Ms. Kimberly Ann reports

LAHONTAN DRILLS MORE SHALLOW OXIDE GOLD AT WEST SANTA FE: 49M GRADING 0.83 G/T AUEQ INCLUDING 11M GRADING 1.83 G/T AUEQ

Lahontan Gold Corp. had more analytical results from the company's 2025 maiden drilling program at the company's satellite West Santa Fe project, located only 13 kilometres from Lahontan's flagship asset, the Santa Fe mine project, in Nevada's prolific Walker Lane. These assay results are from two additional reverse circulation rotary (RC) drill holes at West Santa Fe and are summarized herein. The results from the final drill hole in the program are expected shortly.

• WSF25-02R: 48.8 metres (13.7 to 62.5 m) grading 0.83 gram per tonne AuEq including 10.7 metres (47.2 to 57.9 m) grading 1.83 g/t AuEq, a very shallow intercept of oxide gold and silver mineralization that shows excellent continuity with adjacent Lahontan drilling and historic drilling.
  • Individual intercepts range up to 3.21 g/t AuEq (1.52 m, 25.91 to 27.43 m, 2.08 g/t Au, 72.5 g/t Ag), similar in tenor to adjacent drill holes.
• WSF25-05R: 45.7 metres (0 to 45.7 m) grading 0.64 g/t AuEq. Oxide gold and silver mineralization beginning at the surface and correlates with adjacent Lahontan drill hole WSF25-06R.
  • The intercept includes 9.2 m (33.5 to 42.7 m) grading 1.29 g/t AuEq.
  • This drill hole is the northernmost completed by the company and precious metal mineralization remains open to the north and west.

Kimberly Ann, Lahontan executive chair, president, chief executive officer and founder, commented: "The drill results reported today confirm the northern extent of precious metal mineralization at West Santa Fe, and, when combined with the results from other Lahontan drill holes, now confirm gold and silver mineralization with a surface expression of 500 by 350 metres. Based on drilling to date, the thickness of the mineralization varies from about 35 to almost 60 metres, although folding may increase this thickness. The company has multiple drill sites permitted west, north and east of this central, outcropping, mineralized zone. Its early days and we are just beginning to identify the extents of the West Santa Fe system and understand the controls to both high-grade mineralization and disseminated, bedding controlled, gold and silver mineralization. We look forward to releasing the final results from the 2025 drill program shortly; planning is under way for follow-up drilling."

Cross section through drill hole WSF25-02R, West Santa Fe project, Nevada. The results from this drill hole compare favourably with historic drilling, both in the grade of gold mineralization and the geometry. The gently dipping geometry of the mineralized zone may allow for inexpensive, low strip ratio, open pit mining in the future.

QA/QC (quality assurance/quality control) protocols

Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and certified reference materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5 per cent of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5 per cent of the total samples.

The standards utilized include three gold CRM's and one blank CRM that were purchased from MEG LLC of Lamoille, Nev. (formerly Shea Clark Smith Laboratories of Reno, Nev.). Expected gold values are 0.188 g/t, 1.107 g/t, 10.188 g/t and negative 0.005 g/t, respectively. CRM's with similar grades are inserted as the initial CRM's run out. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of negative 0.005 g/t.

As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 to 30.48 m) mark and labelled with a D suffix on the sample bag. No duplicates were submitted for core.

All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nev., United States, for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium or 50-element analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of two hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration.

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 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 AuEq), 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 continue drilling the West Santa Fe project during 2026.

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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