Lux Metals Reports 0.71% Cu over 19.50 m Within Previously Reported 17.57 g/t Au Intercept, including 1.45% Cu with 39.08 g/t Au over 8.00 m, Confirming Gold-Copper Mineralization at Zone 32, La Grande Gold Project, James Bay, Quebec

Lux Metals Corp. (LXM) has released data-completion results for drill hole LG26-241, the first hole at Zone 32. While gold intercepts for this interval were previously published on October 14, 2026, the latest release provides new copper and multi-element assay data for the same zone.

The Zone 32 interval in LG26-241 returned 19.50 m from 220.5 m downhole grading 17.57 g/t Au and 0.71% Cu. When capped at 50 g/t, the gold grade for this interval is 11.67 g/t Au. This includes 8.00 m from 229.0 m grading 39.08 g/t Au and 1.45% Cu, which caps at 24.70 g/t Au. Two 1 m high-grade samples were also identified: 165 g/t Au / 3.58% Cu from 232–233 m, and 45.40 g/t Au / 5.79% Cu from 233–234 m.

The 2026 drilling program is now complete, consisting of 3 holes for a total of 1,416 m. Assays for the other two holes and the remainder of LG26-241 outside Zone 32 are pending, with results expected by the end of November 2026.

Copper is hosted in chalcopyrite co-occurring with pyrite and visible gold within sericite-altered shear and quartz veins. The new data highlights copper grades of 0.71% Cu over the full interval and 1.45% Cu in the high-grade core.

A drone-borne magnetic survey is currently underway, covering approximately 160 line-km at 35 m spacing. The survey targets the tonalite–Yasinski volcanic contact and shear structures.

Lux Metals Corp. (LXM) released copper assay data on October 14, serving as a footnote to the gold results published on the same date. The market did not reward the initial gold disclosure, which reported 342.6 g·m uncapped and 227.6 g·m capped. The stock closed at $0.19 on October 13, ticked to $0.21 on the release date, then fell to $0.17 the following day and has hovered between $0.17 and $0.18 since. This latest release contains no new gold, metres, or zones.

The data provides a copper grade of 0.71%, with 1.45% in the core, which is above the historical model of 0.15–0.25%. This modestly improves the by-product picture and confirms a coherent gold-copper event. As a pre-resource micro-cap with a market capitalization of approximately C$14M, discovery-scale news would typically be material. However, because the discovery-scale gold has already been disseminated and the price barely moved, the incremental copper does not add scale or odds.

The update does not change resource, tonnage, continuity, or net asset value. It refines the grade mix of a single already-reported interval.

Lux Metals Corp. (TSXV: LXM) is a pre-revenue Canadian gold explorer with approximately C$7.5 million in equity and C$3.5 million in cash, carrying no debt according to nine-month filings to May 31, 2026. The company’s flagship asset is the 15,357-hectare La Grande Gold Project located in Eeyou Istchee James Bay, Québec. Situated on a 40 km Archean greenstone trend near the all-season Trans-Taïga Road, the project benefits from proximity to hydro power and the Éléonore mine. To date, only approximately 2 km of drilling has been conducted on the trend.

The core asset is Zone 32, a shear-hosted gold-copper system within tonalite. Historical drilling between 1996 and 2015 comprised 253 holes totaling 52,472 meters, defining the system over a 600-meter strike and approximately 350 meters of depth, with the deposit remaining open in all directions. There is no current NI 43-101 resource; historical estimates of approximately 3–5 million tonnes at 1.8–2.6 g/t Au and 0.15–0.25% Cu are explicitly non-compliant.

Management includes CEO Kim Nguyen and Chair Jean-Félix Lepage, both of whom possess operations and feasibility experience. Strategic shareholder OVI/La Pulga, holding approximately 19.9%, holds a board seat and a first-refusal right. The company is funding exploration entirely through equity.