Updated Investor Presentation
Released
Released
Announcement PDF
ASX: LDR | AUGUST 2026
Advancing Montezuma
A High-Grade Australian Critical Minerals Project
• Montezuma flagship development project
• High-grade portfolio provides additional growth optionality
• Fully Funded to advance near-term exploration and development milestones
Silver | Zinc | Copper | Antimony | Tin | Gold
Tier-1 Australian Jurisdictions: Tasmania & New South Wales
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.
Disclaimer, Competent Person's Statements & Reference Announcements
COMPLIANCE
Lode Resources Ltd | ASX: LDR | August 2026 2
EQUIVALENT GRADES USED FOR
MONTEZUMA SILVER & ANTIMONY
PROJECT 1&2
1. LDR is reporting both Silver & Antimony equivalent
grade figures due to interchanging dominance of these two
metals from intercept to intercept. Metal equivalent grade
figures are a method of demonstrating overall metal
endowment for all significant metals’ grades in a single
grade figure for each intercept and thus allowing a simpler
comparison between intercepts. Montezuma’s reported
Silver & Antimony equivalent figures are based on
conversion factors as follows: SbEq(%) = Sb(%) +
0.0028*Ag(g/t) + 0.056*Pb(%) + 0.255*Cu(%) and AgEq(g/t)
= Ag(g/t) + 357*Sb(%) + 20*Pb(%) + 91*Cu(%). Metal
equivalent conversion factors were calculated using 30
December 2024 metal prices of US$34,747/t antimony,
US$29.1/oz silver, US$1,912/t lead and US$8,705/t copper.
The antimony price was calculated as an average of several
antimony products in a number of markets. Metal
equivalent conversion factors were calculated using a
preliminary flotation test carried out by ALS Metallurgy
(Burnie) in March 2026, where recoveries achieved were
88.4% antimony, 93.0% silver, 88.4% lead and 91.5%
copper. It is Lode’s opinion that all the elements included in
the metal equivalents calculation have a reasonable
potential to be recovered and sold.
2. Tin and Gold assay figures are not included in equivalent
figures as gold was not assayed in an early flotation test.
COMPETENT PERSON’S STATEMENT
The information in this Report that relates to Exploration
Results for LDR’s NSW projects is based on information
compiled by Mr Mitch Tarrant, 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 LDR’s NSW projects. Mr Tarrant, who is an
independent consultant geologist and project manager for
LDR, 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 consents
to the inclusion in this Report of the matters based on the
information in the form and context in which it appears.
The information in this Report that relates to Exploration
Results for LDR’s Tasmanian projects is based on
information compiled by Mr Tim Callaghan, 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 LDR’s Tasmanian
projects. Mr Callaghan, who is an independent consultant
geologist, has sufficient experience which is relevant to the
styles of mineralisation and type of deposits 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 Callaghan consents to the inclusion in this
announcement of the matters based on the information in
the form and context in which it appears.
KEY REFERENCE ANNOUNCEMENTS
14 April 2026 — Maiden Resource High Grade Silver
Antimony System Montezuma
17 April 2026 — $4.5 Million Equity Capital Raising To
Complete Montezuma PFS And Unlock Multi-Asset Value
Pipeline
2 June 2026 — New Silver-Zinc Mineralisation System
Discovery At Montezuma
21 July 2026 — Tasmania Exploration Update - Montezuma
Drilling Recommences
10 July 2026 — Ongoing RC Drilling Confirms Broad Gold
Mineralisation At Uralla Gold Project, NSW
31 July 2026 — Quarterly Activities Report for the quarter
ended 30 June 2026
20 August 2026 - New silver-zinc and silver-antimony
Mineralisation at Montezuma
High-grade Maiden Resource
Establishes Montezuma as
The Flagship
• 480kt @ 533g/t AgEq for
8.2Moz AgEq, With 65% In The
Indicated Category at a 200g/t
AgEq Cut-off.
• Montezuma Is Lode’s Most
Advanced And Material Asset &
Clear Priority Target For
Development Activity And
Capital Allocation.
Investment Highlights - Montezuma First, Portfolio Upside
INVESTMENT CASE
Multiple Pathways to Grow
The Montezuma Resource
• The Existing Resource Remains
Open, With Drilling Extensions
Open In All Directions.
