Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) announced the appointment of Billy Choi as its new chief financial officer. Choi will assume full CFO responsibilities in October 2026 following a transition period, according to a press release. The company said the appointment strengthens its financial management team as it advances permitting for the Santa Fe Mine and targets a restart of production in 2027.
Choi most recently served as vice president of finance at Lithium Royalty Corp., where he was involved in its initial public offering, public-company reporting, financial controls and subsequent acquisition by Altius Minerals. His experience in the royalty and mining sectors is expected to be valuable as Lahontan moves from exploration to production.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Its flagship property, the 26.4 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 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. 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.
The timing of Choi’s appointment is critical. Lahontan is in the permitting phase for the Santa Fe Mine, a key step before construction and production can begin. A restart of production in 2027 would mark a significant milestone for the company, transforming it from a developer to a producer. This transition requires robust financial oversight, particularly in managing capital expenditures, compliance and investor relations. Choi’s background in public-company reporting and financial controls will be essential in meeting the rigorous standards of public markets and regulatory bodies.
For investors, the appointment signals Lahontan’s commitment to executing its business plan and could enhance confidence in the company’s ability to secure financing and deliver on its production timeline. The global gold market remains volatile, and a successful restart could position Lahontan as a notable mid-tier gold producer in Nevada, a jurisdiction known for its mining-friendly policies. The addition of a CFO with IPO and acquisition experience may also position the company for future strategic opportunities, such as partnerships or further asset acquisitions.
The technical content of this news release and the company’s technical disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. For more information, visit the company’s website at www.lahontangoldcorp.com. The latest news and updates relating to LGCXF are available in the company’s newsroom at http://nnw.fm/LGCXF.
