Lahontan Engages Kappes, Cassiday And Associates For Santa Fe Preliminary Economic Assesment

TORONTO, ON / ACCESSWIRE / May 6, 2024 / Lahontan Gold Corp (TSXV:LG)(OTCQB:LGCXF) (the "Company" or "Lahontan"), is pleased to announce that it has engaged Kappes, Cassiday and Associates based in Reno, Nevada ("KCA") to produce an updated NI 43-101 compliant Technical Report and Preliminary Economic Assessment ("PEA") for its flagship Santa Fe Mine project, located in Nevada's prolific Walker Lane. KCA will lead a team including RESPEC Company LLC ("RESPEC") also based in Reno, and Equity Exploration of Vancouver, British Columbia ("Equity"). KCA will coordinate the PEA, Equity will be responsible for updating the block model and Mineral Resource Estimate, and RESPEC will provide mine design and planning. KCA will develop metallurgical flow sheets, process facility layout, and general mine infrastructure along with economic analysis.

Kimberly Ann, Lahontan Founder, CEO, President, and Director commented: "We are very pleased to have some of the top mining consultancies begin work on the Santa Fe Mine PEA. We believe that Santa Fe is one of, if not the, premier gold and silver mine development opportunity in the Great Basin of the western US. We will simultaneously continue preparing our Exploration Plan of Operations for submission to the Bureau of Land Management this Summer. Utilizing the baseline studies in the Plan, we can modify the Plan to reflect our proposed mining operation being defined by our team of consultants".

Scope of Work - Santa Fe Mine PEA

The PEA will evaluate open-pit mining from multiple sites at the Santa Fe Mine, three-stage crushing, drum agglomeration with cement, heap leaching, and a carbon ADR plant producing gold/silver doré bars:

• Plant production rate will be from 10,000 to 15,000 dry tons per day, to be optimized during the PEA process;
• Three-stage crushing with agglomeration including conveyor stacking;
• Process feed will be open pit sourced gold and silver mineralization mined by a contractor;
• Water sources will be developed from nearby well fields, electric power will be supplied from the local grid;
• The mining portions of the PEA study, including capital and operating costs, will be completed by RESPEC which KCA will review and incorporate this information into the overall PEA study;
• The heap leach pad/pond designs and associated facilities, including capital and operating costs will be developed by KCA.

The work for the PEA is expected to begin immediately, a detailed timeline will be established once all existing data has been thoroughly reviewed by the PEA team.