TORONTO, June 09, 2026 (GLOBE NEWSWIRE) – Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) is pleased to announce the first drill results from its 2026 drilling program at the Santa Fe Mine Project. The drill results reported herein cover four diamond core drill holes totalling 953 metres that were designed to acquire geotechnical data related to mine permitting but nonetheless intercepted significant gold mineralization. Five additional reverse-circulation (RC) drill holes, totalling 1,530 metres, have discovered a previously unrecognized zone of gold mineralization located west of the Slab open pit (Slab West) that remains open in all directions.
Significant Drill Results
Calvada
Drill hole CAL26-02C, originally designed to gather geotechnical data for mine permitting, cut 90.8 metres (194.2 – 285.0 m) grading 0.44 g/t Au Eq oxide near the bottom and below the current resource pit shell. This includes a 12.3 metre interval (212.4 – 223.7 m) of high-grade material: 1.22 g/t Au Eq.
Slab West
Multiple drill holes have discovered a new, previously unrecognized zone of gold mineralization west of the Slab resource and open pit. Gold mineralization was intercepted in four out of five drill holes including 35.0 metres grading 0.34 g/t Au Eq (CAL26-03R; 164.6 – 199.6 m) and 61.0 metres grading 0.26 g/t Au Eq (CAL26-01R; 184.4 – 245.4 m). The Slab West discovery is unconstrained up and down dip plus along strike and has the potential to host significant new gold resources at the Santa Fe Mine Project.
Technical Notes
Au Eq equals Au (g/t) + ((Ag g/t/60)*0.70). Silver grade for calculating Au Eq is adjusted to consider historic metallurgical recovery as described in the Santa Fe Project Technical Report. True thickness of the intercepts is estimated to be 80-100% of the drilled interval. Numbers may not total precisely due to rounding.
Management Commentary
Kimberly Ann, Founder, Chair, CEO, and President of Lahontan Gold Corp commented: “The discovery of the gold zone at Slab West is an exciting development for the Santa Fe Mine Project. Since Lahontan acquired Santa Fe, all our drilling was focused on resource expansion and definition in order to demonstrate sufficient gold and silver resources to justify a production decision. The current RC drilling program is the first true exploration drilling we have done at Santa Fe and the results are already significant. The Slab West area has a large footprint, good grade, and continuity. Drilling crews are already following up on these early results.”
Kimberly Ann continued: “The Geotechnical drilling program is a crucial part of the mine permitting process: Collecting samples of wall or waste rock for geochemical characterization and searching for evidence of ground water around and below the proposed open pits. The program has been successful from a technical standpoint, no significant ground water was encountered, however, by carefully selecting the orientation of the drill holes, we can cut across known zones of gold mineralization and further validate the gold and silver resource at Santa Fe. The intercept at Calvada was particularly important as it confirmed thick oxide gold mineralization below the deepest part of the Calvada open pit and gives us further confidence as we head towards mine construction in 2027.”
