{"success":true,"data":{"pressRelease":{"id":"120286","rtpr_id":"nGNXXNRmz","ticker":"LG","exchange":"","all_tickers":["LG"],"title":"Lahontan Announces 22% Increase in Mineral Resources at Santa Fe: 1,195,000 Au Eq oz Indicated, and 1,190,000 Au Eq oz Inferred","author":"Globe Newswire","published_at":"2026-08-17T11:00:00.768Z","article_body":"TORONTO, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG,\nOTCQB:LGCXF, FSE:Y2F) (the \"Company\" or \"Lahontan\") is pleased to announce an\nupdated Mineral Resource Estimate (“MRE”) for its flagship Santa Fe Mine\n(“Santa Fe”), a past-producing open pit, heap leach, gold and silver mine,\nlocated in Nevada’s prolific Walker Lane. The MRE for Santa Fe is based upon\n1,275 drill holes totaling 136,515 metres, including 103 drill holes totaling\n23,805 metres drilled by Lahontan from 2021 through May 2026.\n\nHighlights of the MRE include:\n* Project-wide pit constrained resources increase significantly: Indicated\nMineral Resources of 1,195,000 contained gold equivalent (“Au Eq”) ounces\nand Inferred Mineral Resources of 1,190,000 contained Au Eq ounces, a total\nincrease of 435,000 ounces or 22% over the 2024 MRE (assumptions for Au Eq are\ndescribed in the Notes to Table One). \n* Project-wide average grade for the Indicated Mineral Resource is 0.78 g/t Au\nEq; the average grade of the Project-wide Inferred Mineral Resource is 0.61\ng/t Au Eq (please see Table One).\n\n* Shallow Slab and York oxide resources expand dramatically: Indicated oxide\nResources for the two deposits total 12.09 Mt grading 0.33 g/t Au Eq for\n128,000 Au Eq ounces and Inferred oxide Resources total 8.34 Mt grading 0.36\ng/t Au Eq for 96,000 Au Eq ounces, an increase of over 37% compared to the\nresources reported in the 2024 MRE (please see Table One).\n\n* Santa Fe Deposit resources increase by over 26%: Indicated Mineral Resources\nof 31.15 Mt grading 0.99 g/t Au Eq totaling 993,000 Au Eq ounces and Inferred\nMineral Resources of 41.60 Mt grading 0.71 g/t Au Eq totaling 954,000 Au Eq\nounces (please see Table One). \n* The MRE block model shows that gold and silver mineralization extends well\nbeyond the conceptual pit shells, generating high-quality targets for\nadditional drilling and resource growth, including the increasingly important\ndeep sulfide mineralization at Santa Fe, and throughout the Slab-Calvada-York\nresource area (please see map below).\nKimberly Ann, Founder, Executive Chair, CEO, and President of Lahontan Gold\nCorp commented: “Lahontan is excited by the results of this updated MRE for\nthe Santa Fe Mine, particularly the large growth in total resource ounces and\nthe continued expansion of the shallow Slab and York oxide gold and silver\ndeposits. The MRE will form the basis of an updated Preliminary Economic\nAssessment (“PEA”) of the Santa Fe Mine. The PEA will examine mining and\nprocess options utilizing low-cost open-pit mining and heap leach processing\nand very importantly, analyze the mining and processing of Santa Fe’s\nsubstantial sulfide resources as a Second Phase in future mine operations. Our\ntechnical consultants, Kappes, Cassiday and Associates (“KCA”) and RESPEC\nCompany LLC (“RESPEC”), both based in Reno, Nevada, are well advanced at\nproject planning, mine design, finalizing the process flow sheet, and\noptimizing crushing throughput. The Company will use the Phase One oxide\nconventional leach mine plan to complete its State level mine permitting\nprocess and the Company’s Mine Plan of Operation (“MPOO”) with the\nFederal Bureau of Land Management (“BLM”). With the release of the updated\nMRE and the soon to be completed PEA, Lahontan continues its transition from\nmine developer to mine operator, targeting 2027 for mine construction at Santa\nFe.” \n\nTable One.  Mineral Resource summary, Santa Fe Mine project, Mineral County,\nNevada\n\nNotes:\n1. The estimate of mineral resources was done by Michael S. Lindholm, C.P.G.\nof RESPEC in metric tonnes.\n2. In-situ mineral resources are classified in accordance with CIM Standards.\n3. The base case reported mineral resources at a cutoff grade based on a gold\nprice of $3,200/oz Au and a silver price of $40.00/oz Ag is shown in bold and\nhas an effective date of August 13, 2026.\n4. Mineral resources are reported using a cut-off grade of 0.10 g/t Au Eq for\noxide and transitional resources which are reported together, and 0.30 g/t Au\nEq for sulfide resources. Au Eq for the purpose of cut-off grade and reporting\nthe Mineral Resources is based on the following assumptions: gold price/silver\nprice ratio of 70:1, oxide gold recoveries ranging from 60% to 79%, oxide\nsilver recoveries ranging from 0% to 30%, transitional gold recoveries ranging\nfrom 28% to 45%, transitional silver recoveries ranging from 0 to 13%, and\nnon-oxide gold and silver recoveries of 68% except for the York deposit where\nnon-oxide recoveries are estimated to be 0%.\n5. An optimized open-pit shell was used to constrain the Mineral Resource and\nwas generated using Lerchs-Grossman algorithm utilizing the following\nparameters: gold price of US$3,200/oz gold, silver price of US$40.00/oz\nsilver, gold selling costs of US$29.25/oz gold. Mining costs for ore and waste\nof US$2.50/t, processing cost (oxide) US$3.50/t, processing cost (non-oxide)\nUS$25/t, G&A cost US$1.06/t. Royalties for the Slab, York and Calvada deposits\nare 1.25%, and maximum pit slope angles of 50 degrees.