Ms. Kimberly Ann reports

LAHONTAN TO DRILL HISTORIC SANTA FE HEAP LEACH PADS FOR RESIDUAL GOLD & SILVER

Lahontan Gold Corp. will soon commence drill testing the historic heap-leach (HL) pads at the company's Santa Fe gold mine project, located in Nevada's prolific Walker Lane. Full permits to drill the HL pads are expected shortly; when received, Lahontan will mobilize a Boart Longyear LS 450 sonic core drill rig and support crew to the Santa Fe mine.

From 1988 through 1994, the Santa Fe mine produced approximately 359,000 ounces of gold and 700,000 ounces of silver from 16.0 million tonnes of mineralized material. Factoring in estimated gold and silver recovery, the historic HL pads may contain a significant gold and silver resource. The potential of reprocessing the historic HL material at very low cost, already crushed and requiring no stripping, may augment the robust preliminary mine economics already demonstrated for the Santa Fe mine project.

Lahontan plans to drill 95 sonic core holes totalling 1,740 metres across the four historic HL pads. Core drill hole spacing will be approximately 30 metres, sufficient to generate an inferred mineral resource if core drilling confirms historic production data. HL pads, created by crushing and stacking relatively uniform-grade material, tend to show less variability in gold and silver grade distribution than naturally occurring materials.

Kimberly Ann, founder, chair, chief executive officer and president of Lahontan Gold, commented: "We are excited to begin the resource evaluation of the historic Santa Fe HL pads, yet another potentially exploitable gold and silver resource that can enhance future mine economics at Santa Fe. We are proud of the results of our 2025 preliminary economic assessment (PEA) of the Santa Fe mine, but, for Lahontan, the PEA was just a starting point, a benchmark from which we could grow the company, both in terms of potential future gold and silver production, but more importantly, potential cash flow and profits that reward our shareholders. This drill program, which will evaluate the upside potential of the historic HL pads, is a classic example of our disciplined approach: We take advantage of every opportunity, be it resource expansion drilling, growing our property position, metallurgical testing and, of course, higher metal prices. By utilizing each and every tool available, we intend to enhance the Santa Fe mine project, building the foundation of the future Lahontan Gold Corp. -- a profitable mid-tier gold and silver producer focused on Nevada's Walker Lane."

About Lahontan Gold Corp.

Lahontan Gold 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 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 grams per tonne silver, together grading 0.99 g/t AuEq) and an inferred mineral resource of 411,000 ounces 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 note below). The company plans to continue advancing the Santa Fe mine project toward production, update the Santa Fe preliminary economic assessment and continue drill testing its satellite West Santa Fe project during 2026.

Note: 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, Dr. 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+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the mineral resources is based on the following assumptions: gold price of $1,950 (U.S.) per ounce gold, silver price of $23.50 (U.S.) per ounce silver, and oxide gold recoveries ranging from 28 per cent to 79 per cent, oxide silver recoveries ranging from 8 per cent to 30 per cent, and non-oxide gold and silver recoveries of 71 per cent.

Qualified person

Brian J. Maher, MSc, CPG (No. 12342), is a qualified person as defined under NI 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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