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

Lahontan Gold Corp. (TSXV:LG,OTC:LGCXF, 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.

Highlights of the MRE include:

Project-wide pit constrained resources increase significantly: Indicated Mineral Resources of 1,195,000 contained gold equivalent ("Au Eq") ounces and Inferred Mineral Resources of 1,190,000 contained Au Eq ounces, a total increase of 435,000 ounces or 22% over the 2024 MRE (assumptions for Au Eq are described in the Notes to Table One).
Project-wide average grade for the Indicated Mineral Resource is 0.78 g/t Au Eq; the average grade of the Project-wide Inferred Mineral Resource is 0.61 g/t Au Eq (please see Table One).
Shallow Slab and York oxide resources expand dramatically: Indicated oxide Resources for the two deposits total 12.09 Mt grading 0.33 g/t Au Eq for 128,000 Au Eq ounces and Inferred oxide Resources total 8.34 Mt grading 0.36 g/t Au Eq for 96,000 Au Eq ounces, an increase of over 37% compared to the resources reported in the 2024 MRE (please see Table One).
Santa Fe Deposit resources increase by over 26%: Indicated Mineral Resources of 31.15 Mt grading 0.99 g/t Au Eq totaling 993,000 Au Eq ounces and Inferred Mineral Resources of 41.60 Mt grading 0.71 g/t Au Eq totaling 954,000 Au Eq ounces (please see Table One).
The MRE block model shows that gold and silver mineralization extends well beyond the conceptual pit shells, generating high-quality targets for additional drilling and resource growth, including the increasingly important deep sulfide mineralization at Santa Fe, and throughout the Slab-Calvada-York resource area (please see map below).

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."

PR - MRE Update 13AUG2026 FINAL FINAL-2 copy
Table One. Mineral Resource summary, Santa Fe Mine project, Mineral County, Nevada

Notes:

The estimate of mineral resources was done by Michael S. Lindholm, C.P.G. of RESPEC in metric tonnes.
In-situ mineral resources are classified in accordance with CIM Standards.
The base case reported mineral resources at a cutoff grade based on a gold price of $3,200/oz Au and a silver price of $40.00/oz Ag is shown in bold and has an effective date of August 13, 2026.
Mineral resources are reported using a cut-off grade of 0.10 g/t Au Eq for oxide and transitional resources which are reported together, and 0.30 g/t Au Eq for sulfide resources. Au Eq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions: gold price/silver price ratio of 70:1, oxide gold recoveries ranging from 60% to 79%, oxide silver recoveries ranging from 0% to 30%, transitional gold recoveries ranging from 28% to 45%, transitional silver recoveries ranging from 0 to 13%, and non-oxide gold and silver recoveries of 68% except for the York deposit where non-oxide recoveries are estimated to be 0%.
An optimized open-pit shell was used to constrain the Mineral Resource and was generated using Lerchs-Grossman algorithm utilizing the following parameters: gold price of US$3,200/oz gold, silver price of US$40.00/oz silver, gold selling costs of US$29.25/oz gold. Mining costs for ore and waste of US$2.50/t, processing cost (oxide) US$3.50/t, processing cost (non-oxide) US$25/t, G&A cost US$1.06/t. Royalties for the Slab, York and Calvada deposits are 1.25%, and maximum pit slope angles of 50 degrees.
The average grades of the tabulations are comprised of the weighted average of block-diluted grades within the optimized pits.
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
Rounding may result in apparent discrepancies between tonnes, grade, and contained metal content.

Santa Fe Deposit Resources

Gold and silver resources in the Santa Fe deposit are a mix of oxide mineralization and sulfide mineralization. The oxide material is typically processed with conventional cyanide heap leaching. The Company believes that Santa Fe sulfide mineralization may be amenable to a two-step leaching process: Prior to conventional cyanide leaching, the rock is subjected to a low-cost oxidizing pre-leach which may dramatically increase gold recoveries. Column leach tests of Santa Fe sulphide mineralization utilizing this technology are underway.

Indicated oxide Resources for the Santa Fe deposit total 15.90 Mt grading 0.59 g/t Au Eq for 301,000 Au Eq ounces, Inferred oxide Resources total 13.18 Mt grading 0.41 g/t Au Eq for 172,000 Au Eq ounces. Indicated sulfide Resources for the Santa Fe deposit total 15.25 Mt grading 1.41 g/t Au Eq for 692,000 Au Eq ounces, Inferred sulfide Resources total 28.42 Mt grading 0.86 g/t Au Eq for 782,000 Au Eq ounces. The higher gold and silver grades in the sulfide portion of the deposit reinforce the importance of on-going metallurgical test work. The updated combined sulphide and oxide resources for the Santa Fe deposit are an increase of over 26% compared to the resources reported in the 2024 MRE (please see Table One for detailed information).

