Lahontan Gold management commentary flags Santa Fe drilling and resource update as key driver in June 30, 2026 period MD&A

• In management commentary for the three and six months ended June 30, 2026, Lahontan highlighted exploration and permitting momentum at Santa Fe.
• Focus centered on an updated Santa Fe mineral resource estimate, lifting pit-constrained contained Au Eq ounces by 22% versus 2024.
• Indicated resources totaled 1,195,000 Au Eq ounces at 0.78 g/t; inferred totaled 1,190,000 Au Eq ounces at 0.61 g/t.
• Commentary pointed to drilling that extended mineralization beyond conceptual pits, building targets for growth, including deeper sulphide zones.
• Management also cited heap-leach pad and stockpile drilling, with early stockpile results averaging 2.3 g/t Au Eq and CN-extractable gold averaging over 30%.

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