Lahontan Gold Secures C$4.3 Million Through Warrant and Option Exercises, Funding Nevada Exploration

Lahontan Gold Corp. has received C$4,316,948 from the exercise of warrants and stock options between July 4 and October 23, 2025, resulting in 334,420,221 common shares outstanding. The substantial capital infusion represents a significant vote of confidence from shareholders and positions the company for accelerated exploration activities at its Nevada gold properties. The proceeds will fund exploration and mine development at the company's Nevada projects, including the Santa Fe and West Santa Fe sites located in the Walker Lane gold belt.

CEO Kimberly Ann stated that the exercises demonstrate strong shareholder confidence and leave Lahontan fully financed for its fall drilling programs while tightening the company's share structure for future growth. This financial strengthening comes at a critical time as the company advances its flagship Santa Fe Mine project toward production. The Santa Fe Mine project spans 26.4 km² and has a significant history of past production, yielding 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing.

Current mineral resources at Santa Fe include a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq, all pit constrained. The technical content of the company's disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101. For additional technical details, investors can refer to the Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project available on the company's website and SEDAR+.

The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The successful capital raise through warrant and option exercises provides the necessary funding to execute these strategic initiatives without requiring additional external financing. The timing of this capital infusion is particularly significant given the company's ambitious 2025 exploration and development schedule.

With the fall drilling programs now fully funded, Lahontan can aggressively pursue resource expansion and development activities at both the Santa Fe and West Santa Fe projects. The tightened share structure resulting from the warrant and option exercises also positions the company more favorably for future capital markets activities and potential partnerships. This internal financing approach demonstrates shareholder commitment while avoiding dilution from external capital raises, providing a strong foundation for the company's near-term operational objectives.