Plan Map of Santa Fe deposit
Plan map of the Santa Fe deposit with Mineral Resources projected to the surface. Note the multiple area where the block model extends beyond the MRE pit outline, targets for future resource expansion.

Slab-Calvada-York Resources

Gold and silver resources for the Slab-Calvada-York ("SCY") deposits are almost entirely oxide material. Drilling since the 2024 MRE was concentrated on the Slab and York deposits and has yielded an impressive increase in gold and silver resources in these two deposits: Indicated oxide Resources total 12.09 Mt grading 0.33 g/t Au Eq for 128,000 Au Eq ounces and Inferred oxide Resources total 8.34 Mt grading 0.36 g/t Au Eq for 96,000 Au Eq ounces, an increase of over 37% compared to the resources reported in the 2024 MRE (please see Table One for detailed information).

Plan Map of Deposits Plan map of the Slab, Calvada, and York deposits with Mineral Resources projected to the surface. Like the Santa Fe deposit, there are multiple areas where the block model extends beyond the MRE pit outline, targets for future resource expansion.

Estimation Approach

Lithology, alteration and low-grade gold and silver domain wireframes were modelled using Seequent Leapfrog Geo Version 2026.1.2 (with legacy project migration from Version 2025.1). More detailed mid- and high-grade domain polygons were modeled in MinePlan on 30m-spaced sections using the lithology and low-grade wireframes as a guide. The polygons were snapped to drill holes in 3D space and modeled on 6m-spaced plans or long-sections, depending on the orientation of the mineralization in each deposit. Each plan or long-section was modeled at midblock locations in the block models. Gold and silver domains were modeled separately, and the domain grade breaks were defined based on cumulative probability plots for all gold or silver data. Metallurgical domains for oxide, transition and non-oxide were modelled based on ratio of cyanide leachable gold assay values to fire assay gold values in addition to drillhole logs recording abundance of pyrite and oxidation intensity. Oxide and transition material represent approximately 11% and 25% of tonnes, respectively, in the Santa Fe deposit MRE. Essentially all MRE tonnes in the Slab, Calvada Central, Calvada East and York deposits are oxide material.

Two block models with a block size of 6 m x 6 m x 6 m were created, one for the Santa Fe deposit and the other for the SCY deposits. Average bulk densities were assigned to the block model using a combination of lithology, alteration and gold domains. The bedrock densities generally vary from 2.35 t/m³ to 2.7 t/m³; clay alteration, Quaternary alluvium and dump material were assigned density values of 2.24 t/m³, 1.8 t/m³ and 1.8 t/m³, respectively.

Grade capping and outlier restrictions were evaluated independently for each gold and silver domain. Top cut values were not determined to be necessary for low- and mid-grade gold domains but were applied to the high-grade and outside modeled gold domains, and to all silver domains prior to compositing to 3.04 m lengths that honor domain boundaries. Estimation was completed in MinePlan software using Inverse Distance cubed (ID³) interpolants. The MRE's were classified in accordance with the 2014 CIM Definition Standards. The nominal drill-hole spacing for Indicated and Inferred Mineral Resources is 60 m or less and 120 m or less, respectively.

Prospects for eventual economic extraction were evaluated by performing pit optimization using Lerchs-Grossman algorithm with the following parameters: gold price of US$3,200/oz gold, silver price of US$40.00/oz silver, selling costs of US$29.25/oz gold. Mining costs for resource and waste of US$2.50/t, processing cost (oxide) US$3.49/t, processing cost (non-oxide) US$19/t, G&A cost US$1.06/t. Royalties for the Slab, York and Calvada deposits are 1.25%. Maximum pit slope is 50 degrees. Processing recoveries for oxide gold range from 60% to 79%, oxide silver recoveries range from 0% to 30%, transitional gold recoveries range from 28% to 45%, transitional silver recoveries range from 0 to 13%, and non-oxide gold and silver recoveries are 68% except for the York deposit where non-oxide recoveries are estimated to be 0%.

Filing of Technical Report

To support this Santa Fe MRE disclosure, a technical report prepared according to National Instrument 43-101 ("Report") will be filed on SEDAR+ within the next 45 days. The independent Qualified Persons responsible for the MRE disclosure for the Santa Fe Mine in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects are Michael S. Lindholm, C.P.G., and Thomas Dyer, PE, independent consultants to Lahontan Gold Corp. who have approved the technical content of this news release.

