FAQ: Lahontan Gold Corp.'s Santa Fe Mine Exploration Plan Enters NEPA Review

What is the main announcement from Lahontan Gold Corp.?

Lahontan Gold Corp. announced that its Exploration Plan of Operations for the Santa Fe Mine Project has entered the National Environmental Policy Act (NEPA) review process by the U.S. Bureau of Land Management. The company also signed a Contributed Funds Agreement to fund additional BLM personnel, potentially expediting the review.

Why is the NEPA review process significant for the Santa Fe Mine Project?

The NEPA review is a critical regulatory step that allows the company to proceed with its planned exploration activities. A draft Environmental Assessment is already completed, which is expected to help the process move quickly, supporting staged drilling to expand gold and silver resources and future mining potential.

How does Lahontan Gold plan to expedite the NEPA review?

Lahontan Gold signed a Contributed Funds Agreement to provide funding for additional U.S. Bureau of Land Management personnel, which could help speed up the review process. The company also noted that a draft Environmental Assessment is already completed, which should facilitate a quicker review.

What are the exploration plans for the Santa Fe Mine Project?

The Exploration Plan of Operations supports staged drilling of more than 700 holes at the Santa Fe Mine Project. This drilling aims to enhance opportunities to expand gold and silver resources and future mining potential at the property.

Where is the Santa Fe Mine Project located?

The Santa Fe Mine Project is located in the Walker Lane of mining-friendly Nevada. Lahontan Gold holds this flagship property through its US subsidiaries, along with three other gold and silver exploration properties in the same region.

What is the resource estimate for the Santa Fe Mine Project?

The Santa Fe Mine has a Canadian NI 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 project had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995.

What are Lahontan Gold’s plans for 2025 regarding the Santa Fe Project?

For 2025, Lahontan Gold 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. These activities aim to further develop the mineral resources and economic potential of the property.

Who is the Qualified Person responsible for technical content review?

The technical content 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 in the press release match those in the Technical Report.

Where can investors find more information about Lahontan Gold Corp.?

Investors can visit the company’s website at www.lahontangoldcorp.com for more information. The latest news and updates relating to LGCXF are also available in the company’s newsroom at http://ibn.fm/LGCXF.

What is the significance of the Santa Fe Mine’s historical production?

The Santa Fe Mine had significant 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. This historical production demonstrates the property’s proven mineral endowment and provides a foundation for future resource expansion and development.