 30.1m. WCS044 drill intercept, together with the WCS045 intercepts, demonstrates strong vertical continuity of Tangoa West Lode mineralisation from surface to a vertical depth of 90m.

Follow up drill hole WCS045 has been drilled below WCS044 and to a down hole depth of 242.6m with assays results due imminently. See Figure 2.