Stock Option Grants

LUXOR METALS LTD.

2130 Crescent Road

Victoria, BC V8S 2H3

Phone: (778) 430-5680

NEWS RELEASE

Stock Option Grants

January 29, 2026: Victoria, Canada –– Luxor Metals Ltd. (“Luxor” or “the Company”) (“LUXR”-

TSX-V) announces that, in conformance with its stock option plan (as approved by the shareholders of the

Company at its Annual and Special Meeting held April 4, 2025), the Company has granted to certain

directors, employees and consultants, options to purchase 1,924,896 shares of the Company at a price of

$0.24 per share (closing price of Luxor shares on the day previous), exercisable until January 29, 2031.

The new grants are subject to the policies of the TSX-V Stock Exchange. The stock option plan is a fixed

20% plan.

About Luxor Metals Ltd.

Luxor Metals holds title to 20,481 hectares of mineral claims known as the “Luxor Project” situated in

northwestern British Columbia in the southern portion of the “Golden Triangle”.

Respectfully submitted,

"Dino Cremonese, P .Eng."

Dino Cremonese, P . Eng.,

President and Chief Executive Officer

Neither the TSX V enture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX V enture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements regarding Forward-Looking information

Certain statements contained in this press release constitute forward-looking information. These statements relate

to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will",

"projected", "estimated" and similar expressions and statements relating to matters that are not historical facts

are intended to identify forward-looking information and are based on the Company's current belief or

assumptions as to the outcome and timing of such future events. Actual future results may differ materially.

All statements relating to future plans, objectives or expectations of the Company are forward-looking statements

that involve various risks and uncertainties. There can be no assurance that such statements will prove to be

accurate and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from the Company's plans or expectations

include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of

equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general

economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals

and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.

The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements

whether as a result of new information, future events or otherwise except as otherwise required by applicable

securities legislation.