Lahontan Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its U.S. subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Lahontan's flagship property, the 26.4-square-kilometre Santa Fe Mine Project, 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 Santa Fe Mine has a National Instrument 43-101-compliant indicated mineral resource of 1,539,000 ounces (oz) gold equivalent (AuEq) (48,393,000 tonnes grading 0.92 gram per tonne (g/t) gold and 7.18 g/t silver, together grading 0.99 g/t AuEq) and an inferred mineral resource of 411,000 oz AuEq (16.76 million tonnes grading 0.74 g/t gold and 3.25 g/t silver, together grading 0.76 g/t AuEq), all pit constrained (gold equivalent is inclusive of recovery; please see Santa Fe project technical report). The Company plans to continue advancing the Santa Fe Mine Project toward production, update the Santa Fe preliminary economic assessment and drill test its satellite West Santa Fe Project during 2025.

Investment Highlights

Nevada

• # 1 Jurisdiction in the USA
• Straight Forward Permitting

Size & Scale

• 1.95 Million Ounces & Growing
• District Scale Land Package
• Multi-Million Ounce District

Excellent Infrastructure

• Year-round access, substation on site, three water wells on property with sufficient water rights
• Adjacent to an operating mine

Past Producer

• Santa Fe Mine was mined from 1988-1994 by Corona Gold
• LG on track to Production targeting 2027

Management & Board – Proven Track Record

• Strong support with Management, major Institutional & high net worth investors controlling > 55% of shares

Projects in Hand

Flagship Santa Fe Mine Project, Nevada

Ownership: 100% Lahontan Gold

Location: Nevada’s prolific Walker Lane gold and silver mineral belt

Land Package: 26.4 sq. km with five known deposits

Open Pit, Heap Leach Gold & Silver Operation

Work on the asset has outlined shallow, oxidized Au and Ag mineralization as well as deeper high-grade potential.

Updated Mineral Resource Estimate (Effective date October 9, 2024)

• Indicated: 1.54 million ounces AuEq
• Inferred: 0.41 million ounces AuEq
• Average grade 0.93 g/t AuEq
• Occur in five separate deposits: Santa Fe, Slab, Calvada Central, Calvada East and York deposits
• Resource constrained by conceptual pits

Oxide Domain Resources

• Indicated AuEq oxide: 640,000 ounces grading 0.68 g/t AuEq
• Inferred AuEq oxide: 219,000 ounces grading 0.53 g/t AuEq

Santa Fe Mine Preliminary Economic Assessment (PEA) (Effective date December 10, 2024)

• Life of Mine (LOM) strip ratio of only 1.6
• Low Capex of US$135 M including a 20% contingency
• Rapid payback period of 2.9 years
• Low cash cost
• Post tax NPV5of US$200M
• Post tax IRR of 34.2%
• The PEA demonstrates strong project economics for the resumption of mining at Santa Fe.

Metallurgical Test Work

On June 24, 2025, Lahontan Gold announced that it has commenced metallurgical test work on gold and silver mineralization from the transition metallurgical domain (mixed minor sulfide and oxide mineralization) in the Santa Fe deposit. Lahontan is focusing on dramatically improving CN leach gold recoveries for transition material from the 49% recovery utilized in the recent PEA of the Santa Fe Mine project, unlocking the full potential of transition domain mineralization. Simultaneously, the Company is evaluating methodologies to more accurately define the boundaries between the different metallurgical domains within the Santa Fe deposit. These steps have the potential to profoundly impact project economics and significantly expand the gold and silver production profile from that reported in the PEA. The metallurgical testing will include column leach tests.

West Santa Fe Project, Nevada

Ownership: 100% Lahontan Gold via 7 year low-cost option agreement

Location: Located only 13 km west of the Flagship Santa Fe Mine

Land Package: 19 sq. km

Oxide Starts at the Surface

Project History

• Previous drilling totals over 13,000 metres in 171 drill holes; only five holes are deeper than 165 metres

The West Santa Fe gold-silver project hosts an oxidized gold-silver mineralized system in a geologic setting nearly identical to Santa Fe.

Modeling of historical drill hole data by Lahontan geologists outlines a shallow gold and silver system with a sufficient volume to host 0.5 to 1.0M ounces of oxidized gold and silver mineralization in an open-pit mining configuration.

Drilling To Date

• Au & Ag begins at surface
• Mineralization continues down-rake
• All oxide to date!

