Ms. Kimberly Ann reports

LAHONTAN SELECTS RESPEC AND KAPPES CASSIDAY TO UPDATE SANTA FE MINERAL RESOURCE ESTIMATE AND PEA

Lahontan Gold Corp. has retained Respec Company LLC and Kappes, Cassiday & Associates (KCA) to update the Santa Fe mine project technical report, including a new mineral resource estimate (MRE) and preliminary economic assessment (PEA). The updated MRE will incorporate all drilling completed since October, 2024, and utilize new metallurgical data, mining costs, and revised gold and silver prices to design conceptual pit shells to constrain the MRE. Once the MRE is completed, the team will then focus on developing a revised PEA which should reflect the impact of the new technical data as well as metal prices. It is expected that the MRE should be completed in the coming months, with the PEA expected in Q2 2026.

Kimberly Ann, Lahontan executive chair, president, chief executive officer and founder, commented: "Lahontan is excited to begin the process of updating the Santa Fe mine MRE and PEA. Not only do we have additional drilling to incorporate into the MRE, but also a revised and very detailed three-dimensional geologic model, which will greatly aid gold and silver grade interpolation. Combined with new metallurgical data and upward trending metal prices, we look forward to an updated MRE. The PEA process is vital to Lahontan as it creates an operational model that can be used to evaluate multiple mining scenarios over a range of metal prices that in turn, will provide key data, i.e. process plant throughput, waste rock tonnages, et cetera, that will be used in our mine permitting program."

About Lahontan Gold Corp.

Lahontan Gold is a Canadian mine development and mineral exploration company that holds, through its United States subsidiaries, four gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Lahontan's flagship property, the 28.3-square-kilometre 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 AuEq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t AuEq) and an inferred mineral resource of 411,000 oz AuEq (16.76 million grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (AuEq 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 toward production, update the Santa Fe preliminary economic assessment and drill test its satellite West Santa Fe project during 2025.

Qualified person

Brian J. Maher, MSc, 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.

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