202636 releases
Lahontan Gold Provides Corporate Update on Santa Fe and West Santa Fe Drill Programs
Lahontan Gold provides a corporate update on drilling at its Santa Fe Mine Project and nearby West Santa Fe Project in Nevada's Walker Lane, with 13,334 metres of drilling completed year to date. The update reports 2,092 metres of diamond core drilling, 1,976 metres of sonic core drilling and 31 RC holes totaling 7,497 metres at Santa Fe, and nine West Santa Fe RC holes totaling 1,769 metres, with results pending for the remaining holes.
Drill resultsLahontan Gold Announces Updated Santa Fe Preliminary Economic Assessment Featuring an Eleven-Year Mine Life and Post-Tax NPV5 of US$820 Million
An updated PEA on the Santa Fe gold-silver project in Nevada's Walker Lane shows a post-tax NPV5 of US$820.0 million and 40.1% IRR at US$3,600/oz gold and US$49/oz silver, with an 11-year mine life plus one year of residual leaching. Pre-production capital is estimated at US$172.0 million with a 3.7-year payback, average annual production of about 91,900 gold-equivalent ounces, cash costs of US$1,909/oz and AISC of US$2,250/oz. A technical report will be published within 45 days.
Study resultsLahontan Mobilizes Drill Rig to West Santa Fe, Grants Stock Options
A track-mounted Foremost MPD-1500 reverse-circulation rig and crew have been mobilized to the West Santa Fe Project in Nevada's Walker Lane for approximately 3,500 metres of drilling in 20 holes targeting gold and silver resource definition and step-outs, with results expected later in 2026. The December 2025 maiden campaign returned 36.6 metres grading 3.11 g/t AuEq (1.47 g/t Au, 140.1 g/t Ag) from surface in WSF25-04R. Lahontan also granted 3,000,000 options at Cdn$0.40 for five years.
Drill resultsLahontan Consolidates Ownership of West Santa Fe, Eliminates Royalties, and Adds Strategic New York Canyon Project Through Acquisition of Emergent Metals
A definitive arrangement agreement dated September 15, 2026 will see Lahontan Gold acquire all outstanding shares of Emergent Metals via a court-approved plan of arrangement, with Emergent shareholders receiving one Lahontan share per 3.21 Emergent shares, implying $0.115 per Emergent share, a 47.8% premium to Emergent's 30-day VWAP. Lahontan and Emergent shareholders would hold roughly 95.3% and 4.7% of the combined company. The deal gives Lahontan 100% of West Santa Fe, removes 1% NSR royalties on West Santa Fe and 27 York claims, eliminates about $2.39M (US$1.73M) in future payments, and adds the New York Canyon project adjoining the Santa Fe Mine in Nevada's Walker Lane.
AcquisitionLahontan Drills 16.5m Grading 2.72 g/t Au and 2.8 g/t Ag at Santa Fe Heap Leach Pad Two
Ten Sonic core holes totalling 168.9 metres on Heap Leach Pad Two at the Santa Fe Mine Project in Mineral County, Nevada returned an intercept of 16.5m grading 2.72 g/t Au and 2.8 g/t Ag. The weighted average grade of all samples to date is 0.50 g/t Au and 3.3 g/t Ag (0.54 g/t Au Eq), with CN gold analyses averaging 40% of fire assay values. The holes are 10 of 26 completed, with 86 additional holes planned across four historic heap leach pads.
Drill resultsLahontan Announces CFO Transition on Anticipation of Santa Fe Mine Development
Billy Choi has been hired as Chief Financial Officer of Lahontan Gold Corp., assuming full CFO responsibilities in October 2026 following a transition period and replacing John McNeice. Choi was previously Vice President of Finance at Lithium Royalty Corp. and holds a Bachelor of Business Administration from the University of Toronto and the CPA, CA designation. The Company is advancing permitting at the Santa Fe Mine in Nevada, targeting a production restart in 2027.
ManagementLahontan Strengthens Technical, Engineering, and Business Development Team
Three mining professionals have joined Lahontan Gold Corp.: Tony Gesualdo as Vice President – Exploration, Michael Kubel as Senior Mine Engineer, and Jen Earle in Investor Relations & Business Development. Gesualdo, a Certified Professional Geologist, previously served as Lahontan's Exploration Manager from 2020 to 2023 and most recently worked at McEwen Inc. The hires come as the Company advances permitting for its Santa Fe Mine project in Nevada, targeting a return to production in 2027.
ManagementLahontan Drills 10.7m Grading 1.81 g/t Au and 64.8 g/t Ag, Completes Santa Fe Mine Stockpile Drill Program
Sonic core drilling of a historic low-grade stockpile adjacent to Heap Leach Pad Two at the Santa Fe Mine project in Nevada returned 10.7m grading 1.81 g/t Au and 64.8 g/t Ag, with nine drill holes averaging 1.96 g/t Au Eq (1.64 g/t Au, 36.2 g/t Ag). CN-extractable gold assays ranged from 5% to 93% of fire assay values, averaging 43%. The balance of the 2026 program covers 96 holes across four historic heap leach pads, with initial Pad Two results expected shortly.
Drill resultsLahontan Announces 22% Increase in Mineral Resources at Santa Fe: 1,195,000 Au Eq oz Indicated, and 1,190,000 Au Eq oz Inferred
An updated mineral resource estimate for the Santa Fe Mine in Nevada's Walker Lane reports Indicated Mineral Resources of 1,195,000 contained gold equivalent ounces at 0.78 g/t Au Eq and Inferred Mineral Resources of 1,190,000 Au Eq ounces at 0.61 g/t Au Eq, a combined increase of 435,000 ounces or 22% over the 2024 MRE. The estimate, effective August 13, 2026, uses $3,200/oz gold and $40.00/oz silver and is based on 1,275 drill holes totaling 136,515 metres. The company also granted 1,466,000 deferred share units to officers and directors on August 10, 2026.
Resource updateLahontan Drills 12.2m Grading 1.25 g/t Au Oxide at Calvada East
Drilling at the Santa Fe Mine Project in Nevada returned 12.2 metres (166.1–178.3m) grading 1.26 g/t Au Eq oxide (1.25 g/t Au, 0.8 g/t Ag) in hole CAL26-12R at Calvada East, with individual 1.5 metre samples up to 3.29 g/t Au. Hole CAL26-11R cut 13.7 metres grading 1.10 g/t Au Eq in Tertiary volcanic rocks along the Summit Fault, the first such intercept at the project. At Slab West, CAL26-13R returned 35.1m at 0.21 g/t Au Eq and CAL26-15R 18.3m at 0.22 g/t Au Eq. Results cover seven RC holes totalling 1,990 metres.
Drill resultsLahontan Drills 9.9m Grading 2.40 g/t Au and 50.7 g/t Ag in Santa Fe Mine Stockpile
First results from the 2026 Sonic core drilling program at the Santa Fe Mine Project in Nevada returned 9.9m grading 2.40 g/t Au and 50.7 g/t Ag from a historic low-grade stockpile adjacent to Heap Leach Pad two, with three Sonic core holes averaging 2.3 g/t Au Eq. CN-extractable gold assays ranged from 5% to 87% of corresponding fire assay values, averaging more than 30%. The Sonic program has concluded with nearly 100 holes across four historic heap leach pads; results from six additional stockpile holes are expected shortly.
Drill resultsLahontan Drills 9.9m 2.40 g/t Au and 50.7 g/t Ag in Santa Fe Stockpile
Sonic core drilling of a historic low-grade stockpile adjacent to Heap Leach Pad two at the Santa Fe Mine project in Nevada returned 9.9m grading 2.40 g/t Au and 50.7 g/t Ag, with three Sonic holes averaging 2.3 g/t Au Eq. CN-extractable gold assays ranged from 5% to 87% of fire assay values, averaging more than 30%. The Sonic program has concluded with nearly 100 holes across four historic heap leach pads; results from six additional stockpile holes are expected shortly.
Drill resultsLahontan Provides Corporate Update
Wholly owned subsidiaries Gateway Gold Corp. and Gateway Gold (USA) Corp. have been served with a Statement of Claim filed in the Ontario Superior Court of Justice by Vox Royalty Cayman SEZC, alleging breach of an offtake agreement dated April 13, 2018 and seeking monetary damages and other relief. Lahontan believes the claim is without merit, intends to defend the action, and does not expect a material impact on day-to-day operations or its business strategy.
CorporateLahontan Drills 31m Grading 0.90 g/t Au Oxide at Calvada Central
Drilling at the Santa Fe Mine project in Nevada returned 30.8 metres grading 0.93 g/t Au Eq oxide (94.8–125.6m) in diamond hole CAL26-03C at Calvada Central, including 10.7 metres at 2.18 g/t Au Eq (114.0–124.7m); the 188-metre hole was originally designed to collect geotechnical data for mine permitting. Two RC holes totalling 636 metres at the south end of the Slab pit cut 15.2 metres at 0.40 g/t Au Eq and 9.1 metres at 0.22 g/t Au Eq, both from surface.
Drill resultsLahontan Provides Santa Fe Mine Development and Exploration Update
An updated Mineral Resource Estimate for the Santa Fe Mine Project in Nevada's Walker Lane is expected within weeks, with a revised Preliminary Economic Assessment targeted by the end of August 2026 and groundbreaking still planned for 2027. Lahontan has completed 87 drill holes totalling 7,751 metres year-to-date, including 54 Sonic holes on historic heap leach pads and the new Slab West discovery. Shareholders approved an RSU/DSU Plan on June 26, 2026 covering up to 42,765,283 shares.