\n6. The average grades of the tabulations are comprised of the weighted average\nof block-diluted grades within the optimized pits. \n7. Mineral Resources that are not Mineral Reserves do not have demonstrated\neconomic viability.\n8. Rounding may result in apparent discrepancies between tonnes, grade, and\ncontained metal content.\nSanta Fe Deposit Resources\n\nGold and silver resources in the Santa Fe deposit are a mix of oxide\nmineralization and sulfide mineralization. The oxide material is typically\nprocessed with conventional cyanide heap leaching. The Company believes that\nSanta Fe sulfide mineralization may be amenable to a two-step leaching\nprocess: Prior to conventional cyanide leaching, the rock is subjected to a\nlow-cost oxidizing pre-leach which may dramatically increase gold recoveries.\nColumn leach tests of Santa Fe sulphide mineralization utilizing this\ntechnology are underway.\n\nIndicated oxide Resources for the Santa Fe deposit total 15.90 Mt grading 0.59\ng/t Au Eq for 301,000 Au Eq ounces, Inferred oxide Resources total 13.18 Mt\ngrading 0.41 g/t Au Eq for 172,000 Au Eq ounces. Indicated sulfide Resources\nfor the Santa Fe deposit total 15.25 Mt grading 1.41 g/t Au Eq for 692,000 Au\nEq ounces, Inferred sulfide Resources total 28.42 Mt grading 0.86 g/t Au Eq\nfor 782,000 Au Eq ounces. The higher gold and silver grades in the sulfide\nportion of the deposit reinforce the importance of on-going metallurgical test\nwork. The updated combined sulphide and oxide resources for the Santa Fe\ndeposit are an increase of over 26% compared to the resources reported in the\n2024 MRE (please see Table One for detailed information).\n\nPlan map of the Santa Fe deposit with Mineral Resources projected to the\nsurface.  Note the multiple area where the block model extends beyond the MRE\npit outline, targets for future resource expansion.\n\nSlab-Calvada-York Resources\n\nGold and silver resources for the Slab-Calvada-York (“SCY”) deposits are\nalmost entirely oxide material. Drilling since the 2024 MRE was concentrated\non the Slab and York deposits and has yielded an impressive increase in gold\nand silver resources in these two deposits: Indicated oxide Resources total\n12.09 Mt grading 0.33 g/t Au Eq for 128,000 Au Eq ounces and Inferred oxide\nResources total 8.34 Mt grading 0.36 g/t Au Eq for 96,000 Au Eq ounces, an\nincrease of over 37% compared to the resources reported in the 2024 MRE\n(please see Table One for detailed information).\n\nPlan map of the Slab, Calvada, and York deposits with Mineral Resources\nprojected to the surface.  Like the Santa Fe deposit, there are multiple\nareas where the block model extends beyond the MRE pit outline, targets for\nfuture resource expansion.\n\nEstimation Approach\n\nLithology, alteration and low-grade gold and silver domain wireframes were\nmodelled using Seequent Leapfrog Geo Version 2026.1.2 (with legacy project\nmigration from Version 2025.1). More detailed mid- and high-grade domain\npolygons were modeled in MinePlan on 30m-spaced sections using the lithology\nand low-grade wireframes as a guide. The polygons were snapped to drill holes\nin 3D space and modeled on 6m-spaced plans or long-sections, depending on the\norientation of the mineralization in each deposit. Each plan or long-section\nwas modeled at midblock locations in the block models. Gold and silver domains\nwere modeled separately, and the domain grade breaks were defined based on\ncumulative probability plots for all gold or silver data. Metallurgical\ndomains for oxide, transition and non-oxide were modelled based on ratio of\ncyanide leachable gold assay values to fire assay gold values in addition to\ndrillhole logs recording abundance of pyrite and oxidation intensity. Oxide\nand transition material represent approximately 11% and 25% of tonnes,\nrespectively, in the Santa Fe deposit MRE. Essentially all MRE tonnes in the\nSlab, Calvada Central, Calvada East and York deposits are oxide material. \n\nTwo block models with a block size of 6 m x 6 m x 6 m were created, one for\nthe Santa Fe deposit and the other for the SCY deposits. Average bulk\ndensities were assigned to the block model using a combination of lithology,\nalteration and gold domains. The bedrock densities generally vary from 2.35\nt/m(3) to 2.7 t/m(3); clay alteration, Quaternary alluvium and dump material\nwere assigned density values of 2.24 t/m(3), 1.8 t/m(3) and 1.8 t/m(3),\nrespectively.\n\nGrade capping and outlier restrictions were evaluated independently for each\ngold and silver domain. Top cut values were not determined to be necessary for\nlow- and mid-grade gold domains but were applied to the high-grade and outside\nmodeled gold domains, and to all silver domains prior to compositing to 3.04 m\nlengths that honor domain boundaries. Estimation was completed in MinePlan\nsoftware using Inverse Distance cubed (ID(3)) interpolants. The MRE’s were\nclassified in accordance with the 2014 CIM Definition Standards. The nominal\ndrill-hole spacing for Indicated and Inferred Mineral Resources is 60 m or\nless and 120 m or less, respectively.