Lahontan Gold Reports Expanded Mineralization at Santa Fe Project, Supporting Resource Update Plans

Lahontan Gold Corp. has announced new assay results from its 2025 Phase Two reverse-circulation drilling program at the flagship Santa Fe Mine Project in Nevada's Walker Lane region. The results highlight expanded oxide gold and silver mineralization at the Slab pit area beyond the current mineral resource estimate pit shell, with two additional drill holes showing significant intervals. One hole returned 68.6 meters grading 0.45 g/t gold equivalent, while another showed 41.2 meters grading 0.32 g/t gold equivalent.

The expanded mineralization extends shallow deposits to the south, west, and at depth, which has important implications for the project's economic viability and development timeline. These results directly support the company's plans to update both the mineral resource estimate and preliminary economic assessment later this year. The timing coincides with advancing permitting efforts, suggesting a coordinated strategy to move the project toward production readiness. The technical content of this announcement has been reviewed and approved by Michael Lindholm, CPG, an Independent Consulting Geologist to Lahontan Gold Corp. and a Qualified Person as defined in National Instrument 43-101.

For investors seeking additional information, the full press release is available at https://ibn.fm/6adj3, while the latest news and updates relating to the company are accessible at http://ibn.fm/LGCXF. The Santa Fe Mine project represents a significant asset 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 current resource estimates include an Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained according to the company's technical documentation.

The importance of these new results lies in their potential to enhance the project's economic profile through expanded mineralization beyond previous estimates. This expansion could lead to increased resource confidence, potentially improving the project's valuation and attractiveness to investors and partners. The timing of these results as the company prepares to update its preliminary economic assessment suggests they may positively influence that assessment's outcomes. Furthermore, the extension of mineralization at depth and laterally indicates the property may have more exploration potential than previously recognized, which could lead to additional drilling campaigns and resource growth.

These developments occur within Nevada's Walker Lane region, known for its mining-friendly jurisdiction and history of successful gold production. The region's established infrastructure and regulatory framework provide a favorable environment for advancing mining projects toward production. Lahontan's progress at Santa Fe comes as the company also plans to drill test its satellite West Santa Fe project during 2025, indicating a broader exploration strategy across its Nevada property portfolio. The company's approach of systematically expanding known mineralization while advancing technical studies and permitting represents a methodical path toward potential future production decisions.