Assay results from Jennings-Pioneer Project

17 September 2025

Lexington Gold Ltd

("Lexington Gold" or the "Company")

Barite Hill drilling extends gold zones and maiden gold intersections on the

Jennings Trend at the Jennings-Pioneer Project, South Carolina, USA

Lexington Gold (AIM: LEX | OTCQB: LEXLF), the gold exploration and development company with projects in South Africa and the USA, is pleased to announce highly encouraging assay results from its latest diamond core drilling programme at the Jennings-Pioneer Project in South Carolina, USA.

Highlights:

Six drill holes (599m) were completed and assayed:

·    Barite Hill Trend:

o  Step-out drilling has extended mineralisation within the licence area, with the Red Hill Zone now confirmed over 150m and the Middle Zone over 75m in strike length.

o  Both zones remain open to the north-east and down plunge.

o  Notable intersections include:

§ Hole JP25-4: 31m at 1.00 g/t Au from 142m to 173m, including 6m at 2.14 g/t Au.

§ Hole JP25-4: 8m at 2.27 g/t Au from 64m to 72m.

§ Hole JP25-5: 6m at 1.09 g/t Au from 44m to 50m.

·      Jennings Trend:

o  Maiden drilling has achieved first-ever gold intersections, including 2m at 1.10 g/t Au (Hole JP25-6) and 2m at 0.94 g/t Au (Hole JP25-9).

o  These intersections, located adjacent to historical Pioneer Mine shafts, represent a new gold trend discovery and confirm Jennings as a second mineralised trend warranting follow-up drilling.

·   Multi-element assays have confirmed the presence of silver, copper, zinc and tellurium as potential by-products, with intersections including:

o  Hole JP25-5: 8m at 14.41 g/t Ag and 50.00 g/t Te.

o  Hole JP25-4: 4m at 15.05 g/t Ag, 0.39% Cu and 1.49% Zn.

Bernard Olivier, CEO of Lexington Gold, commented:

"These latest results are highly encouraging and further demonstrate the strong growth potential of the Jennings-Pioneer Project. At Barite Hill, step-out drilling has extended both the Red Hill and Middle Zones, which remain open along strike and at depth. This confirms the continuity of gold mineralisation along this historic trend and includes substantial shallow intersections grading above 2 g/t.

"Equally exciting is the maiden gold discovery at the Jennings Trend, where our first drill holes have delivered tangible gold intersections consistent with historical mine workings. Jennings is now emerging as a brand-new gold-bearing trend for Lexington Gold, significantly enhancing the scale and potential of the project alongside Barite Hill.

"In addition, the recovery of silver, copper, zinc and tellurium underscores the polymetallic upside of the system. Together, these results provide a robust platform for the next phase of drilling as we continue to advance this highly prospective project for the benefit of our shareholders and wider stakeholders."

Operational Update

The Spring 2025 drill programme comprised six diamond drill holes (599m) across both the Barite Hill and Jennings Trends (see Figure 1). In addition, a short 20m pre-collar (Hole JP25-6a) was drilled but not assayed due to poor recovery. The programme targeted extensions of the Barite Hill Trend adjacent to the historical 1990s Barite Hill open pit (see Figure 2) and involved maiden drilling at the Jennings Trend in the vicinity of the historical Pioneer Mine shafts.

All six assayed holes intercepted zones displaying alteration-mineralisation textures associated with gold, silver and base metals, including broad silica-sericite alteration with intervals of massive to semi-massive sulphides and quartz-barite-sulphide veins. These mineralisation styles are interpreted to represent both a volcanic-hosted massive sulphide polymetallic system (foliation-parallel sulphides - see Figure 3) and a gold-silver epithermal system (quartz-barite-sulphide veining - see Figures 4 and F5).

Barite Hill Trend:

·      Hole JP25-4 intersected two lenses at Red Hill: 5m @ 0.95 g/t Au from 15m and 8m @ 2.27 g/t Au from 64m. JP25-5 returned 6m @ 1.09 g/t Au from 44m. Together, these intercepts have confirmed and extended the strike length of the Red Hill Zone to over 150m within the project area.

·      The zone remains open to the north-east and down plunge.

·      Hole JP25-4 also intercepted the Middle Zone with 31m @ 1.00 g/t Au from 142m (including 6m @ 2.14 g/t Au), extending the strike length of the Middle Zone to over 75m within the project area.

·      The Middle Zone remains open to the north-east and down plunge.

Jennings Trend:

·      Maiden drilling has delivered the first-ever gold intersections, including 2m @ 1.10 g/t Au (Hole JP25-6) and 2m @ 0.94 g/t Au (Hole JP25-9).

·      These intersections re adjacent to the historical Pioneer Mine shafts and validate Jennings as a new gold-bearing trend. Combined with the observed alteration and sulphide mineralisation, the results confirm Jennings as a significant new discovery.

·      Assay results from preliminary holes JP25-6, JP25-7, JP25-8 and JP25-9 confirm the presence of highly anomalous gold, marking an important step in the progression of exploration at Jennings. Additional drilling is warranted to test the historical mine workings along strike and at depth.

The assay results confirm and extend known mineralisation at Barite Hill while delivering a new discovery at Jennings.

Figure 1: Plan view map of the Spring 2025 Jennings-Pioneer Project core drill programme with LiDAR and historical and recent drill traces coloured by gold assay grade in grams per tonne. Bold grey ovals are the approximate bounds of exploration potential on the Barite Hill and Jennings Trends as indicated by aerial VTEM, the distribution of historical workings and soil geochemistry.

Figure 2: Oblique view of the Barite Hill Trend with recent gold intercept traces and historical drill hole traces. Also depicted here are the historical Barite Hill open pit gold mine contours, a surface topography, Jennings-Pioneer project margins, and the recent implicit models of 0.50 g/t Au and 1.00 g/t Au grade shells.

Figure 3: 0.17m segment of half NQ core from Hole JP25-4 - 194.73m to 194.90m displaying foliation parallel sulphides found at the base of the Middle Zone of the Barite Hill Trend.

Figure 4: 0.14m segment of half NQ core from Hole JP25-4 - 166.86m to 167.00m displaying a quartz-barite-sulphide vein from the Middle Zone of the Barite Hill Trend.

Figure 5: 0.11m segment of half NQ core from Hole JP25-6 - 56.44m to 56.55m displaying a quartz-barite-sulphide vein near the Brown shaft of the Pioneer Mine Site on the Jennings Trend.

Table 1: Jennings-Pioneer Project Spring 2025 core drill programme collar information.

Table 2: Jennings-Pioneer Project Spring 2025 drill core gold assay intercepts table. Gold intercepts are based on two metre composites followed by fire assay analysis at ALS Laboratories in North America.

Table 3: Jennings-Pioneer Project Spring 2025 drill core silver, copper, tellurium and zinc intercepts table. Multi-element intercepts are based on four metre composites followed by ICP-MS and ICP-AES analytical methods at ALS Laboratories in North America.

Competent Person's Statement

The information contained in this announcement that relates to exploration activities and associated assay results 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 or follow us through our social media channel: X : @LexGoldLtd.

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.