\n\nProspects for eventual economic extraction were evaluated by performing pit\noptimization using Lerchs-Grossman algorithm with the following parameters:\ngold price of US$3,200/oz gold, silver price of US$40.00/oz silver, selling\ncosts of US$29.25/oz gold. Mining costs for resource and waste of US$2.50/t,\nprocessing cost (oxide) US$3.49/t, processing cost (non-oxide) US$19/t, G&A\ncost US$1.06/t. Royalties for the Slab, York and Calvada deposits are 1.25%.\nMaximum pit slope is 50 degrees. Processing recoveries for oxide gold range\nfrom 60% to 79%, oxide silver recoveries range from 0% to 30%, transitional\ngold recoveries range from 28% to 45%, transitional silver recoveries range\nfrom 0 to 13%, and non-oxide gold and silver recoveries are 68% except for the\nYork deposit where non-oxide recoveries are estimated to be 0%.\n\nFiling of Technical Report\n\nTo support this Santa Fe MRE disclosure, a technical report prepared according\nto National Instrument 43-101 (“Report”) will be filed on SEDAR+ within\nthe next 45 days. The independent Qualified Persons responsible for the MRE\ndisclosure for the Santa Fe Mine in accordance with National Instrument 43-101\nStandards of Disclosure for Mineral Projects are Michael S. Lindholm, C.P.G.,\nand Thomas Dyer, PE, independent consultants to Lahontan Gold Corp. who have\napproved the technical content of this news release.\n\nDeferred Share Unit Grant\n\nThe Company is pleased to announce that on August 10, 2026, it granted an\naggregate of 1,466,000 deferred share units (the “DSUs”) convertible into\ncommon shares of the Company to certain officers and directors of the Company\nin accordance with the terms of the Company’s Restricted Share Unit and\nDeferred Share Unit Plan.\n\nAbout Lahontan Gold Corp.\n\nLahontan Gold Corp. is a Nevada-focused mine development company advancing a\nportfolio of four gold and silver projects in mining-friendly Nevada’s\nprolific Walker Lane. The Company’s primary focus is the restart of its\nflagship, the 28.3 km² Santa Fe Mine project, with a targeted return to\nproduction in 2027.\n* Santa Fe historic production: 359,202 ounces of gold and 702,067 ounces of\nsilver, open pit mining with heap-leach processing (1988-1995; Nevada Bureau\nof Mines).\n* Current Resources: The Santa Fe Mine has a NI 43-101 compliant Indicated\nMineral Resource of 1,195,000 oz Au Eq (47,532,000 tonnes grading 0.72 g/t Au\nand 5.55 g/t Ag, together grading 0.78 g/t Au Eq) and an Inferred Mineral\nResource of 1,190,000 oz Au Eq (60,605,000 tonnes grading 0.59 g/t Au and 2.40\ng/t Ag, together grading 0.61 g/t Au Eq), all pit constrained (Au Eq is\ninclusive of recovery, please see Santa Fe Project Technical Report and note\nbelow*).\n* Objectives 2026: * Complete an updated Preliminary Economic Assessment\n(“PEA”) for the Santa Fe Mine, including the first analysis of mining and\nprocessing sulfide resources,\n* Advancing mine permitting activities with the objective of commencing\nconstruction in 2027,\n* Continue drill testing the satellite West Santa Fe project, with a maiden\nresource estimate targeted by year-end,\n* Conduct exploration drilling at Santa Fe focused on expanding known gold and\nsilver mineralization,\n* Drill test historic heap-leach pads to evaluate residual gold and silver\nmineralization for potential future reprocessing opportunities.\nFor more information, please visit our website: www.lahontangoldcorp.com\n\n* Please see the “Updated Mineral Resource Estimate, NI 43-101 Technical\nReport, Santa Fe Project”, Authors: Michael S. Lindholm, C.P.G., and Thomas\nDyer, PE; Effective Date: August 13, 2026, Report Date: Maximum 45 days from\nAugust 17, 2026. The Technical Report will be available on the Company’s\nwebsite and SEDAR+. Mineral resources are reported using a cut-off grade of\n0.10 g/t AuEq for oxide and transition resources and 0.30 g/t AuEq for\nnon-oxide resources. AuEq for the purpose of cut-off grade and reporting the\nMineral Resources is based on the following assumptions gold price of\nUS$3,250/oz gold, silver price of US$40.00/oz silver, and oxide gold\nrecoveries ranging from 60% to 79%, oxide silver recoveries ranging from 0% to\n30%, transitional gold recoveries ranging from 28% to 45%, transitional silver\nrecoveries ranging from 0 to 13%, and non-oxide gold and silver recoveries of\n68% except for the York deposit where non-oxide recoveries are estimated to be\n0%.\n\nQualified Person\n\nBrian J. Maher, M.Sc., CPG-12342, is a “Qualified Person” as defined under\nCanadian National Instrument 43-101, Standards of Disclosure for Mineral\nProjects, and has reviewed and approved the content of this news release in\nrespect of all technical disclosure other than the Mineral Resource Estimate\nas noted above.‎ Mr. Maher is Vice President, Mine Development & Exploration\nfor Lahontan Gold and has verified the data disclosed in this news release,\nincluding the sampling, ‎‎analytical and test data underlying the\ndisclosure.\n\nOn behalf of the Board of Directors\n\nKimberly Ann \n\nFounder, CEO, President, Executive Chair\n\nFOR FURTHER INFORMATION, PLEASE CONTACT:\n\nLahontan Gold Corp.