Lahontan Gold drills 90 m of 0.23 g/t Au at Santa Fe

Executive Summary

• Lahontan Gold reported significant oxide‑gold intercepts from its 2025 Phase 1 reverse‑circulation drilling program at the York and Slab areas of the Santa Fe project in Nevada.
• York hole YOR25‑001R intersected 89.9 m @ 0.23 g/t Au (shallow, thick oxide zone) and YOR25‑002R intersected 18.3 m @ 0.73 g/t Au (including 12.2 m @ 1.00 g/t Au).
• Slab hole CAL25‑004R returned 39.6 m @ 0.30 g/t Au (plus 1.2 g/t Ag), defining a new stacked oxide horizon below the existing open‑pit resource.

Key Details

• Drilling Scope: 7 RC holes, total 1,210 m (York = 2 holes; Slab = 5 holes).
• York – Hole YOR25‑001R: 89.9 m (45.7–135.6 m) @ 0.23 g/t Au oxide; expands York footprint and confirms down‑dip continuity along the Columbia fault.
• York – Hole YOR25‑002R: 18.3 m (141.7–160.0 m) @ 0.73 g/t Au, including 12.2 m @ 1.00 g/t Au; bottomed in oxide mineralization, open up‑ and down‑dip and along strike.
• Slab – Hole CAL25‑004R: 39.6 m (67.1–106.7 m) @ 0.30 g/t Au and 1.2 g/t Ag (≈0.31 g/t AuEq); located directly below the Slab open pit, indicating potential to expand the conceptual pit shell.
• Other Slab Holes (CAL25‑001R to CAL25‑003R): All intersected oxide gold; further drilling required to delineate targets for resource expansion.
• Interpretation: Intercepts suggest sizable, shallow oxide zones that are open in multiple directions, supporting a larger pit‑constrained resource at both York and Slab.
• Future Plans: Design of Phase 2 drilling program targeting additional extensions at York and Slab slated for fall 2025.
• QA/QC Protocols: Inserted blanks & certified reference materials (CRMs) at ~1 per 16‑20 samples; CRM grades: 0.188, 1.107, 10.188 g/t Au and –0.005 g/t Au blank. Duplicate sampling every 20th interval; analyses performed by American Assay Laboratories using fire assay/ICP methods.
• Management Comment (Kimberly Ann, CEO/Executive Chair): Emphasized excitement over thick, shallow oxide intercepts at York and the upside from recent land acquisition; confirmed ongoing planning for fall drilling campaign.

Notable Quotes

“Lahontan is excited with the results from phase one drilling at Santa Fe. In particular, the results from the York area, thick, shallow intercepts of oxide gold mineralization, highlight the tremendous upside potential of York, amplified by the recent expansion of our land package at York.” – Kimberly Ann, CEO & Executive Chair.