Lake Winn Announces Extension of Private Placement and Provides Update on Binding Letter of Intent with Jaxon Mining Inc.

Executive Summary

• Lake Winn Resources Corp. is proceeding with a non‑brokered private placement of up to 11,818,182 units at $0.055 per unit, targeting gross proceeds of up to $650,000.
• The first tranche of the offering is expected to close in the week of August 18 2025, subject to TSXV approval and other conditions.
• The previously announced binding letter of intent with Jaxon Mining Inc. for its Blunt Mountain property has been terminated by mutual agreement.

Key Details

• Offering Size: Up to 11,818,182 units (each consisting of one common share and one warrant).
• Price per Unit: $0.055.
• Maximum Gross Proceeds: $650,000.
• Closing Timeline: First tranche anticipated to close during the week of August 18 2025; overall offering subject to an extended outside date of August 2025.
• Use of Proceeds: Net proceeds will be allocated to exploration expenses for the Little Nahanni project and general working capital.
• Conditions: Closing contingent upon TSXV approval and other prescribed conditions; finder’s fees may be paid within TSXV‑permitted limits.
• LOI Termination: The binding letter of intent with Jaxon Mining Inc., announced on July 24 2025 for the Blunt Mountain silver‑antimony‑gold‑lead‑zinc‑copper property, was terminated on August 18 2025 without recourse under a termination agreement.
• Trading Halt & Resumption: Stock trading was halted on July 24 2025 due to the LOI; trading is expected to resume in the week of August 18 2025 (potentially as early as Wednesday, August 20 2025).

Notable Quotes

“We remain focused on advancing our flagship Little Nahanni Pegmatite project and are pleased to continue raising capital to support exploration while concluding the Jaxon LOI in an orderly manner.” – Patrick Power, President, CEO & Director.