\n\nKimberly Ann\n\nFounder, CEO, President, Executive Chair\n\nPhone: 1-530-414-4400 \n\nEmail: Kimberly.ann@lahontangoldcorp.com\n\nWebsite: www.lahontangoldcorp.com\n\nCautionary Note Regarding Forward-Looking Statements:\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release. Except for\nstatements of historical fact, this news release contains certain\n\"forward-looking information\" within the meaning of applicable securities law.\nForward-looking information is frequently characterized by words such as\n\"plan\", \"expect\", \"project\", \"intend\", \"believe\", \"anticipate\", \"estimate\" and\nother similar words, or statements that certain events or conditions \"may\" or\n\"will\" occur. Forward-looking statements are based on the opinions and\nestimates at the date the statements are made and are subject to a variety of\nrisks and uncertainties and other factors that could cause actual events or\nresults to differ materially from those anticipated in the forward-looking\nstatements including but not limited to delays or uncertainties with\nregulatory approvals, including that of the TSXV. There are uncertainties\ninherent in forward-looking information, including factors beyond the\nCompany’s control. The Company undertakes no obligation to update\nforward-looking information if circumstances or management's estimates or\nopinions should change except as required by law. The reader is cautioned not\nto place undue reliance on forward-looking statements. Additional information\nidentifying risks and uncertainties that could affect financial results is\ncontained in the Company’s filings with Canadian securities regulators,\nwhich filings are available at www.sedar.com\n\nPhotos accompanying this announcement are available at:\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/d5b5bd5d-682b-4873-89fb-cc85b6df10aa\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/b00d4bf1-1042-4d5a-9df3-c453dfb628d4\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/63f71dcf-2dcf-4842-a678-c1d1268c5f9a\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/06255a7f-7793-44e9-a47c-c0ec3af87188)\nTable One. Mineral Resource summary, Santa Fe Mine project \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d5b5bd5d-682b-4873-89fb-cc85b6df10aa/en)\nTable One. Mineral Resource summary, Santa Fe Mine projectPlan map of the\nSanta Fe deposit with Mineral Resources projected to the surface. \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/b00d4bf1-1042-4d5a-9df3-c453dfb628d4/en)\nPlan map of the Santa Fe deposit with Mineral Resources projected to the\nsurface.Plan map of the Slab, Calvada, and York deposits with Mineral\nResources projected to the surface. \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/63f71dcf-2dcf-4842-a678-c1d1268c5f9a/en)\nPlan map of the Slab, Calvada, and York deposits with Mineral Resources\nprojected to the surface.\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXXNRmz","title":"Lahontan Announces 22% Increase in Mineral Resources at Santa Fe: 1,195,000 Au Eq oz Indicated, and 1,190,000 Au Eq oz Inferred","author":"Globe Newswire","ticker":"LG","created":"2026-08-17T11:00:00.768Z","tickers":["LG"],"exchange":"","article_body":"TORONTO, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG,\nOTCQB:LGCXF, FSE:Y2F) (the \"Company\" or \"Lahontan\") is pleased to announce an\nupdated Mineral Resource Estimate (“MRE”) for its flagship Santa Fe Mine\n(“Santa Fe”), a past-producing open pit, heap leach, gold and silver mine,\nlocated in Nevada’s prolific Walker Lane. The MRE for Santa Fe is based upon\n1,275 drill holes totaling 136,515 metres, including 103 drill holes totaling\n23,805 metres drilled by Lahontan from 2021 through May 2026.\n\nHighlights of the MRE include:\n* Project-wide pit constrained resources increase significantly: Indicated\nMineral Resources of 1,195,000 contained gold equivalent (“Au Eq”) ounces\nand Inferred Mineral Resources of 1,190,000 contained Au Eq ounces, a total\nincrease of 435,000 ounces or 22% over the 2024 MRE (assumptions for Au Eq are\ndescribed in the Notes to Table One). \n* Project-wide average grade for the Indicated Mineral Resource is 0.78 g/t Au\nEq; the average grade of the Project-wide Inferred Mineral Resource is 0.61\ng/t Au Eq (please see Table One).\n\n* Shallow Slab and York oxide resources expand dramatically: Indicated oxide\nResources for the two deposits total 12.09 Mt grading 0.33 g/t Au Eq for\n128,000 Au Eq ounces and Inferred oxide Resources total 8.34 Mt grading 0.36\ng/t Au Eq for 96,000 Au Eq ounces, an increase of over 37% compared to the\nresources reported in the 2024 MRE (please see Table One).\n\n* Santa Fe Deposit resources increase by over 26%: Indicated Mineral Resources\nof 31.15 Mt grading 0.99 g/t Au Eq totaling 993,000 Au Eq ounces and Inferred\nMineral Resources of 41.60 Mt grading 0.71 g/t Au Eq totaling 954,000 Au Eq\nounces (please see Table One). \n* The MRE block model shows that gold and silver mineralization extends well\nbeyond the conceptual pit shells, generating high-quality targets for\nadditional drilling and resource growth, including the increasingly important\ndeep sulfide mineralization at Santa Fe, and throughout the Slab-Calvada-York\nresource area (please see map below).