Deferred Share Unit Grant

The Company is pleased to announce that on August 10, 2026, it granted an aggregate of 1,466,000 deferred share units (the "DSUs") convertible into common shares of the Company to certain officers and directors of the Company in accordance with the terms of the Company's Restricted Share Unit and Deferred Share Unit Plan.

About Lahontan Gold Corp.

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 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*).
Objectives 2026:
- Complete an updated Preliminary Economic Assessment ("PEA") for the Santa Fe Mine, including the first analysis of mining and processing sulfide resources,
- 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.

For more information, please visit our website: www.lahontangoldcorp.com

* Please see the "Updated Mineral Resource Estimate, NI 43-101 Technical Report, Santa Fe Project", Authors: Michael S. Lindholm, C.P.G., and Thomas Dyer, PE; Effective Date: August 13, 2026, Report Date: Maximum 45 days from August 17, 2026. The Technical Report will be available on the Company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.10 g/t AuEq for oxide and transition resources and 0.30 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$3,250/oz gold, silver price of US$40.00/oz silver, and oxide gold recoveries ranging from 60% to 79%, oxide silver recoveries ranging from 0% to 30%, transitional gold recoveries ranging from 28% to 45%, transitional silver recoveries ranging from 0 to 13%, and non-oxide gold and silver recoveries of 68% except for the York deposit where non-oxide recoveries are estimated to be 0%.

Qualified Person

Brian J. Maher, M.Sc., CPG-12342, is a "Qualified Person" as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Vice President, Mine Development & Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.

On behalf of the Board of Directors

Kimberly Ann

Founder, CEO, President, Executive Chair

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.

Kimberly Ann

Founder, CEO, President, Executive Chair

Phone: 1-530-414-4400

Email: Kimberly.ann@lahontangoldcorp.com

Website: www.lahontangoldcorp.com

Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d5b5bd5d-682b-4873-89fb-cc85b6df10aa
https://www.globenewswire.com/NewsRoom/AttachmentNg/b00d4bf1-1042-4d5a-9df3-c453dfb628d4
https://www.globenewswire.com/NewsRoom/AttachmentNg/63f71dcf-2dcf-4842-a678-c1d1268c5f9a

News Provided by GlobeNewswire via QuoteMedia

lahontan gold corp.LG:CC tsxv:lg precious metals investing

LG:CC

Lahontan Gold Corp.

Keep Reading...

Overview

Lahontan Gold (TSXV:LG,OTCQB LGCXF) is advancing a portfolio of 100 percent-controlled gold and silver assets in Nevada’s Walker Lane, led by the Santa Fe Mine, a past-producing open-pit heap leach operation. The company has expanded the mineral resource and is now advancing permitting and technical studies to support the project’s development. Management is driving multiple technical workstreams simultaneously, spanning state and federal permitting, metallurgical optimizations via an on-site laboratory, and engineering studies to support its upcoming production restart.

Lahontan Gold drilling exploration rig set up

An updated NI 43-101 Mineral Resource Estimate has been completed, showing an overall 22 percent increase from the 2024 MRE. The project now hosts indicated mineral resources of 31.15 Mt grading 0.99 g/t gold equivalent, totaling 993,000 gold equivalent ounces and inferred mineral resources of 41.60 Mt grading 0.71 g/t gold equivalent, totaling 954,000 gold equivalent ounces. That estimate fed directly into the updated PEA announced in October, which outlines an 11-year mine life and average annual production of about 91,900 gold-equivalent ounces.

The company is now focused on filing the supporting technical report and submitting the final Mine Plan of Operations to the U.S. Bureau of Land Management. Construction permits are expected in 2027.

Value creation is supported by aggressive, multi-rig exploration campaigns designed to scale the resource base rapidly. The 2026 campaign deploys a three-pronged approach: a 10,000-metre Reverse Circulation program chasing new exploration targets, a 2,023-metre core drilling program to finalize mine permitting data, and a 1,740-metre sonic program executing 96 drill holes into historic heap leach pads to add low-cost ounces directly to the mine life.

The execution of this corporate strategy is guided by a founder-led management team and an independent board with deep operational histories in the Great Basin. This leadership capability is validated by a corporate share structure that features 41 percent institutional ownership—including resource funds like MERK, EMA (Larry Lepard), APAC, and PALOS—alongside 6 percent insider ownership.

Note: Mineral resources are not mineral reserves and do not demonstrate economic viability.

