Thick Continuous Gold Drilled At Santa Fe Project

TORONTO - Lahontan Gold Corp. reported drill results from four additional core drill holes exploring the Santa Fe pit area of the 19 km2 Santa Fe Project in Nevada's Walker Lane. The four drill holes, totaling 1,549 meters, were completed in late 2021. These drill holes targeted down-dip step outs from known gold and silver mineralization along the Santa Fe fault, extensions of oxide and transition mineralization southeast of the Santa Fe pit, and an easterly trending structure that may tie Slab pit mineralization to the Santa Fe pit area.

Kimberly Ann, CEO, President, Director, said, "The discovery of a new high-grade zone northwest of the BH Zone suggests that there are multiple "feeder" structures at the Santa Fe Project, opening up additional high-grade targets along the entire strike length of the Santa Fe fault for hundreds of meters. The ubiquitous gold and silver mineralization seen in drill hole SF21-006c extends well below any previous drilling and is a testament to the strength of the Santa Fe hydrothermal system. Drilling results to date are validating our dual path exploration model at Santa Fe: Identify and expand shallow oxide gold and silver mineralization while simultaneously building the scope and scale of deeper, high-grade potential resources."