Lake Winn Announces Extension of Private Placement and Provides Update ON Binding Letter of Intent with Jaxon Mining Inc.
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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN
THE UNITED STATES
LAKE WINN ANNOUNCES EXTENSION OF PRIVATE PLACEMENT AND
PROVIDES UPDATE ON BINDING LETTER OF INTENT WITH JAXON MINING INC.
Vancouver, British Columbia – August 18 , 2025 – Lake Winn Resources Corp.
(TSXV: LWR, FSE: EE1A) (the “ Company”) announces that further to its news release
dated June 2, 2025, the Company is still proceeding with a non -brokered private
placement (the “ Offering”) of up to 11,818,182 units (the “ Units”) at a price of $0.055
per Unit, for gross proceeds of up to $650,000.
The Company anticipates closing the first tranche of the Offering (the “ First Tranche”)
in the week of August 18 th.
The Company intends to use the net proceeds from the Offering for exploration costs
related to the Company’s Little Nahanni project and for general working capital.
Closing of the First Tranche and the Offering is subject to a number of prescribed
conditions, including, without limitations, approval of the TSX Venture Exchange (the
“TSXV”). The outside date upon which final acceptance of the Offering will be granted
by the Exchange has been extended until August 2025.
The Company may pay finder’s fees on the Offering within the amount permitted under
the policies of the TSXV.
Update on Binding Letter of Intent with Jaxon Mining Inc.
On July 24, 2025, the Company announced a binding letter of intent with Jaxon Mining
Inc. (“Jaxon”) in connection with Jaxon’s Blunt Mountain silver -antimony-gold-lead-zinc-
copper property (the “ LOI”). The Company’s stock was halted the same day given that
such proposed transaction may have constituted a Fundamental Acquisition under
TSXV policies.
Given the time and expense related to a possible Fundamental Acquisition, the
Company and Jaxon have terminated the LOI without recourse pursuant to a
termination agreement dated August 18, 2025.
The Company expects to continue to focus on its key critical mineral project, on the
Little Nahanni P egmatite swarm, which contains lithium, cesium, tantalum and t in
mineralization of several kilometers of strike on the Yukon, Northwest Territories border.
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The Company expects to resume trading in the week of August 18 th (and possibly as
soon as Wednesday, August 20 th).
This news release does not constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any state securities laws and may not be offered or sold within the
United States or to U.S. persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is available.
About Lake Winn
Lake Winn Resources Corp. is a mineral exploration company focused on advancing
the 100% owned Little Nahanni Pegmatite project located in the Northwest Territories
near the Yukon Border. The project covers 9,682.5 hectares that including a major
portion of a 13 km-long and up to 500 m wide, lithium, cesium, and tantalum pegmatite
dyke swarm. The project has had historic drilling and channel sampling that confirm
significant lithium, tantalum, cesium, and tin.
ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINN RESOURCES CORP.
Patrick Power
President, CEO & Director
Lake Winn Resources Corp.
Telephone: (604) 218-8772
www.lakewinn.ca
Neither the TSX Venture Exchange nor its 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.
Forward-looking Statements: Certain statements in this news release are “forward -
looking statements” which reflect the Company’s current expectations and projections
about future events and financial trends that it believes might affect its financial
condition, results of operations, business strategy and financial needs. In some cases,
these forward-looking statements can be identified by words or phrases such as “may”,
“might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “see k”,
“believe”, “estimates”, “predicts” or “likely”, or the negative of these terms, or other
similar expressions intended to identify forward- looking statements. Whether actual
results, performance or achievements will conform to the Company’s expectations and
predictions is subject to a number of known and unknown risks, uncertainties,
assumptions and other factors, including without limitation, delays resulting from or
inability to obtain applicable regulatory approval for the Offering, the Offering being fully
subscribed, and completion of an exploration program on the Little Nahanni Project are
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forward-looking statements that involve various risks and uncertainties. Investors should
not place undue reliance on forward- looking information. Important factors that could
cause actual results to differ materially from the Company’s expectations include actual
exploration results, results of future resource estimates, future metal prices, availability
of capital and financing on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, defects in title, availability of personnel,
materials and equipment on a timely basis, accidents or equipment breakdowns, delays
in receiving government approvals, unanticipated environmental impacts on operations
and costs to remedy same, and other exploration or other risks detailed herein and from
time to time in the filings made by the Company with securities regulators. The forward-
looking information contained herein is made as of the date hereof and is not obligated
to update or revise any forward- looking information, whether as a result of new
information, future events or otherwise, except as required by applicable securities laws.