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Lodge Resources Inc. Signs Letter of Intent for Acquisition and Proceeds with Private Placement

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 26, 2019) - Lodge Resources Inc. (CSE: LDG) ("Lodge" or the "Company") announces that it today has signed a non-binding letter of intent to acquire a BC company (the "Target") which has certain interests in the Lehmi Gold Property in Idaho, USA. Terms of the transaction include certain financings and acquisition of the Target by a share for share exchange issuance of approximately 30 million shares of Lodge. The acquisition is subject to completion of a definitive agreement, regulatory and other required approvals, completion of the financings and other customary conditions.

The Company is conducting a non-brokered private placement of 6,000,000 shares at $0.20 with proceeds to be utilized in connection with the acquisition of the Target.

About the Company:

The Company is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA.

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For further information, please contact Howard Milne, Chief Executive Officer and a director of Lodge, at (604) 377-8994, email@shaw.ca

Forward Looking Statements: This press release contains "forward‐looking information or statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the date of first trading in the Company's common shares and its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's final long form prospectus dated August 19, 2019 and filed under the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50131