Ms. Kimberly Ann reports

LAHONTAN PLANS 6,300 METRES OF DRILLING FOR WEST SANTA FE

Lahontan Gold Corp. has completed planning for its 2025 phase one drilling program for its West Santa Fe gold and silver project located only 13 kilometres from its flagship Santa Fe mine project in Nevada's prolific Walker Lane. Lahontan is planning to drill 26 reverse circulation (RC) drill holes in order to validate historic drilling and test numerous stepout targets adjacent to the area of historic drilling. Previous drilling at West Santa Fe totalled over 13,000 metres in 171 drill holes. The historic drilling defines a zone of shallow, oxidized, gold and silver mineralization that the company believes could form the basis of minable mineral resource as defined in National Instrument 43-101.

Kimberly Ann, Lahontan Gold chief executive officer, chair and founder, commented: "Lahontan is excited to begin drill testing the large gold and silver mineralized hydrothermal system at West Santa Fe. The company has modeled historic drilling at West Santa Fe and believes the project has the potential to host a significant gold and silver resource to augment the resources already defined at our flagship Santa Fe mine project. The potential to add shallow oxide gold and silver resources at West Santa Fe, only 13 kilometres from the Santa Fe mine, fits perfectly with our plan to continue to grow our projects in size and scale, thus improving overall project economics, as rapidly as possible".

Lahontan plans to permit the phase one drilling program under a notice of intent to be submitted to the Bureau of Land Management (BLM) shortly. The drill program will largely use existing roads at West Santa Fe for access and drill platforms, generating minimal surface disturbance.

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 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe mine has a Canadian National Instrument 43-101-compliant indicated mineral resource of 1,539,000 ounces AuEq (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*). The company plans to continue advancing the Santa Fe mine project toward production, update the Santa Fe preliminary economic assessment and drill test its satellite West Santa Fe project during 2025. The technical content of this news release and the company's technical disclosure has been reviewed and approved by Michael Lindholm, PGeo, independent consulting geologist to Lahontan Gold, who is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Lindholm was not an author for the technical report* and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the 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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