Lodestar Metals Closes $1.57M Private Placement to Fund Gold Run Drilling

Why It Matters

The drill results could unlock a sizable, near‑term gold resource in a world‑class mining district, giving Lodestar a foothold next to major operators and potentially boosting its market valuation.

Key Takeaways

• Maiden 2,680‑metre drill program targets four high‑priority zones
• Historic assays show up to 27.4 g/t gold and 83 g/t silver
• Preliminary estimate suggests at least 500,000 ounces gold in tested areas
• Lodestar raised $1.57 million via private placement to fund drilling
• Gold Run lies near Barrick‑Newmont Nevada Gold Mines, accessing existing infrastructure

Pulse Analysis

Nevada remains the gold mining capital of the United States, with the Carlin trend alone delivering hundreds of millions of ounces over the past decades. Lodestar’s Gold Run property sits just 12 kilometres south of the Barrick‑Newmont Nevada Gold Mines complex, positioning it within a corridor of proven high‑grade epithermal and Carlin‑style deposits. The region’s infrastructure—roads, power, and third‑party processing—reduces capital intensity for junior explorers, making early‑stage discoveries especially valuable for investors seeking upside in a low‑cost jurisdiction.

Lodestar’s maiden drilling integrates a decade‑long legacy of 131 historic holes, 454 soil samples and 827 rock assays with modern techniques such as UAV‑derived magnetic mapping and a property‑wide DDIP geophysical survey. This data‑driven targeting has identified four drill zones, including the historically prolific Robbers Knob area where past intercepts reached 27.4 g/t gold and 83 g/t silver. The company’s preliminary model, based on these high‑grade intersections, suggests a baseline resource of at least 500,000 ounces of gold, with significant upside as deeper, epithermal and potential Carlin‑style systems are explored.

Financing the program through a $1.57 million private placement, Lodestar also secured an option to acquire Gold Run for $450,000 upfront and $2.5 million in milestone payments, with a 2.0% NSR royalty to the sellers. Trading at $0.12 per share and a market cap of roughly $6.2 million, the company stands at a valuation inflection point. Successful drill results could catalyze a NI 43‑101 resource estimate, attract larger partners, and propel Lodestar from an exploration junior to a credible gold‑producer in one of the world’s most prolific districts.

Deal Summary

Lodestar Metals Corp. announced the closing of a non‑brokered private placement of 7.85 million units at $0.20 each, raising $1.57 million in gross proceeds. The funds will support the company's maiden 2,680‑metre, 16‑hole drilling program at its Gold Run project in Nevada. The financing was reported on April 23 2026.