Mr. Jag Bal reports

ISSUANCE OF COMMON SHARES PURSUANT TO THE OPTION AGREEMENT FOR URANIUM PROJECT 176 AND URANIUM PROJECT ITZA IN NUNAVUT

Lexston Mining Corp., further to its news release dated Nov. 27, 2023, has issued one million common shares and made a $90,000 payment pursuant to the Project 176 and Project Itza option agreement dated Nov. 27, 2023. The common shares issued pursuant to the agreement are subject to a four-month-and-one-day statutory hold period.

Jag Bal, president and chief executive officer of Lexston, states: "This acquisition in the Thelon basin represents a good opportunity in a uranium-rich basin that has similar potential to the Athabasca basin. Historical data shows the potential for high-grade uranium deposits in the region and has triggered a staking rush at the basin, with other companies including Atha Energy active in the region."

Project 176 -- 1,708 hectares/17 square kilometres

Located in the northeastern portion of the Thelon basin 176 is within the most prospective region of the Thelon basin that contains the highest-grade uranium sample -- 380,000 parts per million uranium.

Project 176 was previously owned and explored by NexGen Energy which purchased the project from Mega Uranium in 2012.

Project Itza -- 3,955 ha/39.6 square km

Located in the northeastern portion of the Thelon Basin Itza was identified before the staking rush took place and is within the most prospective region of the Thelon basin that contains the high-grade uranium oxide samples.

At least three radioactive boulder trains are located, and the source is yet to be tested. Project Itza sits at the mapped unconformity between the Thelon formation and the underlying Amer Lake metasediments. It contains reactivated faults identified in 2013 -- not identified when the properties were last explored (2012). The intersection of reactivated faults and unconformities is highly prospective for uranium deposits, such as Cigar Lake, Key Lake. Multiple radioactive boulders were measured, including a 10,400 ppm uranium/1.27 per cent uranium oxide.

About Lexston Mining Corp.

The company is a Canadian mineral exploration company, focused on the acquisition and development of mineral projects, with the objective to enhance value to all its stakeholders. The company has a mineral exploration project in British Columbia, Canada.

The technical information contained in this news release has been reviewed by Richard Walker, a director of the company and a certified professional geologist with the American Institute of Professional Geologists and a member of the Geological Society of Nevada, a qualified person for the company as defined in National Instrument 43-101.

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