Lahontan Gold Corp. Mobilizes Drill Rig for Santa Fe Mine Resource Expansion

Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has mobilized a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig will complete up to 25 drill holes totaling 4,000 meters, with the program focused on upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas. Executive Chair, Founder, and CEO Kimberly Ann emphasized that this drilling campaign is vital as the Company pivots from resource definition to mine planning and permitting in 2026.

The Santa Fe Mine project represents a significant gold and silver resource in mining-friendly Nevada, with 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. The property currently hosts 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, all pit constrained. The technical content of the company's 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.

Vice President of Exploration Brian Maher is overseeing the drill campaign, which represents a strategic move toward advancing the Santa Fe Mine project toward production. The company plans to continue updating the Santa Fe Preliminary Economic Assessment and drill testing its satellite West Santa Fe project during 2025. For additional technical details, investors can refer to the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project available through the company's regulatory filings. The latest news and updates relating to LGCXF are available in the company's newsroom at https://ibn.fm/LGCXF.

This drilling program's importance extends beyond immediate resource expansion, as successful results could significantly impact the project's economic viability and timeline toward production. The transition from resource definition to mine planning represents a crucial milestone for the company, potentially unlocking substantial value in one of Nevada's prominent mining districts. The Walker Lane district has historically been productive for precious metals mining, and the Santa Fe Mine's established resource base positions it as a potentially significant contributor to regional gold production.