Mr. Carl Ginn reports

LUX METALS CLOSES $3,750,000 FIRST TRANCHE PRIVATE PLACEMENT

Lux Metals Corp. has closed the first tranche of its previously announced non-brokered private placement of units through the issuance of 18.75 million units at a price of 20 cents per unit for total gross proceeds of $3.75-million. Each unit consists of one common share and one transferable share purchase warrant, with each warrant exercisable into one additional common share at a price of 40 cents per share until Jan. 26, 2028.

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

In connection with the placement, the company paid finders' fees of $119,840 and issued a total of 599,200 common share purchase warrants to finders. Each finder warrant is exercisable into one common share of the company at a price of 40 cents per share until Jan. 26, 2028. All securities issued under the placement are subject to applicable regulatory holds expiring May 27, 2026.

We seek Safe Harbor.