FAQ: Lahontan Gold Corp.'s Santa Fe Mine Restart and Strategic Development

What is Lahontan Gold Corp.’s competitive advantage with the Santa Fe Mine?

Lahontan controls an asset with demonstrated production capabilities rather than theoretical potential, as the Santa Fe Mine successfully produced 359,202 ounces of gold and 702,067 ounces of silver between 1988-1995 using low-cost open-pit mining and heap leach processing.

Why did the Santa Fe Mine originally close in 1995?

The mine closed purely due to economics when gold prices dropped to $340 per ounce, making operations uneconomical at that time, though substantial mineralization was left in the ground.

When does Lahontan Gold expect to break ground on restarting the Santa Fe Mine?

The company plans to break ground in early 2027, if not sooner, as they are currently deep in the permitting process which began about two and a half years ago.

What are the current mineral resources at 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 (grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (grading 0.76 g/t Au Eq), all pit constrained.

Where is the Santa Fe Mine located?

The Santa Fe Mine is located in the Walker Lane of mining-friendly Nevada, USA, and covers 26.4 km².

What processing method was used historically and is planned for the restart?

The mine previously used heap leach processing, which is the lowest-cost production method available for oxide gold deposits, and this method is expected to be used again in the restart.

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

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.

Who is the CEO of Lahontan Gold Corp. and what is their perspective on the project timeline?

Kimberly Ann is the CEO, and she stated that they started the permitting process about two and a half years ago because permitting takes a long time, but they are now deep in the process and fast-tracking toward production.

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

Investors can visit the company’s website at https://lahontangoldcorp.com/ or access the latest news and updates at http://ibn.fm/LGCXF in the company’s newsroom.

What technical documentation is available for the Santa Fe Project?

The ‘Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project’ is available on the company’s website and SEDAR+, with an effective date of December 10, 2024, and report date of January 24, 2025.