Ms. Kimberly Ann reports

LAHONTAN REPORTS PROGRESS ON SANTA FE PLAN OF OPERATION

Lahontan Gold Corp. has provided an update on its exploration plan of operations (EPOO) for the Santa Fe mine project that was submitted to the U.S. Bureau of Land Management (BLM) in November, 2024. Based on a recent meeting with BLM personnel, the company expects the BLM to issue a formal completeness determination for the EPOO, allowing the permitting process to enter the NEPA (National Environmental Policy Act) phase shortly. Final approval of the EPOO remains on track for late 2025. In the interim, Lahontan can continue exploration drilling at the Santa Fe mine under a notice of intent (NOI) and on its patented mining claims.

Kimberly Ann, chief executive officer, chair and founder of Lahontan Gold, commented: "Lahontan is pleased with the progress that the BLM has made with its review of the Santa Fe Mine EPOO. When approved, the EPOO will permit up to 750 drill holes at Santa Fe, allowing the company to unlock the exploration potential of the project. In the meantime, Lahontan will be able to continue resource expansion and metallurgical drilling programs under a NOI, continuing to advance Santa Fe towards mine development."

Of the eight environmental baseline reports in the EPOO, the BLM had no comments on four reports (biology, social and economic values, paleontology, and visual resources). The company has addressed BLM comments on three of the baseline reports (raptors, surface hydrology, air quality) and will submit a response to BLM comments on the cultural resources report this week. Lahontan is looking forward to a finding of no significant impact (FONSI) and formal approval of the EPOO late this year.

About Lahontan Gold Corp.

Lahontan Gold is a Canadian mine development and mineral exploration company that holds, through its U.S. subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining-friendly Nevada. Lahontan's flagship property, the 26.4-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 (grading 0.99 gram per tonne gold equivalent) and an inferred mineral resource of 411,000 ounces gold equivalent (grading 0.76 gram per tonne gold equivalent), all pit constrained (gold equivalent 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.

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