Lahontan Commences Drilling at West Santa Fe

Core Viewpoint - Lahontan Gold Corp. has initiated drilling at its West Santa Fe project, aiming to validate historic drill data and enhance its resource estimates for future development [1][3]. Group 1: West Santa Fe Project - The company has commenced its first drilling campaign at the West Santa Fe project, located 13 km from its flagship Santa Fe Mine [1]. - The initial drilling will focus on "twining" historic drill holes from the 1980s to confirm the validity of the existing drill hole database [1]. - Previous operators conducted 171 drill holes totaling 13,107 meters at West Santa Fe between 1980 and 1995, which may be utilized in future Mineral Resource Estimates (MRE) [1]. Group 2: Santa Fe Mine Project - Lahontan has completed its 2025 Phase Two drilling program at the Santa Fe Mine, executing twenty reverse-circulation drill holes in the Slab and York Resource areas [2]. - The drilling aimed to expand gold and silver resources at depth below the south end of the Slab pit and to grow mineral resources in the York area [2]. - The completed drill holes in the Slab area reached depths of up to 194 meters, remaining in oxidized and hydrothermally altered rock [2]. Group 3: Future Plans and Resource Estimates - The company plans to update the Santa Fe Mine MRE in early 2026, incorporating new drill hole data into a Preliminary Economic Assessment in the first half of 2026 [3]. - Since 2021, Lahontan has completed 99 diamond and reverse-circulation drill holes totaling 22,431 meters at the Santa Fe Mine, with 2025 marking the largest number of drill holes completed in a single year [3]. - The Santa Fe Mine project has a compliant Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent [4].