Lahontan Gold Corp. (TSXV: LG) (OTCQB: LGCXF) has announced the receipt of C$4,316,948 from the exercise of warrants and stock options between July 4 and Oct. 23, 2025. The exercises resulted in 334,420,221 common shares outstanding. The proceeds will fund exploration and mine development at the company's Nevada projects, including the Santa Fe and West Santa Fe sites located in the Walker Lane gold belt.
CEO Kimberly Ann stated that the exercises reflect strong shareholder confidence and leave Lahontan fully financed for its fall drilling programs. The move also tightens the company's share structure for future growth. The company's flagship property, the 26.4 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 tonnes grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained. The company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025.
The technical content of this news release has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101. For more information, readers can visit the company's website at www.lahontangoldcorp.com. The full press release is available at https://ibn.fm/mSt0q.
This capital injection arrives at a critical time for Lahontan Gold, as the company aims to de-risk its Santa Fe project and potentially move towards production. The Walker Lane region in Nevada is known for its prolific gold and silver deposits, and Lahontan's properties are strategically positioned. The company's focus on heap-leach processing, a cost-effective method, could enhance the project's economics.
Investors should note that the company's share structure has been tightened following the warrant exercises, which may reduce dilution going forward. With a solid cash position, Lahontan is well-equipped to execute its exploration plans and deliver updates on resource estimates and economic assessments. The company's newsroom, available at http://ibn.fm/LGCXF, provides the latest updates for those interested in following the company's progress.