Santa Fe Look-A-Like

• Open-pit mining configuration
• Possible low-cost satellite operation

Phase One Drilling in 2025

• 6,300 metres of drilling, 26 reverse circulation (RC) drill holes
• Drilling can be done under a Notice of Intent: rapid BLM permitting
• Historic drilling defines a large, shallow oxide gold and silver system

Management

Management and Directors

Kimberly Ann, Founder, Executive Chair, Chief Executive Officer & President

Ms. Ann is a mining executive who has founded multiple junior mining companies and served in a variety of senior executive positions including CEO, President, CFO and Board Member. In the past twelve years, Ms. Ann has raised over $210M in project financing and collaborated on three Junior Mining M&A projects. While at Prodigy Gold, she was responsible for all aspects of the company’s corporate communication program, facilitating equity financings, generating analyst coverage, participating in key aspects of corporate M&A leading to the $340M buyout of Prodigy by Argonaut Gold. She was CFO and VP Corporate Development at PPX Mining Corp., successfully bringing the high-grade Callanquitas gold-silver underground mine into production in Northern Peru. In 2017, she founded Latin America Resource Group (“LARG”), building Jasperoide from two small concessions into a 57 square kilometre strategic project in the heart of Peru’s most prolific copper-gold mineralized belt. In 2020, LARG merged with Carube Copper Corp. to create C3 Metals Inc., setting the stage for value creation throughout C3’s project portfolio. She is also the Managing Partner of KA Gold LLC, a private company with a portfolio of advanced gold-silver exploration projects in Nevada.

Brian Maher, Founder, Vice President of Exploration

Mr. Maher is an economic geologist with over 45 years of experience in the international mining and exploration industry. Prior to Lahontan, he was the President, CEO and Director of Prodigy Gold Inc. where he guided the company through a period of expansive growth, exploring and developing the 6.6M ounce Magino gold deposit in northern Ontario, culminating in the $341M acquisition of Prodigy Gold by Argonaut Gold in 2012. From 2013 to 2022, he was the President and CEO of PPX Mining, developing, and operating a high-grade underground gold and silver mine in northern Peru. He is also the Managing Partner of KA Gold LLC, a private company with a portfolio of advanced gold-silver exploration projects in Nevada.

John McNeice, Chief Financial Officer

Mr. McNeice is a Chartered Professional Accountant registered in Ontario, Canada with over 30 years of experience. Currently he is the CFO of Gold79 Mines Ltd., C3 Metals Inc. and Northern Graphite Corp.

Josh Serfass, Independent Director

Max Pluss, Independent Director

Evan Pelletier, Independent Director

Shane Williams, Independent Director

News Update

On December 04, 2025, Lahontan Gold Corp. was completed the private placement.

Financing type: non-brokered private placement

Gross proceeds: $2,499,880.20

Offering: 16,665,868 listed shares with 8,332,934 warrants attached

Offering price: 15 cents per listed share

Warrant exercise terms: 25 cents per listed share for a two-year period, subject to an acceleration right

Commissions in securities: 192,735 finders' warrants

Commission terms: Each non-transferable warrant is exercisable at 25 cents per listed share for a two-year period, subject to an acceleration right.

Disclosure: Refer to the company's news releases dated Oct. 29, 2025, and Nov. 25, 2025.

On November 26, 2025, Lahontan Gold Corp. has received approval from the federal Bureau of Land Management (BLM) for its maiden drill program at the West Santa Fe project, located only 13 kilometres from Lahontan's flagship Santa Fe mine project in Nevada's prolific Walker Lane. The BLM approved Lahontan's notice of intent (NOI) for drill sites on unpatented lode mining claims located on BLM-administered federal lands at West Santa Fe. The drilling program will focus on validating historic drilling and testing significant extensions to the known gold and silver mineralized system at West Santa Fe. The company currently has a drill rig active at the Santa Fe mine project and will move the drill rig to West Santa Fe when that drill program is complete.

Kimberly Ann, chief executive officer, executive chair and founder of Lahontan Gold, commented: "The company is excited to receive approval of the West Santa Fe NOI from the BLM. We appreciate the efficiency of the BLM in processing the permit. We can now focus on confirming the positive results from historic drilling at West Santa Fe, which outlined a very shallow, oxidized, gold and silver system. Our geologic work at West Santa Fe shows that the gold and silver mineralization identified by historic drilling extends for several kilometres to the east along strike as well as downdip to the north. The company expects the drilling program to commence in December."

