Lahontan Gold Corp. (TSX.V: LG) (OTCQB: LGCXF) announced that it is accelerating the expiry of outstanding warrants originally issued on September 1, 2023. The decision follows the company meeting a required trading price threshold over 20 consecutive trading days ending April 27, 2026. The new accelerated expiry date is set for May 18, 2026, at 5:00 p.m. Toronto time. After this deadline, any unexercised warrants will expire, and holders must submit exercise documentation and payment prior to the cutoff.
This move is significant for investors as it creates a defined timeline for warrant holders to act. The acceleration clause is a standard provision in warrant agreements that allows the issuer to shorten the expiry period if the stock trades above a certain price for a specified period. By meeting that threshold, Lahontan Gold has triggered the acceleration, potentially leading to additional capital from warrant exercises. The company plans to use the proceeds to advance its Santa Fe Mine project towards production.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company with four top-tier gold and silver properties in the Walker Lane of Nevada. Its flagship asset is the 26.4 km2 Santa Fe Mine project, which had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines using heap-leach processing. The Santa Fe Mine boasts a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), both pit constrained. Au Eq is inclusive of recovery, as detailed in the Santa Fe Project Technical Report.
The company intends 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 this announcement and the company's technical 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. Mr. Lindholm confirmed that the grade and ounces reported are consistent with the Technical Report.
For more information about Lahontan Gold Corp., visit their website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/KjK3I. The latest news and updates relating to LGCXF can be found in the company's newsroom at http://ibn.fm/LGCXF.