\nKimberly Ann, Founder, Executive Chair, CEO, and President of Lahontan Gold\nCorp commented: “Lahontan is excited by the results of this updated MRE for\nthe Santa Fe Mine, particularly the large growth in total resource ounces and\nthe continued expansion of the shallow Slab and York oxide gold and silver\ndeposits. The MRE will form the basis of an updated Preliminary Economic\nAssessment (“PEA”) of the Santa Fe Mine. The PEA will examine mining and\nprocess options utilizing low-cost open-pit mining and heap leach processing\nand very importantly, analyze the mining and processing of Santa Fe’s\nsubstantial sulfide resources as a Second Phase in future mine operations. Our\ntechnical consultants, Kappes, Cassiday and Associates (“KCA”) and RESPEC\nCompany LLC (“RESPEC”), both based in Reno, Nevada, are well advanced at\nproject planning, mine design, finalizing the process flow sheet, and\noptimizing crushing throughput. The Company will use the Phase One oxide\nconventional leach mine plan to complete its State level mine permitting\nprocess and the Company’s Mine Plan of Operation (“MPOO”) with the\nFederal Bureau of Land Management (“BLM”). With the release of the updated\nMRE and the soon to be completed PEA, Lahontan continues its transition from\nmine developer to mine operator, targeting 2027 for mine construction at Santa\nFe.” \n\nTable One.  Mineral Resource summary, Santa Fe Mine project, Mineral County,\nNevada\n\nNotes:\n1. The estimate of mineral resources was done by Michael S. Lindholm, C.P.G.\nof RESPEC in metric tonnes.\n2. In-situ mineral resources are classified in accordance with CIM Standards.\n3. The base case reported mineral resources at a cutoff grade based on a gold\nprice of $3,200/oz Au and a silver price of $40.00/oz Ag is shown in bold and\nhas an effective date of August 13, 2026.\n4. Mineral resources are reported using a cut-off grade of 0.10 g/t Au Eq for\noxide and transitional resources which are reported together, and 0.30 g/t Au\nEq for sulfide resources. Au Eq for the purpose of cut-off grade and reporting\nthe Mineral Resources is based on the following assumptions: gold price/silver\nprice ratio of 70:1, oxide gold recoveries ranging from 60% to 79%, oxide\nsilver recoveries ranging from 0% to 30%, transitional gold recoveries ranging\nfrom 28% to 45%, transitional silver recoveries ranging from 0 to 13%, and\nnon-oxide gold and silver recoveries of 68% except for the York deposit where\nnon-oxide recoveries are estimated to be 0%.\n5. An optimized open-pit shell was used to constrain the Mineral Resource and\nwas generated using Lerchs-Grossman algorithm utilizing the following\nparameters: gold price of US$3,200/oz gold, silver price of US$40.00/oz\nsilver, gold selling costs of US$29.25/oz gold. Mining costs for ore and waste\nof US$2.50/t, processing cost (oxide) US$3.50/t, processing cost (non-oxide)\nUS$25/t, G&A cost US$1.06/t. Royalties for the Slab, York and Calvada deposits\nare 1.25%, and maximum pit slope angles of 50 degrees.\n6. The average grades of the tabulations are comprised of the weighted average\nof block-diluted grades within the optimized pits. \n7. Mineral Resources that are not Mineral Reserves do not have demonstrated\neconomic viability.\n8. Rounding may result in apparent discrepancies between tonnes, grade, and\ncontained metal content.\nSanta Fe Deposit Resources\n\nGold and silver resources in the Santa Fe deposit are a mix of oxide\nmineralization and sulfide mineralization. The oxide material is typically\nprocessed with conventional cyanide heap leaching. The Company believes that\nSanta Fe sulfide mineralization may be amenable to a two-step leaching\nprocess: Prior to conventional cyanide leaching, the rock is subjected to a\nlow-cost oxidizing pre-leach which may dramatically increase gold recoveries.\nColumn leach tests of Santa Fe sulphide mineralization utilizing this\ntechnology are underway.\n\nIndicated oxide Resources for the Santa Fe deposit total 15.90 Mt grading 0.59\ng/t Au Eq for 301,000 Au Eq ounces, Inferred oxide Resources total 13.18 Mt\ngrading 0.41 g/t Au Eq for 172,000 Au Eq ounces. Indicated sulfide Resources\nfor the Santa Fe deposit total 15.25 Mt grading 1.41 g/t Au Eq for 692,000 Au\nEq ounces, Inferred sulfide Resources total 28.42 Mt grading 0.86 g/t Au Eq\nfor 782,000 Au Eq ounces. The higher gold and silver grades in the sulfide\nportion of the deposit reinforce the importance of on-going metallurgical test\nwork. The updated combined sulphide and oxide resources for the Santa Fe\ndeposit are an increase of over 26% compared to the resources reported in the\n2024 MRE (please see Table One for detailed information).\n\nPlan map of the Santa Fe deposit with Mineral Resources projected to the\nsurface.  Note the multiple area where the block model extends beyond the MRE\npit outline, targets for future resource expansion.\n\nSlab-Calvada-York Resources\n\nGold and silver resources for the Slab-Calvada-York (“SCY”) deposits are\nalmost entirely oxide material. Drilling since the 2024 MRE was concentrated\non the Slab and York deposits and has yielded an impressive increase in gold\nand silver resources in these two deposits: Indicated oxide Resources total\n12.09 Mt grading 0.33 g/t Au Eq for 128,000 Au Eq ounces and Inferred oxide\nResources total 8.34 Mt grading 0.36 g/t Au Eq for 96,000 Au Eq ounces, an\nincrease of over 37% compared to the resources reported in the 2024 MRE\n(please see Table One for detailed information).