Lahontan Gold Corp. announced that it is planning a 3,000 metre drill program at its Santa Fe Mine project in the Walker Lane of mining friendly Nevada. The program will consist of approximately 15 reverse-circulation drill holes in the Slab-Calvada and Santa Fe pit areas.

Following last year's very successful drill campaign totaling 3,700 metres of reverse-circulation drilling, the Company reviewed all drill data and determined that there were multiple clear targets to potentially expand mineral resources prior to completing the recently announced Preliminary Economic Assessment ("PEA") for the project. This year's drilling will be integrated with the 2023 drill data and the combined near 7,000 metres of new drilling will be used to update the project's Mineral Resource Estimate ("MRE") that forms the basis of the PEA. As illustrated in the cross section below, the drill holes will target areas were previously defined Mineral Resources extend below the conceptual pit shells used to constrain the MRE.

The drilling also allows the Company to fine-tune its geologic, structural, and metallurgical domain models in anticipation of the PEA. Section through proposed drill holes at the Calvada East target. Proposed drill holes are shown in black, previous drill holes with gold grade are also illustrated.

Note that the conceptual pit (shown in red) which strains the project's MRE does not capture the deeper resource blocks. Successful drilling will extend mineralization deeper, and potentially, the conceptual pit shell as well.