Company Highlights

District-scale Nevada Portfolio: Lahontan Gold is advancing a portfolio of 100 percent-controlled gold and silver projects in Nevada’s Walker Lane, anchored by the Santa Fe Mine and complemented by the West Santa Fe and Moho projects.
Flagship Brownfields Development: The Santa Fe Mine is a past-producing open-pit heap leach gold and silver operation that produced approximately 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1994.
Large Mineral Resource: The Santa Fe mine project hosts a pit-constrained indicated mineral resource of 1,195,000 contained gold equivalent ounces grading 0.78 grams per tonne gold equivalent, and inferred mineral resources of 1,190,000 contained gold equivalent ounces grading 0.61 grams per tonne gold equivalent. Its updated MRE shows a 435,000-ounce, or 22 percent, increase from its 2024 MRE.
Robust Project Economics: An updated 2026 Preliminary Economic Assessment (PEA) shows a post-tax NPV of US$820 million and a 40.1 percent IRR over an 11-year mine life, based on gold and silver prices of US$3,600 per ounce and US$49 per ounce, respectively.
Established Infrastructure: Santa Fe benefits from infrastructure including year-round access, an active substation on site, access to four water wells, and property power lines.
Top Rated Mining Jurisdiction: Nevada is the world’s top-rated mining jurisdiction as ranked by the 2025 Fraser Institute Survey, featuring straightforward permitting.

Key Projects

Santa Fe Mine (Flagship Brownfields Asset)

Map of Lahontan Gold project location with neighboring projects and owners

The Santa Fe Mine is Lahontan’s flagship, 100 percent-controlled gold and silver project located in Nevada’s Walker Lane. Covering a district-scale land package of more than 28 square kilometres, the past-producing open-pit heap leach operation produced 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1994.

Current resource modeling shows substantial gold oxide mineralization remaining directly within the high-wall and pit bottoms, which feature highly competent wall rock and stable 50-degree pit slopes. The company completed an updated Mineral Resource Estimate for the project in August 2026, showing an overall 22 percent increase from the 2024 MRE. The project now hosts indicated mineral resources of 31.15 Mt grading 0.99 g/t gold equivalent totaling 993,000 gold equivalent ounces and inferred mineral resources of 41.60 Mt grading 0.71 g/t gold equivalent totaling 954,000 gold equivalent ounces.

The updated resource estimate also includes an indicated oxide and transitional resource of 15.9 million tonnes grading 0.57 g/t gold, alongside 15.2 million tonnes of indicated sulfide grading 1.24 g/t gold.

Lahontan Gold's drill hole location and geology map of the Santa Fe Mine project

Recent drilling has successfully demonstrated that the resource base remains open for depth and strike expansion. Deep core drilling beneath the conceptual pit boundaries at the Calvada deposit intercepted 90.8 metres grading 0.44 g/t gold equivalent oxide, confirming significant down-dip expansion potential. Simultaneously, 2026 step-out exploration drilling discovered a brand-new gold zone called West Slab, yielding unconstrained structural intercepts of 35.0 metres grading 0.34 g/t gold equivalent and 61.0 metres grading 0.26 g/t gold equivalent.

An updated PEA for Santa Fe outlined an 11-year mine life and a post-tax NPV of US$820 million at base-case prices of US$3,600/oz gold and US$49/oz silver. The study estimates a 40.1 percent IRR and US$1.32 billion in after-tax life-of-mine net cash flow.

Average annual production is projected at about 91,900 gold-equivalent ounces, increasing to about 112,500 in years four to eleven. Estimated gold cash costs are US$1,909/oz and AISC is US$2,250/oz. Pre-production capital is US$172 million, with a projected payback of 3.7 years. The capital cost estimate in the PEA update includes a 20 percent contingency.

Note: Mineral resources are not mineral reserves and do not demonstrate economic viability.

West Santa Fe (Satellite Oxide Asset)

West Santa Fe is a satellite project located just 13 kilometres west of the main Santa Fe Mine infrastructure, encompassing a 19 square kilometre land package. The asset features gold and silver mineralization starting directly at surface and has the potential to host a significant shallow oxide gold and silver resource.

Recent twin-hole drilling has confirmed the validity of the historical database while delivering exceptional grades. Reverse Circulation hole WSF25-04R hit 36.6 metres grading 3.11 g/t gold equivalent from the surface, including a high-grade zone of 10.7 metres grading 5.75 g/t gold equivalent in completely oxidized material. Metallurgical testing highlights excellent processing characteristics; historic column leach tests showed 70 percent gold and 50 percent silver recoveries, while recent cyanide-extractable assay results outperformed expectations with an average gold recovery of 81 percent and silver recovery of 60 percent. Because the deposit aligns structurally as a look-alike to the main Santa Fe pit, it is being designed as a low-cost, open-pit satellite operation that can feed directly into the flagship processing hub.

