Lodge Resources Announces Increase in Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2020) - Lodge Resources Inc. (CSE: LDG) (FSE: 3WU) ("Lodge" or the "Company") announces that, due to added interest, it is increasing the maximum amount to be raised under its previously announced non-brokered private placement (the "Private Placement") of Units at $0.35 per Unit from $805,000 to $1,500,000. All other terms of the Private Placement remain the same as previously announced. Please see the Company's news release of April 16, 2020 for further details regarding the Private Placement. The Company may pay finder's fees to qualified finders of 8% in cash and 8% in warrants. The finder's warrants have the same terms as the warrants to be issued under the Private Placement, but are not transferable.

The Company will be closing the first tranche of the Private Placement on May 6, 2020.

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.

On Behalf of the Company
Howard Milne, Chief Executive Officer

For further information, please contact Ken Cotiamco at 604-687-7130 or ken@skanderbegcapital.com

This news release does not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Such securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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 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. 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.

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55434

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