Santa Fe Mine Project Phase Two Drilling Program

TORONTO – Lahontan Gold Corp. reported on the 2025 Phase Two drilling program at the Santa Fe Mine Project located in Nevada’s Walker Lane. Lahontan has received analytical results for six reverse-circulation rotary (“RC”) drill holes totaling 994 metres.
Significant results include:
1) York: 114.3 metres (76.2 – 190.5m) grading 0.33 g/t Au Eq in YOR25-004R including 18.3 metres (172.2 – 190.5m) grading 0.90 g/t Au Eq: A shallow, thick, intercept of gold mineralization that expands the footprint of the York gold zone to the north of the current mineral resource pit shell, leaving gold mineralization open and unconstrained to the north by modern drilling (please see plan map of drilling and cross section below).
2) Slab: 22.9 metres (19.8 – 42.7m) grading 0.42 g/t Au Eq in CAL25-009R: Very shallow oxide gold that may pull the Slab pit shell deeper in an updated Mineral Resource Estimate (MRE) expected later this year.
3) Slab: 29.0 metres (97.5 – 126.5m) grading 0.26 g/t Au Eq in CAL25-010R: Oxide gold mineralization below the current mineral resource pit shell, an additional opportunity to potentially deepen the Slab conceptual pit shell and capture additional gold resources in the MRE update.
Kimberly Ann, Executive Chair, President, CEO, and Founder, said, “The Lahontan team is excited to receive the first analytical results from our Phase Two 2025 drill program at Santa Fe. The drill results at York reinforce our interpretation that the York deposit continues to the north of the previously defined MRE and provides an excellent opportunity to further expand gold Mineral Resources at York. At Slab, the two drill holes targeting deeper extensions to known shallow oxide gold and silver mineralization were very successful; these drill results will be incorporated into an updated MRE for the entire Santa Fe Mine project, expected in the coming months. We will be receiving additional analytical results for seven drill holes at Santa Fe and six drill holes at our West Santa Fe project over the coming weeks.”