REG - Lexington Gold Ltd - New Prospecting Right Granted at Bothaville

Lexington GoldAnnouncement

07/07/2025 07:00

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RNS Number : 8936P  Lexington Gold Limited  07 July 2025

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:

 

 Lexington Gold Ltd                                      www.lexingtongold.co.uk (http://www.lexingtongold.co.uk)

 Bernard Olivier (Chief Executive Officer)               via Yellow Jersey

 Edward Nealon (Chairman)

 Mike Allardice (Group Company Secretary)

 Strand Hanson Limited (Nominated Adviser)               www.strandhanson.co.uk (http://www.strandhanson.co.uk)

 Matthew Chandler / James Bellman / Abigail Wennington   T: +44 207 409 3494

 Optiva Securities Limited (Joint Broker)                www.optivasecurities.com (http://www.optivasecurities.com)
 Bartu Ciftci / Christian Dennis                         T: +44 203 981 4178

 Peterhouse Capital Limited (Joint Broker)               www.peterhousecap.com (https://peterhousecap.com/)

 Duncan Vasey / Lucy Williams (Broking)                  T: +44 207 469 0930

 Eran Zucker (Corporate Finance)

 Yellow Jersey PR Limited (Financial Public Relations)   www.yellowjerseypr.com (http://www.yellowjerseypr.com)

 Charles Goodwin / Annabelle Wills                       T: +44 7747 788 221

 

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 (http://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.

 

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