New Canadian firm moves closer to acquiring 64km2 mineral claims

Aug 10, 2026 News

(Kaieteur News) One of the newest entries into Guyana’s mining sector is moving closer to acquire mineral claims covering approximately 64.75 square kilometres (km²) in the northwest mining district, in a deal valued at US$1.1M.

Following the execution of its letter of intent announced on 14^th July, 2026, Lexston Mining Corporation’s wholly owned subsidiary, Lexston Guyana Inc., has commenced drafting a definitive purchase agreement with claim‑holder Joseph Jardine.

The definitive agreement is intended to set out the terms for Lexston to acquire a 100% interest in 15 mineral claims in Region One, Mining District Five, Northwest Guyana.

Chief Executive Officer (CEO) of Lexston Jag Bal stated, “We have commenced work on the definitive agreement as our team evaluates these prospective claims in the Guiana Shield. We look forward to working collaboratively with Mr. Jardine to finalise the formal terms.”

Map of the mineral claims

Under the proposed transaction, Lexston Guyana will pay a total of US$1.1M in structured cash payments. The company has already paid an initial refundable deposit of US$25,000, with the remaining payments to be made over a five-year period following the receipt of the required approvals.

The agreement also provides for Jardine to retain a two percent net smelter royalty (NSR) on future production from the property, while maintaining operational rights to any alluvial gold found on the property.

Lexston said the contemplated transaction remains subject to the parties agreeing on and executing the definitive agreement and to receipt of all required approvals. “There can be no assurance that the transaction will be completed on the terms described herein or at all,” the company added.

Lexston’s arrival adds to a growing wave of Canadian gold interest in Guyana. Over 10 Canadian companies are already advancing gold projects across the country’s mining districts — most concentrated in Region Seven, the Cuyuni-Mazaruni Mining District, long recognised for its gold potential. Five of those companies have published Proven and Probable Reserves and Indicated Mineral Resource Estimates totaling 15.7 million ounces of gold while the rest remain at earlier exploration stages.

Lexston Corporation had revealed that it decided to establish a presence in Guyana after an internal evaluation identified opportunities in the country’s gold-rich districts. The move follows the company’s recent engagement of Dentons Delany Inc., an international law firm with a Guyana office, and a site visit by Lexston representatives to assess prospects firsthand.

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Cuyuni-Mazaruni Mining District, Lexston Mining Corporation, Map of the mineral claims, Mining District Five

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