(via TheNewswire)
Vancouver, British Columbia, July 14, 2026 – TheNewswire - Lexston Mining Corporation (the “Company” or “Lexston” ) (CSE: LEXT) (OTCQB: LEXTF) (Deutsche Börse Frankfurt: L75) announces that Lexston Guyana Inc. (“Lexston Guyana”), a wholly owned subsidiary of Lexston, has entered into a letter of intent (the “LOI”) with Mr. Joseph Jardine (the “Seller”) to acquire a 100% undivided interest in 15 strategic mineral claims. The property encompasses approximately 16,000 acres located in Region 1, Mining District 5, Northwest Guyana (the “Mineral Claims”).
Jagdip Bal, CEO of Lexston Mining Corporation, 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. Joseph Jardine, the Seller and claim holder, 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% interest in the Mineral Claims for total cash consideration of US$1,100,000. The cash consideration is structured across the following milestones:
US$25,000 has been 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.
US$125,000 is payable upon receipt of all required regulatory approvals.
US$150,000 is payable ninety (90) days following receipt of all required regulatory approvals.
US$200,000 is payable as the first annual installment.
US$600,000 is payable in four consecutive annual installments of US$150,000 each , spanning the second through fifth annual payment intervals
In addition to the structured cash payments, the transaction includes the following ongoing asset and royalty provisions:
Net Smelter Royalty: The Seller will retain a two percent (2%) 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, licenses, 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 (CSE).
There can be no assurance that the proposed acquisition 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 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 www.otcmarkets.com .
On Behalf of the Board of Directors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Contact
Email: info@lexston.ca
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information in this news release includes, but is not limited to, statements regarding the proposed acquisition of a 100% undivided interest in the Mineral Claims by Lexston Guyana; the completion of due diligence and the negotiation and execution of a definitive purchase agreement; the receipt of all required governmental, regulatory, mining authority and Canadian securities exchange approvals; the timing and payment of the purchase price installments; the potential acquisition, transfer and registration of the Mineral Claims; the Seller’s retained net smelter royalty and alluvial gold rights; the Company’s plans to evaluate, advance and explore the Mineral Claims; the potential mineral prospectivity of the property; and the Company’s strategy to expand its international mineral exploration portfolio. Forward-looking information is often, but not always, identified by words such as “proposes”, “subject to”, “intends”, “expects”, “plans”, “may”, “will”, “could”, “would”, “potential”, “advance”, “evaluate”, “complete”, “obtain”, “execute” and similar expressions. Forward-looking information is based on assumptions considered reasonable by management as of the date hereof, including assumptions regarding the accuracy and completeness of information provided by the Seller, the satisfactory completion of due diligence, the ability of the parties to negotiate and execute a definitive agreement, the availability and receipt of required approvals, the validity and transferability of the Mineral Claims, the Company’s ability to fund required payments and exploration activities, the continued availability of personnel and contractors, and general business, market, commodity price and regulatory conditions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to differ materially from those expressed or implied by such information. Such risks include, among others, risks that the proposed transaction may not be completed on the terms described herein or at all; risks related to title, permitting, licensing, environmental matters and the transfer or registration of mineral claims in Guyana; risks related to foreign jurisdiction operations, political and economic conditions, regulatory changes and community or governmental approvals; risks related to mineral exploration, including the speculative nature of exploration and the absence of known resources or reserves on the Mineral Claims; risks related to financing, currency exchange rates, commodity prices, market conditions and the Company’s ability to satisfy payment obligations; and risks related to the retained net smelter royalty and alluvial gold rights. There can be no assurance that forward-looking information will prove to be accurate, and readers are cautioned not to place undue reliance on such information. The forward-looking information contained in this news release is made as of the date hereof, and the Company undertakes no obligation to update or revise such information except as required by applicable law.
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