20:24:19 EDT Tue 14 Jul 2026
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Lexston Mining Corp (2)
Symbol LEXT
Shares Issued 25,093,304
Close 2026-07-14 C$ 0.125
Market Cap C$ 3,136,663
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Lexston Guyana signs LOI for Guyana mineral claims

2026-07-14 19:07 ET - News Release

Mr. Jagdip Bal reports

LEXSTON GUYANA INC. ENTERS INTO LETTER OF INTENT TO ACQUIRE STRATEGIC GUYANA MINERAL CLAIMS

Lexston Guyana Inc., a wholly owned subsidiary of Lexston Mining Corp., has entered into a letter of intent (LOI) with Joseph Jardine to acquire a 100-per-cent undivided interest in 15 strategic mineral claims. The property encompasses approximately 16,000 acres located in region 1, mining district 5, northwestern Guyana.

Jagdip Bal, chief executive officer of Lexston Mining, commented: "Securing this exclusive option on approximately 16,000 acres in the Guiana Shield region of northwest Guyana marks an important milestone for Lexston. Subject to the completion of due diligence and the execution of a definitive agreement, this proposed acquisition aligns with our strategy to evaluate and expand our international mineral exploration portfolio."

Mr. Jardine, the seller and claimholder, added: "I am very pleased to partner with Lexston on this project. This transaction provides a clear path forward to advance exploration on these highly prospective assets by leveraging Lexston's corporate resources and management team. I look forward to working closely with them to complete the definitive agreement and unlock the true mineral potential of this region."

Subject to the terms and conditions outlined in the LOI and the finalization of a definitive purchase agreement, Lexston Guyana proposes to acquire a 100-per-cent interest in the mineral claims for total cash consideration of $1.1-million (U.S.). The cash consideration is structured across the following milestones:

  • $25,000 (U.S.) paid upon the formal signing of the LOI. This initial payment is fully refundable to the buyer if the seller chooses to terminate the agreement;
  • $125,000 (U.S.) payable upon receipt of all required regulatory approvals;
  • $150,000 (U.S.) payable 90 days following receipt of all required regulatory approvals;
  • $200,000 (U.S.) payable as the first annual instalment;
  • $600,000 (U.S.) payable in four consecutive annual instalments of $150,000 (U.S.) each, spanning the second through fifth annual payment intervals.

In addition to the structured cash payments, the transaction includes the following continuing asset and royalty provisions:

  • Net smelter royalty: The seller will retain a 2-per-cent net smelter royalty (NSR) on all future production generated from the mineral claims.
  • Alluvial gold rights: The seller will retain operational rights to the alluvial gold found on the property.

The seller has granted Lexston Guyana an exclusive 90-day period to advance the transaction. During this exclusivity window, the seller is prohibited from soliciting, encouraging, negotiating or entering into any alternative agreements or transactions regarding the disposition or encumbrance of any interest in the mineral claims.

The company will utilize this period to conduct a comprehensive due diligence review. This exploration and legal assessment will include a thorough investigation of title, licences, permits, technical information, environmental matters and any other items reasonably relevant to the asset portfolio.

Completion of the transaction remains subject to several conditions, including:

  • The satisfactory completion of Lexston Guyana's due diligence review.
  • The negotiation and formal execution of a mutually acceptable definitive purchase agreement.
  • The receipt of all mandatory governmental, regulatory and mining authority approvals within Guyana, including the transfer and registration of the claims.
  • The receipt of all Canadian regulatory approvals, including specific compliance clearances from the Canadian Securities Exchange.

There can be no assurance that the proposed acquisition will be completed on the terms described herein or at all.

About Lexston Mining Corp.

Lexston Mining is a Canadian mineral exploration company focused on the acquisition and development of mineral projects. The company's objective is to advance its mineral exploration portfolio and create value for stakeholders. Lexston currently has mineral exploration projects in British Columbia and Nevada, and is evaluating the proposed acquisition of the mineral claims in Guyana described in this news release.

The company trades on the OTCQB Venture Market under the symbol LEXTF. The OTCQB Venture Market is for early-stage and developing U.S. and international companies that are current in their reporting and complete an annual verification and management certification process. Investors can find real-time quotes and market information for the company on the OTC Markets website.

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