• Recent Drilling Intersected: 6.40m
@ 6.2% Zn, 1.5% Pb, 43g/t Ag,
0.1% Sb & 0.1g/t Au.
• Recent Discovery Of Parallel Lodes
(Currently Waiting Assays)
Fully Funded to Advance
Milestones
• $4.5m Institutional And
Sophisticated Investor
Placement (April 2026)
• Use Of Funds Includes Advancing
Montezuma's Scoping Study And
Progression Toward PFS.
• Cash At 30 June 2026: ~$3.78m,
Expected Inflows Including $750k
From The Webbs Consol Sale
(Nov 2026), $306k R&D Tax
Offset And $95k Director
Participation.
Strong Portfolio Optionality
Beyond Montezuma
• New England Antimony (NSW)
Rock Abbey RC Drilling Returned
Up To 2.0m @ 3.15% Sb (Incl.
6.18% Sb Over 1.0m), Widening
The Target Inventory.
• Silver Hills, (Tas) Up to
9,370g/tAg, 25.3%Zn, 8.5%Sb At
Silver Cliffs; Drilling Permits
Received. Access and drill pads
established
• Granville & North Valley Tin
(Tas) Up To 3.64% Sn At North
Valley Further Commodity And
Discovery Exposure, Funded
Selectively.
Montezuma, drill hole 43 core
MARKET DATA
FUNDING & BALANCE SHEET STRENGTH
Funding Directed to Priority Catalysts
• $4.5m institutional placement completed April 2026
• ~$3.8m cash at 30 June 2026
• +$95k Director participation approved
• Capital allocated toward: Montezuma drilling and resource growth
• Metallurgical and development studies
• Progression through Scoping and toward PFS
Webbs Consol: Capital Recycling in Action
• Non-core asset monetised while retaining upside exposure — freeing capital
to prioritise Montezuma.
• $750k - Deferred sale proceeds expected November 2026
• 115m RCM shares - Retained listed equity exposure
• 2.0% NSR - Royalties retained over Webbs Consol and Webbs silver deposits
• $306k - Received R&D tax offset
SHARE PRICE (A$/SH)
Major Shareholders
Board & Management 22%
SG Hiscock & Company 7.4%
Technical Investing 3%
22%
Directors &
management
78%
Free Float
Top 100
shareholders
own 85%
BOARD & MANAGEMENT OWN 25%
— Strong alignment with shareholders
Share Price (updated 20 Aug 2026)
Shares on Issue 202M
Market Capitalisation $22.2M
Cash as of 30 June 2026 ~$3.8M
Capital in Place to Advance the Flagship Strategy at Montezuma
CORPORATE SNAPSHOT
Lode Resources Ltd | ASX: LDR | August 2026 4
• Early stage high-grade silver–antimony
and tin exploration | Tasmania
Flagship Primary
Capital Growth
Montezuma
Silver Zinc Antimony | Tasmania
• Resource Growth · Metallurgy · Development Studies
• Primary destination for exploration capital and management focus
• 8.2Moz AgEq @533g/tAgEq maiden JORC Resource | 65% Indicated
• Fahlore & Blocks East
New England
High-Grade Antimony Antimony | NSW
• Magwood + Rock Abbey — High-Grade Antimony Discovery Platform
• Advanced selectively through drilling and target definition
Granville & North Valley
Tin | Tasmania
• Brownfield Tin asset with existing Infrastructure
• Targeted work to define the next value-creating development step
Silver Hills
Silver-Antimony | Persic + Silver Cliffs
Bundarra
Copper | NSW
• Large scale copper exploration exposure | New South Wales
A tiered capital allocation model
concentrates expenditure on Montezuma
while preserving upside from high-quality
secondary assets.
Montezuma First
— A Disciplined Portfolio Strategy
PORTFOLIO STRATEGY
Lode Resources Ltd | ASX: LDR | August 2026 5
Selective
Growth
Optionality
Flagship Project
MONTEZUMA TASMANIA
Figure 1. Drilling rig set up on planned hole MZS43 at
Montezuma
Lode Resources Ltd | ASX: LDR | August 2026 6
High-grade Mineralisation
Already Established
480kt @ 533g/t AgEq for
8.2Moz AgEq, with 65% classified
as Indicated.
Open in all directions
Why Montezuma Leads Lode’s Portfolio?
