Lahontan Gold Corp. Mobilizes Drill Rig for Santa Fe Mine Resource Expansion Program

Lahontan Gold Corp. has mobilized a track-mounted reverse-circulation drill rig and crew to its flagship Santa Fe Mine project in Nevada's Walker Lane district. The MPD-1500 rig will complete up to 25 drill holes totaling 4,000 meters, with the program focused on upgrading gold and silver resources from the Inferred to Indicated category and expanding overall resources at the Slab and York areas.

The drilling campaign represents a critical step as the company transitions from resource definition to mine planning and permitting activities planned for 2026. Executive Chair, Founder, and CEO Kimberly Ann emphasized the program's importance, stating it is vital for the company's strategic pivot toward development. Vice President of Exploration Brian Maher is overseeing the drill campaign, ensuring proper execution of the technical objectives.

The Santa Fe Mine project holds significant historical production credentials, having produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. The property spans 26.4 square kilometers in mining-friendly Nevada, a jurisdiction known for its supportive regulatory environment for mineral development.

Current mineral resources at Santa Fe include a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 gold equivalent ounces and an Inferred Mineral Resource of 411,000 gold equivalent ounces. The technical content of the company's 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.

This drilling initiative comes as part of Lahontan's broader 2025 objectives, which include advancing the Santa Fe Mine project toward production, updating the Santa Fe Preliminary Economic Assessment, and conducting drill testing at its satellite West Santa Fe project. The full technical details are available in the Preliminary Economic Assessment, NI 43-101 Technical Report for the Santa Fe Project, which can be accessed through the company's regulatory filings and website at https://lahontangoldcorp.com.

The mobilization of drilling equipment and personnel signals tangible progress in resource development at a time when gold prices remain strong and mining companies seek to bolster their asset portfolios. For investors and industry observers, the successful execution of this drilling program could significantly enhance the project's economic viability and move it closer to production decision-making. The company's progress can be tracked through its regulatory filings and news updates available at http://ibn.fm/LGCXF.