Lahontan Gold Corp. · TSXV:LG
Lahontan Gold — Investor Presentation (May 2025)
26 slides from Lahontan Gold's investor presentation, May 2025
Slide 1: Nevada's Santa Fe Gold Mine: On Track to Production
M AY 2 0 2 5 Nevada’s Santa Fe Gold Mine: On Track to Production
Slide 2: Disclaimers
Disclaimers Information Contained In This Presentation This presentation (the “Presentation”) has been prepared by Lahontan Gold Corp. (the “Company”) solely for informational purposes. None of the Company, its affiliates or any of their respective employees, directors, officers, contractors, adviso
Slide 3: Lahontan Corporate Snapshot
L A H O N TA N CO R PO R AT E S NA P S H OT SHARE STRUCTURE Proforma Shares Outstanding (Shares) 284.9 M LAHONTAN Market Capitalization (C$M) Basic: $17.1M SHAREHOLDERS FD: $24.3M Warrants 14.0M @ 18 cents 94.2M total 26.4M @ 12 cents 32.4M @ 10 cents 21.4M @ 8 cents KEY SHAREHOLDERS: Options 26.6M
Slide 4: Management & Board
MANAGEMENT & BOARD FOUNDER FOUNDER KIMBERLY ANN, FOUNDER BRIAN MAHER, FOUNDER EXECUTIVE CHAIR, CEO, PRESIDENT VICE PRESIDENT - EXPLORATION EVAN PELLETIER JOSH SERFASS SHANE WILLIAMS JOHN MCNEICE MAX PLUSS INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR CHIEF FINANCIAL OFFICER INDEPEND
Slide 5: Large-Scale Gold Oxide Deposits, Walker Lane, Nevada
L A RG E - S C A L E G O L D OX I D E D E PO S I TS WALKER LANE, NEVADA USA G O L D & S I LV E R A S S E T S I N T H E WA L K E R L A N E FLAGSHIP S AT E L L I T E HIGH GRADE SANTA FE MINE WEST SANTA FE MOHO MINE PA S T P R O D U C E R S AT E L L I T E A S S E T G O L D & S I LV E R o OPEN PIT, HEAP
Slide 6: Investment Highlights
Investment Highlights ! ! Producing Gold Mines Top Rated Mining 100% Owned N E V A D A Jurisdiction Fondaway The 100% owned Borealis mine is ! Reno WALKER LANE, NEVADA Nevada is the world’s top rated mining jurisdiction as ranked by the Fraser Institute. fully equipped for present mine Canyon operat
Slide 7: Updated Resource Estimate
U P DAT E D R E S O U RC E E S T I M AT E : 1.54 MILLION OUNCES INDICATED AND 0.41 MILLION OUNCES INFERRED PIT CONSTRAINED RESOURCE* 1 AVERAGE GRADE 0.93 g/ t Au Eq 2 INDICATED AND INFERRED RESOURCES o Occur in five separate deposits o Resource constrained by conceptual pits 3 OXIDE DOMAIN RESOURCES
Slide 8: Significant Oxide Remaining in High-Wall
SA N TA F E D E PO S I T S I G N I F I C A N T OX I D E R E M A I N I N G I N H I G H - WA L L WHAT TO KNOW SANTA FE DEPOSIT 1 SANTA FE PIT OXIDE o Significant oxide & transition left to be mined SANTA FE FAULT o 0.70 g/t oxide gold with low strip* 2 COMPETENT WALL ROCK o 50-degree pit slopes o Mine
Slide 9: Santa Fe Mine: Pathway to Production
100% Controlled S A N TA F E M I N E PAT H WAY T O P R O D U C T I O N SUBSTATION SANTA FE PIT ROUTE TO SU BSTATION PO RO WE AD RL AC IN CES ET S OS UB ST AT IO SLA NO B-C NL ALVA GP DA C RO OMP PE LEX RT P I T E X PA N S I O N Y TSX.V-LG; OTCQB-LGCXF
Slide 10: Santa Fe Mine PEA: Low Capex, Low Cost, Rapid Payback
SA N TA F E M I N E P E A : LOW C A P E X , LOW CO S T, R A P I D PAY BAC K WALKER LANE, NEVADA USA Ø LOM strip ratio of only 1.6* Ø Capex of US$135 M including a 20% contingency* Ø Payback period of 2.9 years* Ø Low cash costs* 1 km Slab Santa Fe Calvada Operating Nevada Heap-Leach Gold Mines Cash
Slide 11: Santa Fe Mine PEA: Robust Economics
SA N TA F E M I N E P E A : RO B U S T E CO N O M I C S WALKER LANE, NEVADA USA 8 Year Project US$1,233 ~50,000 oz/year US$200M NPV5 IRR = 34.2% US$931M Life* LOM Cash Cost* Ave. LOM Au Eq After Tax, Spot After Tax, Spot LOM Gross 12,500 TPD Production* Case* Case* Revenue* Potential to grow Annual
Slide 12: Santa Fe Mine PEA: Upside Opportunities
SA N TA F E M I N E P E A : U P S I D E O P P O RT U N I T E S WALKER LANE, NEVADA USA Ø DRILL, DRILL, DRILL: Add ounces through the drill bit Ø Slab has high-grade oxide potential to the north and under the $1950 resource pit shell Ø Potential for +200,000 oz oxide resource expansion Ø Met Testing:
Slide 13: Santa Fe Mine - Pathway to Production