The company also announces that it has granted an aggregate of nine million options to purchase common shares of the company exercisable at a price of 15 cents per common share for a period of five years to directors, officers and consultants of the company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.

On November 25, 2025, Lahontan Gold Corp., further to its news release of Oct. 29, 2025, has closed a non-brokered private placement through the issuance of 16,665,868 units in the capital of the company at a price of 15 cents per unit for gross proceeds of $2,499,880.20. Due to investor demand, the company upsized the offering from 13,333,333 units to 16,665,868 units.

Gross proceeds raised from the offering will be used for general working capital purposes and for exploration at the company's Santa Fe mine and West Santa Fe projects. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

On November 13, 2025, The federal Bureau of Land Management (BLM) has published its decision record (DR), finding of no significant impact (FONSI), and approval of the company's exploration plan of operations (EPOO) for Lahontan Gold Corp.'s Santa Fe mine project, on the BLM's website. This decision concludes the National Environmental Policy Act (NEPA) environmental assessment (EA) process and authorizes Lahontan to move forward with its greatly expanded exploration drilling and mine development program at Santa Fe.

With the EPOO in place, Lahontan can now initiate true exploration programs across the broader project area. The EPOO encompasses over 700 permitted drill holes targeting well-defined geologic and geochemical anomalies, as well as previously drilled areas that returned significant gold and silver intercepts that require follow-up drilling. Priority targets include the Pinnacles area, hosted in a similar geologic setting to Fortitude Gold's nearby Isabella Pearl mine, as well as important historic drilling at the Guzzler target south of the Santa Fe open pit, along with multiple untested zones between the known resource areas at Santa Fe

Kimberly Ann, Lahontan Gold executive chair, founder, chief executive officer and president, commented: "Receiving approval of the Santa Fe mine project EPOO represents a landmark milestone for Lahontan. Until now, the company's exploration activities were limited to a five-acre disturbance area, significantly restricting its ability to step out from known resources and fully assess the exploration potential of the Santa Fe mine project. With the approval of the EPOO, Lahontan can now explore a 12.2-square-kilometre area encompassing multiple well-defined geological and geochemical targets located between and adjacent to existing gold and silver resources. The expanded permit area also allows for drill testing of the historical heap leach pads, which may contain remnant mineralization of potential economic interest. This approval positions the company to evaluate the broader gold and silver endowment of the Santa Fe mine project and to unlock the full potential of its strategic land position in Nevada's Walker Lane. Lahontan would also like to thank the staff of the Carson City office of the BLM for their efficient and timely completion of the EPOO."

On November 10, 2025, Lahontan Gold Corp. has mobilized a track-mounted reverse circulation drill rig and crew to its flagship Santa Fe mine project in Nevada's gold and silver-rich Walker Lane. The MPD-1500 RVC track-mounted drill rig will focus on infill drilling, upgrading gold and silver resources from the inferred to indicated category, and expanding overall resource numbers at the Slab and York areas of the Santa Fe mine. The drilling program will consist of up to 25 drill holes totalling 4,000 metres, targeting shallow oxide gold and silver mineralization.

Kimberly Ann, Lahontan executive chair, founder, chief executive officer and president, commented: "Lahontan is excited to begin its fall 2025 drilling program at the Santa Fe mine. Utilizing the results from our phase 1 2025 drill program, the geologic team has carefully targeted multiple areas at the Slab and York deposits, where gold and silver resources can be upgraded and expanded. The drill program is vital as the company pivots from resource definition to mine planning and permitting in 2026. Combined with ongoing metallurgical testing, this drilling program sets the stage for detailed mine scheduling, planning and the mine permitting process. Brian Maher, our vice-president, exploration, and co-founder of Lahontan, is personally overseeing the drill program: At Lahontan Gold Corp., it's all hands on deck."

On November 04, 2025, Lahontan Gold Corp. and GRA Enterprises LLC, doing business as National Inflation Association (NIA), entered into a consulting agreement for investor relations and communication services. The NIA agreement has an initial term of six months. Pursuant to the terms of the NIA agreement, the company has paid NIA $50,000 (U.S.). The term of the NIA agreement can be extended by three months for an additional $30,000 (U.S.), six months for an additional $50,000 (U.S.) or one year for an additional $100,000 (U.S.). NIA will leverage its expansive distribution channels -- including targeted e-mail lists, website features and blog content -- to highlight the company's growth story and project developments.

