Lux Metals Reports 0.71% Cu over 19.50 m Within Previously…

VANCOUVER, British Columbia, Oct. 29, 2026 (GLOBE NEWSWIRE) -- Lux Metals Corp. (TSXV: LXM) (the “Company” or “Lux”) is pleased to report the copper results for the Zone 32 interval in hole LG26-241, the first hole of its 2026 diamond drill program at the La Grande Gold Project (the “Project”), located in the Eeyou Istchee James Bay region of Québec.

Highlights

Complete results for the Zone 32 interval (see news release dated October 14, 2026) include 17.57 g/t Au and 0.71% Cu over 19.50 m from 220.5 m downhole (see Figures 1 and 2),
- including 39.08 g/t Au and 1.45% Cu over 8 m.
- One sample returned 165 g/t Au and 3.58% Cu over 1m (G240715, 232 to 233m).
- One sample returned 45.40 g/t Au and 5.79% Cu over 1m (G240717, 233 to 234m).
The 2026 drill program which comprised 3 holes totalling 1,416 m, has now been completed. Assays for the remaining holes and for the remainder of hole LG26-241 are pending and expected end of November 2026.
The Company has launched a drone-borne magnetic survey over the Zone 32 area of the Project to map the structures controlling the gold-copper mineralization and refine targets for future drilling.

"With the copper results in hand, LG26-241 shows significant copper alongside the high-grade gold across the Zone 32 interval, confirming the gold-copper character of the system,” said Kim Quyên Nguyên, President and Chief Executive Officer of Lux Metals Corp. “The drill program is now complete, and the magnetic survey will help us trace the structures that control the mineralization as we plan our next steps."

Drilling Localization Plan with Hole LG26-241

Figure 1: Drilling Localization Plan with Hole LG26-241

Cross Section of Drilling Location with Hole LG26-241

Figure 2: Cross Section of Drilling Location with Hole LG26-241

Table 1: Gold and Copper Assay Results¹ for Hole LG26-241

Hole Number	From (m)	To (m)	Length (m)²	Au (g/t)	Cu (%)	Au (g/t)³
LG26-241	220.5	240	19.50	17.57	0.71	11.67
Including	229	237	8	39.08	1.45	24.70

¹ Gold values for the Zone 32 interval were previously reported on October 14, 2026. Copper values are reported here for the first time.
² Lengths are reported as core lengths; true width is estimated at 75% of the intercept.
³Capped gold value at 50 g/t.

Table 2: Drill Hole Collar Information

Hole Number	Easting	Northing	Elevation (m)	Azimuth	Dip	Length (m)
LG26-241	396583	5932335	231	165	50	297

*Coordinate in UTM NAD83, Z18

Hole LG26-241: Copper Results for the Zone 32 Interval

On October 14, 2026, the Company reported gold assays for the Zone 32 interval in hole LG26-241 (17.57 g/t Au over 19.50 m, including 39.08 g/t Au over 8 m). At that time, multi-element (ICP) results, including copper, were pending. These results have now been received (Table 1). Assays for the remainder of hole LG26-241, outside this Zone 32 interval, are pending and will be reported once received and validated.

Zone 32 (220.5 m to 240.0 m): 0.71% Cu over 19.50 m, including 1.45% Cu over 8 m. One sample returned 165 g/t Au and 3.58% Cu over 1m and another returned 45.40 g/t Au and 5.79% Cu over 1m. Copper is hosted by chalcopyrite, which occurs with pyrite and visible gold in the same sericite-altered shear zones and quartz veins, notably between 232.41 m and 233.62 m, indicating that gold and copper were introduced by the same mineralizing event.

2026 Drill Program Completed

The 2026 diamond drill program at La Grande was completed on October 20, 2026, with 3 holes totalling 1,416 m. In addition to LG26-241, the program tested the eastern extension of Zone 32 and the deep zone identified in historical hole LGS12-224. All core has been logged and sampled, and samples have been delivered to AGAT Laboratories in Val-d’Or. Assay results are expected end of November 2026 and will be released once received and validated.

