Lahontan Gold Corp. · TSXV:LG
Lahontan Gold — Investor Presentation (July 2025)
28 slides from Lahontan Gold's investor presentation, July 2025
Slide 1: Nevada's Santa Fe Gold Mine: On Track to Production
JULY 2025 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 P O R AT E S NA P S H OT SHARE STRUCTURE Proforma Shares Outstanding (Shares) 286.4 M LAHONTAN Market Capitalization (C$M) Basic: $30.1M SHAREHOLDERS FD: $42.6M Warrants 14.0M @ 18 cents 92.6M total 25.0M @ 12 cents 28.7M @ 10 cents 24.9M @ 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 P O 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, HEA
Slide 6: Investment Highlights
Investment Highlights ! ! Producing Gold Mines WALKER LANE, NEVADA Top Rated Mining 100% Owned N E V A D A Jurisdiction Fondaway The 100% owned Borealis mine is ! Reno Nevada is the world’s top rated mining jurisdiction as fully equipped for present mine Canyon operations and future expansion: acces
Slide 7: Updated Resource Estimate
U P DAT E D R E S O U RC E E ST 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 o
Slide 8: Significant Oxide Remaining in High-Wall
SA N TA F E D E P O S I T WHAT TO KNOW 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 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 Min
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 S U BSTATION PO RO WE AD RL AC IN CE ET SS OS UB ST AT I ON SLA ON B-C ALVA LG DA C P RO OMP P ER LEX TY P I T E X PA N S I O N TSX.V-LG; OTCQB-LGCXF-Y2F
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 ST, 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 C
Slide 11: Santa Fe Mine PEA: Robust Economics
SA N TA F E M I N E P E A : RO B U ST ECO 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 Au
Slide 12: Slab Target Areas
S l a b Ta r g e t A re a s Ø Target A: Northern extension of Slab deposit, can pull pit A to the north, one hole, 274 m Ø Target B: Internal gap next to high grade drill holes, pulls pit deeper in central Slab resource, two drill holes totaling 314 m B Ø Target C: Wide-spaced old drilling provides
Slide 13: York Target Area
Yo r k Ta r g e t A re a $2250 Pit Ø East-dipping zone extends beyond claim boundary Ø Believed to be related to the east-west striking Columbia fault Ø Drilling has the potential to further pull the pit down in an area of wide- spaced historical drilling Ø Two drill holes totaling 302m YORK TARGET
Slide 14: 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, south, and under the TARGET C $1950 resource pit shell Ø Potential for +200,000 oz oxide resource expansi
Slide 15: Santa Fe Mine - Pathway to Production
S A N TA F E M I N E - PAT H WAY TO P R O 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 OPER
Slide 16: West Santa Fe
W E S T S A N TA F E A FOCUS FOR RESOURCE GROWTH IN 2025 TSX.V-LG; OTCQB-LGCXF
Slide 17: 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 ATA B A S E 2 o Outlines a shallow oxide Au & Ag deposit
Slide 18: 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 S A M P L I N G WHAT TO KNOW Sample 503416 WEST SANTA FE WE L L DE F I NE D ST RUCT URE 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
Slide 19: 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 RO W 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 20: 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, 4-5000m 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 can
Slide 21: Lahontan Key Catalysts
L A H O N TA N K E Y C ATA LYSTS 2025 1 PHASE ONE DRILL PROGRAM COMPLETE o Program designed to target Calvada, Slab & York 2 PLAN OF OPERATION PERMIT HEADING INTO NEPA PHASE o Estimated approval late Q4 2025 3 WEST SANTA FE PHASE ONE PROGRAM o Q3 2025 estimated program between 4000 & 5000 metres 4 S
Slide 22: 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 23: 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 24: Appendix – Santa Fe Mine Land Package and 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 25: Appendix: Santa Fe Mine History
Appen dix Santa Fe M ine 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 D
Slide 26: 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 t e Table One: Project-wide Resources, Santa Fe Mine, Mineral County, Nevada TSX.V-LG; OTCQB-LGCXF 25
Slide 27: Appendix – Continued: Notes to Table 1
Appen dix – 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 28: 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