Lahontan Mobilizes Drill Rig to Santa Fe
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
NEWS RELEASE TSX.V LG, OTCQB LGCXF
LAHONTAN MOBILIZES DRILL RIG TO SANTA FE
Toronto, Ontario, May 20, 2024. Lahontan Gold Corp (TSXV:LG, OTCQB:LGCXF) (the
"Company" or "Lahontan"), is pleased to announce that it is has mobilized a reverse-circulation drill
rig and support equipment to its flagship Santa Fe Mine project located in the Walker Lane of mining
friendly Nevada. The drill rig, a track-mounted MPD-1500, will begin drilling immediately in the Slab
open pit target area at Santa Fe. The previously announced drill program will total approximately 3,000
metres (please see Lahontan press release dated May 8, 2024). The drill program will target areas that have
the potential to greatly expand the project’s Mineral Resource Estimate (“MRE”) and help support
a Preliminary Economic Assessment (“PEA”) of the project planned for later this year.
Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: “With the arrival of the
drilling equipment at Santa Fe, the Company is accelerating its program of updating the MRE for the
project. Work has begun on the PEA, with the engineering team beginning scoping studies on costing and
equipment sizing. The Company will continue to support strong market momentum and deliver drill results,
updates on permitting, and PEA progress reports in the months ahead”.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds,
through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of
mining friendly Nevada. Lahontan’s flagship property, the 26.4 km2 Santa Fe Mine project, had past
production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit
mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine
has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,112,000 oz Au Eq
(grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq),
all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report*). The
Company will continue to aggressively explore Santa Fe during 202 4 and complete a Preliminary
Economic Assessment evaluating development scenarios to bring the Santa Fe Mine back into production.
Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., is the Qualified Person for the
Company and approved the technical content of this news release. For more information, please visit our
website: www.lahontangoldcorp.com
* Please see the Santa Fe Project Technical Report, Authors: Trevor Rabb and Darcy Baker, P. Geos. Effective Date: December
7, 2022, Report Date: March 2, 2023. The Technical Report is available on the Company’s website and SEDAR.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
217 Queen Street West, Suite 401, Toronto, ON M5V 0R2 www.lahontangoldcorp.com
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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this news release contains certain "forward-looking information" within the meaning of applicable securities law.
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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 at www.sedar.com