Lahontan mobilizes core drilling rig to Santa Fe

TORONTO, ON / ACCESS Newsline / January 26, 2026 / Lahontan Gold Corp. (TSXV:LG,OTC:LGCXF)(OTCQB:LGCXF)(FSE:Y2F) (the “Company” or “Vegetables“) is pleased to announce that it has mobilized a Super 90 track-mounted core drilling rig to the company’s flagship Santa Fe Mine Project, located in Nevada’s prolific Walker Lane. The core drilling is part of the company’s ongoing mine development program, which focuses on collecting core samples for geochemical characterization of waste rock as part of the state-level mine permitting process. The boreholes will also be used to improve the distribution of groundwater in the area of the proposed further define open mining, another important part of the permitting process.

Kimberly Ann, executive chairman, president, CEO and founder of Lahontan, commented: “Lahontan is pleased to take this important next step in the permitting process for the resumption of open-pit mining and heap-leach processing in Santa Fe. By mobilizing drilling equipment in early 2026, we expect to obtain both the hydrological and waste rock geochemical data necessary to keep the company on track for the first job in Santa Fe in 2027.”

About Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that, through its U.S. subsidiaries, owns four gold and silver exploration properties in the Walker Lane area of ​​mining-friendly Nevada. Lahontan’s flagship, the 28.3 km² The Santa Fe mine project produced 359,202 ounces of gold and 702,067 ounces of silver from open-pit mines using heap-leach processing between 1988 and 1995. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, along with a grading of 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, along with grading 0.76 g/t Au Eq), all confined in the pit (Au Eq includes recovery, see Santa Fe Project Technical Report and note below*). The company plans to continue to develop the Santa Fe mine project toward production, update Santa Fe’s preliminary economic assessment and test its West Santa Fe satellite project in 2025. For more information, please visit our website: www.lahontangoldcorp.com

*See the “Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project,” authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and on SEDAR+. Mineral resources are reported at a limit of 0.15 g/t AuEq for oxide sources and 0.60 g/t AuEq for non-oxide sources. AuEq for the purposes of Mineral Resources cut-off grade and reporting is based on the following assumptions: gold price of US$1,950/oz of gold, silver price of US$23.50/oz of silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.

Qualified person

Brian J. Maher, M.Sc., CPG-12342, is a “qualified person” as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the contents of this press release with respect to all technical disclosures other than mineral resource estimates, as noted above. Mr. Maher is vice president of exploration for Lahontan Gold and verified the data disclosed in this press release, including sampling. Analytical and testing data underlying the disclosure.

On behalf of the Board of Directors

Kimberly Ann
Founder, CEO, President and Director

FOR MORE INFORMATION PLEASE CONTACT:

Lahontan Gold Corp.
Kimberly Ann
Founder, CEO, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com

Cautionary Statement Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often identified by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate,” “estimate” and other similar words, or statements that certain events or circumstances “may” or “will” occur. Forward-looking statements are based on the opinions and estimates as of the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, including but not limited to delays or uncertainties with regulatory approvals, including those of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the company’s control. The Company assumes no obligation to update any forward-looking information if circumstances or management’s estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is included in the Company’s filings with Canadian securities regulators. These documents are available at www.sedar.com

SOURCE: Lahontan Gold Corp.

View the original press release on ACCESS Newswire