Toronto, Ontario--(Newsfile Corp. - October 30, 2026) - Lynx Resources Corp. (CSE: LYNX) ("Lynx" or the "Company") is pleased to announce the completion of its induced polarization ("IP") geophysical survey at the Company's Turner's Ridge Property (the "Property") in western Newfoundland, marking the conclusion of its Phase 1 exploration program.

The IP survey represents the final component of the Phase 1 program, which also included desktop data compilation, soil sampling, mechanical trenching and channel sampling. The Company has received the results of its soil sampling program and is awaiting assay results from the trenching and channel sampling program. Raw IP survey data and preliminary results have been received, while final interpretation and reporting remain outstanding.

The Phase 1 exploration program was designed to follow up on priority lead-zinc-silver targets identified through historical exploration and the Company's 2023 exploration campaign and was based on the recommendations outlined in the technical report for the Property prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). A copy of the technical report can be found under the Company's profile on SEDAR+ at www.sedarplus.ca.

Kevin Zhou, President and CEO of Lynx, commented: "The completion of our Phase 1 program represents an important step in advancing Turner's Ridge. With all Phase 1 fieldwork completed, we look forward to receiving the outstanding trenching and channel sampling assays and final IP interpretation to help guide the next stage of exploration at the Property."

Induced Polarization Geophysical Survey

The Company completed an IP and resistivity geophysical survey conducted by Simcoe Geoscience Limited ("Simcoe"), an independent geophysical contractor, using its Alpha IP™ time-domain induced polarization/resistivity system.

The survey covered approximately 3.0 line-kilometres across three survey lines, each approximately 1.0 kilometre in length and spaced approximately 200 metres apart. The survey utilized 100-metre dipole spacing and a Dipole-Pole-Dipole configuration to investigate subsurface geophysical responses to depths of approximately 300 metres.

The survey involved the acquisition of IP chargeability and DC resistivity data. The Company has received raw survey data and preliminary results, while final data interpretation and the technical report are expected in the coming weeks. The survey was undertaken to identify subsurface geophysical anomalies, evaluate potential mineralized zones and generate priority targets for follow-up exploration, including potential drilling.

The Company intends to announce material findings from the IP survey following receipt and review of the final results and interpretation.

Soil Sampling

As previously announced on August 10, 2026, August 18, 2026 and October 14, 2026, Lynx completed a systematic soil sampling program comprising 279 soil samples collected over an approximately 100 m by 25 m spaced sampling grid. Samples were submitted to Eastern Analytical Ltd. in Springdale, Newfoundland for Au 30 g fire assay and ICP-34 analysis.

Results from the soil sampling program were announced by the Company on October 14, 2026 and can be found under the Company's profile on SEDAR+.

Trenching and Channel Sampling

As previously announced on October 20, 2026, the Company completed its trenching and channel sampling program at the Property. A total of 33 samples, including six QA/QC samples, were collected and submitted to Eastern Analytical Ltd. for analysis.

Assay results remain pending and will be announced upon receipt. Further details of the program can be found in the Company's October 20, 2026 press release on SEDAR+.

With Phase 1 fieldwork now complete, the Company will focus on integrating the exploration results as the outstanding trenching and channel sampling assays and final IP interpretation become available. The Company intends to announce material findings following receipt and review.

Qualified Person
Alex Bugden, P.Geo, a Qualified Person in accordance with NI 43-101 and independent from Lynx, has reviewed and approved the technical information contained in this press release.

About Lynx Resources Corp.
Lynx is a mineral resource company engaged in the acquisition and exploration of mineral resource properties. Its principal project is the Turner's Ridge Property located in Newfoundland and Labrador, Canada, in which it holds an option to acquire a 100% undivided right, title, and interest. The Company may, from time to time, evaluate and acquire additional mineral properties of merit.

For further information about the Company, please contact:

Cautionary Statements Regarding Forward-Looking Information

Neither the Canadian Securities Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain forward-looking statements, including those relating to exploration plans, timing of exploration results, mineralization potential at the Property and the Company's future plans. These statements are based on numerous assumptions regarding the Property, the Company's exploration programs and results, and commodities prices that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation the exploration potential of the Property and the nature and style of mineralization at the Property; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and resource commodities prices; and those other risks described in the Company's continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements herein except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321703