Lahontan Gold Expands Santa Fe Potential with New Discovery at Summit Fault

Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) has announced further drilling results from its 2026 program at the Santa Fe Mine project in Nevada, revealing a new gold discovery in Tertiary volcanic rocks along the Summit Fault and additional high-grade oxide mineralization at the Calvada East resource area. These findings underscore the district's potential to expand beyond its current resource base.

Drill hole CAL26-11R returned 13.7 meters grading 1.10 g/t gold equivalent (Au Eq), marking the first significant mineralization hosted in volcanic rocks along the Summit Fault, a structural feature that had not been previously tested. This establishes a new exploration target that could significantly extend the known mineralization at Santa Fe. Meanwhile, CAL26-12R intersected 12.2 meters grading 1.26 g/t Au Eq near the base of the current resource pit shell, confirming the continuity of high-grade oxide mineralization at Calvada East.

At the Slab West target, the company reported broad intervals of shallow oxide gold and silver mineralization. Drill holes CAL26-13R and CAL26-15R intersected 35.1 meters grading 0.21 g/t Au Eq and 18.3 meters grading 0.22 g/t Au Eq, respectively. These results indicate that Slab West remains open in multiple directions, with potential for further expansion as additional assay results from recently completed drill holes are expected shortly.

The Santa Fe Mine project, which spans 26.4 square kilometers, has a storied history with past production of 359,202 ounces of gold and 702,067 ounces of silver from open pit mines using heap-leach processing between 1988 and 1995. The project hosts a National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag) and an Inferred Mineral Resource of 411,000 ounces Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag).

The new results are significant because they suggest the potential to grow the resource base and extend the mine life. The discovery of gold in volcanic rocks along the Summit Fault is particularly important as it opens up a new geological setting for mineralization, which could lead to the identification of additional deposits within the district. The company plans to continue advancing the project towards production, with an updated Preliminary Economic Assessment and further drilling at the satellite West Santa Fe project scheduled for 2025.

Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold, has reviewed and approved the technical content of this news release. The company's ongoing exploration efforts are aimed at unlocking the full potential of the Santa Fe district, which is situated in the Walker Lane, a region known for its mineral wealth and mining-friendly jurisdiction.

For investors, these results provide confidence in the project's upside potential and the company's ability to execute its exploration strategy. As additional assays come in, the market will be watching to see if the new discovery at Summit Fault can be expanded into a meaningful resource addition.