Lahontan Gold Corp. announced the appointment of Antony Rowe and Miranda Werstiuk as independent directors to the company's board of directors. In conjunction with these appointments, Josh Serfass and Max Pluss have stepped down from the board. This leadership update occurs as the company advances its business strategy and progresses the Santa Fe Mine project toward gold and silver production.
Management noted that the refreshed board brings experience in mine development and mining finance to help guide Lahontan through its transition from mine developer to mine builder. The company holds four gold and silver exploration properties in Nevada's Walker Lane region, with its flagship Santa Fe Mine project having past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995.
The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. The company plans to continue advancing the Santa Fe Mine project toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of the 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.
For more information about the company's projects and technical reports, investors can visit the company's website at https://www.lahontangoldcorp.com. The latest news and updates relating to the company are available in the company's newsroom at http://ibn.fm/LGCXF. The technical report for the Santa Fe Project, effective December 10, 2024, is available on the company's website and SEDAR+.
This board restructuring is significant for investors and the mining industry as it demonstrates Lahontan Gold's commitment to strengthening governance with independent oversight during a critical phase of mine development. Independent directors typically bring objective perspectives to strategic decisions, particularly important for companies transitioning from exploration to production phases where capital requirements and operational risks increase substantially.
The appointments come as the company works to advance its Santa Fe Mine project, which represents substantial mineral resources in a mining-friendly jurisdiction. Nevada's Walker Lane region is known for its mineral wealth and established mining infrastructure, making successful development there potentially impactful for regional economies and gold supply chains. The company's focus on updating its Preliminary Economic Assessment and advancing toward production suggests it may be approaching key milestones that could affect its valuation and ability to secure financing.
For the broader mining sector, such governance changes reflect an industry trend toward enhanced board independence, particularly as environmental, social, and governance considerations gain importance among investors. The specific expertise in mine development and mining finance that the new directors bring could help Lahontan navigate the complex technical and financial challenges of bringing a mine into production, potentially reducing execution risk.
