Lahontan Closes Second Tranche of Private Placement for an Aggregate of $11.7M

Core Viewpoint - Lahontan Gold Corp. has successfully closed the second tranche of its non-brokered private placement, raising a total of CAD$1,299,700 through the issuance of 3,170,000 units, contributing to aggregate gross proceeds of CAD$11,676,900 from both tranches [1][3]. Group 1: Offering Details - The private placement consisted of units priced at CAD$0.41 each, with each unit comprising one common share and one-half of a whole common share purchase warrant [2]. - Each warrant allows the holder to purchase one common share at CAD$0.60 for two years, with an acceleration clause if the share price exceeds CAD$1.00 for ten consecutive trading days [2]. - The total number of units issued in both tranches amounts to 28,480,244 [1]. Group 2: Use of Proceeds - The gross proceeds from the offering will be allocated for exploration activities at the Santa Fe Mine and West Santa Fe Projects, as well as for general working capital [3]. Group 3: Company Overview - Lahontan Gold Corp. is a Canadian mine development and mineral exploration company with four gold and silver exploration properties in Nevada [6]. - The flagship Santa Fe Mine project has a historical production of 359,202 ounces of gold and 702,067 ounces of silver, with a current indicated mineral resource of 1,539,000 ounces of gold equivalent [6]. - The company plans to advance the Santa Fe Mine project towards production and update its Preliminary Economic Assessment during 2026 [6].