Lahontan Drills More Shallow Oxide GOLD at WEST Santa Fe: 41m Grading 1.94 G/T Au Eq Including 9.1M Grading 4.14 G/T Au Eq
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE
LAHONTAN DRILLS MORE SHALLOW OXIDE GOLD AT WEST SANTA FE: 41m
GRADING 1.94 g/t Au Eq INCLUDING 9.1M GRADING 4.14 g/t Au Eq
Toronto Ontario, February 10, 2026 – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF ,
FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce more analytical results from our 2025
maiden drilling program at the Company’s satellite West Santa Fe project, located only 13 km from
Lahontan’s flagship asset, the Santa Fe Mine project, in Nevada’s prolific Walker Lane. These assay results
are from two additional reverse-circulation rotary (“RC”) drill holes at West Santa Fe and are summarized
below. Additional drill results are expected shortly.
• WSF25-03R: 41.2 metres (15.2 – 56.4m) grading 1.94 g/t Au Eq including 9.1 metres (42.7 –
51.8m) grading 4.14 g/t Au Eq: A shallow intercept of oxide gold and silver mineralization
with a high-grade core: 4.14 g/t Au Eq.
- The drill hole correlates with gold and silver mineralization reported in an adjacent historic
drill hole (M81-61) and allows Lahontan to continue validating the historic drill hole
database (please see cross section below).
- Individual intercepts in WSF25-03R contain up to 12.88 g/t Au Eq, corresponding to
an east-west trending fault structure that controls higher grade precious metal
mineralization in this portion of the West Santa Fe hydrothermal system (1.52m, 44.20 -
45.72m; 11.30 g/t Au, 135.0 g/t Ag).
• WSF25-01R: 6.1 metres (38.1 – 44.2m) grading 1.53 g/t Au Eq. The drill hole targeted structure
on the very east end of the south mineralized zone, successfully intercepting key fault-controlled
precious metal mineralization. The system remains open to the east, an area of old underground
workings and anomalous surface geochemistry (please see plan 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 estimated
metallurgical recovery reported by Kappes Cassiday (1982). True thickness of the intercepts is estimated to be 70-85% of the drilled
interval. Numbers may not total precisely due to rounding.
Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented: “The high-grade drill
results seen in WSF25-03R confirm the tenor and distribution of gold and silver mineralization seen in
historic drilling at West Santa Fe. The Company is excited that these initial results are very similar to, in
terms of both grade and geometry, assays reported for the older drilling. Given the apparent size of the
hydrothermal system, Lahontan believes that there is significant upside to the West Santa Fe project and
the project has the potential to augment Mineral Resources already defined at the nearby Santa Fe Mine
project*. Additional drilling is planned for West Santa Fe this Spring.”
Total
Depth (m)
Azimuth,
InclinationFrom (m)To (m) Interval
(m) Au (g/t)Ag (g/t)Au Eq (g/t)Metallurgical
Domain Target/Notes
WSF25-03R 91.4 ver tical 15.2 56.4 41.2 1.18 65.0 1.94 Oxide
Including: 42.7 51.8 9.1 3.26 75.6 4.14 Oxide
WSF25-01R 91.4 ver tical 38.1 44.2 6.1 1.05 40.6 1.53 Oxide North Zone, east boundary
North Zone, twin historic drilling
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
Cross section through drill hole WSF25-03R, West Santa Fe project, Nevada. The results from this drill hole compare favorably
with historic drilling, both in the grade of gold mineralization and the geometry. The results in part validate the historic drill hole
data and together, demonstrate that gold and silver mineralization is open down-dip to the north-northwest.
Drill hole location map for WSF25-01R and -03R West Santa Fe Project, Nevada. The surface projection of known
mineralization, based on historic drilling, is shown in red. Proximity to the Santa Fe Mine project is highlighted by the inset map.
