Lahontan drills 23 m of 0.42 g/t AuEq at Slab

Executive Summary

• Lahontan Gold Corp. released initial analytical results from its 2025 Phase 2 drilling program at the Santa Fe mine project in Nevada, covering six reverse circulation rotary drill holes totaling 994 meters.
• Significant intercepts were identified at the York and Slab zones, expanding the known mineralization footprint and identifying opportunities to deepen pit shells in the upcoming Mineral Resource Estimate (MRE).
• York results show a thick, shallow intercept (114.3m at 0.33 g/t AuEq) that extends the deposit north of the current resource pit shell, while Slab results identified shallow oxide gold and deeper stacked oxide zones.

Key Details

• York Zone (YOR25-004R):
  • 114.3 metres grading 0.33 g/t AuEq (from 76.2m to 190.5m).
  • Includes high-grade interval: 18.3 metres grading 0.90 g/t AuEq (from 172.2m to 190.5m).
  • Significance: Expands the York gold zone footprint to the north of the current mineral resource pit shell; mineralization remains open and unconstrained to the north.
• Slab Zone (CAL25-009R):
  • 22.9 metres grading 0.42 g/t AuEq (from 19.8m to 42.7m).
  • Significance: Very shallow oxide gold intercept; potential to pull the Slab pit shell deeper in the updated MRE.
• Slab Zone (CAL25-010R):
  • 29.0 metres grading 0.26 g/t AuEq (from 97.5m to 126.5m).
  • Significance: Oxide gold mineralization located below the current mineral resource pit shell; opportunity to deepen the conceptual pit shell and capture additional resources.
• Additional Drill Holes:
  • CAL25-008R and CAL25-010R tested for deeper, stacked zones of oxide gold at the south end of the Slab pit, cutting zones with grades similar to the existing MRE.
  • CAL25-006R, CAL25-007R, and CAL25-009R were designed to define limits to shallow gold mineralization along the margin and bottom of the Slab deposit to constrain future pit boundaries.
• Future Work:
  • Additional analytical results are expected for seven drill holes at Santa Fe and six drill holes at the West Santa Fe project in the coming weeks.
  • An updated Mineral Resource Estimate (MRE) for the entire Santa Fe mine project is expected later this year.
• Geological Context:
  • York mineralization is bedding-plane-controlled within the Triassic Luning formation limestone.
  • High-grade intercept correlates with the York fault and surface jasperoid outcrops.
• QA/QC Protocols:
  • Samples analyzed by American Assay Laboratories (Sparks, Nev.).
  • Methods: 30-gram fire assay with ICP finish for Au; 36-element geochemistry via two-acid digestion ICP-AES.
  • QA/QC insertion rates: 1 blank per 65 samples (~1.5%), 1 CRM per 20 samples (~5%), 1 duplicate per 20 samples.

Notable Quotes

• "The Lahontan team is excited to receive the first analytical results from our phase 2 2025 drill program at Santa Fe. The drill results at York reinforce our interpretation that the York deposit continues to the north of the previously defined MRE and provides an excellent opportunity to further expand gold mineral resources at York." — Kimberly Ann, Executive Chair, President, CEO, and Founder.