Mr. Carl Ginn reports

LUX METALS UPSIZES PRIVATE PLACEMENT TO $4,000,000

Lux Metals Corp., further to its news releases dated Dec. 10, 2025, and Dec. 23, 2025, has increased the size of its previously announced private placement from up to 17.5 million units of the company to up to 20 million units at a price of 20 cents per unit for total gross proceeds of up to $4-million.

Each unit will consist of one common share and one transferable share purchase warrant, each warrant exercisable into one additional share for a period of two years from date of issue at a price of 40 cents per share.

The gross proceeds from the issuance of the units will be used for exploration costs and general working capital.

The company may pay finders' fees comprising cash and/or non-transferable warrants in connection with the placement, pursuant to the policies of the TSX Venture Exchange and applicable securities laws. The company anticipates closing of the placement (in one or more tranches) as soon as practicable subject to receipt of all necessary regulatory approvals, including the approval of the TSX-V. All securities issued under the placement will be subject to applicable regulatory holds expiring four months and one day from date of issue.

We seek Safe Harbor.