Ms. Kimberly Ann reports

LAHONTAN ANNOUNCES CFO TRANSITION ON ANTICIPATION OF SANTA FE MINE DEVELOPMENT

Lahontan Gold Corp. has hired Billy Choi as its new chief financial officer (CFO). It is expected that Mr. Choi will assume full CFO responsibilities in October 2026 following a transition period. The company would like to thank its current CFO, John McNeice, for his years of service to Lahontan and wishes him all the best in his future endeavours.

Billy Choi, chief financial officer

Mr. Choi brings extensive public-company finance, capital markets and transaction experience to the company. Most recently, he served as vice-president of finance at Lithium Royalty Corp. (LRC), where he played an integral role in the company's successful IPO (initial public offering) and transition to becoming a publicly traded company. His responsibilities included leading key aspects of financial reporting and prospectus readiness, strengthening internal controls and financial processes, and helping build the finance infrastructure required to support a growing public company.

During his tenure at LRC, Mr. Choi worked closely with senior management, auditors, legal counsel, and other external advisers on public-company reporting, regulatory requirements and corporate transactions. He also contributed to the continued development of LRC's financial planning, reporting systems, governance processes, and internal controls as the company expanded its portfolio and operations.

Following LRC's acquisition by Altius Minerals, Mr. Choi was actively involved in the postclosing transition and integration process, providing him with valuable experience across the full corporate life cycle -- from IPO preparation and public-company operations through to a strategic acquisition and subsequent integration.

His combination of hands -- on financial leadership, public-market experience, transaction execution and experience building scalable finance functions will be particularly valuable as the company continues to grow and advance its corporate and development objectives. Mr. Choi holds a bachelor of business administration degree from the University of Toronto and the CPA, CA designation.

Kimberly Ann, founder, executive chair, chief executive officer and president of Lahontan Gold, commented: "We are delighted to welcome Billy Choi as our new, full-time, CFO. As we advance permitting for the Santa Fe mine and target a restart of production in 2027, we are building a financial management team with the operations experience required to take the company into its next phase of growth. Billy has already begun working for the company, initiating the transfer of CFO responsibilities and reporting protocols to his management. We of course extend our thanks to John McNeice for his service to the company since its inception and for assisting through the transition period. We wish all the best going forward."

About Lahontan Gold Corp.

Lahontan Gold 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 AuEq (47,532,000 tonnes grading 0.72 g/t Au and 5.55 g/t Ag, together grading 0.78 g/t AuEq) 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 and note below).
• Objectives 2026:
  • Complete an updated preliminary economic assessment (PEA) 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.

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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