MONTEZUMA SILVER–ANTIMONY PROJECT · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 7
Brownfield Infrastructure
Advantage
Brownfield processing
infrastructure at nearby Granville,
established roads, power and a
skilled regional workforce.
Potential to support a lower-
capital development pathway,
subject to studies.
Resource Growth +
Development De-risking
Underway
Maiden JORC Resource
established, drilling underway to
test extensions and a newly
discovered adjacent silver-zinc
system, while metallurgy and
development studies progress
toward Scoping Study and PFS.
Preliminary recoveries: 93% Ag |
88% Sb | 92% Cu | 88% Pb
Tier-1 Jurisdiction
Located in Tasmania’s West
Coast Mining Province, with
established mining services,
infrastructure and operating
history.
Location: Montezuma, within Tasmania's West Coast Mining Province
LOCATION West Coast Tasmania, ~14km from Zeehan
OWNERSHIP 100% Lode Resources
COMMODITY Silver-Zinc/Antimony, with Copper, Lead, and Gold/Tin upside
RESOURCE
Maiden JORC (2012) MRE: 480kt @ 533g/t AgEq for 8.2Moz AgEq
(200g/t AgEq cut-off). Resource Expansion drilling underway.
RESOURCE CONFIDENCE
65% classified as Indicated. District-scale potential with high-grade
results from Fahlore and Blocks East.
INFRASTRUCTURE
Granville brownfield processing site nearby; established roads,
power & regional services
DRILLING STATUS Active — hanging wall and Fahlore drilling underway
Project Snapshot
MONTEZUMA SILVER–ANTIMONY PROJECT · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 8
EXTENDING THE CURRENT RESOURCE
Hanging-wall drilling is testing extensions to the
8.2Moz AgEq@533g/tAgEq Montezuma resource,
parallel structures and open mineralisation along
strike and down dip.
NEW SILVER-ZINC GROWTH FRONT
MZS42 intersected 6.40m @ 6.2% Zn, 1.5% Pb and
43g/t Ag in a newly recognised replacement-style
system adjacent to the current resource.
GREATER MONTEZUMA — FAHLORE
Drilling a second high-grade target ~4km from
Montezuma, where historic grab samples returned
up to 2,480g/t Ag, 2.35% Sb and 3.19% Cu.
NEAR-TERM CATALYSTS
Assays from current drilling programs will inform
resource-growth decisions and ongoing Scoping
Study inputs.
Multi-Target Drilling Tests the Existing
Resource and New Silver-Zinc Discovery
MONTEZUMA SILVER–ANTIMONY PROJECT · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 9
Isometric view showing newly
discovered silver & zinc
replacement mineralisation
situated adjacent to the
Montezuma Silver & Antimony
Project Lodes
Montezuma Silver & Antimony
Project − Main Lode Long Section
showing metal endowment
(AgEq 1 x meters)
Granville processing site — approx. 30km from Montezuma
NEARBY EXISTING INFRASTRUCTURE
Granville, approximately 30km from Montezuma,
includes grid power, processing-related
equipment, raw water and tailings infrastructure.
ESTABLISHED MINING REGION
West Coast Tasmania offers existing roads, mining
services and an experienced regional workforce.
POTENTIAL CAPITAL EFFICIENCY
Brownfield infrastructure may lower new-build costs
and support a simpler Montezuma development
pathway, subject to studies.
Brownfield Infrastructure Provides
Potential Development Advantages
MONTEZUMA SILVER–ANTIMONY PROJECT · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 10
Photo of Tailings Dam
Granville East Open Pit
Mine
Magnetite-Tin skarn
deposit
Resource
Maiden JORC MRE
delivered 8.2Moz AgEq
maiden JORC MRE
established.
Extensional drilling
underway.
COMPLETE
Metallurgy
Strong preliminary
recoveries confirmed
ONGOING
Scoping Study
Development options
and economics under
assessment
Advancing, incl. tin &
gold recovery testwork
UNDERWAY
PFS
Pre-Feasibility Study -
Next major technical and
economic de-risking
milestone
NEXT
Development Decision
Subject to positive study
outcomes
FUTURE
STRONG PRELIMINARY METALLURGY
93.0% Ag | 88.4% Sb | 91.5% Cu | 88.4% Pb recoveries.
