Ms. Kimberly Ann reports

LAHONTAN SUBMITS NOTICE OF INTENT FOR ADDITIONAL DRILLING AT SANTA FE

Lahontan Gold Corp. has submitted an amended notice of intent (NOI) to the U.S. Bureau of Land Management (BLM) for additional exploration and resource definition drilling at its Santa Fe mine project, located in Nevada's prolific Walker Lane gold belt. The NOI proposes eight additional drill sites from which multiple drill holes can be completed. The amended NOI provides planning flexibility for the upcoming drill program, adding additional sites to those already permitted. The company expects approval of the NOI shortly.

Kimberly Ann, Lahontan Gold executive chair, president, chief executive officer and founder, commented: "Lahontan is eager to begin its 2025 exploration and resource definition drilling program at Santa Fe. Our geologic team has identified several areas in the Slab and York resource areas, where carefully targeted drilling can add geologic data and also provide material for additional metallurgical test work. The company expects to mobilize a drill rig soon after we receive approval of the NOI from the BLM."

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 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 (oz) gold equivalent (AuEq) (grading 0.99 gram per tonne (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 the 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.

* 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, report date: Jan. 24, 2025. The technical report is available on the company's website and SEDAR+.

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