Vancouver, British Columbia--(Newsfile Corp. - December 30, 2019) - Lodge Resources Inc. (CSE: LDG) ("Lodge" or the "Company") is pleased to announce, further to its news release of December 20, 2019, that the Company has closed a non-brokered private placement of 250,000 flow-through common shares of the Company (the "FT Shares") at $0.40 per FT Share for gross proceeds of $100,000.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on May 1, 2020.

The proceeds from the Offering will be used to fund the exploration on the Company's Comstock Property, located in the Nicola Mining District, British Columbia.

About the Company:

The Company is a mineral exploration company currently focused on the acquisition, exploration and development of the Comstock Property, located in the Nicola Mining District, British Columbia.

For further information, please visit the Company's website at www.lodgeresourcesinc.com or contact Howard Milne, CEO of Lodge, at (604) 377-8994, email hdmcap@shaw.ca.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities issued, or to be issued, under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Forward-looking Statements: Certain statements in this press release are "forward-looking statements" which reflect the Company's current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "estimates", "predicts" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere on the website at www.lodgeresourcesinc.com and in the Company's filings on SEDAR. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.