The Company has also received analytical results for the final five RC drill holes completed at the York
deposit, part of the Company’s Santa Fe Mine project. Two of the drill holes were lost in a fault zone and
therefore abandoned due to difficult drilling conditions (YOR25-003R and -006R), while two of the
remaining three holes specifically targeted the margins of the York system for use in mine planning and
to determine the potential margins of a future open pit (YOR25-005R and -008R, please see below).
WSF25-03R
TD
91.4m
25m wide slice
North-Northwest East-Southeast
41.2m @ 1.18/t Au, 64.9g/t Ag from 15.2m
Au (ppm)
Southern Zone at West Santa Fe, 2025 Hole Twinning Historic Drilling
Historic Twin Hole: 39.6m @ 1.19g/t Au,
50.2g/t Ag from 10.7m, mineralization to EOH
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WSF25-03R
WSF25-01R
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
The final drill hole, YOR25-07R, was a condemnation hole located on the waste rock dump of the historic
York open pit. Interestingly, the upper 12.2 metres of YOR25-007R, all in mine dump material, graded
0.27 g/t Au. The historic (1993) cut-off grade at the York deposit was approximately 0.5 g/t Au. Given
the gold content seen in this limited sampling, the waste rock dumps at York may have the potential to
host significant tonnages of material that could be processed in future mining operations.
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. True thickness of the intercepts is estimated to be 80-100% of the
drilled interval. Numbers may not total precisely due to rounding. *The results for YOR25-004R were reported in a press release
dated January 13, 2026.
Drill hole location map for the York area, Santa Fe Mine Project, Nevada. The outline of the PEA pit shell from the Santa Fe Mine
Project Technical Report* is shown with the red dashed line. Gold mineralization intercepted by YOR25-004R remains open to
the north along the York fault.
Total
Depth (m)
Azimuth,
InclinationFrom (m)To (m) Interval
(m) Au (g/t)Ag (g/t)Au Eq (g/t)Metallurgical
Domain Target/Notes
YOR25-003R 135.6 205, -60 No Significant Values (NSV) Oxide York, remained in fault to EOH
YOR25-004R* 190.5 230, -72 76.2 190.5 114.3 0.32 1.3 0.33 Oxide
including: 172.2 190.5 18.3 0.90 0.4 0.90 Mixed
YOR25-005R 137.2 205, -60 53.3 72.6 18.3 0.14 0.1 0.14 Oxide York, define NW pit limit
YOR25-006R 93.0 150, -72 No Significant Values (NSV) York, remained in fault to EOH
YOR25-007R 178.3 80, -82 0.0 12.2 12.2 0.27 nil 0.27 Dump
173.7 178.3 4.6 0.23 0.1 0.23 Oxide
YOR25-008R 134.1 210, -60 44.2 56.4 12.2 0.20 nil 0.20 Oxide
also: 64.0 80.8 16.8 0.17 nil 0.17 Oxide
also: 129.5 134.1 4.6 0.19 1.4 0.21 Oxide
York, deepen pit
York, define SE pit limit
Condemnation, mine dump
YOR25-006R
YOR25-005R
YOR25-003R/4R
YOR25-007R
YOR25-008R
-003R
-004R
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
QA/QC Protocols
Lahontan conducts an industry standard QA/QC program for its core 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. CRM’s 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 CRM’s 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. CRM’s with similar grades are inserted as the
initial CRM’s run out. The coarse blank material comprised of commercially available landscape gravel
with an expected gold value of -0.005 g/t.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th 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 core.
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 Canadian mine development and mineral exploration company that holds,
through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining
friendly Nevada. Lahontan’s flagship property, the 28.3 km2 Santa Fe Mine project, had past production
of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines
utilizing heap-leach processing. 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, together grading 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, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is
inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans
to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary
Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information,
please visit our website: www.lahontangoldcorp.com
* Please 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 Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website
and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 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$1,950/oz gold, silver price of US$23.50/oz 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%.
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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 Vice President-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, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email:
Website: www.lahontangoldcorp.com
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