Lahontan Announces CFO Transition on Anticipation of Santa Fe Mine Development

TORONTO, Sept. 10, 2026 (GLOBE NEWSWIRE) -- Lahontan Gold Corp. (TSXV:LG, OTCQB:LGCXF, FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that it has hired Mr. Billy Choi as its new Chief Financial Officer (“CFO”). It is expected that Billy will assume full CFO responsibilities in October 2026 following a transition period. The Company would like to thank its current CFO, Mr. John McNeice, for his years of service to Lahontan and wish him all the best in his future endeavors.

Billy Choi, Chief Financial Officer

Billy brings extensive public-company finance, capital markets, and transaction experience to the Company. Most recently, he served as Vice President of Finance at Lithium Royalty Corp. (LRC), where he played an integral role in the company’s successful IPO and transition to becoming a publicly traded company. His responsibilities included leading key aspects of financial reporting and prospectus readiness, strengthening internal controls and financial processes, and helping build the finance infrastructure required to support a growing public company.

During his tenure at LRC, Billy worked closely with senior management, auditors, legal counsel, and other external advisors on public-company reporting, regulatory requirements, and corporate transactions. He also contributed to the continued development of LRC’s financial planning, reporting systems, governance processes, and internal controls as the company expanded its portfolio and operations.

Following LRC’s acquisition by Altius Minerals, Billy was actively involved in the post-closing transition and integration process, providing him with valuable experience across the full corporate lifecycle—from IPO preparation and public-company operations through to a strategic acquisition and subsequent integration.

His combination of hands-on financial leadership, public-market experience, transaction execution, and experience building scalable finance functions will be particularly valuable as the Company continues to grow and advance its corporate and development objectives. Billy holds a Bachelor of Business Administration degree from the University of Toronto and the CPA, CA designation.

Kimberly Ann, Founder, Executive Chair, CEO and President of Lahontan Gold Corp. commented: "We are delighted to welcome Billy Choi as our new, full-time, CFO. As we advance permitting for the Santa Fe Mine and target a restart of production in 2027, we are building a financial management team with the operations experience required to take the Company into its next phase of growth. Billy has already begun working for the Company, initiating the transfer of CFO responsibilities and reporting protocols to his management. We of course extend our thanks to John McNeice for his service to the Company since its inception and for assisting through the transition period. We wish all the best going forward.”

About Lahontan Gold Corp.

Lahontan Gold Corp. is a Nevada-focused mine development company advancing a portfolio of four gold and silver projects in mining-friendly Nevada’s prolific Walker Lane. The Company’s primary focus is the restart of its flagship, the 28.3 km² Santa Fe Mine project, with a targeted return to production in 2027.

• Santa Fe Mine historic production: 359,202 ounces of gold and 702,067 ounces of silver, open pit mining with heap-leach processing (1988-1995; Nevada Bureau of Mines).
• Current Resources: The Santa Fe Mine has a NI 43-101 compliant Indicated Mineral Resource of 1,195,000 oz Au Eq (47,532,000 tonnes grading 0.72 g/t Au and 5.55 g/t Ag, together grading 0.78 g/t Au Eq) and an Inferred Mineral Resource of 1,190,000 oz Au Eq (60,605,000 tonnes grading 0.59 g/t Au and 2.40 g/t Ag, together grading 0.61 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*).
• Objectives 2026:
  • Complete an updated Preliminary Economic Assessment (“PEA”) for the Santa Fe Mine, including the first analysis of mining and processing sulfide resources,
  • Advancing mine permitting activities with the objective of commencing construction in 2027,
  • Continue drill testing the satellite West Santa Fe project, with a maiden resource estimate targeted by year-end,
  • Conduct exploration drilling at Santa Fe focused on expanding known gold and silver mineralization,
  • Drill test historic heap-leach pads to evaluate residual gold and silver mineralization for potential future reprocessing opportunities.

For more information, please visit our website: www.lahontangoldcorp.com

* Please see the “Updated Mineral Resource Estimate, NI 43-101 Technical Report, Santa Fe Project”, Authors: Michael S. Lindholm, C.P.G., and Thomas Dyer, PE; Effective Date: August 13, 2026, Report Date: Maximum 45 days from August 17, 2026. The Technical Report will be available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.10 g/t AuEq for oxide and transition resources and 0.30 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$3,250/oz gold, silver price of US$40.00/oz silver, and oxide gold recoveries ranging from 60% to 79%, oxide silver recoveries ranging from 0% to 30%, transitional gold recoveries ranging from 28% to 45%, transitional silver recoveries ranging from 0 to 13%, and non-oxide gold and silver recoveries of 68% except for the York deposit where non-oxide recoveries are estimated to be 0%.

Qualified Person

Brian J. Maher, M.Sc., CPG-12342, is a “Qualified Person” as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Senior Vice President, Mine Development & Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.

On behalf of the Board of Directors

Kimberly Ann

Founder, CEO, President, Executive Chair

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.

Kimberly Ann

Founder, CEO, President, Executive Chair

Phone: 1-530-414-4400

Email: Kimberly.ann@lahontangoldcorp.com

Website: www.lahontangoldcorp.com

Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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