Ms. Kimberly Ann reports

LAHONTAN RECIEVES $4,316,948 FROM THE EXERCISE OF WARRANTS AND OPTIONS

Lahontan Gold Corp. has received $4,316,948 from the exercise of warrants and stock options during the period July 4 through Oct. 23, 2025. Following the exercise of the warrants, stock options and the issuance of shares associated with the purchase of the York unpatented mining claims at the Santa Fe mine project (please see press release dated Oct. 23, 2025), the company had 334,420,221 common shares issued and outstanding. The funds will be used for exploration and mine development work at the company's projects in Nevada's Walker Lane gold belt and for general corporate purposes.

Kimberly Ann, chair, chief executive officer, president and founder of Lahontan Gold, commented: "The exercise of such a significant number of warrants and options over the last four months is evidence of incredible shareholder support for the company's vision and business plan to continue advancing the Santa Fe mine project towards production. The receipt of these funds leaves the company fully financed for the planned fall drilling programs at both Santa Fe and West Santa Fe, which we expect to commence shortly. The exercise of these warrants and options also tightens the company's share structure, positioning Lahontan for future growth and value creation".

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 28.3-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) (48,393,000 tonnes grading 0.92 gram per tonne) Au (gold) and 7.18 g/t Ag (silver), together grading 0.99 g/t AuEq) 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). 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.

Qualified person

Brian J. Maher, MSc, CPG-12342, is a qualified person as defined under Canadian National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all disclosure other than the mineral resource estimate as noted above. Mr. Maher is vice-president of exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, analytical and test data underlying the disclosure.

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