Lahontan Gold's Santa Fe Mine Project Advances to Full Environmental Assessment Under NEPA

The Federal Bureau of Land Management has declared Lahontan Gold Corp.'s Exploration Plan of Operations complete, enabling the Santa Fe Mine Project in Nevada to move forward into comprehensive environmental assessment under the National Environmental Protection Act (NEPA). This determination confirms the completion of all necessary baseline biological, cultural, and historical studies, which will also support future mine planning efforts. The exploration plan encompasses 12 square kilometers with over 700 drill sites, positioning the company for extensive mineral exploration activities.

Lahontan Gold anticipates completing the NEPA process and obtaining final approval of the exploration plan by the fourth quarter of 2025. This timeline would facilitate a robust drilling campaign scheduled for 2026, advancing the project toward potential production. The Santa Fe Mine Project, Lahontan's flagship property spanning 26.4 square kilometers, has a significant historical production record of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing methods.

The project contains substantial mineral resources, with a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 gold equivalent ounces and an Inferred Mineral Resource of 411,000 gold equivalent ounces, all pit constrained. These resources are detailed in the Preliminary Economic Assessment available at https://ibn.fm/CR2Bb. The technical content of the project has been reviewed and approved by Michael Lindholm, CPG, an Independent Consulting Geologist who serves as a Qualified Person as defined in National Instrument 43-101.

This advancement in the environmental assessment process represents a critical regulatory milestone for the mining industry, particularly in Nevada's Walker Lane region known for its mining-friendly policies. The progression through NEPA demonstrates the company's commitment to environmental stewardship while pursuing mineral development. For investors and industry observers, this development signals potential future production capabilities and underscores the importance of thorough environmental review processes in modern mining operations.

The company's plans for 2025 include continuing to advance the Santa Fe Mine project toward production, updating the Santa Fe Preliminary Economic Assessment, and conducting drill tests at its satellite West Santa Fe project. These activities align with the broader industry trend of revitalizing historical mining districts with modern exploration techniques and environmental standards. The successful completion of the NEPA process could serve as a model for other mining projects navigating complex regulatory environments while maintaining focus on sustainable resource development.