Lahontan Commences Drilling at West Santa Fe

TORONTO, ON / ACCESS Newswire / December 16, 2025 / Lahontan Gold Corp. (TSXV:LG,OTC:LGCXF)(OTCQB:LGCXF) (the ‘Company‘ or ‘Lahontan‘) is pleased to announce that it has commenced drilling at its West Santa Fe project, located only 13 km from the Company’s Flagship Santa Fe Mine project in Nevada’s prolific Walker Lane. A Foremost MPD-1500 track-mounted reverse-circulation drill rig and support equipment has begun Lahontan’s maiden drill campaign at West Santa Fe. The initial focus of the West Santa Fe drilling program will be ‘twining’ multiple historic drill holes from the 1980’s and in order to validate the historic drill hole database. Prior operators completed 171 drill holes totaling 13,107 metres at West Santa Fe between 1980 and 1995. Confirming the validity of this robust database may enable the Company to use this drill hole data in any future Mineral Resource Estimate (‘MRE’) for the project.

Lahontan is also pleased to announce that it has completed its 2025 Phase Two drilling program at the Santa Fe Mine project. During 2025, the Company completed a total of twenty reverse-circulation drill holes in the Slab and York Resource areas. The objective of the drilling program was to expand gold and silver resources at depth below the south end of the Slab pit and to step-out and grow mineral resources in the York area. All Slab area drill holes, which were up to 194 metres deep, remained in oxidized and hydrothermally altered rock to their final depth.

Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented: ‘Lahontan is excited to begin our maiden drill campaign at West Santa Fe. The historic drill hole data are very encouraging, and we look forward to drill testing this important gold and silver resource exploration target. At the Santa Fe Mine project, the twenty drill holes completed this year represent the largest number of drill holes completed in a single year since the Company began drilling the project in 2021. Since that time, Lahontan has completed 99 diamond and reverse-circulation drill holes totaling 22,431 metres at Santa Fe. We plan on updating the Santa Fe Mine MRE in early 2026 utilizing the new drill hole data and then incorporating the MRE into a Preliminary Economic Assessment of the project in H1 2026.’

About Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 28.3 km² 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 Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq(48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). 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. For more information, please visit our website: www.lahontangoldcorp.com

* Please see the ‘Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project’, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report 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 the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.

Qualified Person

Brian J. Maher, M.Sc., CPG-12342, is a ‘Qualified Person’ as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Vice President-Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.

On behalf of the Board of Directors

Kimberly Ann

Founder, CEO, President, and Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com

Cautionary Note Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which filings are available at www.sedar.com.

SOURCE: Lahontan Gold Corp.

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