Update on Uranium Properties in Nunavut
929 Mainland Street
Vancouver, BC V6B 1S3
Phone
Website
(604) 928-8913
www.lexston.ca
News Release
Lexston update on Geological Exploration Program on ITZA and 176 Uranium Properties in Nunavut
Vancouver, British Columbia, October 15, 2024. Lexston Mining Corporation (the “Company” or
“Lexston”) (CSE: LEXT) (OTCQB: LEXTF) (Frankfurt: W5G) Lexston Mining Corporation (CSE: LEXT) (OTCQB:
LEXTF) (the “Company” or “Lexston”) is pleased to provide a project update on the ITZA and 176 Nunavut
Uranium properties in Nunavut (the “Project”).
Aurora Geoscience geologists completed 7 days of prospecting, mapping and sampling with helicopter
access to the Project based out of Baker Lake. The work was completed with two crew, daily field
traverses resulted in 75km of prospecting. 5 Areas were prospected and mapped utilizing a RS -125 scin-
tillometer, a total of 113 boulders and 16 outcrops were surveyed. A total of 21 samples were collected
and have been submitted to ALS laboratories for Geochemical Analysis – these results are still pending.
Aurora geologists also provided field-based mapping outlining the extent of Till Veneer and Glaciofluvial
deposits which cover >90% of the mapped areas.
Preliminary Results
The recent field reconnaissance program yielded promising results, identifying several key indicators fa-
vorable for uranium mineralization. Notably, low -level anomalous readings were detected over a broad
area of boulder trains and outcrops using a handheld scintillometer, highlighting potential mineralization
zones. Most of the prospective areas (approximately 90-95%) are covered by a thin veneer of glacial till
and glaciofluvial deposits, which is consistent with regional patterns and suggests that a potential deposit
may be concealed beneath this cover.
Encouraging signs of a broader mineralized system were observed, including strong hematite alteration
and with elevated scintillometer readings. These findings, along with historical data, point to the 176-
target area as particularly promising, though the central area also shows positive equal signs.
Additionally, historical board spaced geophysics and regional geological mapping have identified signifi-
cant structural lineaments in the area, intersecting with the unconformity associated with Thelon Basin
sandstones. Basement structures known to host uranium-rich hydrothermal convection are present, and
the proximity to the unconformity suggests that potential uranium mineralization could be relatively shal-
low.
Local geophysical anomalies align with the detected low-level uranium anomalism. Given the overlying till
veneer, further geophysical investigations are expected to refine our understanding of the structural lin-
eaments and better define the location of the unconformity within the identified anomalous zones.
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Figure 1: 176 Prospect area illustrating the extent of Historical results and recently
completed field prospecting and reconnaissance.
Qualified Person: The technical information contained in this news release has been reviewed by Luke van
der Meer., P .Geo. Mr. van der Meer is a qualified person as defined by National Instrument 43-101.
1 Historical Data: The technical information contained within this news release is derived from public
domain data and minerals claims assessment reporting and is freely available from the Canada-Nunavut
Geoscience Office (CNGO) website. This news release includes historical information that has been
reviewed by Lexston’s qualified person (“QP”). Lexston’s review of the historical records and information
reasonably confirm the validity of the information presented in this news release; however, Lexston cannot
directly verify the accuracy of the historical data, which includes (but not limited to) the procedures used
for sample collection and analysis. Therefore, any conclusions or interpretations that may arise from the
respective data should be considered too speculative to suggest that additional exploration will result in
mineral resource delineation. Lexston encourages readers to exercise appropriate caution when evaluating
results based on historical data.
2 Exploration Target(s): Exploration targets and/or Exploration zones and/or Exploration areas are
speculative and there is no certainty that any future work or evaluation will lead to the definition of a
mineral resource.
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About Aurora Geosciences
Founded in 1981, Aurora Geosciences has its origins in Northern Canada, established with a commitment
to excellence in northern exploration aimed at mineral discovery. The founders envisioned and
implemented innovative exploration models and techniques, ad apting geophysical technology to
withstand the harsh northern elements. This approach was instrumental in several major base and
precious metal discoveries in the Northwest Territories and Nunavut.
Driven by the same passion for over 40 years, Aurora Geosciences' staff uphold the tradition of mineral
exploration and discovery. Their operations have expanded beyond the Northwest Territories, Yukon, and
Alaska to include numerous projects across North America. The team continues to excel in providing
integrated geoscience solutions, products, and exploration support for clients, maintaining a "can do"
attitude. Home - Aurora Geosciences Ltd.
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 mineral
exploration projects in British Columbia and Nunavut, Canada.
The Company (OTCQB: LEXTF) trades on the OTCQB Venture 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 s uch
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.
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These forward-looking statements include but are not limited to potential deposits, mineralized system,
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 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, financing, and the market valuing the Company in a manner not anticipated by
the management of the Company. Accordingly, actual and future events, conditions and results may differ
materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-
looking information. Except as required under applicable securities legislation, the Company does not
undertake to publicly update or revise forward-looking information.
The Company is presently an exploration stage company. Exploration is highly speculative in nature,
involves many risks, requires substantial expenditures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, t he Company currently has no reserves on its
properties. Investment in the securities of the Company is highly speculative. As a result, there can be no
assurance that such forward-looking statements will prove to be accurate, and actual results and futur e
events could differ materially from those anticipated in such statements.