Lahontan Mobilizes Drill Rig to the Santa Fe Mine

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Lahontan Gold Corp (OTCQB:LGCXF) has mobilized a track-mounted MPD-1500 reverse-circulation drill rig to its Flagship Santa Fe Mine in Nevada's Walker Lane.

The program targets up to 25 holes (4,000 metres) focused on shallow oxide gold and silver at the Slab and York areas to upgrade resources from Inferred to Indicated and expand overall mineral resources. Work supports a 2026 pivot to mine planning and permitting and will be combined with ongoing metallurgical testing.

TORONTO, ON / ACCESS Newswire / November 10, 2025 / Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that it has mobilized a track-mounted reverse-circulation ("RVC") drill rig and crew to its Flagship Santa Fe Mine project in Nevada's gold and silver-rich Walker Lane. The MPD-1500 RVC track-mounted drill rig will focus on in-fill drilling, upgrading gold and silver resources from the Inferred to Indicated category, and expanding overall resource numbers at the Slab and York areas of the Santa Fe Mine. The drilling program will consist of up to 25 drill holes totalling 4,000 metres, targeting shallow oxide gold and silver mineralization.

Kimberly Ann, Lahontan Gold Corp. Executive Chair, Founder, CEO, and President commented: "Lahontan is excited to begin its Fall 2025 drilling program at the Santa Fe Mine. Utilizing the results from our Phase One 2025 drill program, the geologic team has carefully targeted multiple areas at the Slab and York deposits where gold and silver resources can be upgraded and expanded. The drill program is vital as the Company pivots from resource definition to mine planning and permitting in 2026. Combined with ongoing metallurgical testing, this drilling program sets the stage for detailed mine scheduling, planning, and the mine permitting process. Brian Maher, our Vice President - Exploration and co-founder of Lahontan, is personally overseeing the drill program: at Lahontan Gold Corp it's all hands on deck!"

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

View the original press release on ACCESS Newswire

FAQ

What drilling program did Lahontan (LGCXF) start at Santa Fe on November 10, 2025?

Lahontan mobilized a track-mounted MPD-1500 RVC rig for up to 25 holes totalling 4,000 metres targeting shallow oxide gold and silver.

What is the objective of Lahontan's Fall 2025 drill program at Santa Fe (LGCXF)?

To upgrade Inferred resources to Indicated at Slab and York and to expand overall resource tonnage ahead of mine planning.

Which areas of the Santa Fe Mine is Lahontan (LGCXF) targeting with the 2025 drilling?

The program targets the Slab and York deposit areas for resource upgrade and expansion.

How will the 2025 drilling at Santa Fe affect Lahontan's timeline (LGCXF)?

The company says results will support a 2026 transition from resource definition to mine planning and permitting.

Who is overseeing Lahontan's Santa Fe drill program (LGCXF)?

Brian Maher, Vice President - Exploration and co-founder, is personally overseeing the drill program.

Will Lahontan combine drilling results with other studies at Santa Fe (LGCXF)?

Yes; drilling will be combined with ongoing metallurgical testing to inform detailed mine scheduling, planning, and permitting.