Vancouver, British Columbia--(Newsfile Corp. - October 20, 2026) - Lunex Metals Corp. (TSXV: LUNX) ("LUNX" or the "Company") is pleased to announce that the Company has completed the first-year anniversary option payment to Magna Terra Minerals Inc. (TSXV: MTT) ("Magna Terra") in respect of the Luna Roja Project located in the prolific Deseado Massif region of Santa Cruz Province, Argentina ("Luna Roja" or the "Project").
"The completion of our first-year anniversary option payment represents another important milestone for Lunex as we continue to advance toward earning a 100% interest in the Luna Roja Project," commented Pablo Cortegoso, Chief Executive Officer of Lunex Metals. "We believe Luna Roja represents a compelling gold and silver exploration opportunity within Argentina's prolific Deseado Massif, a region that hosts numerous significant precious metals deposits. With our TSX Venture Exchange listing now complete, our focus is on systematically advancing exploration at Luna Roja, building upon the Project's geological potential and positioning Lunex to deliver meaningful value for our shareholders."
Pursuant to an option agreement dated October 6, 2025, as amended September 25, 2026, Lunex can earn a 100% interest in the Project for total consideration of C$2,375,000 payable in cash and Lunex common shares as outlined below:
| Luna Roja Option Terms (C$) | |||
| Term | Cash | Cash / Common Shares | Total |
| 60-day exclusivity period (paid) | $75,000 | - | $75,000 |
| On signing of definitive agreement (paid) | $100,000 | - | $100,000 |
| 1st Anniversary (paid) | $125,000 | $275,000 by way of issuance of 1,018,519 common shares | $400,000 |
| 2nd Anniversary | $125,000 | $375,000 in common shares | $500,000 |
| 3rd Anniversary | $125,000 | $475,000 in cash or common shares | $600,000 |
| 4th Anniversary | $125,000 | $575,000 in cash or common shares | $700,000 |
| TOTAL | $2,375,000 | ||
The 1,018,519 Lunex common shares issued to Magna Terra were issued on October 6, 2026 and are subject to a four-month hold in accordance with Canadian securities laws.
About Lunex Metals Corp.
Lunex Metals Corp. (TSXV: LUNX) is a Canadian mineral exploration company focused on the discovery and advancement of high-potential gold and silver assets in Argentina. The Company's flagship Luna Roja Project encompasses approximately 10,000 hectares across three contiguous mining concessions in the prolific Deseado Massif of Santa Cruz Province, Argentina, a globally recognized precious metals district hosting numerous significant epithermal gold-silver deposits and producing mines.
Supported by an experienced management and technical team with extensive experience in Argentina's mining sector, Lunex is committed to systematically advancing Luna Roja through disciplined exploration, technical excellence and strategic capital allocation, with the objective of making significant precious metals discoveries and creating long-term value for shareholders.
Pablo Cortegoso
Chief Executive Officer
e: Pablo.cortegoso@andina360.com
t: +1 720-734-6944
Cautionary Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond Company's control. There are no assurances that the business plans described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's disclosure filings with Canadian securities regulators, which are posted on the Company's profile at www.sedarplus.ca.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319719
Source: Lunex Metals Corp.