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

TORONTO, Aug. 17, 2026 (GLOBE NEWSWIRE) — Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the “ Company ” or “ Lahontan “) is pleased to announce an updated Mineral Resource Estimate (“ MRE ”) for its flagship Santa Fe Mine (“ Santa Fe ”), a past-producing open pit, heap leach, gold and silver mine, located in Nevada’s prolific Walker Lane. The MRE for Santa Fe is based upon 1,275 drill holes totaling 136,515 metres, including 103 drill holes totaling 23,805 metres drilled by Lahontan from 2021 through May 2026.

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Kimberly Ann, Founder, Executive Chair, CEO, and President of Lahontan Gold Corp commented: “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. The MRE will form the basis of an updated Preliminary Economic Assessment (“ PEA ”) of the Santa Fe Mine. The PEA will examine mining and process options utilizing low-cost open-pit mining and heap leach processing and very importantly , analyze the mining and processing of Santa Fe’s substantial sulfide resources as a Second Phase in future mine operations. Our technical consultants, Kappes, Cassiday and Associates (“ KCA ”) and RESPEC Company LLC (“ RESPEC ”), both based in Reno, Nevada, are well advanced at project planning, mine design, finalizing the process flow sheet, and optimizing crushing throughput. The Company will use the Phase One oxide conventional leach mine plan to complete its State level mine permitting process and the Company’s Mine Plan of Operation (“ MPOO ”) with the Federal Bureau of Land Management (“ BLM ”). With the release of the updated MRE and the soon to be completed PEA, Lahontan continues its transition from mine developer to mine operator, targeting 2027 for mine construction at Santa Fe.”