Montezuma is Progressing Through Key Development Milestones
MONTEZUMA SILVER–ANTIMONY PROJECT · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 11
ONGOING OPTIMISATION
Further flotation and leaching test work is assessing gold and tin recovery and project mineralogy
to support the Scoping Study and future development decisions. Resource extensional drilling
continues in parallel, with results able to inform future resource updates and development studies.
Metallurgical testwork on silver-zinc mineralisation has commenced
New England Antimony
Magwood, NSW
Rock Abbey, NSW
Bundarra Copper, NSW (Sandon)
NSW PROJECTS
Lode Resources Ltd | ASX: LDR | August 2026 12
Copper & Silver Antimony & Gold
Gold
Gold Gold
Lode's EL9662 &
EL9319 — Magwood
and Rock Abbey, ~8km
apart on a shared
regional structure
MAGWOOD
• Located ~35km northeast of Hillgrove, encompassing the historic
Magwood Mine and Rock Abbey Gold–Antimony Prospect.
• Drilling confirms high-grade stibnite mineralisation up to 31% Sb,
including 9.92% Sb over 4.8m (incl. 19.61% Sb over 2.4m)
• Provides geological validation and an anchor for the broader
district silver-antimony strategy
ROCK ABBEY — EVIDENCE OF REGIONAL UPSIDE
• Located ~8km from Magwood on the same interpreted regional
structure
• Rock Abbey first-pass RC drilling returned up to 3.15% Sb (incl.
1.0m @ 6.18% Sb), over a 16-hole, 1,009m program —further
expanding the district-scale potential.
A Second High-Grade Antimony
Growth Platform in NSW
NEW ENGLAND ANTIMONY PROJECT · NEW SOUTH WALES
Lode Resources Ltd | ASX: LDR | August 2026 13
Plan view of first
pass RC drill results
at the Rock Abby
Antimony prospect
EXPLORATION
• Two high-potential VMS targets, Bundarra
Copper and Abington Base Metals.
• Extensive historic exploration reduces
early-stage work.
• Supported by stream/soil sampling,
mapping, gravity, and magnetics.
High-Potential Copper-Zinc Prospect
BUNDARRA COPPER
Lode Resources Ltd | ASX: LDR | August 2026 14
Bundarra Copper
Prospect
Abington Silver
Prospect
Located 5 km south and 20 km southeast of Bundarra, New
South Wales, covering 758 km² in a prospective VMS district.
Silver Hills
Granville & North Valley
TASMANIA PROJECTS
Lode Resources Ltd | ASX: LDR | August 2026 15
Tasmania Project Locations adjacent to core
infrastructure and shares regional geological
knowledge with Montezuma & Granville.
• Surrounds the historic Mt Bischoff tin
mine within Tasmania's West Coast
mining district
• High-grade tin discovered at the North
Valley Lodes prospect — up to 3.64%
Sn, top 7 samples averaging 1.43% Sn
• Access road completed to the Silver
Cliffs and Persic silver–antimony
prospect; drilling permits received
• Next catalyst: maiden drilling program
Silver–Antimony & Tin Exploration Pipeline
SILVER HILLS · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 16
Silver Cliffs mine workings
and dump assays
HISTORIC TIN DISTRICT, HIGH-VALUE OPTIONALITY
Tin-magnetite skarn mineralisation associated with the
Heemskirk Granite, historically mined at the Granville
East open pit.
CURRENT EXPLORATION
A SAM geophysical survey has identified a significant
conductor at Granville East; drilling is anticipated once
results are interpreted and targets confirmed — the next
catalyst for the project.
EXISTING PROCESSING FOOTPRINT
Connection to grid power, ball mill, gravity tables, spirals,
tankage, raw water and a tailings dam already in place.
WHAT SUCCESS COULD MEAN
A positive drilling outcome would add a standalone tin
value stream alongside Granville's role as regional
infrastructure for the broader Tasmanian strategy.
Granville & North Valley Provide
Strategic Infrastructure and Tin Upside
GRANVILLE & NORTH VALLEY TIN PROJECT · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 17
Granville East pit SAM Survey
North Valley Lodes mine
workings and dump assays
NEAR-TERM DEVELOPMENT CORPORATE / MARKET
Milestones reflect programs and studies management has disclosed to the market as at August 2026 and are subject to normal exploration, permitting and market risks.
Primary value creation is expected to come from Montezuma
resource growth and development de-risking, with secondary
projects providing additional discovery optionality.
