Lahontan Launches 2022 Exploration Campaign at Moho

TORONTO, June 14, 2022 - Lahontan Gold Corp. (TSX.V:LG) (formerly, 1246765 B.C. Ltd.) (the "Company" or "Lahontan") is pleased to announce that it has begun its 2022 exploration program at its high-grade Moho Project located in Nevada's prolific Walker Lane. Previous exploration at the 9.2 km² Moho Project includes almost 2,000 metres of core drilling in 2018, over 370 underground and surface rock-chip and channel samples, and a project-wide ground magnetic survey. Highlights from the 2018 core drilling campaign conducted by KA Gold LLC include:

• Drill hole MOH-002C: 1.4 metres grading 12.8 gpt Au, 312 gpt Ag, 10.2% Pb (20.7 gpt Au Eq), (150.0 - 151.4 metres down-hole).
• Drill hole MOH-005C: 1.2 metres grading 9.6 gpt Au and 4.1 gpt Ag (75.6 - 75.8 metres down-hole).
• Drill hole MOH-006C: 0.4 metres grading 6.2 gpt Au, 123 gpt Ag, 3.9% Pb (9.2 gpt Au Eq), (154.9 - 155.3 metres down-hole).

Note: The drill holes referenced above were drilled at an angle to the structure, therefore the intervals represent approximate true width. Au Eq equals (Au (gpt) + (Ag gpt/75)) plus (% Pb * 0.36 gpt Au). Metallurgical recovery has not been factored as insufficient test-work is available to determine potential Ag and Pb recoveries.

The Moho Project explores a series of en-echelon, parallel, precious and base metal vein systems that are exposed over a strike length in excess of 2,500 metres, drilling to date is very shallow. Based on drilling and underground sampling, the Moho system remains unconstrained. The focus of this phase of the 2022 exploration is to complete a detailed structural interpretation of the Moho vein system to guide 2022 drilling later this year.

Kimberly Ann, CEO, President, Director, and Founder of Lahontan commented: "We are excited to begin our 2022 exploration program at Moho. We have had incredible results at our flagship Santa Fe Project this year, however the Company is fortunate to have multiple high quality Nevada exploration assets. Moho is the most underexplored high-grade vein camp in the Walker Lane. Prior to the 2018 drilling program by KA Gold, there had been no significant exploration in the district despite an impressive history of high-grade precious metal production. Given the strike length of the multiple parallel veins, the vertical range of precious metal mineralization, and the scant shallow drilling to date, Lahontan views Moho as an exploration asset with considerable upside and we look forward to drilling at Moho later this year".

About Lahontan Gold Corp:

Lahontan Gold Corp. (TSX.V:LG) is a Canadian mineral exploration company that holds, through its US subsidiaries, three top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 19 km² Santa Fe Project, is a past producing gold and silver mine with excellent potential to host significant gold and silver resources (past production of 375,000 ounces of gold and 710,000 ounces of silver between 1988 and 1992; Nevada Bureau of Mines and Geology, 1996). Modeling of over 110,000 metres of historic drilling, geologic mapping, and geochemical sampling outline both shallow, oxidized gold and silver mineralization as well as deeper high grade potential resources. The Company is completing an aggressive 25,000 metre drilling program with the goal of publishing a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate in 2022. For more information, please visit our website: www.lahontangoldcorp.com

All scientific and technical information in this press release has been reviewed and approved by Quentin J. Browne, P.Geo., Consulting Geologist to Lahontan Gold Corp., who is a qualified person under the definitions established by National Instrument 43-101.

On behalf of the Board of Directors

Kimberly Ann
Founder, Chief Executive Officer, President, and Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com

Cautionary Note Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com

SOURCE: Lahontan Gold Corp.