Lahontan Gold Corp (TSXV: LG) (OTCQB: LGCXF) (the 'Company' or 'Lahontan') is pleased to announce that it has signed a binding term sheet (the 'Term Sheet') with a wholly-owned subsidiary of Emergent Metals Corp (collectively 'Emergent') to acquire the advanced West Santa Fe gold-silver exploration project ('West Santa Fe'; also known as Mindora), located only 15 km West of Lahontan's Flagship asset, the Santa Fe Mine, in Nevada's prolific Walker Lane.

West Santa Fe hosts an oxidized gold-silver mineralized system in a geologic setting nearly identical to Santa Fe. Previous exploration drilling at West Santa Fe totals over 13,000 metres in 171 drill holes; only five holes are deeper than 165 metres. Modeling of drill hole data by Lahontan geologists outlines a shallow gold and silver system with a sufficient volume to host 0.5 to 1.0M ounces of oxidized gold and silver mineralization in an open-pit mining configuration[1].

The Term Sheet requires Lahontan to make payments totalling US$1.8M over a seven-year period to Emergent, back-end loaded (please see details of the Term Sheet below) to exercise an option to acquire a 100% interest in the 11.8 square kilometre property. The option payments (excepting the $10,000 signing payment) can be made in a combination of cash and shares at Lahontan's discretion. In addition, the Company will commit to exploration expenditures totalling US$1.4M over the same seven-year period, these expenditures that should be sufficient to define an initial mineral resource estimate for West Santa Fe. The initial option payments and work commitments can be easily accommodated by Lahontan's current cash position and budget.

Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: 'The acquisition of West Santa Fe will be a significant milestone for Lahontan: A 'bolt-on' asset which is accretive to the Santa Fe Mine that has the potential to add significant oxide gold and silver resource ounces for the Company. Back-end loaded, the Term Sheet allows Lahontan to conduct a definitive exploration program on the property with low monetary commitment by Lahontan, yet provides exposure to considerable resource upside. Combined with the continued organic growth of gold and silver resources at the Santa Fe Mine through drilling, West Santa Fe can help Lahontan accelerate the value-creation process for its shareholders by controlling multiple Top-Shelf precious metal exploration and mine development projects in a Tier One mining jurisdiction.'

Geology and Mineral Potential of West Santa Fe

Gold and silver mineralization at West Santa Fe occurs as a sediment-hosted epithermal Au-Ag system hosted by Triassic age carbonate and volcanic rocks, a setting very similar to the Santa Fe Mine. Shallow gold and silver mineralization are localized to East-Northeast trending faults and offset by Northwest striking faults, a classic Walker Lane setting. In addition to over 13,000 metres of drilling, previous exploration activity at West Santa Fe includes: Geophysical studies including IP and aerial magnetic surveys, geochemical surveys including over 1,250 soil samples, and detailed geologic mapping.

The exploration target at West Santa Fe is conceptual in nature and is based on the size of the known mineralized zones, and gold and silver grades from historical drilling.

Modeling of the historical drill hole data by Lahontan geologists defines a continuous zone of gold and silver mineralization which extends from the surface down-rake to the East-Northeast. Utilizing a 0.31 g/t gold mineralized shell defined by historical drill hole data, outlines a large continuously mineralized area at West Santa Fe that has the potential to host a significant gold and silver resource1. Additional exploration drilling will be needed to define mineral resources and to validate the historical drill hole data base.

About Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km2 Santa Fe Mine, had past production of 345,000 ounces of gold and 711,000 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing (Nevada Bureau of Mines and Geology, 1995). The Santa Fe Mine has an Indicated Mineral Resource of 1,112,000 oz Au Eq(grading 1.14 g/t Au Eq) and an Inferred Mineral Resource of 544,000 oz Au Eq (grading 1.00 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report).

Contact:

Tel: 1-530-414-4400

Email: Kimberly.ann@lahontangoldcorp.com

Except for statements of historical fact, this news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com

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