Management Changes

5 October 2026

Lexington Gold Ltd

(“Lexington Gold” or the “Company”)

Executive management role changes to strengthen

operational and corporate focus

Lexington Gold (AIM: LEX; OTCQB: LEXLF), the gold exploration and development company with a high-quality portfolio of projects in South Africa and the United States, is pleased to announce certain role changes in respect of its executive management team in order to broaden executive capacity and refine the division of responsibilities as it focuses on the continued advancement of its promising South African gold asset portfolio.

Mark Greenwood, previously a Non-Executive Director and a significant long term shareholder of Lexington Gold, has now assumed the role of Chief Executive Officer (“CEO”). Dr Bernard Olivier will remain as an Executive Director and has assumed the role of Chief Operating Officer. Mark and Bernard already work closely together and will continue to do so under the revised organisational structure.

Highlights:

• Mark Greenwood becomes Chief Executive Officer

Mark has significant public-company, capital-markets and business experience, including approximately 23 years in banking and stockbroking in Asia and former CEO experience at  a number of businesses, including in the natural resources sector.

• Dr Bernard Olivier to remain as an Executive Director and lead the group’s technical and operational development

Bernard will continue to lead the advancement of the Company’s promising South African gold project portfolio, with particular focus on Kroonstad and the Jelani JV Project with subsidiaries of Harmony Gold Mining Limited (“Harmony Gold”).

Revised management team organisational structure

The revised structure serves to formalise the division of responsibilities between Mark and Bernard. Bernard will retain primary responsibility for the technical and operational advancement of the Company’s asset portfolio, including the Kroonstad Project and the Jelani JV Project with Harmony Gold, while Mark will focus on the Company’s day-to-day corporate, capital markets, investor relations and business development activities, including progressing the previously announced disposal of the Company’s US assets. This will enable Bernard, based in South Africa, to concentrate on the areas where his geological skillset and project development experience can add the greatest value, while also affording him greater flexibility to pursue his other business interests.

Dr Bernard Olivier, Chief Operating Officer of Lexington Gold, commented:

“Mark’s new role as CEO strengthens Lexington Gold’s executive team and formalises a division of responsibilities that plays to our respective strengths and skillsets. Mark and I already work closely together and I look forward to continuing that close working relationship under the revised team structure.

“I will remain actively involved as an Executive Director, while focusing more intensively on advancing our technical and operational activities, particularly the Kroonstad Project and our Jelani JV Project with Harmony Gold.”

Mark Greenwood, Chief Executive Officer of Lexington Gold, commented:

“I am delighted to assume the role of CEO and to continue working closely with Bernard, Ed and the wider Lexington Gold team. Bernard and I already work in tandem, and the revised structure provides a clear and complementary division of our respective responsibilities as we continue to pursue the group’s devleopment.

“Bernard has played a central role in building and advancing Lexington Gold’s South African portfolio to date, including the Jelani JV Project, which hosts a JORC (2012) compliant Mineral Resource Estimate of approximately 6.02 million ounces of gold. His continued leadership of the technical and operational development of these assets will be important as we move forward.

“As a long term significant shareholder in Lexington Gold, my interests are completely aligned with those of our valued wider shareholder base and I look forward to contributing my experience and access to my network across the Company’s corporate, capital markets and business development activities.”

Ed Nealon, Chairman of Lexington Gold, commented:

“Lexington Gold is entering an important stage in the advancement of its South African project portfolio and the Board believes that broadening the Company’s executive capacity and formalising the division of responsibilities between Bernard and Mark is the right organisational structure for this next phase of development.

“Bernard has made a significant contribution to the development of the Company to date and, in particular, in building and advancing our South African assets. He remains an Executive Director and will continue to lead the technical and operational advancement of these projects, while having greater flexibility to also pursue his other business interests.

“Bernard and Mark already have a close working relationship which will continue. Mark’s move to the role of CEO adds complementary corporate, capital markets and business development expertise to the executive team, and I look forward to working with both of them as we progress the Company’s portfolio and continue to demonstrate the quality and value of the Company’s assets, including the Jelani JV Project with Harmony Gold.”

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:

Further information on Lexington Gold is available on the Company’s website at: 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.