Lahontan Gold Corp. (TSX-V: LG) (OTCQB: LGCXF) (FSE: Y2F) is pleased to announce that the Company has received approval from the Federal Bureau of Land Management for additional drill sites at its flagship Santa Fe Mine project in Nevada’s prolific Walker Lane.  The BLM approved an amendment to Lahontan’s Notice of Intent for drill sites on unpatented lode mining claims located on BLM administered Federal lands at Santa Fe.  The drill holes will allow the Company to test significant extensions to the known gold and silver resources in the Slab and York areas of the project.   Drilling in these areas will commence shortly as part of Phase One of Lahontan’s 2025 drilling program at Santa Fe.

Kimberly Ann, Lahontan Gold Corp CEO, Executive Chair, and Founder commented: “The Company is excited to receive approval of its amended NOI from the BLM. We appreciate the efficiency of the BLM in processing the amendment.  We can now complete our proposed drill holes in an efficient manner, minimizing moving distance between holes, whether on patented or unpatented lode mining claims. These proposed drill holes target exciting step outs from previous high-grade gold and silver intercepts north of the Slab resource area and in the York resource area.  Lahontan has already completed several drill holes at Santa Fe and has submitted samples for geochemical analysis.  We expect to have initial assay results in the coming weeks”.

About Lahontan Gold Corp

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 26.4 km² Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067ounces 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 Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq 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 towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael Lindholm, P.Geo., Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101 — Standards of Disclosure for Mineral Projects. Mr. Lindholm was not an author for the Technical Report* and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the Technical Report. For more information, please visit our website: www.lahontangoldcorp.com

* Please see the “Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project”, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 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 US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30% and non-oxide gold and silver recoveries of 71%.