New Prospecting Right Granted at Bothaville

7 July 2025

Lexington Gold Ltd

("Lexington Gold" or the "Company")

New Prospecting Right Granted - Bothaville Project, South Africa

Lexington Gold (AIM: LEX; OTCQB: LEXLF), the gold exploration and development company with projects in South Africa and the USA, is pleased to announce that its South African subsidiary, Reef Exploration (Pty) Ltd ("Reef Exploration"), has been granted a new consolidated Prospecting Right in respect of the group's Bothaville Project, located in the Free State Province, South Africa.

Highlights:

·    The new Prospecting Right (Ref: FS 30/5/1/1/2/10695 PR), has been granted to Reef Exploration by the South African Department of Mineral and Petroleum Resources (DMPR) for a period of approximately 5 years, being valid until 7 May 2030, and will then be renewable for another 3 years.

·    This new right consolidates and supersedes the previous Bothaville licences formerly held by White Rivers Exploration (Pty) Ltd, thereby streamlining the Company's tenure and permitting structure.

·    A maiden JORC (2012) Exploration Target was established in 2025 over the licence area concerned, comprising 16 - 30 million tonnes at a grade of 3.26 - 6.03 g/t Au, representing a potential 1.68 - 5.82 million ounces of contained gold.

·    The new consolidated right covers an area of 18,627.2 hectares, encompassing the same acreage previously held under the two separate Bothaville licences, and is situated within the world-renowned Witwatersrand Basin, one of the most prolific gold-producing regions globally.

Dr Bernard Olivier, CEO of Lexington Gold, commented:

"We are pleased to confirm this formal grant of a new consolidated Prospecting Right for the Bothaville Project to our South African subsidiary, Reef Exploration. This represents an important milestone in retaining and advancing this high potential gold exploration asset which has an existing JORC-compliant Exploration Target of up to 5.82 million ounces as established in early 2025."

Additional Information

JORC Exploration Target

In January 2025, Lexington Gold announced a maiden JORC (2012) Exploration Target for the Bothaville Project, independently prepared by Shango Solutions, of:

·      16 - 30 million tonnes grading between 3.26 - 6.03 g/t Au, equating to a potential 1.68 - 5.82 million ounces of gold across the A and B Reefs.

·      The A Reef alone has been estimated to contain up to 3.79Moz, with drilling confirming strong continuity and mineralisation within a NW-SE trending Kimberley Formation channel structure.

·      The exploration target complies with the 2012 JORC Code and is supported by recent drilling campaigns, advanced 3D geological modelling and validated historical data.

Figure 1: New Bothaville Consolidated Prospecting Right locality map.

Competent Person's Statement

The information contained in this announcement that relates to exploration activities is based upon information compiled by Edward Nealon, Chairman of Lexington Gold. Mr Nealon is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Nealon consents to the inclusion in this announcement of the matters based upon the information in the form and context in which it appears.

For further information, please contact:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

Note to Editors:

Lexington Gold (AIM: LEX; OTCQB: LEXLF) is a gold exploration and development company currently holding interests in four diverse gold projects, covering a combined area of approximately 1,675 acres in North and South Carolina, USA and in six gold projects covering approximately 114,638 hectares in South Africa.

Further information is available on the Company's website: www.lexingtongold.co.uk. Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.