SA N TA F E M I N E - PAT H WAY TO P RO D U C T I O N E X P L O R AT I O N P L A N O F O P E R AT I O N S & M I N E P L A N O F O P E R AT I O N S o Advanced permitting process covers 12.2 km2 area EXPLORATION o Permit will cover 50% of land package with over PLAN OF 700 permitted drill holes OPERAT
Slide 14: Amodei Reintroduces Mining Regulatory Clarity Act
Amodei Reintroduces Mining Regulatory Clarity Act Congressman Mark Amodei (NV-02) and Congressman Steven Horsford (NV-04) reintroduced the Mining Regulatory Clarity Act of 2025, which reaffirms that public land use under a mining claim inherently accompanies mining-support activities. “The Rosemont
Slide 15: West Santa Fe: A Focus for Resource Growth in 2025
W E S T S A N TA F E A FOCUS FOR RESOURCE GROWTH IN 2025 TSX.V-LG; OTCQB-LGCXF
Slide 16: West Santa Fe Oxide
W E ST SA N TA F E OX I D E OX I D E OX I D E WHAT TO KNOW WEST SANTA FE 1 L O C AT I O N L O C AT I O N L O C AT I O N o Located only 13 km west of the Flagship Santa Fe Mine o District scale land package S I G I F I C A N T H I S T O R I C D A TA B A S E 2 o Outlines a shallow oxide Au & Ag deposi
Slide 17: High-Grade Surface Sampling
W E ST SA N TA F E H I G H - G R A D E S U R FAC E SA M P L I N G WHAT TO KNOW Sample 503416 WEST SANTA FE WELL DEFINED STRUCTURE 1 o Sampling and mapping has helped identify structural controls to Au & Ag mineralization o Intersections of northeast striking high-angle faults and low-angle thrust fa
Slide 18: Excellent Resource Growth Potential
W E ST SA N TA F E E XC E L L E N T R E S O U RC E G ROW T H P OT E N T I A L WHAT TO KNOW WEST SANTA FE 1 DRILLING TO DATE o Au & Ag begins at surface o Mineralization continues down-rake o All Oxide!!! 2 0.31 G/ T AU SHELL OUTLINE o Look alike to Santa Fe o Possible low-cost satellite operation o
Slide 19: West Santa Fe Phase One Drilling
W E ST SA N TA F E P H AS E O N E D R I L L I N G I N 2 0 2 5 Down-dip drilling Step-out drilling Step-out drilling Ø PHASE ONE DRILL PROGRAM 6300 METRES Ø 26 RC drill holes to verify historic drilling and Shallow oxidized Au-Ag system in step-out on strike and down dip historic drilling Ø Drilling
Slide 20: Lahontan Key Catalysts
L A H O N TA N K E Y C ATA LYSTS 2025 1 PERMIT DRILLING PROGRAM FOR SANTA FE, SLAB o Drill in Q2 2025 2 PLAN AND PERMIT DRILLING FOR WEST SANTA FE o Drill in Q3 2025 3 APPROVAL OF SANTA FE EXPLORATION PLAN OF OPERATIONS o H2 2025 4 UPDATE SANTA FE PEA Q4 21 TSX.V-LG; OTCQB-LGCXF 21
Slide 21: Corporate Office and Field Office
CORPORATE OFFICE FIELD OFFICE 80 Richmond Street West Suite 204 364 E Street Hawthorne Toronto, ON NV 89415 United States M5H 2A4, Canada Telephone: 1.775.945.6140 Telephone: 1.613.692.7704
Slide 22: Appendix – Santa Fe Mine Royalties
A p p e n d i x – S a n t a Fe M i n e Roya l t i e s 26.4 km2 Land Package o 389 unpatented lode mining claims o 67 unpatented mill site clams 1. 25% NSR o 24 patented lode mining claims o Except for 45 optioned unpatented lode mining claims, all mining claims are 100% owned by Lahontan Over 79% of
Slide 23: Appendix: Santa Fe Mine History
Appendix Santa Fe Mine History Company Ownership Event Year Cordero Mining Co. Original Staking 1960 Callahan Mining Co. Option Agreement 1968 Bell Mountain Silver Mines Option Agreement 1971 Westley Mines Ltd. Option Agreement 1971 Bethlehem Mines Option Agreement 1974 Westley Mines Ltd. Option Dro
Slide 24: Appendix – Santa Fe Mine Mineral Resource Estimate
A p p e n d i x – S a n t a Fe M i n e M i n e ra l Re s o u rc e E s t i m a te Table One: Project- wide Resources, Santa Fe Mine, Mineral County, Nevada TSX.V-LG; OTCQB-LGCXF 25
Slide 25: Appendix – Continued
Appendix – Continued Notes to Table 1: 1. Mineral Resources have an effective date of October 9, 2024. The Mineral Resource Estimate for the Santa Fe Mine was prepared by Trevor Rabb, P.Geo., of Equity Exploration Consultants Ltd., an independent Qualified Person as defined by NI 43-101. 2. Mineral
Slide 26: Moho and Redlich
Moho and Redlich Moho Re d l i c h High Grade Au & Ag Disseminated Ag o Large land package 11 square o Located 45 km south of Santa Fe km, 35 km SW of Santa Fe, 100% owned by Lahontan o Disseminated Ag hosted by Tertiary age epithermal veins and o High-grade, oxidized Tertiary stockwork Au-Ag-Pb-Zn