Lahontan Gold Appoints Billy Choi as CFO to Steer Santa Fe Mine Restart

Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has appointed Billy Choi as its new chief financial officer, with Choi expected to assume full CFO responsibilities in October 2026 following a transition period. The appointment comes as the company advances permitting for its flagship Santa Fe Mine and aims to restart production in 2027, a milestone that could transform Lahontan from an exploration and development company into a producing gold and silver miner.

Choi most recently served as vice president of finance at Lithium Royalty Corp., where he played a key role in its initial public offering, public-company reporting, financial controls, and its subsequent acquisition by Altius Minerals. His experience in guiding a company through a major liquidity event and integrating into a larger organization could prove valuable as Lahontan seeks to finance and build the Santa Fe Mine. The company said the appointment strengthens its financial management team during a critical period of growth.

The Santa Fe Mine, located in the Walker Lane of mining-friendly Nevada, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. Lahontan holds a 26.4 km2 property that hosts 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. The company plans to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025. For more details, see the full press release at https://nnw.fm/BUdJ8.

The addition of a CFO with capital markets and public company experience is significant because Lahontan will need to secure substantial funding to restart the Santa Fe Mine. Permitting, detailed engineering, and construction are capital-intensive phases, and a CFO well-versed in financial controls and reporting can help the company access equity or debt markets on favorable terms. Choi's background in royalty financing could also be relevant, as royalty and streaming agreements are common financing tools in the mining sector. His involvement in Lithium Royalty Corp.'s IPO and subsequent acquisition by Altius Minerals demonstrates a track record of creating shareholder value through strategic transactions.

Moreover, the timing of the appointment aligns with Lahontan's goal of updating the Preliminary Economic Assessment in 2025, which will provide a fresh economic snapshot of the project and likely serve as a key document for potential investors. A strong financial team can help ensure that the PEA is credible and that the company's financial projections are robust. As permitting advances, Lahontan will also need to manage stakeholder relations and regulatory compliance, areas where a CFO's oversight of financial controls can support broader corporate governance.

With gold prices remaining historically elevated, Lahontan's progress toward production could attract increased investor attention. The company's shares trade on the TSXV under the symbol LG and on the OTCQB under LGCXF. For ongoing updates, investors can visit the company's newsroom at http://nnw.fm/LGCXF. The technical content of the news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., a Qualified Person as defined in National Instrument 43-101. Additional information is available on the company's website at www.lahontangoldcorp.com.