Lahontan Gold Corp. Receives BLM Approval for Expanded Drilling at Santa Fe Mine Project

Lahontan Gold Corp. has reached a critical juncture with the U.S. Bureau of Land Management granting approval for expanded drilling operations at its flagship Santa Fe Mine project. This authorization enables the company to explore new drill sites on unpatented federal claims within Nevada's mineral-rich Walker Lane trend, specifically targeting extensions of known gold and silver resources in the Slab and York zones. The project spans 26.4 km2 and has a substantial production history, having yielded 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995.

The Santa Fe Mine project represents a significant asset for Lahontan Gold Corp., containing a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq and an Inferred Mineral Resource of 411,000 oz Au Eq. The company's Phase One drilling program is currently in progress, with assay results from several completed holes expected to be released in the coming weeks. This expansion approval comes at a crucial time for the mining sector, particularly in Nevada where the Walker Lane trend has long been recognized for its mineral wealth.

The BLM's decision reflects a collaborative approach to mineral resource development that balances economic potential with environmental considerations. This expansion could have substantial economic implications for Nevada's mining industry and local communities surrounding the project. With gold and silver prices maintaining strength in global markets, the successful development of additional resources at Santa Fe could significantly enhance the project's viability and contribute to Nevada's position as a leading mining jurisdiction. The mining industry is closely monitoring the outcomes of this expanded drilling program, as the results could influence future exploration strategies and investment decisions across the sector.