\n\nPlan map of the Slab, Calvada, and York deposits with Mineral Resources\nprojected to the surface.  Like the Santa Fe deposit, there are multiple\nareas where the block model extends beyond the MRE pit outline, targets for\nfuture resource expansion.\n\nEstimation Approach\n\nLithology, alteration and low-grade gold and silver domain wireframes were\nmodelled using Seequent Leapfrog Geo Version 2026.1.2 (with legacy project\nmigration from Version 2025.1). More detailed mid- and high-grade domain\npolygons were modeled in MinePlan on 30m-spaced sections using the lithology\nand low-grade wireframes as a guide. The polygons were snapped to drill holes\nin 3D space and modeled on 6m-spaced plans or long-sections, depending on the\norientation of the mineralization in each deposit. Each plan or long-section\nwas modeled at midblock locations in the block models. Gold and silver domains\nwere modeled separately, and the domain grade breaks were defined based on\ncumulative probability plots for all gold or silver data. Metallurgical\ndomains for oxide, transition and non-oxide were modelled based on ratio of\ncyanide leachable gold assay values to fire assay gold values in addition to\ndrillhole logs recording abundance of pyrite and oxidation intensity. Oxide\nand transition material represent approximately 11% and 25% of tonnes,\nrespectively, in the Santa Fe deposit MRE. Essentially all MRE tonnes in the\nSlab, Calvada Central, Calvada East and York deposits are oxide material. \n\nTwo block models with a block size of 6 m x 6 m x 6 m were created, one for\nthe Santa Fe deposit and the other for the SCY deposits. Average bulk\ndensities were assigned to the block model using a combination of lithology,\nalteration and gold domains. The bedrock densities generally vary from 2.35\nt/m(3) to 2.7 t/m(3); clay alteration, Quaternary alluvium and dump material\nwere assigned density values of 2.24 t/m(3), 1.8 t/m(3) and 1.8 t/m(3),\nrespectively.\n\nGrade capping and outlier restrictions were evaluated independently for each\ngold and silver domain. Top cut values were not determined to be necessary for\nlow- and mid-grade gold domains but were applied to the high-grade and outside\nmodeled gold domains, and to all silver domains prior to compositing to 3.04 m\nlengths that honor domain boundaries. Estimation was completed in MinePlan\nsoftware using Inverse Distance cubed (ID(3)) interpolants. The MRE’s were\nclassified in accordance with the 2014 CIM Definition Standards. The nominal\ndrill-hole spacing for Indicated and Inferred Mineral Resources is 60 m or\nless and 120 m or less, respectively.\n\nProspects for eventual economic extraction were evaluated by performing pit\noptimization using Lerchs-Grossman algorithm with the following parameters:\ngold price of US$3,200/oz gold, silver price of US$40.00/oz silver, selling\ncosts of US$29.25/oz gold. Mining costs for resource and waste of US$2.50/t,\nprocessing cost (oxide) US$3.49/t, processing cost (non-oxide) US$19/t, G&A\ncost US$1.06/t. Royalties for the Slab, York and Calvada deposits are 1.25%.\nMaximum pit slope is 50 degrees. Processing recoveries for oxide gold range\nfrom 60% to 79%, oxide silver recoveries range from 0% to 30%, transitional\ngold recoveries range from 28% to 45%, transitional silver recoveries range\nfrom 0 to 13%, and non-oxide gold and silver recoveries are 68% except for the\nYork deposit where non-oxide recoveries are estimated to be 0%.\n\nFiling of Technical Report\n\nTo support this Santa Fe MRE disclosure, a technical report prepared according\nto National Instrument 43-101 (“Report”) will be filed on SEDAR+ within\nthe next 45 days. The independent Qualified Persons responsible for the MRE\ndisclosure for the Santa Fe Mine in accordance with National Instrument 43-101\nStandards of Disclosure for Mineral Projects are Michael S. Lindholm, C.P.G.,\nand Thomas Dyer, PE, independent consultants to Lahontan Gold Corp. who have\napproved the technical content of this news release.\n\nDeferred Share Unit Grant\n\nThe Company is pleased to announce that on August 10, 2026, it granted an\naggregate of 1,466,000 deferred share units (the “DSUs”) convertible into\ncommon shares of the Company to certain officers and directors of the Company\nin accordance with the terms of the Company’s Restricted Share Unit and\nDeferred Share Unit Plan.\n\nAbout Lahontan Gold Corp.\n\nLahontan Gold Corp. is a Nevada-focused mine development company advancing a\nportfolio of four gold and silver projects in mining-friendly Nevada’s\nprolific Walker Lane. The Company’s primary focus is the restart of its\nflagship, the 28.3 km² Santa Fe Mine project, with a targeted return to\nproduction in 2027.\n* Santa Fe historic production: 359,202 ounces of gold and 702,067 ounces of\nsilver, open pit mining with heap-leach processing (1988-1995; Nevada Bureau\nof Mines).