MONTEZUMA DRILLING RESULTS
Results from resource-extension, hanging-wall
and new silver-zinc targets
FAHLORE FIRST DRILL RESULTS
Testing high-grade historical mineralisation
across greater Montezuma
METALLURGICAL RESULTS
Further silver-zinc-antimony optimisation plus
gold and tin recovery assessment
6-12 Month Catalyst Roadmap:
Montezuma Leads the Newsflow
VALUE CATALYSTS
Lode Resources Ltd | ASX: LDR | August 2026 18
PROGRESSION TOWARD PFS
Next major technical and economic de-risking
step, subject to Scoping Study outcomes
SELECTIVE PORTFOLIO CATALYSTS
New England Copper & Antimony, Silver Hills,
Granville advanced according to results and
capital priorities
RESOURCE GROWTH ASSESSMENT
Evaluate current drilling for potential
expansion beyond the maiden 8.2Moz AgEq1
MRE
FURTHER RESOURCE GROWTH
Follow-up drilling across successful
Montezuma and silver-zinc targets
MONTEZUMA SCOPING STUDY
Assess development configuration, processing
pathway and project economics
LODE RESOURCES LTD
Suite 506, Level 5, 50 Clarence St,
Sydney NSW 2000
info@loderesources.com
Contact IR & Media Contact
Pia Lehman
Pia@taumedia.com.au
Lode Resources Ltd | ASX: LDR | August 2026 19
Experienced Team Driving Project Development
OUR TEAM
Lode Resources Ltd | ASX: LDR | August 2026 20
ANDREW VAN HEYST
Executive Chairman
Institutional equities and corporate advisory
specialist with 30+ years’ experience in global
capital markets. Former Head of Australian Sales
at Merrill Lynch and senior roles at ABN AMRO
New York, and most recently Executive Director at
Bridge Street Capital Partners advising small-cap
resource companies.
Resources executive and geologist with 30+ years’
experience advancing ASX-listed companies from
exploration to development. Former resources
analyst with expertise in exploration strategy,
project generation and capital markets.
Resources executive with 30+ years across
exploration, operations and development with
North Ltd, Newmont, Rio Tinto and Oxiana.
Former COO of KGL Resources and Altura Mining;
led discovery of the world-class Pilgangoora
lithium deposit.
TED LESCHKE
Exec Director Exploration
KEITH MAYES
Managing Director
Mining executive with 30+ years across
exploration, development and operations in
Australia and Southeast Asia. Former CEO of
Atlantic Tin and Merdeka Copper Gold (IDX:MDKA),
led growth across gold, copper and nickel assets.
SIMON MILROY
Non-Exec Director
Mining professional with 20+ years in
underground and surface operations, specialising
in execution and operational management. Third-
generation West Coast Tasmanian miner;
experience includes the redevelopment of the
Renison tin mine.
STEVE MCDERMOTT
Tasmania Operations Manager
MITCHELL TARRANT
Consulting Geologist
Geologist with 12+ years of experience across
exploration and mining, including key roles at Red
River Resources, Hillgrove Mines, and Crocodile
Gold. An AusIMM member holding a statutory
Mining Engineering Manager Certificate with
expertise in geological mapping and project
management.
