A Canadian-based mineral exploration company with four high-potential gold and silver projects in Nevada’s Walker Lane, Lahontan (TSX.V: LG) (OTCQB: LGCXF) is operated via U.S. subsidiaries. With a flagship brownfield mine, robust resource, and active drilling programs, Lahontan offers investors exposure to both near-term development and exploration upside in one of the world’s most mining-friendly regions — Nevada’s Walker Lane.
The Walker Lane stands out as one of the hottest exploration plays in the U.S. and is known for its high-grade gold and silver discoveries, reports a May 2025 Investing News Network (“INN”) report. The trend follows a geologic trough along the California-Nevada border, shaped by sinistral strike-slip faults that have influenced the surrounding topography.
“Unlike the well-known Carlin and Cortez trends, which are primarily associated with sediment-hosted gold deposits, the Walker Lane is renowned for its diversity of mineral occurrences, including epithermal gold-silver deposits and porphyry copper systems,” the INN article continued. “This geological variety offers explorers a wider range of potential discoveries. The trend’s resurgence can be attributed to advances in exploration techniques, a favorable precious metals market, and the increasing demand for domestic mineral resources.”
Lahontan’s centerpiece in the region is the Santa Fe Mine project, a former open-pit producer that generated around 356,000 ounces of gold and 784,000 ounces of silver between 1988 and 1995 (ibn.fm/MkNcU). This brownfield advantage provides access to existing infrastructure and simplifies permitting, significantly derisking development efforts.
The company’s November 2024 NI 43-101 mineral resource estimate for Santa Fe revealed an indicated resource of approximately 1.54 million ounces gold equivalent grading 0.92 g/t Au and 7.18 g/t Ag, plus an additional 411,000 ounces inferred at 0.74 g/t Au and 3.25 g/t Ag (ibn.fm/crOTx). The mineral resource estimate showed oxide-indicated ounces of around 712,000 Au-eq and inferred ounces to 262,000 Au-eq, highlighting both grade and scale in near-surface mineralization. Shallow, oxide-hosted deposits like these are typically cheaper to mine, offering a faster pathway to production compared to deeper resources.
In February 2024, Lahontan launched a 3,000-meter reverse-circulation drill program targeting extensions in the Slab-Calvada and Santa Fe pit zones. This follows 3,700 meters drilled in 2023, all feeding into an enhanced understanding of resource continuity for a forthcoming update to the project’s Preliminary Economic Assessment (ibn.fm/972sm).
With Bureau of Land Management approval in June 2025, Lahontan expanded its drilling permit further, an endorsement that supports accelerated exploration and potential resource growth (ibn.fm/XIoUP). Based on these developments, investors may see assay results imminently, which could further unlock value.
Beyond Santa Fe, Lahontan holds three additional properties — West Santa Fe, Moho and Redlich — that enhance the company’s upside. West Santa Fe, situated just 13 kilometers from the main property, delivered surface samples of up to 2.61 g/t gold and 899 g/t silver (1.97 g/t Au-eq average), demonstrating strong potential for satellite deposits (ibn.fm/RcrXx). These broader assets diversify exploration risk and can potentially bolster scale for future development.
From a financial standpoint, Lahontan has successfully raised capital to support its growth trajectory. Prior to its April 2022 public listing, the company secured more than CA$12.5 million in financing, allocated toward drilling and the Santa Fe maiden resource (ibn.fm/v7U1S). Last year, the company closed a fully subscribed brokered private placement raising CA$3.45 million through the issuance of 57.5 million units, strengthening the balance sheet for advancing permitting and resource conversion efforts (ibn.fm/TkmYz). More recently in April 2025, Lahontan completed a non-brokered private placement of nearly 42.7 million units for gross proceeds of C$2.14 million, highlighting continued investor support (ibn.fm/yU049). These proceeds, led by institutional investors including Equity Management Associates, fund both exploration and working capital needs, a prudent approach to organic growth.
What does this mean for investors? Lahontan occupies a compelling position at the intersection of geology, economics and strategic financing. The Walker Lane remains an elite mining jurisdiction with a track record of major discoveries and supporting infrastructure. The Santa Fe Mine project offers significant scale, historically proven production and low-hanging oxide mineralization that is affordable to mine and fast to develop. Meanwhile, active drilling campaigns and permit expansions derisk resource growth, with the likelihood of seeing results and an updated PEA in the near-term. The presence of additional projects such as West Santa Fe amplifies optionality, creating a portfolio play within one corporate structure. For investors seeking a junior explorer with a clear pathway toward production and multiple catalysts ahead, Lahontan stands out among its peers.
For more information, visit the company’s website at www.LahontanGoldCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to LGCXF are available in the company’s newsroom at ibn.fm/LGCXF
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