Lexston enters MOU for option to acquire Garfield Hills

Mr. Jagdip Bal reports MEMORANDUM OF UNDERSTANDING REGARDING OPTION TO ACQUIRE GARFIELD HILLS PROPERTY IN NEVADA Lexston Mining Corp. has entered a memorandum of understanding regarding an option to acquire 128 mineral claims located in Mineral county, Nevada, United States, known as the Garfield Hills property. The company signed the memorandum of understanding with 2730573 Alberta Ltd., an Alberta corporation, and Imperium Mine Supply Corp. (a Nevada company and a subsidiary of 2730573 Alberta) with respect to a proposed assignment of the option to acquire the Garfield Hills property term sheet between 2730573 Alberta and three individual optionors dated Aug. 31, 2025, and the definitive option agreement between Imperium Mine Supply Corp. and three individual optionors, effective as of Oct. 22, 2025. "The northern and eastern flank of the Garfield property subject to the MOU is contiguous with the Garfield property owned by Guardian Metals Resources PLC. Guardian has reported (news release dated Nov. 3, 2025) high-grade gold, silver and copper mineralization on its Garfield property. Subject to entering into a binding option assignment agreement, the company plans on investigating the projected extensions of all the zones reported by Guardian," stated Jag Bal, chief executive officer of the company. Pursuant to the memorandum of understanding, the parties agreed to work toward finalizing and entering into a definitive assignment agreement. Pursuant to the MOU, the company has until Nov. 30, 2025, to complete due diligence with respect to the Garfield property. If satisfied with the due diligence, the company will enter into the assignment agreement and, as consideration for the assignment, will pay $45,000 and will issue 1.6 million shares to 2730573 Alberta. The company will assume the rights and obligations of 2730573 Alberta under the term sheet and of Imperium Mine Supply under the option agreement. To earn a 100-per-cent interest in the Garfield property, the option agreement requires making cash payments in the amount of $130,000 and issuance of shares valued at $90,000 for total consideration of $220,000 to three optionors as follows: Within six months from Aug. 31, 2025, $10,000 payable in cash and $15,000 in shares; Within 12 months from Aug. 31, 2025, $25,000 payable in cash and $20,000 in shares; Within 24 months from Aug. 31, 2025, $40,000 payable in cash and $25,000 in shares; and Within 36 months from Aug. 31, 2025, $55,000 payable in cash and $30,000 in shares. Pursuant to the option agreement, the optionors have a right to receive 1.5 per cent of net smelter returns on all mineral products produced from all claims comprising the Garfield property. The company will have the right to repurchase 1.0 per cent of the 1.5-per-cent net smelter returns for a one-time payment of $150,000. The assignment agreement will be subject to the acceptance by the Canadian Securities Exchange. About Lexston Mining Corp. The company is a Canadian mineral exploration company, focused on the acquisition and development of mineral projects, with the objective to enhance value to all its stakeholders. The company has a mineral exploration project in British Columbia. The company trades on the OTCQB Venture Market for early-stage and developing U.S. and international companies. Companies are current in their reporting, and undergo an annual verification and management certification process. We seek Safe Harbor.