CorporateLahontan Drills 91m Grading 0.43g/t Au Oxide at Calvada, Discovers New Gold Zone at Slab West
First results from the 2026 drilling program at the Santa Fe Mine Project in Nevada included hole CAL26-02C at Calvada, a geotechnical hole that cut 90.8 metres (194.2–285.0 m) grading 0.44 g/t Au Eq oxide below the current resource pit shell, including 12.3 metres at 1.22 g/t Au Eq. Five RC holes totalling 1,530 metres identified a new gold zone west of the Slab pit, with 35.0 metres at 0.34 g/t Au Eq and 61.0 metres at 0.26 g/t Au Eq; the zone remains open in all directions.
Drill resultsLahontan Provides Santa Fe Mine Development and Permitting Update, Grants Stock Options
A geotechnical drill campaign of 2,569 metres in 11 diamond core and RC holes has been completed at the Santa Fe Mine project in Nevada's Walker Lane, targeting groundwater definition and waste rock characterization; only minor groundwater flow was encountered in one hole. An updated mineral resource estimate is expected in the weeks ahead, with an updated PEA due in September, alongside plans for up to 7,000 metres of exploration drilling and 1,700 metres in 96 holes across four historic heap leach pads. Following the April 8, 2026 private placement for gross proceeds of Cdn$13.6m, the Company is funded into 2027, and has granted 4,900,000 options at Cdn$0.37 for five years.
CorporateLahontan Announces Warrant Acceleration
The expiry of common share purchase warrants issued September 1, 2023 under a non-brokered private placement has been accelerated to 5:00 p.m. (Toronto time) on May 18, 2026, with unexercised warrants expiring thereafter. The acceleration right was triggered by the shares trading at a volume weighted average price of at least $0.24 for 20 consecutive trading days ended April 27, 2026. Holders must surrender certificates and payment to TSX Trust Company in Toronto.
NewsLahontan Announces Warrant Acceleration
The expiry of common share purchase warrants issued November 25, 2025 under a non-brokered private placement has been accelerated to 5:00 p.m. (Toronto time) on June 3, 2026, after the shares closed at or above CDN$0.35 for the ten consecutive trading days ended April 21, 2026. Warrants left unexercised after that date will expire. Holders must submit certificates and payment through TSX Trust Company in Toronto.
NewsLahontan to Drill Historic Santa Fe Heap Leach Pads for Residual Gold & Silver
A drill program testing the historic heap leach pads at the Santa Fe Gold Mine Project in Nevada's Walker Lane will begin once full permits are received, using a Boart Longyear LS 450 sonic core drill rig. The plan calls for 95 sonic core holes totalling 1,740 metres across four historic pads at roughly 30-metre spacing, which Lahontan says would be sufficient to generate an Inferred mineral resource if historic production data is confirmed. Santa Fe produced about 359,000 oz gold and 700,000 oz silver from 16.0 million tonnes between 1988 and 1994.
Drill resultsLahontan Reports Cyanide Recoveries of 81% For Gold and 60% For Silver at West Santa Fe
Cyanide-extraction analyses on 158 pulp samples from the 2025 reverse-circulation drilling at the West Santa Fe project in Nevada returned average CN-extractable gold of 81% versus original fire assay values and average CN-extractable silver of 60%. Gold results ranged from 41% to over 100% and silver from 19% to 91%. Lahontan Gold Corp. said exploration will continue at West Santa Fe ahead of a Mineral Resource Estimate planned later this year.
Study resultsLahontan Closes Final Tranche of Private Placement For an Aggregate of $13.6M
The final tranche of a non-brokered private placement closed with 1,079,000 units issued at CAD$0.41 per unit for gross proceeds of CAD$442,390, bringing the total to 33,269,244 units for aggregate gross proceeds of CAD$13,640,390. Each unit includes one common share and half a warrant exercisable at CAD$0.60 for two years, subject to acceleration. Finders received $804,401 in cash commissions and 1,961,954 broker warrants. Proceeds will fund exploration at the Santa Fe Mine and West Santa Fe projects in Nevada and working capital.
FinancingLahontan Closes Third Tranche of Private Placement For an Aggregate of $13.2M
The third tranche of a non-brokered private placement closed with 3,710,000 units at CAD$0.41 per unit for gross proceeds of CAD$1,521,100, bringing total issuance across three tranches to 32,190,244 units for aggregate gross proceeds of CAD$13,198,000. Each unit includes one common share and half a warrant exercisable at CAD$0.60 for two years, subject to acceleration. Proceeds will fund exploration at the Santa Fe Mine and West Santa Fe projects in Nevada and general working capital. Finders received $778,858 cash and 1,897,214 broker warrants.
FinancingLahontan Closes Second Tranche of Private Placemetn For an Aggregate of $11.7M
The second tranche of a non-brokered private placement closed with 3,170,000 units at CAD$0.41 per unit for gross proceeds of CAD$1,299,700, bringing the total across both tranches to 28,480,244 units for $11,676,900.04. Each unit includes one common share and half a warrant exercisable at CAD$0.60 for two years, subject to acceleration if shares close at or above CAD$1.00 for ten consecutive trading days. Proceeds are for exploration at the Santa Fe Mine and West Santa Fe projects in Nevada and working capital; finders received $86,592 and 211,200 broker warrants.
FinancingLahontan Closes $10.4M First Tranche of Private Placement
The first tranche of a non-brokered private placement closed with the issuance of 25,310,244 units at CAD$0.41 per unit for gross proceeds of CAD$10,377,200. Each unit comprises one common share and one-half warrant exercisable at CAD$0.60 for two years, subject to acceleration if shares close at or above CAD$1.00 for ten consecutive trading days. Proceeds are for exploration at the Santa Fe Mine and West Santa Fe projects in Nevada and general working capital. An insider acquired 60,000 units.
FinancingLahontan Announces Upsize To Private Placement
A previously announced non-brokered private placement has been upsized to up to 33,902,439 units at CAD$0.41 per unit for gross proceeds of up to CAD$13,900,000. Each unit includes one common share and one-half warrant exercisable at CAD$0.60 for two years, subject to acceleration if shares close at or above CAD$1.00 for ten consecutive trading days after four months and one day. Proceeds will fund general working capital and exploration at the Santa Fe Mine and West Santa Fe projects in Nevada.
FinancingLahontan Announces Private Placement
A non-brokered private placement of up to 24,390,244 units at Cdn $0.41 per unit for gross proceeds of up to Cdn $10,000,000 is planned, with each unit comprising one common share and one-half warrant exercisable at Cdn $0.60 for two years, subject to acceleration if shares close at or above Cdn $1.00 for ten consecutive trading days after four months and a day. Proceeds are for general working capital and exploration at the Santa Fe Mine and West Santa Fe projects in Nevada. Closing requires TSX Venture Exchange approval.
FinancingLahontan Gold Appoints Antony Rowe and Miranda Werstiuk to the Board of Directors
Antony Rowe and Miranda Werstiuk have been appointed as independent directors of Lahontan Gold Corp., while Josh Serfass and Max Pluss have stepped down from the Board. Rowe is Managing Director of Arrowpoint Mining Capital and previously worked at Resource Capital Funds and Investec Bank; Werstiuk has over 30 years in resource finance and sits on the board of Guanajuato Silver Company Ltd. The company's flagship asset is the 28.3 km2 Santa Fe Mine project in Nevada.
ManagementLahontan Mobilizes Second Drill Rig to Santa Fe
A track-mounted MPD-1500 reverse-circulation drill rig and crew have been mobilized to the Santa Fe Mine project in Nevada's Walker Lane, joining the diamond drill rig already operating there and focusing on areas of the project with little or no prior exploration drilling. Following approval of its exploration Plan of Operations, the company can drill over 700 new holes at the 28.3 km2 project, and states it is working toward a re-start of mining at Santa Fe in 2027.
Drill resultsLahontan Drills High Grade Oxide Gold From the Surface at West Santa Fe: 37m Grading 3.11 g/t Au Eq Including 11m Grading 5.75 g/t Au Eq
Final drill hole WSF25-04R at the West Santa Fe project in Nevada's Walker Lane returned 36.6 metres (0.0–36.6m) grading 3.11 g/t Au Eq, including 10.7 metres (1.5–12.2m) at 5.75 g/t Au Eq from surface, all oxide, plus 12.2m (22.9–35.1m) grading 3.67 g/t Au Eq, with individual intercepts up to 12.04 g/t Au Eq. Historic and 2025 drilling define a mineralized zone measuring 500 by 350 metres with true thickness of 35 to over 60 metres. A follow-up RC campaign is planned to begin in Spring.
Drill resultsLahontan Drills More Shallow Oxide Gold at West Santa Fe: 49m Grading 0.83 g/t Au Eq Including 11m Grading 1.83 g/t Au Eq
Drilling at the West Santa Fe project, 13 km from the Santa Fe Mine in Nevada's Walker Lane, returned 48.8 metres (13.7–62.5m) grading 0.83 g/t Au Eq, including 10.7 metres (47.2–57.9m) at 1.83 g/t Au Eq, in hole WSF25-02R, with individual intercepts up to 3.21 g/t Au Eq. Hole WSF25-05R cut 45.7 metres from surface grading 0.64 g/t Au Eq, including 9.2m at 1.29 g/t Au Eq. Results from the program's final hole are expected shortly.
Drill resultsLahontan Drills More Shallow Oxide Gold At West Santa Fe: 41m Grading 1.94 G/T Au Eq Including 9.1m Grading 4.14 G/T Au Eq
Drilling at the West Santa Fe satellite project in Nevada's Walker Lane, 13 km from the Santa Fe Mine project, returned 41.2 metres grading 1.94 g/t Au Eq from 15.2m in WSF25-03R, including 9.1 metres at 4.14 g/t Au Eq, with one 1.52m interval at 11.30 g/t Au and 135.0 g/t Ag; WSF25-01R returned 6.1 metres at 1.53 g/t Au Eq. Final five RC holes at the York deposit included YOR25-007R, whose upper 12.2 metres of mine dump material graded 0.27 g/t Au. Further West Santa Fe drilling is planned for this Spring.
