La hontan Gold Corp
Unaudi ted Conden sed Consolidated Inter im
Fin ancial Statement s fc›r the thru e mc›n th periods
ended March 31 2026 and 2025
TSX.V: LG OTCQB: LGCXF LAHONTANGOLDCORP.COM
NOTICE OF NO AUDITOR REVIEW OF THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
The 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 has 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) | ||
March 31, | December 31, | |
2026 | 2025 | |
$ | $ | |
Assets | ||
Current assets: | ||
Cash and cash equivalents | 11,964,202 | 3,874,388 |
Amounts receivable | 35,009 | 19,355 |
Prepaid expenses | 180,205 | 108,602 |
12,179,416 | 4,002,345 | |
Reclamation deposits (note 4) | 100,000 | 50,000 |
Exploration and evaluation assets (note 5) | 23,397,713 | 22,112,451 |
23,497,713 | 22,162,451 | |
Total assets | 35,677,129 | 26,164,796 |
Liabilities | ||
Current liabilities: | ||
Accounts payable and accrued liabilities | 269,580 | 252,481 |
Asset retirement obligation (note 6) | 316,189 | 313,221 |
Deferred tax liability | 1,011,197 | 1,006,142 |
1,327,386 | 1,319,363 | |
Total liabilities | 1,596,966 | 1,571,844 |
Shareholders' equity | ||
Capital stock (note 7) | 66,755,053 | 57,612,673 |
Warrants (note 7) | 2,447,666 | 1,307,747 |
Contributed surplus (note 7) | 10,679,345 | 10,910,623 |
Accumulated deficit | (45,694,589) | (45,299,768) |
Accumulated other comprehensive income (loss) | (107,312) | 61,677 |
Total shareholders' equity | 34,080,163 | 24,592,952 |
Total liabilities and shareholders' equity | 35,677,129 | 26,164,796 |
Nature of operations and going concern (note 1) | ||
Subsequent events (note 13) | ||
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 March 31, 2026 $ | Three months ended March 31, 2025 $ | |
Expenses | ||
Promotion and investor relations | 281,881 | 83,439 |
Regulatory authority and transfer agent fees | 16,765 | 13,842 |
Legal, accounting and audit | 11,819 | 12,136 |
Office, general and administrative | 107,620 | 94,165 |
Total expenses | (418,085) | (203,582) |
Other income | ||
Interest income | 28,319 | 685 |
Loss before tax | (389,766) | (202,897) |
Deferred income tax expense | (5,055) | (9,552) |
Net loss for the period | (394,821) | (212,449) |
Other comprehensive income (loss) Foreign currency translation adjustment | (168,989) | 2,930 |
Total comprehensive loss for the period | (563,810) | (209,519) |
Loss per common share: Basic and diluted | (0.00) | (0.00) |
Weighted average number of common shares outstanding:
Basic and diluted 374,006,740 228,622,901
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 | - | - | - | - | - | (394,821) | - | (394,821) |
Foreign currency translation adjustment | - | - | - | - | - | - | (168,989) | (168,989) |
Total comprehensive loss for the period | - | - | - | - | - | (394,821) | (168,989) | (563,810) |
Non-brokered private placement of units (note 7) | 28,480,244 | 7,033,230 | 14,240,122 | 1,475,260 | - | - | - | 8,508,490 |
Finder warrants (note 7) | - | (208,074) | 1,674,614 | 208,074 | - | - | - | - |
Share issue costs | - | (526,677) | - | - | - | - | - | (526,677) |
Exercise of warrants (note 7) | 17,337,423 | 2,484,080 | (17,337,423) | (528,712) | - | - | - | 1,955,368 |
Expiry of warrants (note 7) | - | - | (426,100) | (14,703) | 14,703 | - | - | - |
Exercise of stock options (note 7) | 4,804,705 | 359,821 | - | - | (245,981) | - | - | 113,840 |
Balance, March 31, 2026 | 408,743,286 | 66,755,053 | 47,209,530 | 2,447,666 | 10,679,345 | (45,694,589) | (107,312) | 34,080,163 |
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 | - | - | - | - | - | (212,449) | - | (212,449) |
Foreign currency translation adjustment | - | - | - | - | - | - | 2,930 | 2,930 |
Total comprehensive loss for the period | - | - | - | - | - | (212,449) | 2,930 | (209,519) |
Non-brokered private placement of shares (note 7) | 36,000,000 | 499,946 | - | - | - | - | - | 499,946 |
Share issue costs | - | (13,401) | - | - | - | - | - | (13,401) |
Balance, March 31, 2025 | 242,222,901 | 49,995,676 | 72,756,244 | 1,716,786 | 9,875,962 | (43,380,615) | (44,059) | 18,163,750 |
The accompanying notes are an integral part of these condensed consolidated interim financial statements.