Ms. Kimberly Ann reports

BLM DETERMINES SANTA FE PLAN OF OPERATIONS COMPLETE, PREPARES TO ENTER NEPA

Lahontan Gold Corp. has received notice from the Federal Bureau of Land Management (the BLM) that Lahontan's exploration plan of operations (POO) has been determined to be complete and Santa Fe mine project can now enter full environmental assessment (the EA) under the National Environmental Protection Act (NEPA). The determination means that all the environmental baseline studies used in the POO are complete, including studies of biological, cultural and historical resources, culminating over two years of study and documentation at Santa Fe. Importantly, these studies can be used in any future environmental assessment of the project including a mine plan of operations. The POO would allow for exploration on over 12 square kilometres of the project and includes over 700 drill sites. The company anticipates completing the NEPA process and receiving final approval of the POO in Q4 2025 allowing for a robust drilling campaign in 2026.

Kimberly Ann, Lahontan Gold chief executive officer, executive chair and founder, commented: "Lahontan is pleased to receive notice from the BLM that our Santa Fe exploration project POO has been determined to be complete, and we can now head towards the completion of an EA under NEPA. The ability to explore throughout the project area will give the company the opportunity to unlock the tremendous untapped potential of the project while simultaneously continuing to develop plans to bring the Santa Fe mine back into production. We look forward to working hand in hand with the BLM and our permitting consultants and completing the NEPA process in a timely manner."

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 oz AuEq (gold equivalent) (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an inferred mineral resource of 411,000 oz AuEq (16.76 million grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t AuEq), all pit constrained (AuEq is inclusive of recovery, please see Santa Fe project technical report and note below). 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, CPG, 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.

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