Ms. Kimberly Ann reports

LAHONTAN DRILLS 31M GRADING 0.90 G/T AU OXIDE AT CALVADA CENTRAL

Lahontan Gold Corp. has released additional drill results from its 2026 drilling program at the Santa Fe mine project. The drill results reported herein include 188 metres of diamond drilling at Calvada Central, which were originally designed to collect geotechnical data related to mine permitting but also intercepted significant gold mineralization. Two additional reverse circulation (RC) drill holes, totalling 636 metres, were drilled at the southern end of the Slab open pit in order to constrain mineralization against the Calvada fault. Significant results are summarized below:

• Calvada: Drill hole CAL26-03C, a diamond drill hole originally designed to gather geotechnical data for mine permitting, intersected 30.8 metres (94.8 to 125.6 m) grading 0.93 gram per tonne gold equivalent oxide near the base of the current resource pit shell. This includes a 10.7-metre interval (114.0 to 124.7 m) of high-grade material: 2.18 g/t AuEq.
• South Slab open pit: Two RC drill holes, designed to constrain gold mineralization against the Calvada fault, intersected outcropping oxide gold mineralization: 15.2 metres grading 0.40 g/t AuEq (CAL26-06R; zero to 15.2 m) and 9.1 metres grading 0.22 g/t AuEq (zero to 9.1 m).

Kimberly Ann, founder, chair, chief executive officer and president of Lahontan Gold, commented: "This outstanding drill intercept, which includes some of the highest gold grades drilled to date within the Central Calvada deposit, reinforces the importance of the Calvada resource to the Santa Fe mine project. Once again, a drill hole originally planned to collect geotechnical data, in support of mine permitting, was carefully designed by our team to also intersect the core of the Central Calvada gold deposit, delivering excellent gold grades. This high-grade oxide gold intercept further strengthens our confidence as we continue advancing the Santa Fe mine project toward anticipated mine construction in 2027. Additional drill results from both the ongoing RC drilling program and the sonic drilling program targeting stockpiles and historic heap-leach pads are expected shortly."

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 (CRMs) 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 minus 0.005 g/t, respectively. CRMs with similar grades are inserted as the initial CRMs run out. The coarse blank material comprised commercially available landscape gravel with an expected gold value of minus 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-metre) 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 (AAL) 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 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two-acid-digestion ICP-AES method. Tellurium or 50-element analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of two hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts its own blanks and standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. The company has all results reported in grams per tonne.

About Lahontan Gold Corp.

Lahontan Gold is a Nevada-focused mine development company advancing a portfolio of four gold and silver projects in mining-friendly Nevada's prolific Walker Lane. The company's primary focus is the restart of its flagship, the 28.3-square-kilometre Santa Fe mine project, with a targeted return to production in 2027:

• Santa Fe historic production: 359,202 ounces of gold and 702,067 ounces of silver, open-pit mining with heap-leach processing (1988 to 1995; Nevada Bureau of Mines);
• Current resources: the Santa Fe mine has a National Instrument 43-101-compliant indicated mineral resource of 1,539,000 ounces 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 ounces 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);
• Objectives for 2026:
  • Complete an updated mineral resource estimate (MRE) and preliminary economic assessment (PEA) for the Santa Fe mine;
  • Advancing mine-permitting activities with the objective of commencing construction in 2027;
  • Continue drill testing the satellite West Santa Fe project, with a maiden resource estimate targeted by year-end;
  • Conduct exploration drilling at Santa Fe focused on expanding known gold and silver mineralization;
  • Drill test historic heap-leach pads to evaluate residual gold and silver mineralization for potential future reprocessing opportunities.

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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