On October 29, 2025, Lahontan Gold Corp. has arranged a non-brokered private placement financing for gross proceeds of up to $2-million through the issuance of up to 13,333,333 units at a price of 15 cents per unit.

Each unit comprises one common share of the company and one-half of one whole common share purchase warrant of the company. Each warrant entitling the holder thereof to purchase one common share at a price of 25 cents per common share for a period of two years from the date of issuance, provided, however, that should the closing price at which the common shares trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the common shares may trade at the applicable time) is equal to or exceeds 35 cents for 10 consecutive trading days at any time following the date that is four months and one day after the date of issuance, the company may accelerate the warrant term such that the warrants shall expire on the date that is 30 business days following the date a news release is issued by the company announcing the reduced warrant term.

Gross proceeds raised from the offering will be used for general working capital purposes, and for exploration at the company's Santa Fe mine and West Santa Fe projects.

On October 27, 2025, Lahontan Gold Corp. has received $4,316,948 from the exercise of warrants and stock options during the period July 4 through Oct. 23, 2025. Following the exercise of the warrants, stock options and the issuance of shares associated with the purchase of the York unpatented mining claims at the Santa Fe mine project (please see press release dated Oct. 23, 2025), the company had 334,420,221 common shares issued and outstanding. The funds will be used for exploration and mine development work at the company's projects in Nevada's Walker Lane gold belt and for general corporate purposes.

Kimberly Ann, chair, chief executive officer, president and founder of Lahontan Gold, commented: "The exercise of such a significant number of warrants and options over the last four months is evidence of incredible shareholder support for the company's vision and business plan to continue advancing the Santa Fe mine project towards production. The receipt of these funds leaves the company fully financed for the planned fall drilling programs at both Santa Fe and West Santa Fe, which we expect to commence shortly. The exercise of these warrants and options also tightens the company's share structure, positioning Lahontan for future growth and value creation".

On October 23, 2025, Lahontan Gold Corp. has completed the purchase of 27 unpatented lode mining claims (the York claims) from Emergent Metals Corp. The York claims are contiguous with the southeast corner of the Santa Fe mine project and provide a compelling opportunity to significantly expand oxide gold and silver mineral resources previously defined at the York deposit. Modelling of drill data during the mineral resource estimation process suggests that gold and silver mineralization likely extends onto the York claims. This targeting concept was in part validated by Lahontan's recent drilling campaign where reverse circulation drill hole YOR25-001R cut 89.9 metres (45.7 to 135.6 m) grading 0.23 gram per tonne gold (please see Lahontan Gold news release dated Sept. 2, 2025). The company is currently planning additional drilling at the York target area for this fall. With the addition of the York claims, the company now owns or controls 415 unpatented lode mining claims, 67 unpatented mill site claims and 24 patented lode mining claims encompassing over 2,832 hectares or 28.3 square kilometres of mineral rights in one of the world's premier gold belts: Nevada's Walker Lane.

Kimberly Ann, Lahontan founder, chair, chief executive officer and president, commented: "Lahontan is excited to have completed the purchase of the York claims. The gold and silver resource expansion potential, combined with the ability to further layback the York pit in potential future mining operations, makes the purchase a strategic acquisition for the company. Lahontan now controls a district-scale land package that, despite prolific past production and the completion of over 1,200 drill holes, remains largely unexplored with multiple targets for resource expansion and new discoveries."

On October 15, 2025, Lahontan Gold Corp. has submitted a notice of operations to the federal Bureau of Land Management for its proposed exploration drilling program at Lahontan's West Santa Fe project, located only 13 kilometres southwest of the company's flagship Santa Fe mine project. The notice seeks to permit multiple drill sites at the West Santa Fe project, plus the construction of access roads and sumps for drilling fluids. The company intends to drill multiple holes from each drill site, twining, drilling downdip and exploring the West Santa Fe system along strike from areas of known gold and silver mineralization. Historic drilling, totalling 171 drill holes for approximately 13,000 metres, defines shallow, oxidized, gold and silver mineralization near the historic Mindora underground mine. Geologic mapping and sampling show that this zone of mineralization continues for over 1,000 metres to the east, an area marked by numerous shallow adits, prospect pits and outcrops of hydrothermally altered rock. (Please see Lahontan Gold press release dated June 18, 2024.)

Kimberly Ann, Lahontan founder, chair, chief executive officer and president, commented: "Lahontan is excited to submit this notice of operation for drilling at West Santa Fe to the BLM. Once approved, the company will be able to conduct its first drilling program at the project, seeking to validate the extensive historic drill hole database and expand the footprint of disseminated gold and silver mineralization at West Santa Fe."

