Lahontan Drills 16.5m Grading 2.72 g/t Au and 2.8 g/t Ag at Santa Fe Heap Leach Pad Two
Lahontan Drills 16.5m Grading 2.72 g/t Au and 2.8 g/t Ag at Santa Fe Heap
Leach Pad Two
TORONTO, Sept. 15, 2026 -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “Company” or “Lahontan”)
is pleased to announce additional results from its 2026 Sonic core drilling program at the Santa Fe Mine Project. The ten drill
holes reported below were all located on Santa Fe Mine Heap Leach Pad Two (“ HLP Two ”) and total 168.9 metres. Nearly
every drill interval (0.76m) contains meaningful gold and silver mineralization, not unexpected given that the program is
evaluating a historic heap leach pad (please see table and map below).
Notes: Au Eq equals Au (g/t) + ((Ag g/t/60)*0.70). Silver grade for calculating Au Eq is adjusted to consider historic
metallurgical recovery as described in the Santa Fe Project Technical Report*. All drill holes are vertical, true thickness of the
intercepts are approximately 100% of the drilled interval. Numbers may not total precisely due to rounding.
HLP Two was utilized by Corona Gold to process run-of mine (“ ROM” or uncrushed) gold and silver mineralized rock from the
Santa Fe open pit during the late 1980’s and early 1990’s. Detailed production records show that 3.76M tonnes of rock grading
0.55 g/t Au, 2.9 g/t Ag (0.58 g/t Au Eq) was loaded on HLP Two and, based on reported recoveries (47% Au, 13% Ag), the
expected residual grade would average about 0.29 g/t Au and 2.5 g/t Ag (0.32 g/t Au Eq). Based on these first ten drill holes
(out of 26 completed), the weighted average grade of all samples to date is 0.50 g/t Au, 3.3 g/t Ag (0.54 g/t Au Eq). CN Au
analyses vary from to 5 to 82% of the coresponing fire assay Au value and average 40%, suggesting that the heap leach pad
material may be amenable to reprocessing using conventional CN leaching. Unique to drilling heap leach pads, mine dumps,
or tailings, is a lack of systematic geologic or other technical controls to grade distribution, so grade variability is expected.
Kimberly Ann, Founder, Chair, CEO, and President of Lahontan Gold Corp commented: “The results from the Sonic core
drilling of HLP Two are very encouraging. The drill holes confirm the presence of significant residual gold and silver
mineralization in HLP Two. Additional drill results will be needed before Mineral Resources can be calculated; however, the
program is clearly off to an excellent start. There are 86 additional Sonic drill holes spread across the four historic heap leach
pads, so expect additional results as assays are provided by the lab.”
Drill hole location, Heap Leach Pad Two, Santa Fe Mine Project, Mineral County, Nevada. Drill holes shown are the SF26-
XXXS series of Sonic core drill holes.
QA/QC Protocols
Lahontan conducts an industry standard QA/QC program for its core, Sonic, and RC drilling programs. The QA/QC program
consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random
intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a
rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRMs were inserted at a rate of
one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRMs and one blank CRM that were purchased from MEG, LLC of Lamoille, Nevada
(formerly Shea Clark Smith Laboratories of Reno, Nevada). Expected gold values are 0.188 g/t, 1.107 g/t, 10.188 g/t, and -
0.005 g/t, respectively. CRMs with similar grades are inserted as the initial CRM’s run out. The coarse blank material
comprised of commercially available landscape gravel and unaltered Tertiary volcanic rock have an expected gold value of -
0.005 g/t.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20 th sample interval at the drill rig to
evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were
collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a “D” suffix on the sample bag. No duplicates were
submitted for Sonic core drill holes.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab
was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis
using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing
two acid digestion ICP-AES method. Tellurium or 50-element analyses were performed on select drill holes utilizing ICP-MS
method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on
select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure
proper sample preparation and equipment calibration. We have all results reported in grams per tonne (g/t).
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
gold, silver price of US$40.00/oz silver, 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, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, CEO, President, Executive Chair
Phone: 1-530-414-4400
Email:
Website: www.lahontangoldcorp.com
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Photos accompanying this announcement are available at
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