\n* Current Resources: The Santa Fe Mine has a NI 43-101 compliant Indicated\nMineral Resource of 1,195,000 oz Au Eq (47,532,000 tonnes grading 0.72 g/t Au\nand 5.55 g/t Ag, together grading 0.78 g/t Au Eq) and an Inferred Mineral\nResource of 1,190,000 oz Au Eq (60,605,000 tonnes grading 0.59 g/t Au and 2.40\ng/t Ag, together grading 0.61 g/t Au Eq), all pit constrained (Au Eq is\ninclusive of recovery, please see Santa Fe Project Technical Report and note\nbelow*).\n* Objectives 2026: * Complete an updated Preliminary Economic Assessment\n(“PEA”) for the Santa Fe Mine, including the first analysis of mining and\nprocessing sulfide resources,\n* Advancing mine permitting activities with the objective of commencing\nconstruction in 2027,\n* Continue drill testing the satellite West Santa Fe project, with a maiden\nresource estimate targeted by year-end,\n* Conduct exploration drilling at Santa Fe focused on expanding known gold and\nsilver mineralization,\n* Drill test historic heap-leach pads to evaluate residual gold and silver\nmineralization for potential future reprocessing opportunities.\nFor more information, please visit our website: www.lahontangoldcorp.com\n\n* Please see the “Updated Mineral Resource Estimate, NI 43-101 Technical\nReport, Santa Fe Project”, Authors: Michael S. Lindholm, C.P.G., and Thomas\nDyer, PE; Effective Date: August 13, 2026, Report Date: Maximum 45 days from\nAugust 17, 2026. The Technical Report will be available on the Company’s\nwebsite and SEDAR+. Mineral resources are reported using a cut-off grade of\n0.10 g/t AuEq for oxide and transition resources and 0.30 g/t AuEq for\nnon-oxide resources. AuEq for the purpose of cut-off grade and reporting the\nMineral Resources is based on the following assumptions gold price of\nUS$3,250/oz gold, silver price of US$40.00/oz silver, and oxide gold\nrecoveries ranging from 60% to 79%, oxide silver recoveries ranging from 0% to\n30%, transitional gold recoveries ranging from 28% to 45%, transitional silver\nrecoveries ranging from 0 to 13%, and non-oxide gold and silver recoveries of\n68% except for the York deposit where non-oxide recoveries are estimated to be\n0%.\n\nQualified Person\n\nBrian J. Maher, M.Sc., CPG-12342, is a “Qualified Person” as defined under\nCanadian National Instrument 43-101, Standards of Disclosure for Mineral\nProjects, and has reviewed and approved the content of this news release in\nrespect of all technical disclosure other than the Mineral Resource Estimate\nas noted above.‎ Mr. Maher is Vice President, Mine Development & Exploration\nfor Lahontan Gold and has verified the data disclosed in this news release,\nincluding the sampling, ‎‎analytical and test data underlying the\ndisclosure.\n\nOn behalf of the Board of Directors\n\nKimberly Ann \n\nFounder, CEO, President, Executive Chair\n\nFOR FURTHER INFORMATION, PLEASE CONTACT:\n\nLahontan Gold Corp.\n\nKimberly Ann\n\nFounder, CEO, President, Executive Chair\n\nPhone: 1-530-414-4400 \n\nEmail: Kimberly.ann@lahontangoldcorp.com\n\nWebsite: www.lahontangoldcorp.com\n\nCautionary Note Regarding Forward-Looking Statements:\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release. Except for\nstatements of historical fact, this news release contains certain\n\"forward-looking information\" within the meaning of applicable securities law.\nForward-looking information is frequently characterized by words such as\n\"plan\", \"expect\", \"project\", \"intend\", \"believe\", \"anticipate\", \"estimate\" and\nother similar words, or statements that certain events or conditions \"may\" or\n\"will\" occur. Forward-looking statements are based on the opinions and\nestimates at the date the statements are made and are subject to a variety of\nrisks and uncertainties and other factors that could cause actual events or\nresults to differ materially from those anticipated in the forward-looking\nstatements including but not limited to delays or uncertainties with\nregulatory approvals, including that of the TSXV. There are uncertainties\ninherent in forward-looking information, including factors beyond the\nCompany’s control. The Company undertakes no obligation to update\nforward-looking information if circumstances or management's estimates or\nopinions should change except as required by law. The reader is cautioned not\nto place undue reliance on forward-looking statements. Additional information\nidentifying risks and uncertainties that could affect financial results is\ncontained in the Company’s filings with Canadian securities regulators,\nwhich filings are available at www.sedar.com\n\nPhotos accompanying this announcement are available at:\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/d5b5bd5d-682b-4873-89fb-cc85b6df10aa\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/b00d4bf1-1042-4d5a-9df3-c453dfb628d4\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/63f71dcf-2dcf-4842-a678-c1d1268c5f9a\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/06255a7f-7793-44e9-a47c-c0ec3af87188)\nTable One. Mineral Resource summary, Santa Fe Mine project \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/d5b5bd5d-682b-4873-89fb-cc85b6df10aa/en)\nTable One. Mineral Resource summary, Santa Fe Mine projectPlan map of the\nSanta Fe deposit with Mineral Resources projected to the surface. \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/b00d4bf1-1042-4d5a-9df3-c453dfb628d4/en)\nPlan map of the Santa Fe deposit with Mineral Resources projected to the\nsurface.Plan map of the Slab, Calvada, and York deposits with Mineral\nResources projected to the surface. \n(https://www.globenewswire.com/NewsRoom/AttachmentNg/63f71dcf-2dcf-4842-a678-c1d1268c5f9a/en)\nPlan map of the Slab, Calvada, and York deposits with Mineral Resources\nprojected to the surface.