On September 25, 2025, The federal Bureau of Land Management has begun a National Environmental Policy Act review of Lahontan Gold Corp.'s exploration plan of operations. The BLM has up to six months to complete the process; however, Lahontan, its permitting consultants and the BLM believe the process will be much more rapid as the POO has been posted on the BLM national NEPA registry and a draft environmental assessment has already been completed. The company has also signed a contributed funds agreement with the BLM whereby Lahontan will provide financing to the BLM in support of the NEPA process, allowing the BLM to assign additional personnel to the review team and potentially further reduce the time required to complete the review.

Kimberly Ann, Lahontan founder, chair, chief executive officer and president, commented: "Lahontan is excited to have its exploration POO enter the NEPA review process. When NEPA is completed, the POO will allow for staged exploration drilling of over 700 holes within the Santa Fe mine project area, greatly enhancing the potential to expand the project's gold and silver resources and enhance expanded mining opportunities. The contributed funds agreement allows the BLM to utilize additional personnel to complete the NEPA analysis and provide funding in case of a federal government shutdown."

Pursuant to the terms of the Warrants, the Company may accelerate the expiry of the Warrants if the common shares (the "Common Shares") of the Company trade on the TSX Venture Exchange (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) at a volume weighted average closing price ("VWAP") of CDN$0.12 or above per Common Share for a ten (10) consecutive trading day period (the "Acceleration Period"). The Company hereby provides notice (the "Acceleration Notice") of the Acceleration Period covering the ten (10) trading days ended September 4, 2025, and that the Company is exercising its right to accelerate the expiry of the Warrants to 5:00 p.m. (Toronto Time) on October 21, 2025 (the "Accelerated Expiry Date"). Any Warrants remaining unexercised after the Accelerated Expiry Date will expire and be of no force and effect.

Assuming all the Warrants are exercised, the Company will receive proceeds of approximately $1,708,228. The proceeds will be used for working capital purposes.

On September 02, 2025, Lahontan Gold Corp. has released the results from its 2025 phase one drilling program at the company's flagship Santa Fe mine project located in Nevada's prolific Walker Lane. Lahontan completed seven reverse circulation rotary (RC) drill holes totalling 1,210 metres (please see attached table). Significant results include:

• York: 89.9 metres (45.7 to 135.6 m) grading 0.23 gram per tonne Au (YOR25-001R): A very shallow, thick, intercept of oxide gold mineralization that greatly expands the footprint of the York gold zone and confirms the potential to expand the York gold resource along strike and down dip, leveraging the upside value of the recently announced York claim acquisition.
• York: A second higher-grade zone at York: 18.3 metres (141.7 to 160.0 m) grading 0.73 g/t Au including 12.2 m grading 1.00 g/t Au (YOR25-002R). This drill hole bottomed in oxidized gold mineralized rock and is open up and down dip, and along strike, defining a second gold trend at York.
• Slab: 39.6 metres (67.1 to 106.7 m) grading 0.30 g/t Au immediately below the south end of the Slab open pit (CAL25-004R). This drill hole defines a second, strataform, oxide gold horizon that mimics the geometry of the Slab mineral resource defined by prior drilling and confirms a new target for gold resource expansion.

Kimberly Ann, Lahontan Gold chief executive officer, executive chair and founder, commented: "Lahontan is excited with the results from phase one drilling at Santa Fe. In particular, the results from the York area, thick, shallow intercepts of oxide gold mineralization, highlight the tremendous upside potential of York, amplified by the recent expansion of our land package at York. We are in the process of designing a phase two drilling program for York and Slab, to take place in the fall."

On August 26, 2025, Lahontan Gold Corp. has received notice from the Federal Bureau of Land Management (the BLM) that Lahontan's exploration plan of operations (POO) has been determined to be complete and Santa Fe mine project can now enter full environmental assessment (the EA) under the National Environmental Protection Act (NEPA). The determination means that all the environmental baseline studies used in the POO are complete, including studies of biological, cultural and historical resources, culminating over two years of study and documentation at Santa Fe. Importantly, these studies can be used in any future environmental assessment of the project including a mine plan of operations. The POO would allow for exploration on over 12 square kilometres of the project and includes over 700 drill sites. The company anticipates completing the NEPA process and receiving final approval of the POO in Q4 2025 allowing for a robust drilling campaign in 2026.

