Ms. Kimberly Ann reports

LAHONTAN PROVIDES UPDATE ON TRANSFER OF VICTORIA GOLD SHARES

During a court hearing yesterday before the Ontario Superior Court of Justice, a judgement was issued allowing the receiver, PricewaterhouseCoopers (PwC), to proceed with the transfer of common shares of the company that were previously held by Victoria Gold Corp., now under control of PwC. The company has been in contact with a group of Lahontan institutional and private investors in order to facilitate an orderly transfer of the Victoria shares. The company anticipates that the transfer will take place shortly, relieving an overhang on Lahontan equity investors.

Kimberly Ann, Lahontan executive chair, chief executive officer, president and founder, commented: "This is an important step towards placing the Victoria shares in the hands of secure, long-term investors. The company looks forward to the resolution of this matter and moving on in executing our strategy of advancing the Santa Fe mine towards production."

About Lahontan Gold Corp.

Lahontan Gold is a Canadian mine development and mineral exploration company that holds, through its United States 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 project, had past production of 356,000 ounces of gold and 784,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Division of Minerals). The Santa Fe mine has a Canadian National Instrument 43-101-compliant indicated mineral resource of 1,539,000 oz AuEq (grading 0.99 g/t AuEq) and an inferred mineral resource of 411,000 oz AuEq (grading 0.76 g/t AuEq), all pit constrained (AuEq is inclusive of recovery, please see Santa Fe project technical report).

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