Ms. Kimberly Ann reports

LAHONTAN MOBILIZES SECOND DRILL RIG TO SANTA FE

Lahontan Gold Corp. 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 augment the diamond drill rig currently operating at Santa Fe with a focus on drilling areas of the project that have seen little or no exploration drilling.

Kimberly Ann, executive chair, president, chief executive officer and founder of Lahontan, commented: "Since the company's inception, Lahontan drilling has focused on resource definition and expansion to support our goal of resuming gold and silver production and mining operations at Santa Fe. With the approval of our exploration plan of operations, Lahontan can now drill over 700 new holes, exploring areas of the project that have been underexplored or overlooked by previous operators. We are very proud of the progress the company has made toward a restart of mining at Santa Fe in 2027; however, the resumption of true exploration drilling is yet another exciting chapter in the evolution of the Santa Fe mine project, a chapter that has the potential to unlock the true mineral potential of our district-scale land package."

About Lahontan Gold Corp.

Lahontan Gold is a Canadian mine development and mineral exploration company that holds, through its U.S. 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 National Instrument 43-101-compliant indicated mineral resource of 1,539,000 ounces gold equivalent (48,393,000 tonnes grading 0.92 gram per tonne gold and 7.18 grams per tonne silver, together grading 0.99 g/t AuEq) and an inferred mineral resource of 411,000 ounces AuEq (16.76 million tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t AuEq), all pit constrained (AuEq is inclusive of recovery; please see Santa Fe project technical report). 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 (No. 12342), is a qualified person as defined under NI 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.

We seek Safe Harbor.