Ms. Kimberly Ann reports

LAHONTAN MOBILIZES DRILL RIG TO THE SANTA FE MINE

Lahontan Gold Corp. has mobilized a track-mounted reverse circulation drill rig and crew to its flagship Santa Fe mine project in Nevada's gold and silver-rich Walker Lane. The MPD-1500 RVC track-mounted drill rig will focus on infill drilling, upgrading gold and silver resources from the inferred to indicated category, and expanding overall resource numbers at the Slab and York areas of the Santa Fe mine. The drilling program will consist of up to 25 drill holes totalling 4,000 metres, targeting shallow oxide gold and silver mineralization.

Kimberly Ann, Lahontan executive chair, founder, chief executive officer and president, commented: "Lahontan is excited to begin its fall 2025 drilling program at the Santa Fe mine. Utilizing the results from our phase 1 2025 drill program, the geologic team has carefully targeted multiple areas at the Slab and York deposits, where gold and silver resources can be upgraded and expanded. The drill program is vital as the company pivots from resource definition to mine planning and permitting in 2026. Combined with ongoing metallurgical testing, this drilling program sets the stage for detailed mine scheduling, planning and the mine permitting process. Brian Maher, our vice-president, exploration, and co-founder of Lahontan, is personally overseeing the drill program: At Lahontan Gold Corp., it's all hands on deck."

About Lahontan Gold Corp.

Lahontan is a Canadian mine development and mineral exploration company that holds, through its U.S. subsidiaries, four 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 gold equivalent (48,393,000 tonnes grading 0.92 gram per tonne gold and 7.18 g/t silver, together grading 0.99 g/t AuEq) and an inferred mineral resource of 411,000 oz AuEq (16.76 million tonnes 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 the 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.

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 technical disclosure other than the mineral resource estimate as noted above. Mr. Maher is vice-president, 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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