Lahontan Gold Receives Federal Approval for Expanded Santa Fe Mine Exploration

Lahontan Gold Corp. has received approval from the Bureau of Land Management for an expanded exploration program at its Santa Fe Mine project in Nevada, marking a significant regulatory milestone that could accelerate development of the company's mineral resources. The BLM published its Decision Record and Finding of No Significant Impact, concluding the NEPA Environmental Assessment process and authorizing Lahontan to advance a substantially larger drilling and development initiative across the property.

The approved Exploration Plan of Operations permits exploration across a 12.2 square kilometer area with more than 700 drill holes targeting new geologic and geochemical anomalies, historic high-grade intercepts, and multiple untested zones beyond the current gold and silver resources. This expanded program includes high-priority targets such as the Pinnacles area and Guzzler zone, which represent significant potential for resource growth beyond the project's existing mineral inventory.

The Santa Fe Mine project holds substantial mineral resources, with a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent. These resources are pit-constrained and based on technical assumptions including a gold price of US$1,950 per ounce and silver price of US$23.50 per ounce. The property has a history of past production, with 359,202 ounces of gold and 702,067 ounces of silver produced between 1988 and 1995 from open pit mines using heap-leach processing.

This regulatory approval is significant for the mining industry as it demonstrates continued federal support for mineral exploration in Nevada's Walker Lane region, a historically productive mining district. The expanded exploration program could potentially lead to increased mineral resources and advance the project toward production, contributing to domestic gold and silver supply. For more detailed technical information, readers can review the full press release and the company's technical documentation available through regulatory filings.

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 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. Additional company information is available through their corporate communications and regulatory disclosures.