Magnetic Survey Underway

The Company has started a high-resolution drone-borne magnetic survey over the Zone 32 area of the Project. The survey conducted will cover approximately 160 line-km at 35 m line spacing and is expected to be completed before November 2026.

Zone 32 lies along the contact between the La Grande-Sud tonalite and Yasinski Group volcanic rocks, where gold is concentrated in sheared, sericite-altered and sulphide-bearing tonalite. The survey is designed to map this contact and the associated shear structures at high resolution, identify along-strike and perpendicular structures, and, combined with the 2026 drilling results, help prioritize targets for the next drill program.

Quality Assurance and Quality Control

Drilling was conducted using a diamond drill rig with NQ sized core. Samples were logged and sampled on site, where core was sawn in half and bagged. Quarter core were also sawn for field duplicate. Each bag was secured using a zip-tie, and bagged into a rice bag that was sealed until opening at the laboratory. Samples were transported by road to AGAT Laboratories facility in Val-d’Or, Quebec for standard preparation (code 200075+200087), which include drying at 105°C, crushing 75% passing 2mm, riffle split 250g and pulverize 85% passing 75 microns. A 15g sub-sample is taken and shipped by air to AGAT Laboratory in Calgary for the four acid digestion 48 metals analysis with ICP-OES/MS finish. Most of the pulp is sent to AGAT Laboratory in Thunder Bay for gold fire assay of 50g with AAS finish. Samples returning greater than 10 g/t Au were re-analyzed by fire assay (50 g) with a gravimetric finish. Samples returning greater than 10,000 ppm Cu were re-analyzed for overlimit copper by four acid digestion with ICP OES/MS.

A Quality Assurance / Quality Control (QA/QC) protocol following industry best practice was incorporated to the sampling procedure. Measures include insertion at regular spacing of quartz blank (4%), certified reference materials (4%) and quarter core duplicate (4%). Additional blank material was added after each occurrence of visible gold, and additional high grade gold CRM were added in the mineralized zone. Validation of values for gold and copper from the blank and certified reference material from the release result returned acceptable results from industry standard.

Qualified Person

The scientific and technical information contained in 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, who is a "qualified person" (within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects) and independent of the Company for purposes of Section 1.5 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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 579-314-0129 or info@lux-metals.com.

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 relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects", "anticipates", "plans" or "targeting", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would", "will", "potentially" or "likely" occur. Forward-looking statements in this news release include, but are not limited to, statements regarding the timing of receipt of remaining assay results from the 2026 drill program; the completion, scope and objectives of the drone-borne magnetic survey; the interpretation of the gold-copper mineralization encountered in hole LG26-241; the identification of additional exploration targets; future drilling activities; and the potential expansion of mineralization at Zone 32 and elsewhere on the Project. This information and these statements, referred to herein as "forward-looking statements", are not historical facts and are made as of the date of this news release. These forward-looking statements involve numerous risks and uncertainties, including risks related to exploration results; geological interpretation; the continuity and extent of mineralization; the receipt, timing and interpretation of assay results; the results of the magnetic survey; weather and field conditions; the availability of contractors, equipment and personnel; permitting and access; and other risks inherent in mineral exploration, 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, including that assay results will be received within anticipated timelines; that the magnetic survey will be completed as planned; that exploration activities will proceed as currently contemplated; that contractors, equipment and personnel will remain available; that required permits and access will be obtained and maintained; and that the results of ongoing exploration will support the Company's geological interpretation and exploration objectives. 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.

Neither the TSX Venture Exchange nor its 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/047eb89d-b359-46cb-b978-f68ebc021eac

https://www.globenewswire.com/NewsRoom/AttachmentNg/9a88bb51-efa0-4bad-b96f-571531393c98

Figure 1

Drilling Localization Plan with Hole LG26-241Figure 2

Cross Section of Drilling Location with Hole LG26-241