Lexston Mining Corporation Announces Drafting of Definitive Agreement Regarding Proposed Acquisition of Mineral Claims In Guyana

About this update from Lexston Mining Corporation

(via TheNewswire) Vancouver, British Columbia – TheNewswire - July 20, 2026. Lexston Mining Corporation (the “Company” or “Lexston”) (CSE: LEXT) (OTCQB: LEXTF) (Deutsche Börse Frankfurt: L75) is pleased to announce that, following the execution of its letter of intent announced on July 14, 2026, the Company’s wholly owned subsidiary, Lexston Guyana Inc., has commenced drafting a definitive purchase agreement (the “Definitive Agreement”) with claim‑holder Joseph Jardine (the “Seller”). The Definitive Agreement is intended to set out the terms for Lexston to acquire a 100% interest in 15 mineral claims, encompassing approximately 16,000 acres located in Region 1, Mining District 5, in the northwest region of Guyana. Jag Bal, CEO of Lexston, stated: “We have commenced work on the Definitive Agreement as our team evaluates these prospective claims in the Guiana Shield. We look forward to working collaboratively with Mr. Jardine to finalize the formal terms. Consideration and Milestones (US$1.1 million) LOI deposit: US$25,000 has been advanced (refundable if the Seller terminates early).  Approvals payment: US$125,000 payable upon receipt of all required regulatory approvals.  90‑day post‑approval payment: US$150,000 payable 90 days following receipt of all required regulatory approval  Year 1 installment: US$200,000 as the first annual installment.  Years 2–5 installments: US$600,000 in four consecutive annual installments of US$150,000 each.  Retained Royalty and Rights Net smelter royalty: The Seller will retain a 2% net smelter royalty on any future commercial production from the mineral claims.  Alluvial gold rights: The Seller will maintain distinct operational rights to independent surface alluvial gold harvesting on the property.  The contemplated transaction remains subject to the parties agreeing on and executing the Definitive Agreement and to receipt of all required approvals. There can be no assurance that the transaction will be completed on the terms described herein or at all. About Lexston Mining Corporation Lexston Mining Corporation 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 Colu...

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