OVI Mining Corp. FILES EARLY WARNING REPORT FOR LUX METALS CORP.

Executive Summary

• OVI Mining Corp. acquired a 19.9% stake in Lux Metals Corp. (TSXV: LXM) through the exercise of an option to acquire a 100% interest in the La Grande Project.
• The transaction involved the acquisition of 15,125,477 common shares at a deemed price of $0.20 per share, resulting in OVI becoming a significant shareholder in Lux.
• This acquisition was executed pursuant to an option agreement dated November 10, 2025, and OVI has filed an Early Warning Report with Canadian securities regulators.

Key Details

• Transaction Structure: OVI Mining Corp. acquired 15,125,477 common shares of Lux Metals Corp.
• Acquisition Price: Deemed price of $0.20 per common share.
• Total Value: Approximately $3,025,095.40 (15,125,477 shares × $0.20).
• Ownership Stake: Immediately following the transaction, OVI owns and controls approximately 19.9% of the issued and outstanding common shares of Lux on a non-diluted basis.
• Pre-Transaction Status: OVI did not own or control any common shares or other securities of Lux immediately prior to the transaction.
• Underlying Asset: The shares were acquired in the context of Lux exercising its option to acquire a 100% interest in the La Grande Project.
• Agreement Details: The transaction is governed by an option agreement entered into between OVI and Lux on November 10, 2025.
• Regulatory Filings: An Early Warning Report was filed with applicable Canadian securities regulatory authorities and is available on SEDAR+.
• Future Intent: OVI may acquire additional securities or dispose of existing holdings depending on market conditions and business prospects.

Notable Quotes

• No direct quotes from executives were included in the text of the release.