Lahontan Provides Santa Fe Mine Development and Exploration Update

About this update from Lahontan Gold Corp.

TORONTO, June 30, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the "Company" or "Lahontan") is pleased to provide an update on mine development and exploration activities at its flagship Santa Fe Mine Project located in mining friendly Nevada's Walker Lane. The mine permitting team continues to make timely progress on the waste rock geochemical characterization program and ground water modeling, part of the Nevada state mine permitting process. The preparation of an updated Mineral Resource Estimate ("MRE") for Santa Fe is nearly complete, a crucial step in developing an open pit mine plan for the restart of gold and silver production at the project. With an updated MRE, the Company will also complete a revised Preliminary Economic Assessment ("PEA"), which will include detailed description of key mine infrastructure including heap leach pads, open pits, and locations for waste rock storage. With the PEA in hand, the Company will be able to submit a Mine Plan of Operations ("MPOO") to the Federal Bureau of Land Management ("BLM"). Despite the fluid nature of Federal and State mine permitting, Lahontan remains on track for breaking ground at the Santa Fe Mine Project in 2027. Kimberly Ann, Lahontan Gold Corp. Chair, CEO, President, and Founder commented: "The pace of activity at Santa Fe continues to accelerate: We are advancing permitting activities, making new gold and silver discoveries, while evaluating the economic potential of reprocessing the historic heap leach pads, potentially producing very significant and low-cost recoverable ounces. Lahontan has completed 87 drill holes totaling 7,751 metres so far in 2026 with more to come. We remain on track to break ground in 2027: The Santa Fe Mine is a classic brownfields restart, leveraging existing infrastructure and technical knowledge allowing us to restart production at lower capital cost, on a shorter development timeline, and with a substantially lower execution risk than a comparable greenfield project, benefiting all stakeholders." Highlights: MRE and PEA Preparation: Lahontan and its engineering consultants continue to work on an updated MRE for the Santa Fe Mine Project. High levels of mining and exploration activity throughout Nevada have also increased demand for qualified technical consultants, resulting in modest delays in completing the updated MRE. The Com...

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