Lahontan Gold Corp. has announced the appointment of Antony Rowe and Miranda Werstiuk as independent directors to the company's board of directors. In conjunction with these appointments, Josh Serfass and Max Pluss have stepped down from the board. This leadership update occurs as the company advances its business strategy and progresses the Santa Fe Mine project toward gold and silver production. Management noted that the refreshed board brings experience in mine development and mining finance to help guide Lahontan through its transition from mine developer to mine builder.
The Santa Fe Mine project, Lahontan's flagship property, is a 26.4 km2 site in Nevada that had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The project currently has 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 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 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 more information about the company's technical reports and mineral resources, investors can refer to the Preliminary Economic Assessment, NI 43-101 Technical Report for the Santa Fe Project, which is available on the company's website and SEDAR+. The full press release detailing these board changes and project updates can be viewed at https://ibn.fm/1QEig.
This board restructuring represents a strategic move for Lahontan Gold as it positions itself for the next phase of development. The addition of directors with specific expertise in mine development and mining finance suggests the company is preparing for the capital-intensive transition from exploration and resource definition to actual mine construction and production. For investors in the mining sector, such board-level changes often signal a company's maturation and readiness to execute on its development plans.
The Santa Fe Mine project's substantial mineral resources, combined with its history of past production, provides a foundation for future development. The company's focus on updating its Preliminary Economic Assessment in 2025 indicates ongoing work to refine the economic viability of the project. These developments in board composition and project advancement could have implications for Lahontan's ability to secure financing, attract strategic partners, and ultimately bring the Santa Fe Mine into production, potentially contributing to gold and silver supply from a mining-friendly jurisdiction in Nevada.
