Lahontan Gold Boosts Santa Fe Gold Equivalent Resources by 22%

Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has announced an updated Mineral Resource Estimate (MRE) for its Santa Fe Mine in Nevada, revealing a significant 22% increase in project-wide pit-constrained resources compared to the 2024 MRE. The updated estimate includes 1.195 million indicated gold equivalent ounces and 1.19 million inferred gold equivalent ounces, underscoring the project's growing economic potential.

The Santa Fe deposit itself saw a more than 26% increase in resources, while the Slab and York deposits experienced a substantial 37% rise in indicated and inferred oxide resources. This growth is a key indicator of the project's viability and the effectiveness of ongoing exploration efforts. The updated MRE serves as the foundation for a forthcoming preliminary economic assessment (PEA) that will evaluate open-pit mining and heap-leach processing, as well as the potential future processing of sulfide resources. Lahontan is targeting 2027 for mine construction, signaling a clear path toward production.

The Santa Fe Mine is a past-producing asset, with historical production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open-pit operations using heap-leach processing. The project is situated in the Walker Lane of Nevada, a mining-friendly jurisdiction, and covers 26.4 square kilometers. The updated MRE reports indicated resources of 1,539,000 ounces of gold equivalent (Au Eq) from 48,393,000 tonnes grading 0.92 g/t gold and 7.18 g/t silver, and inferred resources of 411,000 ounces Au Eq from 16,760,000 tonnes grading 0.74 g/t gold and 3.25 g/t silver, all pit-constrained.

The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, an independent consulting geologist and Qualified Person under National Instrument 43-101. The updated MRE is based on assumptions including a gold price of $1,950 per ounce, silver price of $23.50 per ounce, and recovery rates varying for oxide and non-oxide resources. These parameters ensure the resource estimate reflects current market conditions and processing realities.

Lahontan Gold plans to advance the Santa Fe project toward production, with a PEA update and drilling at its satellite West Santa Fe project expected in 2025. The company's strategic focus on resource expansion and development positions it to capitalize on the growing demand for gold and silver. The updated MRE not only enhances the project's value but also provides a solid foundation for future investment and development decisions.

The announcement comes at a time when gold prices remain strong, making the efficient development of gold resources particularly attractive. Lahontan's progress on the Santa Fe project is a testament to its commitment to creating shareholder value through disciplined exploration and development. As the company moves forward with its PEA and construction timeline, the Santa Fe Mine is poised to become a significant contributor to the regional gold supply.

For more information on Lahontan Gold Corp., visit the company's website at www.lahontangoldcorp.com.