Ms. Kimberly Ann reports

LAHONTAN DRILLS THICK, SHALLOW GOLD: 114M GRADING 0.33 G/T AU EQ AT YORK; 23M GRADING 0.42 G/T AU EQ AT SLAB

Lahontan Gold Corp. has released the first results from its 2025 phase 2 drilling program at the company's flagship Santa Fe mine project located in Nevada's prolific Walker Lane. Lahontan has received analytical results for six reverse circulation rotary drill holes totalling 994 metres (please see table below). Significant results include the following.

York: 114.3 metres (76.2 to 190.5 m) grading 0.33 gram per tonne gold equivalent in YOR25-004R, including 18.3 metres (172.2 to 190.5 m) grading 0.90 g/t AuEq: a shallow, thick, intercept of gold mineralization that expands the footprint of the York gold zone to the north of the current mineral resource pit shell, leaving gold mineralization open and unconstrained to the north by modern drilling.

Slab: 22.9 metres (19.8 to 42.7 m) grading 0.42 g/t AuEq in CAL25-009R: very shallow oxide gold that may pull the Slab pit shell deeper in an updated mineral resource estimate expected later this year.

Slab: 29.0 metres (97.5 to 126.5 m) grading 0.26 g/t AuEq in CAL25-010R: oxide gold mineralization below the current mineral resource pit shell, an additional opportunity to potentially deepen the Slab conceptual pit shell and capture additional gold resources in the MRE update.

Kimberly Ann, Lahontan executive chair, president, chief executive officer and founder, commented: "The Lahontan team is excited to receive the first analytical results from our phase 2 2025 drill program at Santa Fe. The drill results at York reinforce our interpretation that the York deposit continues to the north of the previously defined MRE and provides an excellent opportunity to further expand gold mineral resources at York. At Slab, the two drill holes targeting deeper extensions to known shallow oxide gold and silver mineralization were very successful. These drill results will be incorporated into an updated MRE for the entire Santa Fe mine project, expected in the coming months. We will be receiving additional analytical results for seven drill holes at Santa Fe and six drill holes at our West Santa Fe project over the coming weeks, so please stay tuned for further press releases."

Gold mineralization at York occurs as a bedding plane-controlled zone within the Triassic Luning formation limestone. The deep, high-grade intercept occurs along the York fault, and correlates with high-grade gold cut by YOR25-002R (18.3 metres grading 0.73 gram per tonne gold including 12.2 m grading 1.00 g/t Au, please see Lahontan press release dated Sept. 2, 2025). This high-grade zone extends to the north of the current York MRE and correlates with gold mineralization seen on the surface in jasperoid outcrops.

Drill holes CAL25-008R and 010R were designed to test for deeper, stacked zones of oxide gold mineralization at the south end of the Slab pit. Both drill holes cut oxide gold zones with gold grades similar to that reported in this portion of the Slab pit MRE. The other drill holes reported herein (CAL25-006R, 007R and 009R) were needed to define the suspected limits to shallow gold mineralization along the margin and bottom of the Slab deposit and better constrain potential pit boundaries for future mine planning.

Quality assurance/quality control protocols

Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and certified reference materials into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5 per cent of the total samples. CRMs were inserted at a rate of one CRM for every 20 samples or approximately 5 per cent of the total samples.

The standards utilized include three gold CRMs and one blank CRM that were purchased from MEG LLC of Lamoille, Nev. (formerly Shea Clark Smith Laboratories of Reno, Nev.). Expected gold values are 0.188 g/t, 1.107 g/t, 10.188 g/t and 0.005 g/t, respectively. CRMs with similar grades are inserted as the initial CRMs run out. The coarse blank material composed of commercially available landscape gravel with an expected gold value of 0.005 g/t.

As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 to 30.48 m) mark and labelled with a D suffix on the sample bag. No duplicates were submitted for core.

All drill samples were sent to American Assay Laboratories in Sparks, Nev., United States, for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using a 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing a two-acid digestion ICP-AES method. Tellurium or 50-element analyses were performed on select drill holes utilizing the ICP-MS method. Cyanide leach analyses, using a tumble time of two hours and analyzed with the ICP-AES method, were performed on select drill holes for gold and silver recovery. AAL inserts its own blanks and standards, and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. It has all results reported in grams per tonne.

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 oz AuEq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, 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 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.

We seek Safe Harbor.