Lahontan Gold Secures C$4.3 Million Through Warrant and Option Exercises

Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has received C$4,316,948 from the exercise of warrants and stock options between July 4 and October 23, 2025, resulting in 334,420,221 common shares outstanding. The substantial capital infusion will fund exploration and mine development at the company's Nevada projects, including the Santa Fe and West Santa Fe sites located in the prolific Walker Lane gold belt. CEO Kimberly Ann stated that the exercises demonstrate strong shareholder confidence and leave Lahontan fully financed for its fall drilling programs while tightening the company's share structure for future growth.

The company's flagship property, the 26.4 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 currently holds a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. The technical content of the announcement has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101.

For additional technical details, investors can refer to the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project dated January 24, 2025. 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. The 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, based on assumptions including a gold price of US$1,950/oz and silver price of US$23.50/oz.

The successful capital raise through warrant and option exercises represents a significant milestone for Lahontan Gold, providing the necessary funding to aggressively pursue exploration and development activities without requiring additional external financing. This financial stability positions the company to capitalize on the substantial mineral resources at its Santa Fe property while advancing toward production goals. The tightened share structure resulting from these exercises creates a more favorable foundation for future corporate growth and potential value creation for shareholders.