Ms. Kimberly Ann reports

LAHONTAN GOLD ANNOUNCES FILING OF SANTA FE PRELIMINARY ECONOMIC ASSESSMENT & TECHNICAL REPORT

Lahontan Gold Corp. has filed on SEDAR+ an independent technical report and preliminary economic assessment titled "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project," effective Dec. 10, 2024, and dated Jan. 24, 2025, for Lahontan's Santa Fe mine gold and silver project, Santa Fe district, Mineral county, Nevada. The technical report was prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and supports the disclosure made by the company in its Dec. 11, 2024, news release announcing the results of the PEA. There are no material differences in the technical report from the information disclosed in the Dec. 11, 2024, news release. The technical report is available for download under the company's profile on SEDAR+ and is also available on the company's website.

About Lahontan Gold Corp.

Lahontan 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 Canadian National Instrument 43-101-compliant indicated mineral resource of 1,539,000 ounces gold equivalent (grading 0.99 gram per tonne 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*).

* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project," authors: Kenji Umeno, PEng, Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, PGeo, Darcy Baker, PhD, PGeo, and John M. Young, SME-RM; effective date: Dec. 10, 2024, and report date: Jan. 24, 2025. The technical report is available on the company's website and SEDAR+.

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