\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-08-17T11:00:00.808076618Z","server_sent_at_ms":1786964400808},"received_at":"2026-08-17T11:00:01.232Z","source_url":"https://www.globenewswire.com/news-release/2026/08/17/3345956/0/en/lahontan-announces-22-increase-in-mineral-resources-at-santa-fe-1-195-000-au-eq-oz-indicated-and-1-190-000-au-eq-oz-inferred.html"},"analysis":{"id":"109275","press_release_id":"120286","analysis_json":{"industry":{"label":"Gold","sector":"Materials"},"redFlags":[],"eventType":"operations_update","narrative":"Lahontan Gold announced a 22% increase in total mineral resources at its Santa Fe Mine to 2.385 million Au Eq ounces, comprising 1.195 million Indicated and 1.19 million Inferred ounces.\n\nOxide resources at the Slab and York deposits expanded by over 37%, while the Santa Fe deposit saw a 26% increase, supporting a planned update to the Preliminary Economic Assessment.\n\nManagement targets 2027 for mine construction, with permitting activities advancing for the restart of operations using low-cost open-pit mining and heap leach processing.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Santa Fe resources jump 22% to 2.4M oz Au Eq as Lahontan targets 2027 production."},"keyFigures":{"customDimensions":{"dsu_grant":1466000,"inferred_oz_au_eq":1190000,"indicated_oz_au_eq":1195000,"total_resource_increase_oz":435000,"oxide_resource_increase_pct":"37%","total_resource_increase_pct":"22%","santa_fe_deposit_increase_pct":"26%"}},"quotedText":"Lahontan is excited by the results of this updated MRE for the Santa Fe Mine, particularly the large growth in total resource ounces and the continued expansion of the shallow Slab and York oxide gold and silver deposits.","namedEntities":{"people":[{"name":"Kimberly Ann","role":"Founder, Executive Chair, CEO, and President"},{"name":"Michael S. Lindholm","role":"Independent Consultant, C.P.G."},{"name":"Thomas Dyer","role":"Independent Consultant, PE"},{"name":"Brian J. Maher","role":"Vice President, Mine Development & Exploration"}],"products":["Santa Fe Mine","Shallow Slab","York","Calvada"],"companies":[{"name":"Lahontan Gold Corp.","ticker":"LG"},{"name":"Kappes, Cassiday and Associates","relationship":"technical consultant"},{"name":"RESPEC Company LLC","relationship":"technical consultant"}],"dollarAmounts":[{"amount":"US$3,200/oz","context":"gold price assumption for Mineral Resource Estimate"},{"amount":"US$40.00/oz","context":"silver price assumption for Mineral Resource Estimate"}]},"materialImpact":{"score":3,"reasoning":"Significant 22% increase in total mineral resources (435,000 oz Au Eq) and 37% expansion in oxide resources at the flagship Santa Fe project. While resource estimates lack demonstrated economic viability compared to reserves, this growth materially upgrades the project profile for a development-stage junior miner."},"tickerRelevance":{"others":[],"primary":"LG"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"TSXV_Junior_Miner","eventGravity":"Resource_Expansion_22%","sectorWeight":"Mining"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":3,"narrative":"Lahontan Gold announced a 22% increase in total mineral resources at its Santa Fe Mine to 2.385 million Au Eq ounces, comprising 1.195 million Indicated and 1.19 million Inferred ounces.\n\nOxide resources at the Slab and York deposits expanded by over 37%, while the Santa Fe deposit saw a 26% increase, supporting a planned update to the Preliminary Economic Assessment.\n\nManagement targets 2027 for mine construction, with permitting activities advancing for the restart of operations using low-cost open-pit mining and heap leach processing.","key_figures":{"customDimensions":{"dsu_grant":1466000,"inferred_oz_au_eq":1190000,"indicated_oz_au_eq":1195000,"total_resource_increase_oz":435000,"oxide_resource_increase_pct":"37%","total_resource_increase_pct":"22%","santa_fe_deposit_increase_pct":"26%"}},"named_entities":{"people":[{"name":"Kimberly Ann","role":"Founder, Executive Chair, CEO, and President"},{"name":"Michael S. Lindholm","role":"Independent Consultant, C.P.G."},{"name":"Thomas Dyer","role":"Independent Consultant, PE"},{"name":"Brian J. Maher","role":"Vice President, Mine Development & Exploration"}],"products":["Santa Fe Mine","Shallow Slab","York","Calvada"],"companies":[{"name":"Lahontan Gold Corp.","ticker":"LG"},{"name":"Kappes, Cassiday and Associates","relationship":"technical consultant"},{"name":"RESPEC Company LLC","relationship":"technical consultant"}],"dollarAmounts":[{"amount":"US$3,200/oz","context":"gold price assumption for Mineral Resource Estimate"},{"amount":"US$40.00/oz","context":"silver price assumption for Mineral Resource Estimate"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-17T11:08:55.776Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"TSXV_Junior_Miner","eventGravity":"Resource_Expansion_22%","sectorWeight":"Mining"}},"durationMs":116166,"modelName":"glm-4.7"}}