Operational Update

Lexington Gold (AIM: LEX; OTCQB: LEXLF), the gold exploration and development company with projects in South Africa and the USA, provides the following update in respect of anticipated timings for receipt of the Jelani Resources JV's conceptual study and assay results for the Jennings-Pioneer project.

Jelani Resources JV Project ("Jelani Resources"), South Africa - Bara Consulting's Conceptual Study

Further to the Company's announcement of 17 March 2025, the scope of the Jelani Resources conceptual-level study with Bara Consulting (Pty) Ltd ("Bara") has now been expanded beyond its original scope in order to provide a more detailed and robust evaluation of the project.

The enhanced scope now encompasses a more comprehensive validation of the proposed mining approach, broader assessment of the available infrastructure and capacity, a refined preliminary mine design and scheduling, as well as deeper high-level capex and opex modelling, including associated cash flow analysis.

This additional scope of work means that the study will now take longer than initially anticipated but is expected to deliver a significantly more comprehensive and value-enhancing blueprint for the project's future development. Lexington Gold continues to collaborate closely with Bara and Harmony Gold Mining Company Limited ("Harmony Gold"), our JV partner, to complete the expanded work streams and ensure robust technical and economic validation.

Upon completion, the study's results will be presented to the Jelani Resources' board, including Harmony Gold, for review and strategic analysis. Following such assessment, the Jelani Resources board will determine whether to advance with a Mining Licence application. A further update(s) will be provided in due course.

Jennings-Pioneer Project, USA - Assay Results

As announced on 1 July 2025, the diamond drilling programme at Jennings-Pioneer was successfully completed, comprising six diamond drill holes totalling approximately 600 metres across the Barite Hill and Jennings trends.

Visual core logging identified alteration and mineralisation textures consistent with epithermal gold-silver and associated base-metal systems. Notably, over 200 metres of core from all six holes exhibited prominent alteration-mineralisation features.

Core cutting and sampling commenced immediately following the programme's completion. Based on the updated laboratory schedule, assay results are now expected to be received by early September 2025.