Ms. Kimberly Ann reports

LAHONTAN STRENGTHENS TECHNICAL, ENGINEERING, AND BUSINESS DEVELOPMENT TEAM

Lahontan Gold Corp. has hired three new mining professionals to strengthen its management team as the company continues to evolve from mine developer to mine builder. The company is pleased to welcome Tony Gesualdo, vice-president, exploration; Michael Kubel, senior mine engineer; and Jen Earle, investor relations and business development.

Tony Gesualdo, vice-president, exploration

Mr. Gesualdo is a structural and economic geologist with extensive experience in the mining and exploration sectors across North America. His career includes early-stage exploration, resource development, open-pit expansion and underground production geology. Prior to rejoining Lahontan Gold, Mr. Gesualdo was senior exploration geologist at McEwen Inc., where he was responsible for identifying early-stage exploration targets and supporting advanced exploration and mine development projects in the United States and Canada. From 2020 to 2023, he served as exploration manager at Lahontan Gold, where he contributed significantly to the development of the initial mineral resource estimate for the Santa Fe mine project. His previous experience includes positions with Coeur Mining, Oceanagold, Barrick and several junior exploration companies.

Mr. Gesualdo holds a BSc in geology from the University of Georgia and an MSc in geology and geological engineering, with a concentration in structural geology, from South Dakota School of Mines and Technology. He has supported undergraduate geology field camps over multiple summers and serves on the board of the Geological Society of Nevada Foundation. Mr. Gesualdo is a certified professional geologist (CPG 12187) through the American Institute of Professional Geologists.

Michael Kubel, senior mine engineer

Mr. Kubel is a mining engineer with more than a decade of hands-on experience in Nevada open-pit gold mining and heap leach processing, including both active mining operations and mine restart projects. Since earning his mining engineering degree from the University of Nevada, Reno, in 2013, Mr. Kubel has developed broad experience in short- and long-term mine planning, surveying, geotechnical monitoring, heap leach pad design and management, and preparation of technical feasibility studies. His experience includes work at the Florida Canyon and Hycroft open-pit gold mines in Nevada.

Mr. Kubel is focused on improving operational efficiency and site safety, and brings expertise in applying emerging technologies and innovative solutions to open-pit gold mining.

Jen Earle, investor relations and business development

Ms. Earle brings two decades of experience in the natural resource sector, with extensive expertise in investor relations, capital markets and strategic investor engagement. Her career spans junior mining companies with assets across multiple jurisdictions, as well as a FTSE 250 oil and gas company, providing broad experience across the natural resources and international capital market sectors. Ms. Earle has developed an extensive global network of institutional and private investors, and has a strong understanding of reporting and disclosure requirements for companies listed on the London Stock Exchange, Australian Securities Exchange and Toronto Stock Exchange. Throughout her career, she has led and delivered capital market days, international field programs and global road shows, developing long-term relationships with investors, and helping companies effectively communicate their strategy, assets and growth opportunities.

Kimberly Ann, founder, executive chair, chief executive officer and president of Lahontan, commented: "We are very pleased to welcome Jen Earle and Michael Kubel to the Lahontan team and to welcome Tony Gesualdo back to the company. As we advance permitting for the Santa Fe mine and target a restart of production in 2027, we are building the technical, operational and business development capabilities required to take the company into its next phase of growth.

"Tony is a Lahontan veteran who previously managed our Santa Fe exploration team and made important contributions to the project's initial mineral resource estimate. His return in a senior leadership role adds significant geological and exploration expertise as we advance the Santa Fe mine and continue to evaluate opportunities to expand the company's resource base. Michael brings more than a decade of Nevada open-pit gold mining and heap leach experience, including mine planning, engineering and operational expertise. His practical experience will be particularly valuable as we move from permitting and mine planning toward construction and ultimately operations. We have known Jen for several years and are delighted to add her capital markets and investor engagement expertise to our team. Her international network and experience across the LSE, ASX and TSX markets will strengthen Lahontan's ability to communicate our strategy and growth opportunities to both institutional and private investors. Together, these additions significantly strengthen Lahontan's management team as we transition from mine developer to mine builder and operator while continuing to build a company with multiple avenues for long-term growth."

About Lahontan Gold Corp.

Lahontan is a Nevada-focused mine development company advancing a portfolio of four gold and silver projects in mining-friendly Nevada's prolific Walker Lane. The company's primary focus is the restart of its flagship, the 28.3-square-kilometre Santa Fe mine project, with a targeted return to production in 2027:

• Santa Fe mine historic production: 359,202 ounces of gold and 702,067 ounces of silver, open-pit mining with heap leach processing (1988 to 1995; Nevada Bureau of Mines);
• Current resources: the Santa Fe mine has a National Instrument 43-101-compliant indicated mineral resource of 1,195,000 ounces gold equivalent (47,532,000 tonnes grading 0.72 gram per tonne gold and 5.55 g/t silver, together grading 0.78 g/t gold equivalent) and an inferred mineral resource of 1.19 million oz AuEq (60,605,000 tonnes grading 0.59 g/t Au and 2.40 g/t Ag, together grading 0.61 g/t AuEq), all pit constrained (AuEq is inclusive of recovery, please see Santa Fe project technical report*).
• Objectives 2026:
  • Complete an updated preliminary economic assessment for the Santa Fe mine, including the first analysis of mining and processing sulphide resources;
  • Advancing mine permitting activities with the objective of commencing construction in 2027;
  • Continue drill testing the satellite West Santa Fe project, with a maiden resource estimate targeted by year-end;
  • Conduct exploration drilling at Santa Fe focused on expanding known gold and silver mineralization;
  • Drill test historic heap leach pads to evaluate residual gold and silver mineralization for potential future reprocessing opportunities.

* Please see the "Updated Mineral Resource Estimate, NI 43-101 Technical Report, Santa Fe Project," authors: Michael S. Lindholm, CPG, and Thomas Dyer, PE; effective date: Aug. 13, 2026, report date: maximum 45 days from Aug. 17, 2026. The technical report will be available on the company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.10 g/t AuEq for oxide and transition resources and 0.30 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 $3,250 (U.S.) per ounce gold, silver price of $40 (U.S.) per oz silver, and oxide gold recoveries ranging from 60 per cent to 79 per cent, oxide silver recoveries ranging from 0 per cent to 30 per cefnt, transitional gold recoveries ranging from 28 per cent to 45 per cent, transitional silver recoveries ranging from 0 per cent to 13 per cent, and non-oxide gold and silver recoveries of 68 per cent except for the York deposit, where non-oxide recoveries are estimated to be 0 per cent.

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 senior vice-president, mine development and 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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