APPENDIX
Technical Detail for Analysts & Specialist Investors
JORC resource detail · drilling results · tenement schedule · Competent Person's statements & references
Lode Resources Ltd | ASX: LDR | August 2026 21
Montezuma Maiden JORC (2012)
Mineral Resource Estimate
APPENDIX · MONTEZUMA SILVER–ANTIMONY PROJECT
• Defined mineralisation to ~250m depth and ~300m strike, open in
multiple directions
• High-grade, structurally controlled mineral system
• Resource remains open along strike and down dip
• Assays pending – potential for further expansion
• Additional upside from gold and tin not yet included in AgEq1
KEY HIGHLIGHTS
• 480kt @ 533 g/t AgEq1 for 8.2Moz AgEq1
• 65% Indicated Resource
• 200 g/t AgEq1 cut-off demonstrating strong underground
mining potential
• Defined by 59 diamond drill holes (8,446m), includes 37
resource holes from current program
TABLE 1. MONTEZUMA INDICATED AND INFERRED MINERAL RESOURCE ESTIMATE AgEq1 > 200g/t AgEq1
High-grade Silver–Antimony System with
Clear Pathway to Scale at Montezuma
Classification K Tonnes Ag g/t Au ppm Cu % Pb % Sb % Sn % S % As % AgEq1
g/t
Indicated Resource 310 172 0.63 0.58 1.98 1.01 0.53 13.7 2.9 621
Inferred Resource 170 173 0.57 0.7 1.35 0.31 0.31 18.9 3.6 375
Total 480 173 0.61 0.62 1.75 0.76 0.45 15.6 3.2 533
Lode Resources Ltd | ASX: LDR | August 2026 22
MZS42 SILVER–ZINC DISCOVERY INTERCEPTS
Hole Interval Grade
MZS42 267.0–273.4m (6.40m) 6.2% Zn, 1.5% Pb, 0.1% Sb, 43g/t Ag, 0.1g/t Au
MZS42 590.5–593.7m (3.2m) 32g/t Ag, 0.5% Cu, 0.2g/t Au
MZS41 — (2.0m) 2.3% Zn, 7g/t Ag, 0.1% Pb
MZS41 — (5.0m) 13g/t Ag, 0.3% Cu, 0.1% Zn, 0.1% Pb
MZP244 — (2.0m) 91g/t Ag, 1.0% Zn, 2.3% Pb
Discovery interpreted as replacement-style
mineralisation in the Maestries dolomitic
conglomerate, geologically analogous to Renison
and Mt Bischoff tin deposits; the full dolomitic unit
(~40m width) is considered a drill target at depth.
FAHLORE MINE DUMP ASSAYS (HISTORIC GRAB SAMPLES)
Ag (g/t) Sb (%) Cu (%)
2,480 2.35 3.19
2,060 2.30 3.12
1,610 1.01 0.83
670 1.65 3.73
631 1.27 0.86
554 0.17 1.29
466 0.52 0.71
Grab sampling is selective in nature; results are
qualitative rather than quantitative and not
necessarily representative of underlying
mineralisation, which may be higher or lower in
grade. Fahlore workings extend over a 350m N–S
strike, ~4km south of Montezuma; the first of three
planned holes is now nearing completion.
Silver–Zinc Discovery & Fahlore Historic Sampling — Detail
APPENDIX · MONTEZUMA SILVER–ANTIMONY PROJECT
Lode Resources Ltd | ASX: LDR | August 2026 23
ROCK ABBEY — FIRST-PASS RC DRILLING (16 HOLES, 1,009M)
Hole From–To (m) Interval Sb % Au g/t
RKA003 32.0–34.0 2.0m 1.31 (incl. 1.0m @ 2.22) 0.34
RKA005 39.0–41.0 2.0m 0.30 0.03
RKA014 49.0–51.0 2.0m 0.96 0.05
RKA015 59.0–61.0 2.0m 3.15 (incl. 1.0m @ 6.18) 0.13
RKA016 71.0–72.0 1.0m 0.19 0.02
MAGWOOD — SELECTED HISTORIC DRILL HIGHLIGHTS
Hole From–To (m) Interval Sb %
MAG010 81.5–86.3 4.8m 9.92 (incl. 2.4m @ 19.61; incl. 1.3m @ 28.57)
MAG010 103.0–106.0 3.0m 1.96 (incl. 0.3m @ 16.60)
MAG008 66.5–66.7 0.2m 19.20
MAG004 41.5–41.6 0.1m 9.65
GEOLOGICAL SETTING
Stibnite (Sb₂S₃) mineralisation is hosted in fault breccia lodes
surrounded by a distinct silica/sericite alteration halo. Rock
Abbey and Magwood are believed to occur on the same
regional structure, striking WSW–ENE over a potential 20km
within EL9662.
SOIL SAMPLING — WIDENING THE TARGET
INVENTORY
Over 1,200 soil samples collected across both prospects have
revealed large, coherent antimony anomalies: an 850m-strike
anomaly NW of Magwood (incl. gold in quartz breccia float
up to 3.34g/t Au) and a 1,000m combined strike anomaly at
Rock Abbey.
COMMERCIAL READ-THROUGH
If Rock Abbey replicates Magwood's depth profile (workings
to 300m depth), the shallow intercepts reported to date may
represent only the uppermost expression of a substantially
larger mineralised system. Deeper drilling below the 40m
first-pass depth is warranted.
