Lahontan Gold Advances Santa Fe Mine Development, Fully Funded Into 2027

Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has provided an update on development, permitting, and exploration activities at its Santa Fe Mine project in Nevada, underscoring the company's advancement toward a new mining operation. The update highlights the completion of a 2,569-meter geotechnical drill campaign, which supports mine permitting and waste rock characterization. The company is also progressing toward an updated mineral resource estimate expected in the coming weeks and has planned up to 7,000 meters of exploration drilling across multiple targets.

The significance of this update lies in the company's financial position and timeline. Lahontan Gold is fully funded into 2027 following its recent Cdn$13.6 million private placement and ongoing warrant exercises. This financial runway allows the company to remain on track to complete permitting in 2027 and advance toward construction of a new Santa Fe Mine. The Santa Fe property, covering 26.4 km², had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing.

The company's flagship property has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. Au Eq is inclusive of recovery, as detailed in the Santa Fe Project Technical Report available on the company's website and SEDAR+.

Lahontan plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101.

For more information, visit the company's website at www.lahontangoldcorp.com. The latest news and updates relating to LGCXF are available in the company's newsroom at http://nnw.fm/LGCXF.