Drill resultsLahontan Drills Thick, Shallow Oxide Gold at West Santa Fe: 55m Grading 1.00 g/t Au Eq Including 17m Grading 1.75 g/t Au Eq
Drill hole WSF25-06R at the West Santa Fe project in Nevada's Walker Lane returned 54.9 metres grading 1.00 g/t Au Eq from 24.4 metres, including 16.8 metres at 1.75 g/t Au Eq and 13.7 metres at 1.32 g/t Au Eq, with individual silver assays up to 176 g/t Ag over 1.52 metres. It is the first of six RC holes totalling 593 metres from the 2025 maiden program, with further results expected shortly. West Santa Fe lies 13 km from the Santa Fe Mine project.
Drill resultsLahontan Selects Respec and Kappes Cassiday to Update Santa Fe Mineral Resource Estimate and PEA
Assay results from two reverse-circulation holes totaling 396 metres in the south Slab pit area at the Santa Fe Mine Project in Nevada's Walker Lane returned 68.6 metres grading 0.45 g/t Au Eq from 45.7m in CAL25-011R, including 16.8 metres at 0.81 g/t Au Eq, and 41.2 metres grading 0.32 g/t Au Eq from 32.0m in CAL25-012R. The intercepts lie below and adjacent to the current mineral resource pit shell. Lahontan plans an updated resource estimate in the coming months, followed by an updated PEA.
Resource updateLahontan Mobilizes Core Rig to Santa Fe
A Super 90 track-mounted core drill rig has been mobilized to the Santa Fe Mine Project in Nevada's Walker Lane as part of the ongoing mine development program. The core drilling will collect samples for waste rock geochemical characterization for State-level mine permitting and further define groundwater distribution in the area of the proposed open pit. The Company expects the hydrologic and geochemical data to keep it on track for breaking ground at Santa Fe in 2027.
Drill resultsLahontan Drills Thick, Shallow Gold: 114m Grading 0.33 g/t Au Eq at York; 23m Grading 0.42 g/t Au Eq at Slab
First results from the 2025 Phase Two drilling at the Santa Fe Mine project in Nevada's Walker Lane returned 114.3 metres grading 0.33 g/t Au Eq from 76.2 metres in YOR25-004R at York, including 18.3 metres at 0.90 g/t Au Eq. At Slab, CAL25-008R cut 22.9 metres grading 0.42 g/t Au Eq from 19.8 metres and CAL25-010R cut 29.0 metres at 0.26 g/t Au Eq from 97.5 metres. Results cover six RC holes totalling 994 metres; an updated MRE is expected later this year, with results pending for seven further holes at Santa Fe and six at West Santa Fe.
Drill results
202528 releases
Lahontan Commences Drilling at West Santa Fe
A maiden reverse-circulation drill program has begun at the West Santa Fe project, 13 km from the Santa Fe Mine project in Nevada's Walker Lane, initially twinning historic holes to validate a database of 171 holes totaling 13,107 metres drilled between 1980 and 1995 for possible use in a future mineral resource estimate. The 2025 Phase Two program at Santa Fe is complete, with twenty reverse-circulation holes in the Slab and York areas, Slab holes up to 194 metres deep. An updated Santa Fe resource estimate is planned for early 2026 and a preliminary economic assessment in H1 2026.
Drill resultsLahontan Receives BLM Approval for West Santa Fe Drill Program, Grants Options
A non-brokered private placement closed with 16,665,868 units issued at $0.15 per unit for gross proceeds of $2,499,880.20, upsized from 13,333,333 units. Each unit included one common share and one-half warrant exercisable at $0.25 for two years, subject to acceleration if shares close at or above CDN$0.35 for ten consecutive trading days. Finders received $28,910.39 in cash commissions and 192,735 broker warrants. Proceeds are for working capital and exploration at the Santa Fe Mine and West Santa Fe projects in Nevada.
CorporateLahontan Receives BLM Approval of Santa Fe Exploration Plan of Operations
The US Bureau of Land Management has published its Decision Record, Finding of No Significant Impact and approval of Lahontan Gold's Exploration Plan of Operations for the Santa Fe Mine project in Nevada's Walker Lane, concluding the NEPA Environmental Assessment process. The EPOO permits exploration drilling across a 12.2 km² area and over 700 drill holes, versus a previous five-acre disturbance limit. Priority targets include the Pinnacles and Guzzler areas, untested zones between known resources, and historical heap leach pads.
CorporateLahontan Mobilizes Drill Rig to the Santa Fe Mine
A track-mounted MPD-1500 reverse-circulation drill rig and crew have been mobilized to the Santa Fe Mine project in Nevada's Walker Lane. The program comprises up to 25 drill holes totalling 4,000 metres of in-fill drilling at the Slab and York areas, targeting shallow oxide gold and silver mineralization, to upgrade resources from Inferred to Indicated and expand overall resources. The Company says the drilling supports a pivot to mine planning and permitting in 2026.
Drill resultsLahontan Announces Investor Relations Agreement
A consulting agreement for investor relations and communication services was entered into on July 16, 2025 with GRA Enterprises LLC DBA National Inflation Association, based in Mooresville, North Carolina, for an initial six-month term at USD$50,000 paid. The term can be extended by three months for an additional USD$30,000, six months for USD$50,000, or one year for USD$100,000. No securities will be issued as compensation; NIA and its affiliates hold 200,000 common shares and are at arm's length.
CorporateLahontan Announces Private Placement of Units
A non-brokered private placement for gross proceeds of up to $2,000,000 through the issuance of up to 13,333,333 units at $0.15 per unit, each unit comprising one common share and one-half warrant exercisable at $0.25 for two years, subject to acceleration if shares close at or above CDN$0.35 for ten consecutive trading days after four months and one day. Proceeds will fund general working capital and exploration at the Santa Fe Mine and West Santa Fe projects in Nevada. Closing is subject to TSX Venture Exchange approval.
FinancingLahontan Receives $4,316,948 From the Exercise of Warrants and Options
Cdn$4,316,948 was received from the exercise of warrants and stock options between July 4 and October 23, 2025. Following those exercises and the share issuance for the purchase of the York unpatented mining claims at the Santa Fe Mine Project, Lahontan Gold had 334,420,221 common shares issued and outstanding. Funds will be used for exploration and mine development at the company's projects in Nevada's Walker Lane gold belt and for general corporate purposes, including planned fall drilling at Santa Fe and West Santa Fe.
FinancingLahontan Closes Strategic York Claims Purchase at Santa Fe
The purchase of 27 unpatented lode mining claims (the York claims) from Emergent Metals Corp, contiguous with the southeast corner of the Santa Fe Mine Project in Nevada's Walker Lane, has closed. Consideration comprises US$10,000 cash, a US$50,000 promissory note bearing 1% monthly interest payable within six months, 2,000,000 Lahontan common shares, and a 1% NSR royalty buyable for US$500,000 before the third anniversary or US$1,000,000 between the third and seventh. Additional York drilling is planned this Fall.
AcquisitionLahontan Submits Notice of Operations to BLM for Drilling at West Santa Fe
A Notice of Operations has been submitted to the US Bureau of Land Management for a proposed exploration drilling program at the West Santa Fe Project, 13 kilometres southwest of Lahontan's Santa Fe Mine Project in Nevada. The Notice seeks permits for multiple drill sites plus access roads and sumps for drilling fluids. Historic drilling of 171 holes totalling approximately 13,000 metres defines shallow oxidized gold and silver mineralization near the historic Mindora underground mine, continuing over 1,000 metres to the east.
CorporateSanta Fe Exploration Plan of Operations Enters NEPA Review
Lahontan Gold's Exploration Plan of Operations for the Santa Fe Mine project in Nevada has entered National Environmental Policy Act review by the Bureau of Land Management, which has up to six months to complete the process. The POO has been posted on the BLM National NEPA Registry and a draft Environmental Assessment has been completed. Lahontan also signed a Contributed Funds Agreement to fund additional BLM personnel for the review. Once approved, the POO would permit staged drilling of over 700 holes.
CorporateLahontan Announces Warrant Acceleration
The expiry of common share purchase warrants issued April 30, 2025 under a non-brokered private placement has been accelerated to 5:00 p.m. Toronto time on October 21, 2025, after the shares traded at a VWAP of CDN$0.12 or above for the ten consecutive trading days ended September 4, 2025. Full exercise would provide Lahontan Gold Corp. with approximately $1,708,228, to be used for working capital. Unexercised warrants will expire.
NewsLahontan Drills Thick, Shallow Gold at York: 90m Grading 0.23 g/t AuPlusa Second High Grade Zone: 18m Grading 0.73 g/t Au, All Oxide
Phase One drilling at the Santa Fe Mine Project in Nevada's Walker Lane returned 89.9 metres grading 0.23 g/t Au from 45.7 metres in hole YOR25-001R at York, and 18.3 metres grading 0.73 g/t Au, including 12.2 metres at 1.00 g/t Au, in YOR25-002R, which ended in mineralization. At Slab, CAL25-004R cut 39.6 metres grading 0.30 g/t Au and 1.2 g/t Ag below the pit. Seven RC holes totalling 1,210 metres were completed, all intercepts oxide; Phase Two drilling is planned for the Fall.
Drill resultsBLM Determines Santa Fe Plan of Operations Complete, Prepares to Enter NEPA
The Bureau of Land Management has determined Lahontan Gold's Exploration Plan of Operations for the Santa Fe Mine project in Nevada to be complete, allowing the project to enter a full environmental assessment under NEPA. The POO would permit exploration across over 12 km² of the project and includes over 700 drill sites, with all environmental baseline studies, covering biological, cultural and historical resources, now finished after more than two years. The company expects final POO approval in Q4 2025, enabling drilling in 2026.
