AIM-listed Lexington Gold has struck a deal to sell its U.S. gold project interests to GoldOz, a former ASX-listed company, as part of a plan to sharpen its focus on its South African portfolio.

The binding agreement, announced on 24 June 2026, will see Lexington sell its wholly-owned subsidiary, Global Asset Resources (GAR) to GoldOz. GAR holds Lexington's 51% interests in three gold projects – Jennings Pioneer, Jones-Keystone-Loflin, and Carolina Belle – located in North and South Carolina. The transaction is intended to form the cornerstone of GoldOz's proposed relisting on the Australian Securities Exchange (ASX).

Under the agreement, Lexington will receive:

· A$350,000 in total cash payments (A$25,000 upfront and A$325,000 on completion).

· 25.5 million new GoldOz shares, representing approximately 36.7% of GoldOz's issued share capital upon relisting.

· A 1% net smelter royalty (NSR) over the U.S. projects.

· Up to an additional 12.5 million GoldOz shares, contingent on achieving defined JORC resource milestones.

If these milestones are met, Lexington's stake would increase to 38 million shares, or about 46.3% of GoldOz's enlarged share capital.

The deal allows Lexington shareholders to realise value from the U.S. assets while maintaining future upside exposure. It also enables the company to concentrate management's time and capital on its South African portfolio, particularly the Jelani joint venture project, which hosts a JORC-compliant mineral resource of approximately 6.02 million ounces of gold.

The U.S. projects include the Jones-Keystone-Loflin site with an existing JORC-compliant Inferred Mineral Resource of about 323,500 ounces of contained gold, alongside further exploration potential at Jennings Pioneer and Carolina Belle.

Edward Nealon, Lexington's non-executive chairperson, said the board had "carefully considered the optimal approach to realising value from Lexington's diversified asset portfolio" and believes the transaction represents "a compelling pathway" for the company's American project interests.

CEO Dr Bernard Olivier added that the deal allows Lexington to "retain meaningful exposure to the potential future upside in respect of its key US project interests, while contributing to the creation of a dedicated ASX platform". He noted that Lexington remains funded for its planned exploration activities following a fundraising of about £1.19 million in January 2026.

The transaction remains subject to several conditions, including due diligence, GoldOz raising seed capital, execution of revised joint venture arrangements, ASX approvals, GoldOz shareholder approval, and completion of the relisting process.