Lahontan Gold Corp. Advances Nevada Gold-Silver Project Toward Production

Lahontan Gold Corp. is advancing its past-producing, open-pit heap leach gold-silver assets in Nevada’s Walker Lane toward potential production. The company’s flagship Santa Fe Mine project has outlined nearly 2 million ounces of gold equivalent, with active drilling at West Santa Fe, ongoing permitting and metallurgical work supporting upcoming economic studies.

The Santa Fe Mine 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. The project currently has 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 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 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. For more information about the company’s technical reports, investors can visit the company’s website at https://www.lahontangoldcorp.com. The Preliminary Economic Assessment, NI 43-101 Technical Report for the Santa Fe Project is available on the Company’s website and SEDAR+.

Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on specific assumptions including a gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and various recovery rates for oxide and non-oxide materials. The company’s progress represents a significant step in developing mineral resources in Nevada’s mining-friendly jurisdiction, with the Walker Lane region being historically productive for precious metals.

The advancement of this project matters because it represents the potential revitalization of a previously productive mining operation with substantial remaining resources. With nearly 2 million ounces of gold equivalent already outlined and the company moving through critical development phases, successful progression could contribute to domestic mineral production and economic activity in Nevada. The company’s systematic approach involving drilling, permitting, metallurgical work, and upcoming economic studies demonstrates a methodical path toward potential production decisions.

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