Lahontan Gold Drills 91m Grading 0.43 g/t Au Oxide at Calvada, Discovers New Gold Zone at Slab West

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TORONTO, June 09, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce the first drill results from its 2026 drilling program at the Santa Fe Mine Project. The drill results reported herein cover four diamond core drill holes totalling 953 metres that were designed to acquire geotechnical data related to mine permitting that nonetheless intercepted significant gold mineralization. Five additional reverse-circulation (“RC”) drill holes, totalling 1,530 metres, have discovered a previously unrecognized zone of gold mineralization located west of the Slab open pit (“Slab West”) that remains open in all directions. Significant results are summarized below: Calvada: Drill hole CAL26-02C, originally designed to gather geotechnical data for mine permitting, cut 90.8 metres (194.2 – 285.0 m) grading 0.44 g/t Au Eq oxide near the bottom and below the current resource pit shell*. This includes a 12.3 metre interval (212.4 -223.7 m) of high-grade material: 1.22 g/t Au Eq. Please see maps, tables, and section. Slab West: Multiple drill holes have discovered a new, previously unrecognized zone of gold mineralization west of the Slab resource and open pit. Gold mineralization was intercepted in four out of five drill holes including 35.0 metres grading 0.34 g/t Au Eq (CAL26-03R; 164.6 – 199.6 m) and 61.0 metres grading 0.26 g/t Au Eq (CAL26-01R; 184.4 – 245.4 m). The Slab West discovery is unconstrained up and down dip plus along strike and has the potential to host significant new gold resources at the Santa Fe Mine Project. Please see maps and tables below. Notes: Au Eq equals Au (g/t) + ((Ag g/t/60)*0.70). Silver grade for calculating Au Eq is adjusted to consider historic metallurgical recovery as described in the Santa Fe Project Technical Report*. True thickness of the intercepts is estimated to be 80-100% of the drilled interval. Numbers may not total precisely due to rounding. Kimberly Ann, Founder, Chair, CEO, and President of Lahontan Gold Corp commented: “The discovery of the gold zone at Slab West is an exciting development for the Santa Fe Mine Project. Since Lahontan acquired Santa Fe, all our drilling was focused on resource expansion and definition in order to demonstrate sufficient gold and silver resources to justify a production decision. The current RC drilling pr...

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