Lake Winn to close placement, ends Jaxon LOI

Mr. Patrick Power reports LAKE WINN ANNOUNCES EXTENSION OF PRIVATE PLACEMENT AND PROVIDES UPDATE ON BINDING LETTER OF INTENT WITH JAXON MINING INC. Further to Lake Winn Resources Corp.'s news release dated June 2, 2025, the company is still proceeding with a non-brokered private placement of up to 11,818,182 units at a price of 5.5 cents per unit, for gross proceeds of up to $650,000. The company anticipates closing the first tranche of the offering in the week of Aug. 18. 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 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 finders' fees on the offering within the amount permitted under the policies of the TSX-V. 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. 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 TSX-V 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 Aug. 18, 2025. The company expects to continue to focus on its key critical mineral project, on the Little Nahanni pegmatite swarm, which contains lithium, cesium, tantalum and tin mineralization of several kilometres of strike on the Yukon, Northwest Territories, border. The company expects to resume trading in the week of Aug. 18 (and possibly as soon as Wednesday, Aug. 20). About Lake Winn Resources Corp. Lake Winn Resources is a mineral exploration company focused on advancing the 100-per-cent-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-kilometre-long and up-to-500-metre-wide, lithium, cesium and tantalum pegmatite dike swarm. The project has had historic drilling and channel sampling that confirm significant lithium, tantalum, cesium and tin. We seek Safe Harbor.