Kimberly Ann, Lahontan Gold chief executive officer, executive chair and founder, commented: "Lahontan is pleased to receive notice from the BLM that our Santa Fe exploration project POO has been determined to be complete, and we can now head towards the completion of an EA under NEPA. The ability to explore throughout the project area will give the company the opportunity to unlock the tremendous untapped potential of the project while simultaneously continuing to develop plans to bring the Santa Fe mine back into production. We look forward to working hand in hand with the BLM and our permitting consultants and completing the NEPA process in a timely manner."

On August 19, 2025, Lahontan Gold Corp. announced that the Company signed a binding term sheet (the "Term Sheet") on August 18, 2025 to acquire 27 unpatented lode mineral claims (the "YorkClaims") from Emergent Metals Corp. ("Emergent"),adding approximately 2.1 km2 of strategic mineral rights to the Santa Fe Mine Project. The claims adjoin the Santa Fe Mine Project immediately south and southeast of the York open pit and gold mineral resource. Resource modeling completed as part of the recent Preliminary Economic Assessment ("PEA") of the Santa Fe Mine Project* demonstrated that gold-silver mineral resources extended in the direction of the York Claims. The acquisition of the York claims will allow the expansion of the York open pit and potentially, a substantial increase of mineral resources in the York area.

Kimberly Ann, Lahontan Gold Corp CEO, Executive Chair, and Founder commented: "Lahontan is very excited to acquire the York Claims that are directly adjacent to the York gold mineral resource*. The newly acquired claims will allow a considerable layback of the York pit during mine planning and in mineral resource estimation. Modeling of gold and silver mineralization at York in the Santa Fe Mine Project PEA was constrained by a pit shell that must honor the property boundary*. With the addition of the York Claims, that pit can be greatly expanded, potentially adding resource ounces plus opening up compelling targets for further gold and silver mineral resource expansion. Coupled with recently completed exploration drilling, the Company continues its path of growing size and scale of the Santa Fe Mine Project and enhancing shareholder value".

Emergent and Lahontan contemplate completing a Definitive Agreement (the "Agreement") within 30 days of signing the Term Sheet. The transaction (the "Transaction") is subject to all necessary approvals, including regulatory approval.

June 24, 2025, Lahontan Gold announced that the Company has commenced metallurgical test work on gold and silver mineralization from the transition metallurgical domain (mixed minor sulfide and oxide mineralization) in the Santa Fe deposit. Lahontan is focusing on dramatically improving CN leach gold recoveries for transition material from the 49% recovery utilized in the recent Preliminary Economic Assessment (PEA) of the Santa Fe Mine project, unlocking the full potential of transition domain mineralization. Simultaneously, the Company is evaluating methodologies to more accurately define the boundaries between the different metallurgical domains within the Santa Fe deposit. These steps have the potential to profoundly impact project economics and significantly expand the gold and silver production profile from that reported in the PEA. The metallurgical testing will include column leach tests; results are expected later this year.

https://lahontangoldcorp.com/wp-content/uploads/2025/06/PR-Begin-Met-Testing-24JUN2025-FINAL.pdf

June 9, 2025, Lahontan Gold announced that it has received approval from the federal Bureau of Land Management (BLM) for additional drill sites at its Santa Fe Mine project. The BLM approved an amendment to Lahontan’s notice of intent (NOI) for drill sites on unpatented lode mining claims located on BLM-administered federal lands at Santa Fe. The drill holes will allow the Company to test significant extensions to the known gold and silver resources in the Slab and York areas of the project. Drilling in these areas will commence shortly as part of phase 1 of Lahontan’s 2025 drilling program at Santa Fe.

https://lahontangoldcorp.com/wp-content/uploads/2025/06/PR-Receive-BLM-Approval-for-Santa-Fe-Drilling-09JUN2025-FINAL-FINAL.pdf

June 2, 2025, Lahontan Gold announced that it has mobilized a reverse circulation drill rig and support equipment to its Santa Fe mine project. Lahontan will initially concentrate phase 1 of its 2025 drilling program on the Slab target area. Drilling will commence on the patented lode mining claims and then expand onto lands administered by the Federal Bureau of Land Management when formal approval of the Company’s notice of intent is received.

https://lahontangoldcorp.com/wp-content/uploads/2025/06/PR-Mobilize-Drill-Rig-to-Santa-Fe-02JUN2025-FINAL-FINAL.pdf

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