Intention to Co-operate with Gold One Africa

Lexington Gold (AIM: LEX), a gold exploration and development company with projects in South Africa and the USA, is pleased to announce that the Company and its BBBEE partner, Letsema Holdings (Proprietary) Limited ("Letsema"), have entered into an Intention to Co-operate Agreement (the "Agreement") with Gold One Africa Limited ("Gold One Africa"). Pursuant to the Agreement, the parties will seek to explore potential collaboration opportunities to enhance the financial viability and operation of certain of their respective gold projects in South Africa.

Gold One Africa, a subsidiary of Gold One Group Limited, holds a Mining Right in Ventersburg, Virginia and Henneman in the Free State Province, South Africa, covering approximately 13,837 hectares, whilst Lexington Gold, through its 74% ownership of White Rivers Exploration (Proprietary) Limited, inter alia, holds prospecting rights adjacent to such mining right, covering a total area of approximately 19,633 hectares. The planned collaboration will focus on exploring potential opportunities for shared infrastructure, management expertise, capital raising and economies of scale, with the aim of ultimately establishing and developing a world-class gold deposit in the region. Should discussions progress positively, areas identified for cooperation will be formalised by way of a definitive agreement(s) in due course.

Ed Nealon, Chairman of Lexington Gold, commented:

"This Agreement represents a potentially significant step forward in progressing our South African gold assets. Gold One Africa, with its proven track record and expertise in advancing projects from exploration to production, as exemplified by its success at the Modder East gold mine, is an ideal partner.

"We believe this planned collaboration has the potential to unlock considerable value for all concerned, leveraging our combined strengths to seek to create a world-class gold resource in the Ventersburg region. We look forward to continuing our discussions and exploring the opportunities for mutual benefit and will provide updates as appropriate in due course."