CorporateLahontan Acquires Strategic Claims South of the York Pit, Expanding the Santa Fe Mine Project
A binding term sheet signed August 18, 2025 provides for the acquisition of 27 unpatented lode mineral claims, about 2.1 km², from Emergent Metals Corp., adjoining the Santa Fe Mine Project immediately south and southeast of the York open pit in Mineral County, Nevada. Consideration includes US$10,000 on signing the term sheet, a US$50,000 promissory note at 1% monthly interest, 2,000,000 Lahontan common shares, and a 1% NSR royalty, buyable for US$500,000 before the third anniversary or US$1,000,000 thereafter until the seventh. A definitive agreement is contemplated within 30 days, subject to regulatory approval.
AcquisitionLahontan Begins Metallurgical Test Work at Santa Fe
Metallurgical test work has begun on gold and silver mineralization from the transition metallurgical domain at the Santa Fe deposit in Nevada, aiming to improve CN leach gold recoveries above the 49% used in the project's Preliminary Economic Assessment. The program includes column leach tests, with results expected later this year, and work to better define boundaries between metallurgical domains. Further testing on bulk rejects from recent Slab drilling is planned once assays are received.
Study resultsLahontan Receives BLM Approval for Additional Santa Fe Drilling
The US Bureau of Land Management has approved an amendment to Lahontan Gold's Notice of Intent, permitting additional drill sites on unpatented lode mining claims on BLM-administered federal land at the Santa Fe Mine project in Nevada's Walker Lane. The holes will test extensions to known gold and silver resources in the Slab and York areas, with drilling to begin shortly as part of Phase One of the 2025 program. Several holes have already been completed and samples submitted, with initial assays expected in the coming weeks.
CorporateLahontan Mobilizes Drill Rig to Santa Fe
A reverse-circulation drill rig and support equipment have been mobilized to the Santa Fe Mine project in Nevada's Walker Lane, with Phase One of the 2025 program focused on the Slab target area. Drilling will start on patented lode mining claims and extend onto Bureau of Land Management ground once the Notice of Intent is approved. The program aims to expand gold and silver resources at Slab and York and supply metallurgical samples, with initial assays expected in four to six weeks.
Drill resultsLahontan Submits Notice of Intent for Additional Drilling at Santa Fe
An amended Notice of Intent has been submitted to the US Bureau of Land Management for additional exploration and resource definition drilling at the Santa Fe Mine project in Nevada's Walker Lane gold belt. The NOI proposes eight additional drill sites, from which multiple holes can be completed, adding to sites already permitted, with approval expected shortly. Drilling will target the Slab and York resource areas, including material for metallurgical test work, with a rig to mobilize after approval.
Drill resultsLahontan Announces Closing of Upsized Private Placement of Units and Welcomes New Institutional Investor
A non-brokered private placement of 42,705,700 units at $0.05 per unit closed for gross proceeds of $2,135,285, with each unit comprising one common share and one-half warrant exercisable at $0.08 for two years. Larry Lepard, through Equity Management Associates, led the financing and indirectly acquired 34,285,700 units, bringing his holdings to 13.34% undiluted. Proceeds will fund working capital and exploration at the Santa Fe Mine Project in Nevada; the Company also granted 10,675,000 options at $0.08.
FinancingLahontan Announces Upsize to Private Placement of Units
Lahontan Gold has increased its non-brokered private placement to up to 44,000,000 units at $0.05 per unit for gross proceeds of up to $2,200,000. Each unit includes one common share and one-half warrant exercisable at $0.08 for two years, subject to acceleration if the shares close above CDN$0.12 for ten consecutive trading days after four months and one day. Proceeds will fund general working capital and exploration at the Santa Fe Mine Project in Nevada, subject to TSX Venture Exchange approval.
FinancingLahontan Announces Private Placement of Units
A non-brokered private placement of up to 40,000,000 units at $0.05 per unit for gross proceeds of $2,000,000 has been launched, with each unit comprising one common share and one-half warrant exercisable at $0.08 for two years, subject to acceleration if the shares close above CDN$0.12 for ten consecutive trading days after four months and one day. Proceeds will fund general working capital and exploration at the Santa Fe Mine Project in Nevada. Closing is subject to TSX Venture Exchange approval.
FinancingLahontan Revamps Board of Directors
Shane Williams, Evan Pelletier and Max Pluss will be appointed to the Board of Directors of Lahontan Gold Corp., effective May 1, 2025, while directors Chris Donaldson and Bob McKnight step down. Josh Serfass and Kimberly Ann remain directors. The company plans to advance its Santa Fe Mine project in Nevada toward production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
ManagementLahontan Reports Progress on Santa Fe Plan of Operation
The U.S. Bureau of Land Management is expected shortly to issue a formal completeness determination for the Exploration Plan of Operations submitted in November 2024 for the Santa Fe Mine project in Nevada, moving permitting into the NEPA phase, with final approval on track for late 2025. The EPOO would permit up to 750 drill holes. Of eight environmental baseline reports, BLM had no comments on four, three comment sets have been addressed, and a Cultural Resources response is due this week. Drilling continues under a Notice of Intent.
NewsLahontan Plans 6,300 Metres of Drilling for West Santa Fe
Planning is complete for a 2025 Phase One drill program at the West Santa Fe gold-silver project in Nevada's Walker Lane, 13 kilometres from the Santa Fe Mine project, comprising 26 reverse-circulation holes totalling 6,300 metres to validate historic drilling and test step-out targets. Previous drilling at West Santa Fe totalled over 13,000 metres in 171 holes. The program will be permitted under a Notice of Intent to be submitted to the Bureau of Land Management, using largely existing roads.
Drill resultsLahontan Announces Closing of Private Placement and Sale of Common Shares by Victoria Gold Corp
A non-brokered private placement closed for gross proceeds of Cdn$720,000 through the issuance of 36,000,000 common shares at Cdn$0.02 per share, with an insider acquiring 10,000,000 shares; the shares are subject to a hold period until June 5, 2025. Victoria Gold Corp. also completed the sale of 42,132,139 Lahontan common shares, representing 17.4% of outstanding shares after the offering, to existing shareholders including two institutional investors. Proceeds will fund general and administrative costs, exploration, metallurgical testing and permitting at the Santa Fe Mine project in Nevada.
FinancingLahontan Announces Filing of Santa Fe Preliminary Economic Assessment & Technical Report
An independent NI 43-101 Technical Report and Preliminary Economic Assessment for the Santa Fe gold-silver project in Mineral County, Nevada, effective December 10, 2024 and dated January 24, 2025, has been filed on SEDAR+ by Lahontan Gold Corp. The report supports the PEA results disclosed in the company's December 11, 2024 news release, with no material differences. Santa Fe hosts Indicated Mineral Resources of 1,539,000 oz Au Eq at 0.99 g/t and Inferred of 411,000 oz Au Eq at 0.76 g/t.
Study resultsLahontan Announces Private Placement of Common Shares
A non-brokered private placement of up to 36,000,000 common shares at $0.02 per share for gross proceeds of up to $720,000 has been launched, and is nearly fully subscribed by existing major shareholders. Proceeds are allocated to general and administrative purposes (29%), exploration at the Santa Fe Mine Project in Nevada (29%), metallurgical testing and consultants (17%) and exploration permitting (25%). Closing is subject to corporate and regulatory approvals, including TSX Venture Exchange, with a four-month-plus-a-day hold period.
Financing
202425 releases
Lahontan Provides Update On Transfer Of Victoria Gold Shares
The Ontario Superior Court of Justice issued a judgement on December 9, 2024 allowing the Receiver, Price Waterhouse Cooper, to proceed with transferring common shares of Lahontan Gold Corp. previously held by Victoria Gold Corp and now under PwC's control. Lahontan has been in contact with a group of its institutional and private investors to facilitate an orderly transfer and expects the transfer to take place shortly.
CorporateLahontan Submits Santa Fe Exploration Plan Of Operation to The Bureau Of Land Management
An Exploration Plan of Operations for the Santa Fe Mine project in Nevada has been submitted to the Bureau of Land Management for approval and a determination of formal completeness, including draft environmental and cultural baseline study reports covering biology, bats, wildlife, vegetation, cultural, visual, surface hydrology, environmental justice and socio-economic values. BLM review would allow the NEPA process to begin, with final POO approval anticipated by Q3 2025. A draft Mining Plan of Operations is expected to be submitted early in 2025.
NewsLahontan Announces Increase in Mineral Resources at Santa Fe: 1,539,000 Au Eq oz Indicated, and 411,000 Au Eq oz Inferred
An updated mineral resource estimate for the Santa Fe Mine in Nevada's Walker Lane reports pit-constrained Indicated Mineral Resources of 1,539,000 gold equivalent ounces grading 0.99 g/t Au Eq and Inferred Mineral Resources of 411,000 Au Eq ounces grading 0.76 g/t Au Eq, with Indicated ounces up 427,000, or 38%, from the 2023 estimate. The estimate, effective October 9, 2024, is based on 988 drill holes totaling 97,281 metres and will underpin a Preliminary Economic Assessment; a 43-101 technical report will be filed within 45 days.
