Ms. Kimberly Ann reports

LAHONTAN EXPANDS SANTA FE MINE LAND PACKAGE BY ALMOST 40% TO OVER 26.4 KM(2)

Lahontan Gold Corp. has significantly expanded its landholdings at its flagship Santa Fe mine project by staking 98 unpatented lode mining claims covering over 7.5 square kilometres. The newly staked claims cover possible extensions to the Slab gold and silver resources, other exploration targets covered by young gravel, and a vast area of flat terrain that could be suitable for mine infrastructure such as heap leach pads and waste rock dumps.

Kimberly Ann, Lahontan founder, chief executive officer, president, and director, commented: "The opportunistic staking of these claims gives Lahontan needed space for future mine infrastructure as well as covering logical extensions of known gold and silver mineralization in the Slab-Calvada area. While other companies are struggling under the current market conditions, Lahontan is fully financed and taking advantage of opportunities to grow our projects when the situation presents itself. The Santa Fe mine now covers over 26.4 square kilometres adding to the 64.1 square kilometres the company controls in Nevada's prolific Walker Lane. Lahontan will continue preparing its West Santa Fe project for drilling in 2024, completing its plan of operation for the Santa Fe mine, and targeting a PEA [preliminary economic assessment] for Santa Fe in 2024."

Newly staked unpatented lode mining claims at Lahontan Gold's Santa Fe mine project, Mineral county, Nevada

The 98 new claims total 7.5 square kilometres and cover potential extensions to gold and silver resources in the Slab-Calvada area as well as flat terrain suitable for future mine infrastructure.

About Lahontan Gold Corp.

Lahontan Gold Corp. is a fully financed Canadian mine development and mineral exploration company that holds, through its U.S. subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4-square-kilometre Santa Fe mine, had past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe mine has Canadian National Instrument 43-101 compliant indicated mineral resource of 1,112,000 ounces gold equivalent (grading 1.14 grams per ton gold equivalent) and an inferred mineral resource of 544,000 ounces gold equivalent (grading 1.00 g/t gold equivalent), all pit constrained. The company will continue to aggressively explore Santa Fe during 2023 and begin the process of evaluating development scenarios to bring the Santa Fe mine back into production.

Anthony Gesualdo, CPG, consulting geologist to Lahontan Gold, is the qualified person for the company and approved the technical content of this news release.

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