Memorandum of Understanding Regarding Option to Acquire Garfield Hills Property in Nevada
929 Mainland Street
Vancouver, BC V6B 1S3
Phone
Website
(604) 928-8913
www.lexston.ca
News Release
Memorandum of Understanding Regarding Option to Acquire Garfield Hills Property in Nevada
Vancouver, British Columbia, November 12, 2025. Lexston Mining Corporation (the “Company” or
“Lexston”) (CSE: LEXT) (OTCQB: LEXTF) (Frankfurt: W5G) announces the memorandum of understanding
regarding an option to acquire 128 mineral claims located in Mineral County, Nevada, USA, known as the
Garfield Hills Property (the “Garfield Property”).
The Company signed the memora ndum of understanding with 2730573 Alberta Ltd., an Alberta
corporation, and Imperium Mine Supply Corp. (a Nevada company and a subsidiary of 2730573 Alberta
Ltd.) with respect to a proposed assignment of the Option To Acquire the Garfield Hills Property Term
Sheet between 2730573 Alberta Ltd. and three indi vidual optionors dated August 31, 2025 (the “Term
Sheet”) and the Definitive Option Agreement between Imperium Mine Supply Corp. and three individual
optionors effective as of October 22, 2025 (the “Option Agreement”).
“The northern and eastern flank of the Garfield Property subject to the MOU, is contiguous with the
Garfield Property owned by Guardian Metals Resources Plc. ( “Guardian”). Guardian has reported (news
release dated November 3, 2025) high-grade gold, silver and copp er mineralization on its Garfield
Property. Subject to entering into a binding option assignment agreement, the Company plans on
investigating the projected extensions of all the zones reported by Guardian”, states Jag Bal, CEO of the
Company.
Pursuant to the memorandum of understanding (the “MOU”), the parties agreed to work towards
finalizing and entering into a definitive assignment agreement (the “Assignment Agreement”). Pursuant
to the MOU the Company has until November 30, 2025, to complete due diligence with respect to the
Garfield Property. If satisfied with the due diligence, the Company will enter into the Assignment
Agreement and as consideration for the assign ment, will pay $45,000 and will issue 1,600,000 shares to
2730573 Alberta Ltd. The Company will assume the rights and obligations of 2730573 Alberta Ltd. under
the Term Sheet and of Imperium Mine Supply Corp. under the Option Agreement.
To earn 100% interest in the Garfield Property, the Option Agreement requires making cash payments in
the amount of $130,000 and issuance of shares valued at $90,000 for the total consideration of $220,000
to three optionors as follows:
1) within six months from August 31, 2025, $10,000 payable in cash and $15,000 in shares;
2) within 12 months from August 31, 2025, $25,000 payable in cash and $20,000 in shares;
3) within 24 months from August 31, 2025, $40,000 payable in cash and $25,000 in shares; and
4) within 36 months from August 31, 2025, $55,000 payable in cash and $30,000 in shares.
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Pursuant to the Option Agreement, the optionors have a right to receive 1.5% of net smelter returns on
all mineral products produced from all claims compri sing the Garfield Property. The Company will have
the right to repurchase 1.0% of the 1.5% net smelter returns for a one-time payment of $150,000.
The Assignment Agreement will be subject to the acceptance by the Canadian Securities Exchange.
About Lexston Mining Corporation
The Company is a Canadian mineral exploration company, focused on the acquisition and development
of mineral projects, with the objective to enhance value to all its stakeholders. The Company has a mineral
exploration project in British Columbia.
The Company (OTCQB: LEXTF) trades on the OTCQB Ve nture Market for early stage and developing U.S.
and international companies. Companies are current in their reporting and undergo an annual verification
and management certification process. Investors can find Real-Time quotes and market information for
the company on www.otcmarkets.com.
On Behalf of the Board of Directors
LEXSTON MINING CORPORATION
Jagdip Bal
Chief Executive Officer
Telephone: (604) 928-8913
Email: [email protected]
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of the content of this news release.
Forward-looking statements
This news release contains "forward-looking information" under applicable Canadian securities legislation.
Such forward-looking information reflects management's current beliefs and are based on a number of
estimates and/or assumptions made by and information currently available to the Company that, while
considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may
cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking information. Readers are cautioned that such forward-looking information are neither
promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not
limited to, general business, economic, competitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of available capital, actual results of exploration activities,
environmental risks, future prices of base and other metals, operating risks, accidents, labour issues,
objections by aboriginal people, delays in obtaining governmental approvals and permits, obtaining
consents of aboriginal people and other risks in the mining industry.
These forward-looking statements include but are not limited to the definitive assignment agreement
regarding the Garfield Property, quality and mineralization of the Garfield Property, timing of the
exploration program, goals of the exploration program, obtaining financing, obtaining exploration
permits, exploration of properties for minerals, liquidity of the common shares of the Company and future
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financings of the Company. These statements reflect management's current estimates, beliefs, intentions,
and expectations. They are not guarantees of future performance. The Company cautions that all forward-
looking statements are inherently uncertain and that actual performance may be affected by many
material factors, many of which are beyond the Company’s control. Such factors include, among other
things: risks and uncertainties relating to the acquisition of new properties, liquidity of the common shares
of the Company, financings, the market valuing the Company in a manner not anticipated by management
of the Company. Accordingly, actual and future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectat ions expressed or implied in the forward-looking
information. Except as required under applicable secu rities legislation, the Company does not undertake
to publicly update or revise forward-looking information.
The Company is presently an exploration stage com pany. Exploration is highly speculative in nature,
involves many risks, requires substantial expendit ures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, the Company currently has no reserves on its
properties. Investment in the securities of the Company is risky. As a result, there can be no assurance
that such forward-looking statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements.