Lahontan Gold's Santa Fe Mine Project Advances to Full Environmental Assessment Under NEPA

The Federal Bureau of Land Management has deemed Lahontan Gold Corp.'s Exploration Plan of Operations complete, allowing the Santa Fe Mine Project in Nevada to advance into full environmental assessment under the National Environmental Protection Act. This determination confirms completion of all baseline biological, cultural and historical studies, which can also support future mine planning. The plan provides for exploration across 12 square kilometers with more than 700 drill sites. Lahontan anticipates completing the NEPA process and receiving final approval of the plan in Q4 2025, enabling a robust drilling campaign in 2026.

The Santa Fe Mine project represents a significant development opportunity in Nevada's mining-friendly Walker Lane region. The property had 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. Current mineral resources include 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 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.

This advancement to full environmental assessment under NEPA represents a crucial regulatory milestone for the project. The completion of baseline studies and the progression through the environmental review process demonstrates the company's commitment to responsible mineral development. The extensive exploration plan covering 12 square kilometers with over 700 drill sites indicates the substantial scale of the potential mining operation. The anticipated timeline for NEPA completion in Q4 2025 and subsequent drilling campaign in 2026 provides a clear pathway for project development.

The Santa Fe Mine project's advancement is particularly significant given Nevada's status as a premier mining jurisdiction and the project's substantial mineral resources. The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical details and resource calculations are documented in the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project, which provides comprehensive information about the project's economic potential and mineral resources.