Moho Mine (Satellite High-Grade Asset)

The Moho Mine represents a satellite high-grade gold and silver asset within Lahontan’s regional Walker Lane portfolio. Characterized by an extensive multiple-vein system, the historic underground asset features historic mining grades of 25 g/t gold and 300 g/t silver. It provides the company with localized, high-grade exploration targets that run parallel to its primary large-scale gold oxide heap-leach development projects.

Management Team

Kimberly Ann – Founder, Executive Chair, President and CEO

Kimberly Ann has more than a decade of experience founding and financing junior resource companies, raising more than US$300 million in capital and participating in multiple mergers, acquisitions and corporate transactions in the mining sector. She has also raised more than US$210 million in project financing and participated in three M&A transactions. Previously, she led Prodigy Gold through its $340 million acquisition by Argonaut Gold, held senior roles at Waterton Global Resource Management and helped bring PPX Mining's Callanquitas gold-silver mine into production in Peru. She is currently a Managing Partner of KA Gold LLC.

Brian Maher – Founder, Senior Vice President - Mine Development & Exploration

Brian Maher is a certified professional geologist. He previously served as President and CEO of Prodigy Gold, guiding exploration and development of the Magino deposit through the company's $341 million acquisition. His career includes sixteen years with ASARCO and senior exploration roles with Metallic Ventures Gold and Hochschild Mining.

Tony Gesualdo — Vice President, Exploration

Tony Gesualdo is a structural and economic geologist focusing on early-stage exploration, resource development, open-pit expansion and underground production geology. He previously worked as Senior Exploration Geologist at McEwen Inc., and also held roles in companies such as Coeur Mining, OceanaGold and Barrick Gold. He is the former Exploration Manager at Lahontan Gold and was instrumental to the development of the initial MRE at Santa Fe.

Billy Choi – Chief Financial Officer

Billy Choi holds extensive experience in public-company finance, capital markets, and transaction management. His background includes financial reporting and prospectus readiness, strengthening internal controls and financial processes, and helping build finance infrastructure for resource companies. He recently served as Vice President of Finance at Lithium Royalty Corp, where he played a significant role in the company’s public trading activities.

Chris Irwin - Corporate Secretary

Chris Irwin is a securities and corporate-commercial lawyer for public companies, boards and independent committees. He has served as a director and officer for numerous businesses such as those acquired by IAMGOLD, Goldcorp and First Majestic Silver. He is currently a Managing Partner of Irwin Lowy LLP.

Jen Earle - Investor Relations and Business Development

Jen brings two decades of experience in the natural resources sector, with extensive expertise in investor relations, capital markets, and strategic investor engagement for companies listed on the LSE, ASX and TSX. Her career spans junior mining companies with assets across multiple jurisdictions and a FTSE 250 oil and gas company, giving her broad experience across the natural resource and international capital markets landscape. Throughout her career, she has led and delivered capital market days, international field programs and global roadshows, developing meaningful relationships with investors and helping companies effectively communicate their strategy, assets and growth opportunities to the market.

Board of Directors

Miranda Werstiuk – Independent Director

Miranda Werstiuk holds over 30 years of experience across global resource markets, specializing in equity, debt and alternative financing for natural-resource, technology and renewable-energy companies. She currently serves on the board of Guanajuato Silver Company and is active in the PDAC, CIM and Women in Mining.

Shane Williams – Independent Director

Shane Williams is CEO and President of West Red Lake Gold Mines and previously served as COO of Skeena Resources. At Eldorado Gold, he led the Lamaque project from PEA to commercial operation in 18 months. His career also includes open-pit project roles with Rio Tinto and Kaunis Iron.

Evan Pelletier – Independent Director

Evan Pelletier has over 30 years of underground operating and project-delivery experience.

His career includes senior roles with Americas Gold & Silver and Kirkland Lake Gold, where he served at the Macassa mine during a period of significant growth. His international experience spans Mongolia, Argentina and Africa, including the oversight of a 2,000-metre shaft project delivered on time and on budget.

Antony Rowe - Independent Director

Antony Rowe is a mining-finance executive experienced in private credit, project finance, corporate lending and law. He previously helped build Resource Capital Funds' mining debt and credit strategy and executed mining investments at Investec Bank across Europe, the Americas and Africa. He currently serves as a Managing Director of Arrowpoint Mining Capital and Senior Adviser to Canmore Capital.

Note: CEO Kimberly Ann also forms part of Lahontan Gold’s board of directors.