Resource updateLahontan Reports CN-Soluble Gold Up to 91.5% at Calvada, 91.0% at York and 86.7% at Slab; Preg Robbing Potential Very Low
Cyanide-shake metallurgical test work by Kappes, Cassiday and Associates on 205 pulp samples from the four deposits at the 26-km² Santa Fe Mine project in Nevada's Walker Lane returned CN-soluble gold of 91.5% at Calvada, up to 91.0% and averaging 78.4% at York, averaging 69.0% at Slab and 29.6% at Santa Fe, versus currently estimated recoveries of 71%, 60% and 50% respectively. Three of 205 samples showed aggressive preg-robbing potential and one moderate. Bottle-roll and column leach tests are planned ahead of a Preliminary Economic Assessment.
Study resultsLahontan Drills 49 Metres Grading 0.51 g/t Au Eq incl. 7.6 Metres Grading 1.16 g/t Au Eq at Santa Fe
Drilling at the 26 km² Santa Fe Mine project in Nevada's Walker Lane returned 48.8 metres grading 0.44 g/t Au and 7.4 g/t Ag (0.51 g/t Au Eq) in hole CAL24-007R, including 7.6 metres at 1.16 g/t Au Eq, and 7.6 metres grading 2.06 g/t Au and 18.2 g/t Ag (2.22 g/t Au Eq) in CAL24-009R, including 3.1 metres at 4.41 g/t Au Eq. The five holes totalled 1,053 metres; two Santa Fe holes returned no significant assays. Results will feed an updated MRE expected in September 2024 and a PEA.
Drill resultsLahontan Announces Corporate Update
Kimberly Ann, Lahontan's Founder, CEO, President and Director, has been appointed Executive Chair by the Board, effective immediately. The Company also updated on the Lahontan common shares held by Victoria Gold Corp, noting that the Ontario Superior Court of Justice appointed PricewaterhouseCoopers Inc. as receiver and manager of VGCX and its assets, so the share block cannot be sold without Court approval. Lahontan said it is working to assist any potential sale process.
CorporateLahontan Announces Resignation of Director
John McConnell has resigned as a director and Chair of the Board of Lahontan Gold Corp.
ManagementLahontan Gold Begins Metallurgical Testing For Santa Fe PEA
Metallurgical testing has commenced at the Santa Fe Mine project in Nevada's Walker Lane belt in support of a planned Preliminary Economic Assessment, expected to be completed in September 2024. The work, by Kappes, Cassiday and Associates of Reno, covers comminution testing, compacted permeability and preg robbing analysis across the Santa Fe, Slab and Calvada deposits. Prior test work established 79% gold recovery in the Santa Fe deposit via heap leach.
Study resultsLahontan Drills 41 Metres Grading 0.90 g/t Au Eq incl. 16.8 Metres Grading 1.41 g/t Au Eq at Santa Fe
Drill hole CAL24-003R at the Slab-Calvada Complex on the 26 km² Santa Fe Mine project in Nevada's Walker Lane returned 41.2 metres grading 0.88 g/t Au and 2.1 g/t Ag (0.90 g/t Au Eq), including 16.8 metres at 1.39 g/t Au and 2.2 g/t Ag (1.41 g/t Au Eq). CAL24-006R cut 16.8 metres of 0.48 g/t Au and 2.1 g/t Ag, including 3.1 metres at 1.42 g/t Au. The six holes totalled 1,309 metres and will feed an updated MRE expected in August 2024 and a PEA.
Drill resultsLahontan Gold Provides AGM Results
All matters put to shareholders at Lahontan Gold's Annual and Special Meeting, held June 27, 2024, were approved by 98.3% of votes or higher, including the election of all five management nominees to the board, re-appointment of PricewaterhouseCoopers LLP as auditors, and re-approval of the 10% rolling stock option plan. A total of 45.4% of the Company's outstanding shares were represented at the meeting.
CorporateLahontan Completes Phase Two of 2024 Drilling at Santa Fe
Phase Two of the 2024 drilling program at the Santa Fe Mine project in Nevada's Walker Lane is complete, comprising five additional reverse-circulation holes totaling 1,044 metres — three at the Slab target and two at the Santa Fe open pit target. The 2024 program now totals 11 RC holes over 2,347 metres, with all samples delivered to the assay lab and initial results expected shortly. Drilling aimed to define open pit geometries for an updated Mineral Resource Estimate and planned Preliminary Economic Assessment, extend mineralization at depth, and step out north at Slab.
Drill resultsLahontan Confirms Eastern Extension to Shallow Gold Mineralization at West Santa Fe
Geologic mapping and reinterpretation of a previous magnetic geophysical survey have confirmed a near 1,000 metre easterly extension of shallow gold and silver mineralization at the West Santa Fe project in Nevada's Walker Lane, 13 kilometres from the Santa Fe Mine Project. The extension lies east of historic drilling of 171 holes totalling approximately 13,000 metres around the Mindora underground mine, in an area of shallow adits, prospect pits and altered outcrop. Mapping and sampling will continue to finalize drill targets.
Drill resultsLahontan Completes Phase One of 2024 Drilling at Santa Fe
Phase One of the 2024 drilling program at the Santa Fe Mine project in Nevada has been completed, comprising six reverse-circulation holes totaling 1,303 metres, four at the Slab target and two at Calvada East. Samples were sent to American Assay Laboratories in Reno for gold and silver analyses. An additional hole was added at the northern portion of Slab, Phase Two begins later this week, and the Preliminary Economic Assessment remains scheduled for September completion.
Drill resultsLahontan Mobilizes Drill Rig to Santa Fe
A reverse-circulation drill rig, a track-mounted MPD-1500, and support equipment have been mobilized to the Santa Fe Mine project in the Walker Lane, Nevada, with drilling to begin immediately in the Slab open pit target area. The previously announced program totals approximately 3,000 metres and targets expansion of the project's Mineral Resource Estimate, supporting a Preliminary Economic Assessment planned for later this year. Santa Fe hosts 1,112,000 oz Au Eq Indicated at 1.14 g/t and 544,000 oz Au Eq Inferred at 1.00 g/t.
Drill resultsLahontan Announces 3,000 Metre Drill Program for Santa Fe
A 3,000 metre drill program is planned at the Santa Fe Mine project in the Walker Lane, Nevada, comprising approximately 15 reverse-circulation holes in the Slab-Calvada and Santa Fe pit areas, all on previously permitted locations and/or patented lode mining claims. The holes will target resources extending below the conceptual pit shells constraining the current Mineral Resource Estimate. Combined with 3,700 metres drilled in 2023, the near 7,000 metres will be used to update the MRE underpinning the Preliminary Economic Assessment.
Drill resultsLahontan Gold Announces Option Grant
A total of 9,100,000 options to purchase common shares were granted to directors, officers and consultants of Lahontan Gold Corp., exercisable at $0.08 per common share for a period of five years. Common shares issuable on exercise are subject to a four month hold period from the original grant date.
CorporateLahontan Engages Kappes, Cassiday and Associates for Santa Fe Preliminary Economic Assesment
Kappes, Cassiday and Associates of Reno, Nevada has been engaged to produce an updated NI 43-101 Technical Report and Preliminary Economic Assessment for the Santa Fe Mine project in Nevada's Walker Lane, leading a team that includes RESPEC Company LLC (mine design and planning) and Equity Exploration (block model and Mineral Resource Estimate update). The PEA will assess open-pit mining from multiple sites, three-stage crushing, drum agglomeration, heap leaching and a carbon ADR plant, at a plant rate of 10,000 to 15,000 dry tons per day. Work begins immediately, with a timeline to be set after data review.
Study resultsLahontan Gold Anounces Closing of Fully Subscribed Brokered Private Placement
A brokered private placement closed with the issuance of 57,500,000 units at $0.06 per unit for gross proceeds of $3,450,000, including exercise of the agents' option for an additional 7,500,000 units. Each unit includes one common share and one-half warrant exercisable at $0.10 until April 30, 2027. Agents received $215,915 in cash commission, a $5,800 corporate finance fee and 3,695,586 compensation options; proceeds are for exploration, working capital and general corporate purposes.
FinancingLahontan Gold Annouces $3 Million Private Placement of Units
A best efforts private placement of units at $0.06 per Unit for aggregate gross proceeds of up to $3,000,000 has been agreed with Beacon Securities Limited, Haywood Securities Inc. and PI Financial Corp., each Unit comprising one common share and one-half warrant exercisable at $0.10 for 36 months. The agents hold an option for up to 7,500,000 additional units, with closing expected on or about April 30, 2024. Proceeds are for exploration, working capital and general corporate purposes.
FinancingLahontan Begins Final Phase of Base Line Data Collection for Santa Fe Plan of Operations
Consultants have begun the final phase of baseline environmental data collection for the exploration Plan of Operations at the Santa Fe Mine project in Nevada's Walker Lane. Helicopter-borne raptor surveys across the 12.2 km2 study area start next week, followed by botanical surveys, with Cultural and Biological Resource Reports expected ready for BLM and Nevada SHPO review in late Q2 2024. BLM determination of POO completeness is expected in H2 2024, allowing entry into the NEPA process.
NewsLahontan Gold Samples Up to 14.6g/t Gold EQ at West Santa Fe
Rock-chip sampling and geologic mapping at the 19.7 km² West Santa Fe project in Mineral County, Nevada, returned up to 2.61 g/t gold and 899 g/t silver (14.60 g/t Au Eq) from sample 503416, taken from gossanous silicified breccia at the intersection of a northeast-striking high-angle fault and an older low-angle thrust fault. Eleven samples collected near the historic Mindora shaft ranged from 0.02 to 2.61 g/t gold and 0.7 to 899 g/t silver, averaging 1.97 g/t Au Eq. The data will be used to design a Phase One drill program targeting a maiden resource estimate in 2024.
