Lahontan Gold Advances Santa Fe Mine Development, Fully Funded Into 2027

Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has announced significant progress at its Santa Fe Mine project in Nevada, including the completion of a 2,569-meter geotechnical drill campaign that supports mine permitting and waste rock characterization. The company is also nearing an updated mineral resource estimate, expected in the coming weeks, and plans up to 7,000 meters of exploration drilling across multiple targets.

The company said it is fully funded into 2027 following a recent Cdn$13.6 million private placement and ongoing warrant exercises. Lahontan remains on track to complete permitting in 2027 and advance toward construction of a new Santa Fe Mine. The Santa Fe property, covering 26.4 km², 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.

According to a NI 43-101 compliant technical report, the Santa Fe Mine has an Indicated Mineral Resource of 1,539,000 oz 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 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag), all pit constrained. The company plans to update the Santa Fe Preliminary Economic Assessment and drill test its satellite West Santa Fe project during 2025.

The technical content has been reviewed by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., a Qualified Person under NI 43-101. The full press release is available at https://nnw.fm/Ksm15.

This update underscores Lahontan's commitment to advancing the Santa Fe Mine towards production, with a clear timeline and sufficient funding. The company's ability to secure financing through 2027 de-risks the project and highlights investor confidence in its potential. For more information, visit the company's website at www.lahontangoldcorp.com.