Lahontan Gold Corp
An Explui atiun Stage Cumpanv
-
Unaudited Condensed Consolidated Interim Financial
Statements for the three and six month periods
ended June 30, 2026 and 2025
(expi essed in United States doFai s)
TSX.V: LG ||OTCQB: LGCXF | LAH0NTANG0LDC0RP.COM
NOTICE OF NO AUDITOR REVIEW OF THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTSThe accompanying condensed consolidated interim financial statements of Lahontan Gold Corp. (the "Company") have been prepared by and are the responsibility of the Company's management. The Company's Audit Committee and Board of Directors have reviewed and approved these condensed consolidated interim financial statements.
The Company's independent auditor has not performed a review of these condensed consolidated interim financial statements.
Lahontan Gold Corp.(An Exploration Stage Company)
Unaudited Condensed Consolidated Interim Statements of Financial Position(expressed in United States dollars) | ||
June 30, | December 31, | |
2026 | 2025 | |
$ | $ | |
Assets | ||
Current assets: | ||
Cash and cash equivalents | 12,424,970 | 3,874,388 |
Amounts receivable | 57,748 | 19,355 |
Prepaid expenses | 181,695 | 108,602 |
12,664,413 | 4,002,345 | |
Reclamation deposits (note 4) | 100,000 | 50,000 |
Exploration and evaluation assets (note 5) | 26,149,370 | 22,112,451 |
26,249,370 | 22,162,451 | |
Total assets | 38,913,783 | 26,164,796 |
Liabilities | ||
Current liabilities: | ||
Accounts payable and accrued liabilities | 61,217 | 252,481 |
Asset retirement obligation (note 6) | 319,158 | 313,221 |
Deferred tax liability | 1,015,007 | 1,006,142 |
1,334,165 | 1,319,363 | |
Total liabilities | 1,395,382 | 1,571,844 |
Shareholders' equity | ||
Capital stock (note 7) | 70,670,514 | 57,612,673 |
Warrants (note 7) | 2,167,998 | 1,307,747 |
Contributed surplus (note 7) | 11,816,338 | 10,910,623 |
Accumulated deficit | (46,730,924) | (45,299,768) |
Accumulated other comprehensive income (loss) | (405,525) | 61,677 |
Total shareholders' equity | 37,518,401 | 24,592,952 |
Total liabilities and shareholders' equity | 38,913,783 | 26,164,796 |
Nature of operations and going concern (note 1) | ||
Contingencies (note 13) | ||
Subsequent events (note 14) | ||
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Approved by the Board of Directors:
/s/ Kimberly Ann Arntson /s/ Miranda Westiuk
Director Director
Lahontan Gold Corp.(An Exploration Stage Company)
Unaudited Condensed Consolidated Interim Statements of Operations and Comprehensive Loss
(expressed in United States dollars) | ||||
Three months ended June 30, 2026 $ | Three months ended June 30, 2025 $ | Six months ended June 30, 2026 $ | Six months ended June 30, 2025 $ | |
Expenses | ||||
Promotion and investor relations | 300,046 | 103,905 | 581,927 | 187,344 |
Regulatory authority and transfer agent fees | 18,298 | 13,459 | 35,063 | 27,301 |
Legal, accounting and audit | 31,839 | 15,617 | 43,658 | 27,753 |
Office, general and administrative | 124,976 | 103,341 | 232,596 | 197,506 |
Share based compensation (note 7) | 645,072 | 278,845 | 645,072 | 278,845 |
Total expenses | (1,120,231) | (515,167) | (1,538,316) | (718,749) |
Other income | ||||
Interest income | 87,706 | 2,017 | 116,025 | 2,702 |
Loss before tax | (1,032,525) | (513,150) | (1,422,291) | (716,047) |
Deferred income tax expense | (3,810) | (5,259) | (8,865) | (14,811) |
Net loss for the period | (1,036,335) | (518,409) | (1,431,156) | (730,858) |
Other comprehensive income (loss) Foreign currency translation adjustment | (298,213) | 11,150 | (467,202) | 14,080 |
Total comprehensive loss for the period | (1,334,548) | (507,259) | (1,898,358) | (716,778) |
Loss per common share: Basic and diluted | (0.00) | (0.00) | (0.00) | (0.00) |
Weighted average number of common shares outstanding: Basic and diluted | 422,471,555 | 271,319,092 | 398,323,437 | 250,088,942 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
Lahontan Gold Corp.(An Exploration Stage Company)
Unaudited Condensed Consolidated Interim Statements of Changes in Shareholders' Equity
(expressed in United States dollars)
Capital stock Warrants
Accumulated
other Total
Contributed Accumulated comprehensive shareholders' surplus deficit income (loss) equity
# $ # $ $ $ $ $
Balance, January 1, 2026 | 358,120,914 | 57,612,673 | 49,058,317 | 1,307,747 | 10,910,623 | (45,299,768) | 61,677 | 24,592,952 |
Net loss for the period | - | - | - | - | - | (1,431,156) | - | (1,431,156) |
Foreign currency translation adjustment | - | - | - | - | - | - | (467,202) | (467,202) |
Total comprehensive loss for the period | - | - | - | - | - | (1,431,156) | (467,202) | (1,898,358) |
Non-brokered private placement of units (note 7) | 33,269,244 | 8,197,163 | 16,634,622 | 1,722,919 | - | - | - | 9,920,082 |
Finder warrants (note 7) | - | (245,782) | 1,961,954 | 245,782 | - | - | - | - |
Share issue costs | - | (653,917) | - | - | - | - | - | (653,917) |
Exercise of warrants (note 7) | 36,017,591 | 5,389,387 | (36,017,591) | (1,017,061) | - | - | - | 4,372,326 |
Expiry of warrants (note 7) | - | - | (4,520,350) | (91,389) | 91,389 | - | - | - |
Stock option compensation charge (note 7) | - | - | - | - | 1,071,476 | - | - | 1,071,476 |
Exercise of stock options (note 7) | 4,914,705 | 370,990 | - | - | (257,150) | - | - | 113,840 |
Balance, June 30, 2026 | 432,322,454 | 70,670,514 | 27,116,952 | 2,167,998 | 11,816,338 | (46,730,924) | (405,525) | 37,518,401 |
Balance, January 1, 2025 | 206,222,901 | 49,509,131 | 72,756,244 | 1,716,786 | 9,875,962 | (43,168,166) | (46,989) | 17,886,724 |
Net loss for the period | - | - | - | - | - | (730,858) | - | (730,858) |
Foreign currency translation adjustment | - | - | - | - | - | - | 14,080 | 14,080 |
Total comprehensive loss for the period | - | - | - | - | - | (730,858) | 14,080 | (716,778) |
Non-brokered private placement of shares (note 7) | 36,000,000 | 499,946 | - | - | - | - | - | 499,946 |
Non-brokered private placement of units (note 7) | 42,705,700 | 1,232,128 | 21,352,850 | 310,495 | - | - | - | 1,542,623 |
Share issue costs | - | (39,111) | - | - | - | - | - | (39,111) |
Stock option compensation charge (note 7) | - | - | - | - | 351,230 | - | - | 351,230 |
Balance, June 30, 2025 | 284,928,601 | 51,202,094 | 94,109,094 | 2,027,281 | 10,227,192 | (43,899,024) | (32,909) | 19,524,634 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.