Lahontan Gold Corp. Commences Drilling at West Santa Fe and Completes 2025 Program at Santa Fe Mine

Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has commenced its maiden drill program at the West Santa Fe project in Nevada's Walker Lane, deploying a reverse-circulation drill rig to twin historic holes and validate a legacy database comprising 171 drill holes totaling more than 13,000 metres completed between 1980 and 1995, which could support future mineral resource estimates. The Company also completed its 2025 Phase Two drilling program at the nearby Santa Fe Mine project, where twenty reverse-circulation drill holes targeted gold and silver resource expansion at depth and in step-out areas, marking the largest annual drill campaign at Santa Fe since drilling began in 2021 and supporting plans to update the mineral resource estimate and advance a preliminary economic assessment in 2026.

The technical content of this news release and the Company's technical disclosure 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 — Standards of Disclosure for Mineral Projects. Mr. Lindholm was not an author for the Technical Report and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the Technical Report. For more information, please visit our website: https://www.lahontangoldcorp.com.

Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.

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