REG - Lexington Gold Ltd - Operational Update

Lexington GoldAnnouncement

18/08/2025 07:00

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RNS Number : 6824V  Lexington Gold Limited  18 August 2025

18 August 2025

Lexington Gold Ltd

("Lexington Gold" or the "Company")

 

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.

 

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

 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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