Magwood & Rock Abbey — Drill Result Detail
APPENDIX · NEW ENGLAND ANTIMONY PROJECT
Lode Resources Ltd | ASX: LDR | August 2026 24
SELECTED FOLLOW-UP RC DRILL RESULTS
(OF 22 NEW INTERCEPTS — 10 JULY 2026)
Uralla — Recent Drill Results & Geological Model
APPENDIX · URALLA GOLD PROJECT
Lode Resources Ltd | ASX: LDR | August 2026 25
Hole
From–To
(m)
Interv
al
Au g/t
KTN018 24.0–33.0 9.0m 1.00 (incl. 2.0m @ 1.92)
KTN023 26.0–32.0 6.0m 1.22 (incl. 3.0m @ 2.11)
KTN021 27.0–37.0 10.0m 0.57 (incl. 5.0m @ 1.00)
KTN025 16.0–20.0 4.0m 1.51 (incl. 2.0m @ 2.53)
KTN027A 30.0–32.0 2.0m 3.35
KTN031A 20.0–25.0 5.0m 1.02
KTN026A 58.0–64.0 6.0m 0.72 (incl. 1.0m @ 3.19)
KTN017B 46.0–50.0 4.0m 0.90 (incl. 2.0m @ 1.55)
KTN036 7.0–18.0 11.0m 0.31 (incl. 4.0m @ 0.57)
Full 22-intercept list reported in LDR ASX announcement 10 July 2026, ‘Ongoing RC Drilling Confirms
Broad Gold Mineralisation Across Multiple Prospects At The Uralla Gold Project, NSW’.
IRGS GEOLOGICAL MODEL
Uralla mineralisation is interpreted as an Intrusive
Related Gold System (IRGS) — broad, disseminated
gold in breccias and stockworks hosted in and around
intrusive bodies, a style associated with sizeable,
economic-scale gold deposits globally.
STRUCTURAL CONTROLS
Intercepts cluster around the Dyke Lode, Little Dyke
Lode and Red Gum Lode prospects, with a ~400m x
350m circular geophysical feature interpreted as a
potential intrusive stock at depth — a possible source
of the gold mineralisation.
SILVER HILLS — NORTH VALLEY LODES DUMP ASSAYS
Sample No. Sn %
MR0067 3.64
MR0069 2.63
MR0064 1.29
MR0065 0.89
MR0073 0.71
MR0068 0.44
MR0070 0.42
Top 7 samples from historical
dump workings average 1.43%
Sn over a 500m+ strike. Grab
sampling is qualitative and
indicative only. North Valley
Lodes may augment the
nearby Granville Tin Project.
GRANVILLE — GEOLOGICAL SETTING
Covers the southern Arthur Lineament and the aureole of the
Heemskirk Granite, a prolific mineralising intrusion associated with tin,
tungsten, magnetite and silver–lead deposits regionally, including the
Granville East skarn and the historic Globe Silver mine. A Sub Audio
Magnetic (SAM) survey centred on Granville East identified a
significant conductor, potentially reflecting a fault zone or conductive
graphitic/sulphidic units; drilling will follow target confirmation.
Silver Hills Project - North Valley Lodes tin dump sample assays
Silver Hills & Granville Technical Detail
APPENDIX · SILVER HILLS & GRANVILLE · TASMANIA
Lode Resources Ltd | ASX: LDR | August 2026 26
Project Tenement Type Area (km²) Interest
Uralla EL8980 Exploration 237 100%
Uralla West EL9087 Exploration 65 100%
Fender EL9003 Exploration 224 100%
Tea Tree EL9084 Exploration 71 100%
Thor EL9085 Exploration 231 100%
Sandon EL9319 Exploration 809 100%
New England EL9662 Exploration 1,105 100%
Montezuma 2M-2023 Mining 0.05 100%
Montezuma EL7-2019 Exploration 4 100%
Montezuma EL2-2020 Exploration 84 100%
Silver Hills EL6/2025 Exploration 71 100%
Granville 2M-2018 Mining 0.78 100%
Granville 32M-1988 Mining 0.01 100%
Granville* EL9-2019 Exploration 91 100%
*Under renewal. Total landholding approximately 3,200km² across Tasmania and NSW. Source: LDR Quarterly Activities Report for the quarter ended 30 June 2026.
Tenement Schedule — as at 30 June 2026
APPENDIX · CORPORATE
Lode Resources Ltd | ASX: LDR | August 2026 27
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