Lux Metals to Commence Diamond Drilling at La Grande Gold Project, Quebec
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Vancouver, British Columbia, August 18th, 2026 – Lux Metals Corp. (TSXV: LXM) (the “Company” or “Lux”) is pleased to announce that diamond drilling will commence on August 25th, 2026 at its La Grande Project, located along the Trans-Taïga Road between kilometres 60 and 95, in the Eeyou Istchee James Bay region of Québec.
Programme Highlights
- 4,500 metres of diamond drilling, to commence on August 25th, 2026. The program is drawn from 8,800 m of designed holes.
- Drilling will focus on:
- Expanding the Zone 32 mineralized envelope down-plunge and along strike.
- Infill drilling within the known system.
- Testing of parallel structures within the broader tonalite corridor.
"Zone 32 has more than 40,000 metres of historic drilling behind it and it is still open in every direction. We spent this year designing 8,800 metres of holes against that dataset and we are now putting the best 4,500 of them in the ground. The June field programme confirmed at surface exactly the gold–copper signature the model is built on." said Kim Quyên Nguyên, President and Chief Executive Officer of Lux Metals Corp.
The Zone 32 Gold System
Zone 32 is the high-grade core of the La Grande Project, hosted within the La-Grande-Sud Tonalite at the structural contact with surrounding mafic volcanic rocks of the Yasinski Group. The deposit is interpreted as a shear-zone, intrusion-hosted Archean orogenic gold system, the same deposit family responsible for many of the Superior Province’s most productive gold camps.
Over 40,000 metres of historic diamond drilling have delineated gold mineralization at Zone 32 extending 600 metres along strike and 350 metres at depth. Mineralization begins at surface and remains open at depth, along strike, and laterally. Adjacent and related zones within the same structural corridor include the Pari, Brèche, Mico-Milan, and Vein zones, which together form a broader coherent mineralized system within the La Grande tonalite.
One drill hole in particular highlights the expansion potential of the system. LGS12-224 intersected 1.93 g/t gold over 37.0 metres approximately 400 metres down-plunge from the main Zone 32 envelope, confirming that the gold-bearing system extends well beyond the currently defined mineralized zone.
Figure 1: La Grande Project Drilling Target Area and Location of the La Grande Project
Historical results referred to above were generated by previous operators of the Property. Lengths are downhole (core) lengths; true widths have not been determined. The Company has not independently verified these historical results, a Qualified Person has not completed sufficient work to verify them, and they are not necessarily indicative of results that may be obtained from the current drilling programme. Readers are referred to the NI 43-101 Technical Report dated January 12, 2026, available on SEDAR+.
Surface Programme Informing the Drill Campaign
The Company completed a surface prospecting and geochemical programme in June 2026, collecting 100 rock and 55 soil samples.
It provided independent surface confirmation of the gold–copper association central to the Zone 32 deposit model. Best results included grab samples of 1.40 g/t Au with 1,030 ppm Cu and 5.7 g/t Ag, and 0.519 g/t Au with 729 ppm Cu and 3.55 g/t Ag. Across the rock sample set, gold co-varies with silver, copper and tellurium, consistent with the disseminated and vein-hosted sulphide mineralization described in the technical report.
Analytical Method and Quality Control
Surface samples were submitted to AGAT Laboratories. Gold for 59 of 100 rocks and 49 of 55 soils was determined by 50 g fire assay with AAS finish at AGAT's Thunder Bay, Ontario facility, with a detection limit of 0.002 ppm; multi-element analysis was by aqua regia digestion with ICP-OES/ICP-MS finish at AGAT Calgary. Certified reference material recoveries for the fire assay determinations ranged from 87.5% to 102.1%, and all method blanks returned values below detection.
Cautionary Note Regarding Grab Samples
Grab samples are selective in nature and are collected to determine the presence or absence of mineralization. Grades reported from grab samples are not necessarily representative of the mineralization present on the Property and should not be relied upon as indicative of average grades or of the results of any future exploration.
Qualified Person
The technical content of this news release has been reviewed and approved by Jonathan Marleau, P.Geo., Senior Geologist at Dahrouge Geological Consulting Ltd., an independent consultant of the Company, and a Qualified Person pursuant to National Instrument 43-101.
About Lux Metals Corp.
Lux Metals Corp. (TSXV: LXM) is a Canadian mineral exploration company focused on advancing its flagship La Grande Gold Project in Québec’s James Bay region. The Project hosts the high-grade Zone 32 gold system, supported by extensive historic drilling, direct access via the four-season Trans-Taïga Road, and district-scale exploration potential. For more information, visit www.lux-metals.com.
On Behalf of the Board of Lux Metals Corp.
Kim Quyên Nguyên
President and Chief Executive Officer
For more information, please contact 604-678-5308 or info@lux-metals.com.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward–looking information within the meaning of applicable Canadian securities laws. Forward-looking statements in this news release include, without limitation, statements regarding the commencement date, metreage and design of the planned drilling programme, the targets to be tested, and the potential for expansion of mineralization at Zone 32. Generally, forward–looking statements and information can be identified by the use of forward–looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward–looking statements", are not historical facts, are made as of the date of this news release. These forward–looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward–looking statements. In making the forward–looking statements in this news release, the Company has applied several material assumptions. There can be no assurance that any forward–looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward–looking information or statements. The Company undertakes no obligation to update forward–looking information or statements, other than as required by applicable law.