Ms. Kimberly Ann reports

LAHONTAN ANNOUNCES PRIVATE PLACEMENT OF COMMON SHARES

Lahontan Gold Corp. has arranged a non-brokered private placement financing for gross proceeds of up to $720,000 through the issuance of up to 36 million common shares in the capital of the company at a price of two cents per common share. The offering is nearly fully subscribed by existing major shareholders.

Gross proceeds raised from the offering will be used for general working capital purposes as follows: (i) approximately 29 per cent will be used for general and administrative purposes; (ii) approximately 29 per cent will be used for exploration at the company's Santa Fe mine project; (iii) approximately 17 per cent will be used for metallurgical testing and supporting consultants for the company's Santa Fe mine project; and (iv) approximately 25 per cent will be used at the company's Santa Fe Mine project for exploration permitting. Less than 10 per cent of the proceeds from the offering will be used for payments to non-arm's-length parties of the company other than normal course compensation of its officers, directors, employees and consultants as part of general working capital purposes or to persons conducting investor relations activities.

Closing of the offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

About Lahontan Gold Corp.

Lahontan Gold is a 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 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 National Instrument 43-101 compliant indicated mineral resource of 1,539,000 ounces gold equivalent (grading 0.99 gram per tonne gold equivalent) and an inferred mineral resource of 411,000 ounces gold equivalent (grading 0.76 gram per tonne gold equivalent) -- all pit constrained (gold equivalent is inclusive of recovery; please see Santa Fe project technical report).

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