TORONTO, Sept. 21, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company& or “Lahontan&) is pleased to announce the mobilization of a track-mounted reverse-circulation (“RVC&) drill rig and crew to its West Santa Fe Project in Nevada&s prolific Walker Lane. The Foremost MPD-1500 track-mounted RVC drill rig will conduct approximately 3,500 metres of drilling in 20 holes focused on gold and silver resource definition and step-out targets. The track-mounted configuration will allow multiple holes to be completed from individual drill pads, helping to minimize surface disturbance. Lahontan&s maiden drilling campaign at West Santa Fe in December 2025 successfully reproduced high-grade gold and silver mineralization reported in historic drilling, including 36.6 metres grading 3.11 g/t AuEq (1.47 g/t Au and 140.1 g/t Ag) from surface in drill hole WSF25-04R. The entire interval is oxide mineralization (please see Lahontan&s February 24, 2026 press release).
Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder, commented: “Lahontan is excited to resume drilling at West Santa Fe following the success of our maiden drill campaign last December. Our geological team has been modeling the distribution and geometry of gold and silver mineralization throughout the West Santa Fe system, with particular emphasis on areas that were under-explored by previous operators. This work has identified numerous targets where additional drilling can both expand the known mineralized system and improve our understanding of its geometry. We expect results from this program later in 2026.&
West Santa Fe is located approximately 13 kilometres from Lahontan&s flagship Santa Fe Mine Project and represents an important component of the Company&s regional Walker Lane exploration strategy. Historic drilling at West Santa Fe established extensive gold and silver mineralization, while Lahontan&s 2025 drilling provided confirmation of high-grade oxide mineralization near surface.
The Company also announces that it has granted an aggregate of 3,000,000 options to purchase common shares of the Company exercisable at a price of Cdn$0.40 per common share for a period of five (5) years to officers and consultants of the Company. The options vest over an 18 month period; the common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Nevada-focused mine development company advancing a portfolio of four gold and silver projects in mining-friendly Nevada&s prolific Walker Lane. The Company&s primary focus is the restart of its flagship, the 28.3 km² Santa Fe Mine project, with a targeted return to production in 2027.
- Santa Fe Mine historic production: 359,202 ounces of gold and 702,067 ounces of silver, open pit mining with heap-leach processing (1988-1995; Nevada Bureau of Mines).
- Current Resources: The Santa Fe Mine has a NI 43-101 compliant Indicated Mineral Resource of 1,195,000 oz Au Eq (47,532,000 tonnes grading 0.72 g/t Au and 5.55 g/t Ag, together grading 0.78 g/t Au Eq) and an Inferred Mineral Resource of 1,190,000 oz Au Eq (60,605,000 tonnes grading 0.59 g/t Au and 2.40 g/t Ag, together grading 0.61 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*).
- Objectives 2026:
- Complete an updated Preliminary Economic Assessment (“PEA&) for the Santa Fe Mine, including the first analysis of mining and processing sulfide resources,
- Advancing mine permitting activities with the objective of commencing construction in 2027,
- Continue drill testing the satellite West Santa Fe project, with a maiden resource estimate targeted by year-end,
- Conduct exploration drilling at Santa Fe focused on expanding known gold and silver mineralization,
- Drill test historic heap-leach pads to evaluate residual gold and silver mineralization for potential future reprocessing opportunities.
For more information, please visit our website: www.lahontangoldcorp.com
* Please see the “Updated Mineral Resource Estimate, NI 43-101 Technical Report, Santa Fe Project&, Authors: Michael S. Lindholm, C.P.G., and Thomas Dyer, PE; Effective Date: August 13, 2026, Report Date: Maximum 45 days from August 17, 2026. The Technical Report will be available on the Company&s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.10 g/t AuEq for oxide and transition resources and 0.30 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$3,250/oz, silver price of US$40.00/oz, and oxide gold recoveries ranging from 60% to 79%, oxide silver recoveries ranging from 0% to 30%, transitional gold recoveries ranging from 28% to 45%, transitional silver recoveries ranging from 0 to 13%, and non-oxide gold and silver recoveries of 68% except for the York deposit where non-oxide recoveries are estimated to be 0%.
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 content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Senior Vice President, Mine Development & Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, Executive Chair
FOR FURTHER INFORMATION, PLEASECONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, CEO, President, Executive Chair
Phone: 1-530-414-4400
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimatesatthedatethestatementsaremade andaresubjecttoavarietyofrisksanduncertaintiesandotherfactors thatcouldcauseactualeventsorresultstodiffermateriallyfromthoseanticipatedintheforward-lookingstatements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company&s control. The Company undertakes no obligation to update 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 contained in the Company&s filings with Canadian securities regulators, which filings are available atwww.sedar.com
