Lahontan Drills Thick, Shallow Oxide Gold at West Santa Fe: 55m Grading 1.00 g/t AuEq Including 17m Grading 1.75 g/t AuEq

The most recent news release (February 5, 2026) reports the first assay results from a maiden Reverse-Circulation (RC) drilling program at the West Santa Fe project in Nevada. Key results from hole WSF25-06R include 54.9 metres grading 1.00 g/t AuEq (Gold Equivalent) starting from 24.4 metres depth, including a higher-grade interval of 16.8 metres at 1.75 g/t AuEq. The release emphasizes that these results validate a historical database of 171 drill holes and confirm the existence of thick, shallow oxide gold mineralization.

The impact is positive but categorized as routine for several reasons: - Validation vs. Discovery: The results largely confirm what was indicated in the 13,000-metre historical database. While essential for building a NI 43-101 compliant resource, it is not a "new" discovery in the traditional sense. - Satellite Focus: West Santa Fe is a satellite project 13km from the flagship Santa Fe Mine. While it adds to the district-scale story, the market is currently more focused on the updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) for the flagship project. - Grade and Scale: 1.00 g/t over 55m is a respectable oxide intercept in Nevada, but it aligns with previous expectations for the project's "exploration target" of 0.5–1.0M ounces. It does not yet necessitate a fundamental re-valuation of the company beyond its current trajectory.

Lahontan Gold Corp. is focused on the Walker Lane gold belt in Nevada. - Flagship Project: The Santa Fe Mine, a past-producing open-pit heap leach operation (1988–1995). - Resources: Currently hosts an Indicated Resource of 1.11M oz AuEq and an Inferred Resource of 0.54M oz AuEq (2022 estimate). - Strategy: Aggressively expanding oxide gold resources at the flagship and nearby satellite projects (West Santa Fe, Moho, Redlich) to restart mining operations.