Drill resultsLahontan Gold Reviews 2023 Milestones and Plans for 2024
A review of 2023 activity and 2024 plans covers the maiden Santa Fe Mine resource estimate in Mineral County, Nevada, of 1,112,000 Indicated Au Eq ounces at 1.14 g/t and 544,000 Inferred Au Eq ounces at 1.00 g/t, two financings raising over $5.1M, 3,687 metres of drilling at Slab-Calvada, the West Santa Fe option (US$1.8M payments and US$1.4M exploration over seven years), and staking that expanded Santa Fe to 26.4 km2. For 2024, the priorities are a Santa Fe PEA and submitting a Plan of Operations to the BLM, setting up a potential production decision in 2024.
CorporateMetallurgical Data Review Shows High Heap Leach Oxide Gold Recoveries at Santa Fe
A metallurgical data review by Kappes, Cassiday and Associates of Reno, Nevada on the 26.4 km² Santa Fe Mine project in Nevada estimated weighted project-wide oxide recoveries of 74.4% gold and 29.0% silver at a ½-inch crush size, after lab-to-field deductions of 3% for Santa Fe and 5% for the other deposits. Deposit-level gold recoveries were 79% at Santa Fe, 71% Calvada East, 60% York and 50% Slab. KCA concluded the data is sufficient for inclusion in a Preliminary Economic Assessment.
Study results
202331 releases
Lahontan Samples Up to 5.52 G/T Gold and 45.1 G/T Silver on New Target at Santa Fe
Rock-chip sampling in the Slab pit area of the 26.4 km² Santa Fe Mine project in Nevada returned up to 5.52 g/t gold and 45.1 g/t silver (5.92 g/t Au Eq), with samples ranging from 0 to 5.52 g/t gold and 0.2 to 45.1 g/t silver and averaging 0.97 g/t Au Eq. Mapping identified an offset westerly continuation of the Calvada Fault, documenting a plus 300 metre offset and over two kilometres of additional strike length for drilling.
Drill resultsLahontan Expands Santa Fe Mine Land Package by Almost 40% to Over 26.4KM²
Staking of 98 unpatented lode mining claims covering over 7.5 km² has expanded the Santa Fe Mine project in Mineral County, Nevada to more than 26.4 km², part of 64.1 km² the company controls in the Walker Lane. The new claims cover possible extensions to the Slab gold and silver resources, targets under young gravel, and flat terrain suitable for heap leach pads and waste rock dumps. Lahontan is targeting a PEA for Santa Fe in 2024.
NewsLahontan Provides Update on Environmental Baseline Studies at Santa Fe
Environmental baseline studies for an exploration Plan of Operations at the Santa Fe Mine Project in Nevada's Walker Lane are advancing, with work begun in March 2023 covering approximately 12.1 km2 of the 19.1 km2 project area. Completed items include biological baseline work plans, special status plant, burrowing owl, bat and seeps and springs surveys, and most cultural surveys; fall 2023 and spring 2024 biological surveys remain. Lahontan targets mid-2024 for submission of the draft POO to the BLM, and will continue drilling under its Notice-level permit allowing up to five acres of disturbance within the 4,668-acre boundary.
CorporateLahontan Drills 35 Metres Grading 1.05 g/t Au Eq Incl. 4.6 Metres Grading 3.14 g/t Au Eq at Santa Fe
Results from eight reverse-circulation holes totaling 1,533 metres from the Phase Three program at the 19 km² Santa Fe Mine Project in Nevada's Walker Lane included 35.0 metres grading 1.02 g/t Au and 3.6 g/t Ag (1.05 g/t Au Eq) in CAL23-006R, including 4.6 metres at 3.14 g/t Au Eq, and 21.4 metres at 0.96 g/t Au Eq in CAL23-007R. Hole CAL23-011R cut 85.3 metres grading 0.33 g/t Au Eq north of the Slab resource. Lahontan plans a mineral resource estimate update and Preliminary Economic Assessment for early next year.
Drill resultsLahontan Gold Announces Closing of Brokered Private Placement of Units
A brokered private placement closed with the issuance of 25,000,000 units at $0.08 per unit for gross proceeds of $2,000,000, each unit comprising one common share and one warrant exercisable at $0.12 until September 1, 2026. The Agents, Beacon Securities and Haywood Securities, received approximately $108,052 in cash commission and 1,354,290 compensation options exercisable at $0.08 until September 1, 2026. Insiders subscribed for 2,687,500 units. Proceeds will fund exploration and development at the Santa Fe and West Santa Fe projects in Nevada and working capital.
FinancingLahontan Provides Update on Acquisition of West Santa Fe
An amending agreement dated August 8, 2023 was entered into with Golden Arrow Mining Corporation and Lahontan Gold (US) Corp., amending the July 19, 2023 lease with option to purchase agreement for the West Santa Fe gold-silver exploration project, located 15 km west of the Santa Fe Mine in Nevada's Walker Lane. To exercise the option, Lahontan must make option payments totalling US$1,845,000 over seven years and incur US$1,400,000 in expenditures. Up to 50% of each payment may be settled in common shares priced at the greater of a 30-day VWAP or CAD$0.075.
AcquisitionLahontan Announces Brokered Financing
A brokered best-efforts private placement of units at $0.08 per unit for minimum gross proceeds of $2,000,000 has been agreed with Beacon Securities Limited as sole bookrunner, alongside Haywood Securities Inc. Each unit comprises one common share and one warrant exercisable at $0.12 for 36 months, subject to an acceleration clause if shares trade at $0.24 or more for 20 consecutive days after the first anniversary. Closing is anticipated on or around August 15, 2023, with proceeds directed to the Santa Fe and West Santa Fe projects in Nevada and working capital. Agents receive a 7.0% cash commission and compensation options equal to 7.0% of units sold.
FinancingLahontan Signs Definitive Agreement To Acquire West Santa Fe
A definitive agreement was signed with a wholly-owned subsidiary of Emergent Metals Corp to option the West Santa Fe gold-silver project, 15 km west of Lahontan's Santa Fe Mine in Nevada's Walker Lane. Lahontan must pay US$1.8M over seven years, back-end loaded in cash and/or shares, for 100%, plus US$1.4M in exploration expenditures over the same period. Closing is subject to final TSX Venture Exchange approval. West Santa Fe now covers 19.7 km2 following the staking of 95 claims.
AcquisitionLahontan Drills 30.5 Metres Grading 0.74 g/t Au Eq OXIDE, Expands York Mineralized Zone at Santa Fe
Six RC holes totaling 1,271 metres at the York pit area of the 19 km² Santa Fe Mine Project in Nevada's Walker Lane returned 30.5 metres grading 0.74 g/t Au and 0.5 g/t Ag (0.74 g/t Au Eq) in oxide material in YOR23-006R, including 10.7 metres at 1.01 g/t Au and 1.9 g/t Ag (1.03 g/t Au Eq). The holes, part of a 7,000 metre Phase Three campaign, are the first exploratory drilling at York in over 30 years and intercepted oxide and transition mineralization below and east of the current conceptual pit shell.
Drill resultsLahontan Drills 38.1 Metres Grading 0.89 g/t Au Eq and 82.3 Metres Grading 0.70 g/t Au Eq Oxide at Santa Fe
The first four reverse-circulation holes of a 7,000 metre Phase Three campaign at the 19 km² Santa Fe Mine Project in Nevada's Walker Lane returned oxide-domain intercepts including 38.1 metres grading 0.87 g/t Au and 2.5 g/t Ag (0.89 g/t Au Eq) in CAL23-004R, with 10.6 metres at 2.04 g/t Au Eq and 4.6 metres at 3.25 g/t Au Eq, and 82.3 metres at 0.70 g/t Au Eq in CAL23-001R, including 21.3 metres at 0.95 g/t. The four holes totalled 883 metres west of the Calvada pit; mineralization remains open west, east and at depth.
Drill resultsLahontan Samples Up to 13.54 g/t Au Eq at West Santa Fe
Rock-chip sampling at the West Santa Fe Project in Nevada's Walker Lane returned results ranging from 0.13 g/t to 13.54 g/t Au Eq, with four samples from outcrop in the main mineralized zone grading 2.71 to 13.54 g/t Au Eq and averaging 7.30 g/t Au Eq, and silver values of 90 to 857 g/t Ag averaging 282 g/t. Statistical analysis of historic soil geochemistry outlined multiple northeast-trending targets across the 19.7 km2 land package; further rock-chip and soil sampling is planned.
Drill resultsLahontan Expands West Santa Fe Project to 19.7 Km2by Staking, Now Controls 57 Km2in the Walker Lane
An additional 794 hectares of mineral rights were staked at the West Santa Fe Project in Nevada's Walker Lane, via 95 unpatented lode mining claims (DORA 1-95), expanding the project to 19.7 km2 and Lahontan's Nevada land position to 57 km2. West Santa Fe lies 15 km west of the Santa Fe Mine and has seen over 13,000 metres of drilling in 171 holes. The new claims are subject to the same 1.5% NSR royalty terms as the existing option agreement.
CorporateLahontan Signs Binding Term Sheet to Acquire Strategic Advanced Gold-Silver Project Adjacent to Santa Fe
A binding term sheet with a subsidiary of Emergent Metals Corp gives Lahontan an option to acquire 100% of the 11.8 square kilometre West Santa Fe gold-silver project, 15 km west of its Santa Fe Mine in Mineral County, Nevada, for US$1.8 million in payments and US$1.4 million in exploration expenditures over seven years. Emergent will retain NSR royalties of 1% and 1.5%, with a buyback option on half the 1.5% NSR. Historical drilling totals over 13,000 metres in 171 holes. Closing is subject to a 45-day due diligence period and TSX Venture Exchange approval.
