Lux Metals Completes Surface Exploration Program at La Grande Gold Project

Widespread sulphide mineralization identified as 100 rock samples and 55 soil samples collected across central and eastern portions of the 40-kilometre La Grande trend

Vancouver, British Columbia--(Newsfile Corp. - June 25, 2026) - Lux Metals Corp. (TSXV: LXM) ("Lux" or the "Company") is pleased to announce the completion of its 2026 surface exploration program at the La Grande Gold Project ("La Grande" or the "Project") in Québec's James Bay region. Field crews from Dahrouge operated on the Project from June 1 to June 15, 2026, completing a program of geological mapping, structural analysis, and systematic rock and soil sampling across the central and eastern portions of the Project, which have seen limited historical exploration.

Highlights

• Two-week field program completed across portions of the 40 km greenstone trend at La Grande that have seen limited historical exploration

• 100 rock samples collected from quartz veins, felsic intrusives, basalts, and sulphide-bearing shear zones, plus 55 soil samples across 9 lines in areas of limited bedrock exposure

• All samples submitted to AGAT Laboratories for gold and multi-element analysis; results pending

• Two quartz vein families identified; foliation-parallel veins more mineralized than perpendicular (E-W) veins, with pyrite, chalcopyrite, arsenopyrite, and tourmaline observed

• Orezone showing confirmed as a structurally complex fold zone with abundant rusty and mineralized outcrop; area recommended for further detailed mapping

• Field data to be used to refine targets for the initial 5,000-metre diamond drilling campaign at Zone 32, anticipated in Q3 2026

"Zone 32 has shown us what this corridor is capable of, and the rest of the trend has seen very little modern work," commented Carl Ginn, CEO of Lux Metals. "Two weeks of mapping and sampling gave us the first analytical data from these areas. With assays pending, we will go into our drill program at Zone 32 with a stronger picture of the broader system."

Field Exploration Program 2026

The surface program is the first stage of the Company's 2026 exploration plan, announced May 26, 2026, and was designed to expand known mineralized zones and identify new targets along the 40-kilometre La Grande corridor. The Zone 32 gold system accounts for approximately two kilometres of this trend. Data collected will be integrated with historical datasets to refine targets ahead of an initial 5,000-metre diamond drilling campaign at Zone 32, anticipated in Q3 2026.

Figure 1: La Grande Gold Project claims map showing 2026 vein, alteration, and shear zone sample locations along the La Grande trend, with the Zone 32, Orezone, and Orage target areas and the Transtaiga road.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11776/302841_a0dc88df04988a2e_001full.jpg

During the program, 100 rock samples were collected across 19 traverses from quartz veins, felsic intrusives (tonalite, diorite), basalts, and shear zones (Figures 1, 2 and 3). Field crews identified two families of quartz veins: one oriented parallel to the regional foliation and one perpendicular (E-W trending). The foliation-parallel veins were generally more mineralized, with 17 of 33 vein samples containing visible sulphides, predominantly pyrite, with arsenopyrite and chalcopyrite also observed. Five vein samples contained tourmaline, and one carried malachite, a copper indicator mineral. Visible mineralization was most prevalent in basalt-hosted settings, where 17 of 21 samples were mineralized.

Figure 2: Quartz-carbonate veinlets within altered basalt. Veins and alteration can contain pyrite with trace chalcopyrite and arsenopyrite. Sample G240035.

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In the tonalite, mineralized veins were concentrated within small shear zones in areas of increasing deformation. Further north, mafic rock bands ranging from tens of centimetres to 2 to 3 metres thick run parallel to the foliation and frequently host rusty and mineralized veins. All samples have been submitted for analysis, and results will be reported once received, reviewed, and verified by the Company.

At the Orezone showing, field crews observed a folded zone with tonalite in the core and basalt on the limbs, with deformation intensity increasing in basalts to the southeast. One tonalite sample near the showing contained 1 to 5% malachite associated with an epidote-quartz vein. While most historical trenches were flooded, abundant outcrop remains visible along with numerous rusty and mineralized zones, and the area has been recommended for further detailed mapping.

In areas of limited bedrock exposure, the Company also completed a soil sampling program, collecting 55 samples across 9 lines in the central to eastern part of the property. Metals dispersed into the soil from underlying bedrock can outline buried mineralization that cannot be sampled directly, allowing the Company to evaluate geochemical patterns and generate additional exploration targets beneath covered ground.

Figure 3: View of a very rusty sheared tonalite with pyrite and arsenopyrite. Orezone Area. Sample G240039.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11776/302841_luximg3.jpg

Next Steps:

• Assays to be received from June 2026 field program within 3-4 weeks

• Review, interpret and integrate geochemistry with historical datasets

• Refine drill targets and finalize preparations for 5,000 m drill program at Zone 32 to be executed in Q3 2026

The presence of visible sulphides, alteration, or structural features observed in the field does not necessarily indicate the presence of gold mineralization. These observations are geological indicators only and should not be considered representative of mineral grades or economic potential. Analytical results are pending.

Qualified Person
The technical content of this news release has been reviewed and approved by Jonathan Marleau, P.Geo., Senior Geologist at Dahrouge Geological Consulting Ltd., an independent consultant of the Company, and a Qualified Person pursuant to National Instrument 43-101.

About Lux Metals Corp.
Lux Metals Corp. (TSXV: LXM) is a Canadian mineral exploration company focused on advancing its flagship La Grande Gold Project in Québec's James Bay region. The Project hosts the high-grade Zone 32 gold system with extensive historic drilling, year-round infrastructure access, and district-scale exploration potential. For more information, visit www.lux-metals.com.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things: statements relating to the Company's planned exploration activities at the Project, including diamond drilling, field mapping, geophysical surveys, and anticipated exploration strategies; and statements relating to the timing, scope, and expected results of the 2026 exploration program.

Such forward-looking statements are based on a number of assumptions of the management of the Company, including, without limitation: that the Company will be able to complete planned exploration activities as anticipated; that weather, logistical, and other conditions will permit the timely execution of fieldwork and drilling; that the Company will continue to have sufficient funding to carry out its exploration programs; and that the results of exploration activities will be consistent with management's expectations.

Additionally, forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: risks inherent in the exploration and development of mineral properties; that exploration results may not be consistent with historical results or management's expectations; fluctuations in commodity prices; market conditions; regulatory decisions; the inability to obtain necessary permits, financing, or personnel; and changes in legislation, political instability, or general market conditions.

Such forward-looking information represents the best judgment of the management of the Company based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.

Grab samples are selective by nature and may not be representative of the mineralization hosted on the property. Historic drill results referenced in this news release were generated by previous operators of the property. The independent qualified person, Mr. Martin Aucoin, M.Sc., P.Geo., conducted a site visit on January 6 and 7, 2026, during which he inspected drill core from a representative subset of mineralized intervals and confirmed that the inspected widths and depths are consistent with the drill hole database. The qualified person considers the drilling database to be internally consistent and generally reliable, though QA/QC documentation prior to 2003 is incomplete. Reported lengths are downhole (core) lengths; true widths have not been determined.

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