LEX Lexington Gold Ltd

28 October 2024

Lexington Gold Ltd

("Lexington Gold" or the "Company")

Appointment of Shango Solutions to establish a JORC (2012) Exploration Target for the Bothaville Project

The appointment will also focus on conducting a review of historical data for certain of the Company's South African gold assets.

Lexington Gold (AIM: LEX), the gold exploration and development company with projects in South Africa and the USA, has appointed Dunrose Trading 186 Pty Ltd (trading as Shango Solutions ("Shango")), to review all historical exploration undertaken on certain of Lexington Gold's 74% owned White River Exploration's (WRE) South African projects with a view to updating and consolidating the historical exploration data. Shango will also produce a maiden Exploration Target estimation in accordance with the Joint Ore Reserve Committee guidelines ("JORC 2012") for the Bothaville Project (Free State Province, South Africa).

Shango has been appointed to review, model and establish a JORC (2012) Exploration Target for the Bothaville Project following the Company's recent round of drilling at Bothaville, as well as conduct a review and update on the Ventersburg, Kroonstad and Klerksdorp projects, utilising the abundance of historical exploration data on the WRE projects, much of which Lexington Gold has already been analysing, modelling and reviewing internally throughout 2024. The JORC 2012 Exploration Target report as well as the various project review reports are all expected to be completed during Q4 2024.

Shango is a prominent South African-based geological consultancy firm that has provided technical services to various major international mining houses including, BHP Billiton, RioTinto, Barrick, Harmony and GoldOne. For more information, please visit their website at: www.shango.co.za

Ed Nealon, Lexington's Chairman commented: "With the gold price now exceeding $2,700/oz, Lexington Gold is well-positioned with its gold assets in both South Africa and the USA. The rising gold price, coupled with a favourable long-term outlook, significantly enhances the economic prospects of our projects. We are also encouraged by the growing interest in our gold assets from multinational gold mining companies. We will keep shareholders updated on the progress made by Shango regarding the JORC (2012) Exploration Target for the Bothaville Project and other developments."

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Note to Editors:

Lexington Gold (AIM: LEX) 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 (formerly known as Twitter): @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.