AcquisitionLahontan Mobilizes Drill Rig to Santa Fe
Drill resultsLahontan Receives Permits for 2023 Drilling Campaign at Santa Fe
The U.S. Bureau of Land Management approved an amendment to Lahontan Gold's previously approved Notice of Intent to Operate, permitting up to 11,000 metres of drilling at the Santa Fe Mine in Nevada's Walker Lane. The campaign aims to expand known shallow oxide gold and silver resources, targeting an updated Mineral Resource Estimate by year-end 2023. Santa Fe currently hosts 1,112,000 oz Au Eq Indicated at 1.14 g/t and 544,000 oz Au Eq Inferred at 1.00 g/t.
CorporateLahontan Gold To Begin Base-Line Environmental Studies At Santa Fe
Baseline environmental studies will commence at the Santa Fe Mine in Nevada's Walker Lane, supporting a Plan of Operations submittal to the Bureau of Land Management covering 12.2 km2 of the 19 km2 property. Approval would permit road building and drilling, versus the current Notice of Intent allowing up to five acres of disturbance. Great Basin Environmental Services, LLC has been contracted as permitting agent. Resource expansion drilling continues under the NOI, targeting an updated Mineral Resource Estimate by year-end.
CorporateLahontan Gold Appoints Brian Maher Vice President – Exploration
Brian J. Maher, a founder of Lahontan Gold Corp., has been appointed Vice President – Exploration. Maher is an economic geologist with over 45 years of experience, previously serving as President, CEO and Director of Prodigy Gold Inc. and as President and CEO of PPX Mining from 2013 to 2022. He will lead the technical team advancing the Santa Fe Mine project in Nevada toward a Preliminary Economic Assessment.
ManagementLahontan Gold Announces Closing of Non-Brokered Private Placement of Units
A non-brokered private placement closed with the issuance of 455,000 units at $0.11 per unit for gross proceeds of $50,050. Each unit consists of one common share and one-half of one warrant, with each whole warrant exercisable at $0.18 until February 28, 2026, and the securities subject to a four-month hold period. Proceeds will fund exploration at the Santa Fe property in Nevada plus working capital and general corporate purposes.
FinancingLahontan Gold Announces Filing of Santa Fe Technical Report
An independent NI 43-101 Technical Report and Mineral Resource Estimate for the Santa Fe Mine gold-silver project in the Santa Fe District, Mineral County, Nevada, effective December 7, 2022 and dated March 2023, has been filed on SEDAR, supporting the disclosure in the January 17, 2023 news release with no material differences. The Santa Fe Mine hosts an Indicated Mineral Resource of 1,112,000 oz Au Eq at 1.14 g/t and an Inferred Resource of 544,000 oz Au Eq at 1.00 g/t, all pit constrained.
Study resultsLahontan Gold Announces Closing of Upsized Brokered Private Placement of Units
A brokered private placement of 27,857,400 units at $0.11 per unit closed for gross proceeds of $3,064,314, including exercise of the agents' option, with Beacon Securities as lead agent and Canaccord Genuity as co-agent. Each unit includes one common share and one-half warrant exercisable at $0.18 until February 28, 2026. The Agents received approximately $193,514 in cash commission and 1,750,168 compensation warrants. Proceeds will fund exploration at the Santa Fe property in Nevada and working capital.
FinancingLahontan Announces Upsize to Private Placement of Units
The previously announced private placement has been upsized to up to 20,910,000 units at $0.11 per unit for gross proceeds of up to $2,300,100, with Beacon Securities Limited acting as agent on a best efforts basis. Each unit includes one common share and one-half warrant exercisable at $0.18 for 36 months, and Beacon holds an option for up to 9,090,000 additional units. Proceeds are earmarked for exploration at the Santa Fe property in Nevada and working capital, with closing expected on or about February 28, 2023.
FinancingLahontan Gold Announces $1.5 Million Private Placement
A best efforts private placement of up to 13,640,000 units at $0.11 per unit for gross proceeds of up to $1,500,400 has been agreed with Beacon Securities Limited as sole agent. Each unit comprises one common share and one-half warrant exercisable at $0.18 for 36 months; Beacon holds an option for up to 9,090,000 additional units and receives a 7.0% cash fee plus compensation options. Closing is expected on or about February 28, 2023, with proceeds for working capital and general corporate purposes.
FinancingLahontan Gold Begins Met Testing at Santa Fe
Metallurgical test work has started at the Santa Fe Mine, a past-producing open pit heap-leach gold and silver project in Mineral County, Nevada, to verify historic recoveries from oxide mineralization and provide baseline data for future process flowsheets. The first phase comprises bottle-roll tests on reverse-circulation drill cuttings, followed by crush-size optimization, column leach tests and agglomeration evaluation. Previous bottle-roll tests returned oxide gold recoveries up to 88.9% with cyanide consumption averaging 0.25 kg/tonne.
Study resultsLahontan Featured in Beacon Securities Top 15, 2023 Mining Watchlist
Inclusion in Beacon Securities' Top 15 2023 Mining Watchlist was disclosed, a list of early-stage explorers Beacon does not formally cover, with Lahontan listed as LG-V for resource development in Nevada. The profile cites a C$0.07 share price, 93.5 million shares outstanding, a C$6 million market capitalization and C$1.6 million in recent cash, plus Santa Fe drill results of 25.9m grading 2.55 g/t Au and 138.6m grading 1.06 g/t Au, with 2023 plans for Santa Fe and Moho drilling and a Santa Fe resource estimate.
CorporateLahontan Announces 1,112,000 oz INDICATED and 544,000 oz INFERRED Au Eq Maiden Mineral Resource Estimate at Santa Fe
A maiden pit-constrained mineral resource estimate for the Santa Fe Mine in Mineral County, Nevada reported Indicated Resources of 30,400 kt at 1.14 g/t Au Eq for 1,112,000 contained gold equivalent ounces and Inferred Resources of 17,007 kt at 1.00 g/t Au Eq for 544,000 ounces. Indicated oxide resources total 21.6 Mt at 1.03 g/t Au Eq (712,000 oz) and inferred oxide 11.1 Mt at 0.73 g/t Au Eq (262,000 oz). The estimate, effective December 7, 2022, is based on 1,275 drill holes totaling 125,435 metres; a NI 43-101 technical report will be filed within 45 days.
Resource update
202226 releases
Lahontan Drills more Gold at Slab: 32.0m Grading 0.65 gpt AuEq
Drill hole CAL22-016R at the Slab pit area of the 19 km² Santa Fe Project in Nevada's Walker Lane returned 32.0 metres grading 0.59 gpt Au and 4.4 gpt Ag (0.65 gpt AuEq), including 6.1 metres at 1.18 gpt Au and 14.4 gpt Ag (1.37 gpt AuEq). CAL22-015R returned 62.5 metres at 0.33 gpt Au and 2.6 gpt Ag (0.36 gpt AuEq). The five holes, totaling 1,111 metres, complete the Phase Two campaign; a maiden resource estimate is expected in Q1 2023.
Drill resultsLahontan in The Assay – Explorers Edition
Drill resultsLahontan Drills More Oxide Gold at Slab: 32.0m Grading 0.61 gpt AuEq
Drill hole CAL22-010R at the Slab pit area of the 19 km² Santa Fe Project in Nevada's Walker Lane returned 32.0 metres grading 0.50 gpt Au and 7.9 gpt Ag (0.61 gpt AuEq), including 10.7 metres at 0.93 gpt Au and 18.7 gpt Ag (1.18 gpt AuEq). The four Phase Two RC holes totalled 883 metres and extend mineralization at least 350 metres down dip east of the pit. Results from five remaining holes are pending, with a maiden resource estimate expected in Q1 2023.
Drill resultsLahontan Gold Issued Shares in Connection with Amendment to Moho Option Agreement
A payment of US$129,875 in cash and the issuance of 800,000 common shares at a deemed value of US$0.08 per share have been made to Minquest Ltd. under a second amending agreement dated October 3, 2022 to the mining lease option to purchase agreement. The amendment extends the term of the agreement to March 31, 2023, under which Lahontan Gold holds an option to purchase 50 unpatented lode mining claims comprising the Moho Property in Mineral County, Nevada. The shares carry a four month and one day hold period.
FinancingLahontan Gold Announces Amendment to Moho Option Agreement
A second amending agreement was entered into on October 3, 2022 with Minquest Ltd. and Lahontan Gold (US) Corp., extending the term of the option to purchase 50 unpatented lode mining claims comprising the Moho Property in Mineral County, Nevada to March 31, 2023. Consideration was US$129,875 in cash and 800,000 common shares issued to Minquest at a deemed value of US$0.08 per share. Completion remains subject to regulatory approvals, including the TSX Venture Exchange; no finder's fees are payable.
AcquisitionLahontan in The Assay Precious Metals Edition
Drill resultsLahontan Drills More Shallow Gold at Slab-Calvada; 25.9m Grading 2.55 gpt Au
The first seven reverse-circulation holes of Phase Two drilling at the Slab-Calvada pit area of the 19 km² Santa Fe Project in Mineral County, Nevada, totaling 1,710 metres, returned 25.9 metres grading 2.55 gpt Au and 3.4 gpt Ag (2.60 gpt Au Eq) from 68.6 metres downhole in CAL22-006R, including 10.7 metres at 4.13 gpt Au. CAL22-002R cut 47.2 metres at 0.78 gpt Au, including 32.0 metres at 1.04 gpt Au. Drilling continues, with results to be included in a maiden resource estimate.
Drill resultsLahontan Drills 138.6m Grading 1.06 gpt Au Eq at Santa Fe
Drill results from ten RC holes at the 19 km² Santa Fe Project in Nevada's Walker Lane include SF21-015R, which cut 138.6m grading 1.01 gpt Au and 3.4 gpt Ag (1.06 gpt Au Eq), and SF21-016R with 102.1m at 0.69 gpt Au and 1.7 gpt Ag (0.71 gpt Au Eq). Eight of the holes, totaling 2,614 metres, are the final RC holes from the 2021 campaign, which drilled 9,410 metres. RC drilling has resumed at Slab, with a maiden resource estimate targeted for 2022.
