Drill Rig Mobilized To The Santa Fe Mine

TORONTO - Lahontan Gold Corp. has mobilized a Boart Longyear MPD-1500 track-mounted reverse-circulation (RC) drill rig to its Santa Fe Mine, located in Nevada's Walker Lane. Drilling is scheduled to commence, as the Company has permitted a drilling program consisting of up to 11,000 meters of RC drilling designed to expand upon the project's existing pit constrained gold and silver Resource (Indicated Mineral Resource of 1,112,000 oz Au Eq (grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq).

The initial phase of the 2023 drilling program will focus on Slab-Calvada Complex, with step-out drilling designed to expand upon the extensive oxide gold and silver Resources at Slab-Calvada. Twenty RC drill holes are planned adjacent to the known gold and silver Resources, allowing the Company to tie-together the existing Resource pit shells, consolidating the individual Resources into a larger conceptual pit.

Kimberly Ann, Founder, CEO, President, and Director said, "Lahontan is excited to embark on its 2023 drilling campaign. Our initial focus on the Slab-Calvada complex intends to build upon the tremendous success of our past drilling and grow oxide gold and silver resource ounces. We will fill-in between the individual gold and silver deposits at Slab-Calvada and also explore at depth where we still have not reached the bottom of oxide gold and silver mineralization.”