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Lahontan Gold Corp. is a Nevada-focused mine development company advancing a portfolio of four gold and silver projects in mining-friendly Nevada’s prolific Walker Lane. The Company’s primary focus is the restart of its flagship, the 28.3 km² Santa Fe Mine project, with a targeted return to production in 2027.

Santa Fe Mine historic production: 359,202 ounces of gold and 702,067 ounces of silver, open pit mining with heap-leach processing (1988-1995; Nevada Bureau of Mines).

Current Resources: The Santa Fe Mine has a NI 43-101 compliant Indicated Mineral Resource of 1,195,000 oz Au Eq (47,532,000 tonnes grading 0.72 g/t Au and 5.55 g/t Ag, together grading 0.78 g/t Au Eq) and an Inferred Mineral Resource of 1,190,000 oz Au Eq (60,605,000 tonnes grading 0.59 g/t Au and 2.40 g/t Ag, together grading 0.61 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*).

The recent PEA update demonstrates strong project economics, with a post-tax NPV5 of US$820 million and an IRR of 40.1% at base-case metal prices of US$3,600/oz gold and US$49/oz silver. The project is projected to generate US$3.68 billion in life-of-mine revenue and US$1.32 billion in after-tax net cash flow over an 11-year active mine life, followed by one year of residual leaching.

The project offers significant upside potential under higher metal-price assumptions, with the PEA spot-price case of US$4,166/oz gold and US$59/oz silver increasing post-tax NPV5 to US$1.13 billion and IRR to 50.4%.

Objectives 2026:

Advancing mine permitting activities with the objective of commencing construction in 2027,

Continue drill testing the satellite West Santa Fe project, with a maiden resource estimate targeted by year-end,

Conduct exploration drilling at Santa Fe focused on expanding known gold and silver mineralization,

Drill test historic heap-leach pads to evaluate residual gold and silver mineralization for potential future reprocessing opportunities.

Santa Fe Mine – Key Highlights
• Historic production: 359,202 ounces of gold and 702,067 ounces of silver produced through open-pit mining and heap-leach processing between 1988 and 1995 (Nevada Bureau of Mines).
• Current Mineral Resources: NI 43-101 compliant, pit-constrained resources of: o Indicated: 1.195 Moz Au Eq across 47.532 Mt grading 0.72 g/t Au and 5.55 g/t Ag (0.78 g/t Au Eq). o Inferred: 1.190 Moz Au Eq across 60.605 Mt grading 0.59 g/t Au and 2.40 g/t Ag (0.61 g/t Au Eq).

Management Profile:
Kimberly Ann - FOUNDER, CEO, PRESIDENT & EXECUTIVE CHAIR 
Kimberly has raised more than $210 million in project financing and participated in three junior-mining M&A transactions. She led Prodigy Gold through its $340 million acquisition by Argonaut Gold, held a senior role at Waterton Global Resource Management and helped bring PPX Mining's Callanquitas mine into production in Peru.

What are your key goals for the next 3 months?:

Advancing mine permitting activities with the objective of commencing construction in 2027,

Continue drill testing the satellite West Santa Fe project, with a maiden resource estimate targeted by year-end,

Conduct exploration drilling at Santa Fe focused on expanding known gold and silver mineralization,

Drill test historic heap-leach pads to evaluate residual gold and silver mineralization for potential future reprocessing opportunities.

What do you think makes your company such a compelling investment?:

Imminent return to production, Santa Fe offers significant upside potential under higher metal-price assumptions, with the PEA spot-price case of US$4,166/oz gold and US$59/oz silver increasing post-tax NPV5 to US$1.13 billion and IRR to 50.4%.

What are the top 3 key investor takeaways?:

- District scale 51-square-kilometer land package in the highly regarded Walker Lane district in Nevada, one of the world’s top regions for exploration and development.

- Gold and silver mineral inventory remains open and unconstrained by both drilling and geological factors. The updated Mineral Resource Estimate significantly increased project-wide pit constrained resources and demonstrated potential for further resource growth.

- Historic mining underscores the potential for massive upside.