Drill resultsLahontan Gold Resumes Exploration Drilling at Santa Fe
Phase Two exploration drilling has resumed at the 19 km² Santa Fe Project in Nevada's Walker Lane, initially targeting oxide gold and silver mineralization adjacent to the Slab pit and Calvada fault areas. About 18 reverse-circulation rotary holes totaling 3,700 metres are planned, targeting areas adjacent to and down-dip from the 2021 core drilling campaign. Drilling at other Santa Fe targets is in planning. The company aims to publish an NI 43-101 mineral resource estimate in 2022.
Drill resultsLahontan Gold Announces Listing On The OTCQB Venture Market
Approval from OTC Markets Group Inc. for trading on the OTCQB Venture Market took effect July 25, 2022 under the symbol LGCXF, with the common shares continuing to trade on the TSX Venture Exchange under the symbol LG. The company holds three gold and silver exploration properties in the Walker Lane of Nevada, including the 19 km2 Santa Fe Project, and is targeting publication of an NI 43-101 compliant mineral resource estimate in 2022.
CorporateMore Shallow Oxide Gold: Lahontan Drills 21.0m Grading 0.93 gpt AuEq at Slab-Calvada
Drill hole CAL21-007C returned 21.0 metres grading 0.89 gpt Au and 2.7 gpt Ag (0.93 gpt Au Eq) at the Slab-Calvada pit area of the 19 km² Santa Fe Project in Mineral County, Nevada, while CAL21-006C cut 32.1 metres at 0.54 gpt Au and 3.7 gpt Ag (0.58 gpt Au Eq) from a vertical depth of 60 metres. The three core holes, totaling 552 metres, were completed in late 2021, completing 2021 results for the area. Oxidized mineralization has been traced over nearly 200 metres vertically and remains open at depth, with over 1,500 metres of strike length to explore.
Drill resultsLahontan Drills New “Bonanza” High Grade Zone at Santa Fe: 25.9m Grading 20.36 gpt Au Incl. 4.6m Grading 112.3 gpt Au
Drill hole SF21-014R at the 19 km² Santa Fe Project in Nevada's Walker Lane returned 25.9 metres grading 20.36 gpt Au, including 4.6 metres at 112.25 gpt Au, in a newly identified zone called Bonanza about 350 metres northwest of the Big Horn zone and roughly 140 metres below the bottom of the Santa Fe pit. SF21-009R, drilled from the same site, cut 35.1 metres grading 1.07 gpt Au. The two RC holes totalled 518.2 metres and were completed in late 2021.
Drill resultsWall Street Analyzer Interview
CorporateLahontan Launches 2022 Exploration Program at Moho
The 2022 exploration program has begun at the 9.2 km² Moho Project in Nevada's Walker Lane, with this phase focused on a detailed structural interpretation of the Moho vein system to guide drilling later this year. Prior work includes almost 2,000 metres of core drilling in 2018, over 370 underground and surface rock-chip and channel samples, and a project-wide ground magnetic survey. Highlights from 2018 drilling include 1.4 metres grading 12.8 gpt Au, 312 gpt Ag and 10.2% Pb in MOH-002C.
Drill resultsLahontan Drills Thick Continuous Gold at Santa Fe: 226m Grading 1.22 gpt Au and New High -Grade Zone
Drill hole SF21-006c at the 19 km² Santa Fe Project in Mineral County, Nevada returned 225.9 metres grading 1.22 gpt Au (1.26 gpt Au Eq) from 174.7 m, ending in mineralization, including 2.1 m at 14.31 gpt Au and 35.4 gpt Ag in a newly identified Bighorn Zone, with assays up to 26.2 gpt Au and 61.0 gpt Ag. SF21-007c cut 64 m at 0.74 gpt Au Eq and SF21-008c returned 18 m at 0.43 gpt Au Eq. The four holes totalled 1,549 metres.
Drill resultsLahontan Drills Shallow Oxide Gold at Santa Fe: 41.1m Grading 0.54 gpt Au Starting at 52.4m
Drilling at the Slab pit area of the 19 km² Santa Fe Project in Mineral County, Nevada returned 41.1 metres grading 0.54 gpt Au and 1.8 gpt Ag (0.56 gpt Au Eq) from 52.4 metres, plus a second zone of 19.5 metres at 0.26 gpt Au and 5.6 gpt Ag, in hole CAL21-002C. Hole CAL21-005C cut 26.7 metres at 0.44 gpt Au and 3.1 gpt Ag from 29.4 metres. The four holes totalled 891 metres; results for CAL21-004C, 006C and 007C are pending.
Drill resultsLahontan Engages Independent Trading Group as Market-Maker
A market-making agreement has been signed with Independent Trading Group, effective May 13, 2022, for an initial three-month term that automatically extends for successive one-month terms unless terminated on 30 days' notice. ITG will receive $5,000 per month, paid monthly in advance from working capital, with no performance factors and no shares, options or other securities as compensation. ITG provides the market-making capital and the agreement is subject to TSX Venture Exchange approval.
CorporateLahontan Drills Thick Intervals of High-Grade Gold at Santa Fe: 100.3m Grading 3.79 gpt Au Eq Incl. 4.9m Grading 12.45 gpt Au Eq
Drill hole SF21-001C at the 19 km² Santa Fe Project in Nevada's Walker Lane returned 100.3m grading 2.96 gpt Au and 62.2 gpt Ag (3.79 gpt Au Eq), including 37.3m at 5.06 gpt Au Eq and 4.9m at 10.76 gpt Au and 126.7 gpt Ag (12.45 gpt Au Eq). The results come from five core holes totaling 1,368 metres completed in 2021, with SF21-004C cutting 23.9m at 0.90 gpt Au Eq in oxide material and SF21-005C cutting 8.5m at 3.63 gpt Au Eq. Results for 23 additional drill holes are pending.
Drill resultsLahontan Gold Grows (Expands) Land Position at Santa Fe
Twenty-two unpatented lode mining claims have been staked at the Santa Fe Project in Mineral County, Nevada, expanding the property to over 19 square kilometres in the Walker Lane. The claims cover potential southern extensions to the high-grade BH Zone, surface geochemical and hydrothermal alteration anomalies, and gaps between existing holdings and adjacent claimants. Lahontan plans a 25,000 metre drilling program aimed at publishing an NI 43-101 compliant mineral resource estimate in 2022.
NewsLahontan Gold Corp. Commences Trading on TSX Venture Exchange, Announces Board Appointments
Lahontan Gold Corp. (formerly 1246765 B.C. Ltd.) began trading on the TSX Venture Exchange on April 13, 2022 under the symbol LG. Chris Donaldson, Josh Serfass and Bob McKnight were appointed independent directors, John McConnell was named Board Chair, and Brian Maher stepped down from the Board to continue as Director of Exploration. The company holds three gold and silver exploration properties in Nevada's Walker Lane, including the 18 km² Santa Fe Project, where a 25,000 metre drilling program is planned toward an NI 43-101 resource estimate in 2022.
CorporateLahontan Gold Corp. Announces Trading to Commence on TSX Venture Exchange
Common shares of Lahontan Gold Corp. (formerly 1246765 B.C. Ltd.) will begin trading on the TSX Venture Exchange under the symbol LG at market open on April 13, 2022. The Company also granted 3,950,000 options to directors, officers and consultants, exercisable at $0.45 per common share for five years, with shares issuable on exercise subject to a four-month hold period from the grant date. Lahontan holds three gold and silver exploration properties in Nevada's Walker Lane, led by the 18 km2 Santa Fe Project.
Corporate1246765 B.C. LTD. and Lahontan Gold Corp. Announce Closing of Reverse Takeover Transaction
The reverse takeover of Lahontan Gold Corp. by 1246765 B.C. Ltd. has closed, with 82,660,501 common shares issued to former Lahontan PrivCo shareholders, who together with subscription receipt subscribers hold about 98.80% of the issued and outstanding shares. The shares have been conditionally approved for listing on the TSX Venture Exchange under the symbol LG. A concurrent private placement of 8,888,889 subscription receipts at $0.45 raised gross proceeds of $4,000,000.05, to fund working capital and drilling at the 100%-owned Santa Fe Gold-Silver Project in Nevada.
Acquisition1246765 B.C. LTD and Lahontan Gold Corp. Announce Closing of Over-Subscribed Private Placement
Lahontan Gold Corp. closed a best efforts private placement of 8,888,889 subscription receipts at $0.45 each for gross proceeds of $4,000,000.05, with Beacon Securities Limited as lead agent and sole bookrunner alongside Canaccord Genuity Corp. Each receipt converts, on satisfaction of escrow release conditions, into one unit of one common share and one-half warrant exercisable at $0.65 for 24 months. Proceeds will fund working capital and continued exploration drilling at the 100%-owned Santa Fe Gold-Silver Project in Nevada's Walker Lane.
FinancingLahontan Gold and 1246765 B.C. Ltd. Announce Receipt of Conditional Approval to List on the TSX Venture Exchange
The TSX Venture Exchange conditionally accepted the proposed listing application of the resulting issuer on March 3, 2022, in connection with the reverse takeover of Lahontan Gold Corp. by 1246765 B.C. Ltd. Final approval is subject to conditions including completion of the RTO. Under the amalgamation agreement, LGC shares with a deemed price of $0.45 will be exchanged one-for-one for resulting issuer shares, with 765 consolidating its 3,000,000 shares on a one-for-2.7 basis. Lahontan holds three gold-silver properties in Nevada's Walker Lane, including the 18 km2 Santa Fe Project.
Corporate