Lahontan Reports Cyanide Recoveries of 81% for Gold and 60% for Silver at West Santa Fe
Lahontan Gold Corp. (TSX-V:LG) (OTCQB:LGCXF) (FSE:Y2F) is pleased to announce that analyses of pulp samples from the Company’s 2025 reverse-circulation drilling program show high levels of cyanide extraction for gold and silver that corroborates and validates previous metallurgical testing at Lahontan’s West Santa Fe project.
Highlights of the CN test program include:
CN extractable gold averaged 81% compared to the original fire assay gold values for individual pulp samples (please see graph below). This is a very high CN extraction ratio and greater than the projected gold recovery reported in previous metallurgical testing for West Santa Fe (more below).
CN extractable silver averaged 60% compared to the original ICP and fire assay analyses (please see graph below). This is also a high CN extraction ratio, especially for silver, and is greater than the projected silver recovery reported in previous metallurgical testing.
Kimberly Ann, Lahontan Executive Chair, President, CEO, and Founder commented: “The results of the CN extractable gold and silver analyses confirm our belief that precious metal mineralization at West Santa Fe is amenable to CN heap leach processing for gold and silver recovery. Combined with the results of the 2025 RC drilling program, which replicated the gold and silver results from historic drilling, we are checking all the boxes: Exploration will now continue at West Santa Fe, seeking to expand the footprint of the precious metal system in anticipation of the preparation of a Mineral Resource Estimate later this year.”
The Company submitted 158 pulp samples from its 2025 RC drilling program for CN-extractable gold and silver analyses, a method that mimics potential gold and silver recoveries utilizing CN heap leach processing. The samples represent all the significant gold and silver intercepts from the 2025 RC drilling program as disclosed in Lahontan press releases dated February 5, 10, 18, and 24, 2026. As reported previously, a considerable amount of metallurgical test work has been completed on the project including cyanide column leach tests and conventional grinding with CIP precious metal recovery. In a summary report* (dated September 20, 1982) reviewing all the available metallurgical test data, Kappes Cassiday and Associates concluded “a cyanide heap leach process will yield an overall recovery of 70% of contained gold and 50% of contained silver. The process will include crushing to below one inch and agglomeration.” The CN extractable gold and silver assay results reported herein support the conclusions of the 1982 Kappes Cassiday report and affirm the amenability of West Santa Fe gold and silver mineralization to CN heap leach processing. Additional metallurgical test work will target optimizing precious metal recovery and lowering processing costs.
* The 1982 metallurgical results referenced above are historical in nature and were compiled from reports in the E & B Exploration archives. While these results suggest high recovery rates, a Qualified Person has not verified this data against modern standards. Therefore, these results should be considered illustrative of the potential of the property only and not relied upon as a current, verified, or representative estimate of recovery. The Company anticipates that additional metallurgical test work will be required to further verify the historic data.
CN-extractable gold assays ranged from 41% to >100% with the vast majority of the results clustered around the average value of 81%. Recoveries of gold more than 100% reflect the analytical uncertainty and accuracy of the combined analytical procedures.
CN-extractable silver assays ranged from 19% to 91% with the vast majority of the results clustered around the average value of 50%.
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan’s flagship property, the 28.3 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq (48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and continue drill testing its satellite West Santa Fe project during 2026. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the “Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project”, Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company’s website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 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$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
