Lahontan Gold Advances Santa Fe Project Toward Planned 2027 Mine Restart

Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has provided an update on development and exploration activities at its Santa Fe Mine Project in Nevada, stating it remains on track to begin construction in 2027. The company expects to complete an updated mineral resource estimate within weeks and a revised preliminary economic assessment by the end of August 2026, key milestones supporting state and federal permitting.

Lahontan reported completing 87 drill holes totaling 7,751 meters this year, with the newly identified Slab West gold discovery remaining open in all directions. The company said permitting work continues to advance, including groundwater studies and waste rock characterization. Drilling is underway to evaluate the potential reprocessing of historic heap leach pads as a possible low-cost source of future gold and silver production.

Lahontan also announced shareholder approval of a new restricted share unit and deferred share unit plan designed to support the attraction and retention of key personnel. The Santa Fe Mine project, with past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995, has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq.

For more details, the full press release is available at https://ibn.fm/ohBUb. Additional information about Lahontan Gold Corp. can be found on their website at www.lahontangoldcorp.com.