Highlights

• Lux Copper (ASX: LUX) has received adjudication and issuing of 326 additional Alaska state Mining claims covering 210km², expanding the Baird Copper Project approximately nine-fold from 26km² to 236km².

• The expanded tenement package establishes a district-scale footprint in the Western Brooks Range, a world-class polymetallic belt with significant base and critical metals endowment.

• Maiden assay results from the company's completed 2026 drilling campaign at Baird are expected by late-November 2026.

• Lux also holds the Ambler Project (approximately 236km²), adjacent to Trilogy Metals' advanced Arctic and Bornite deposits, providing additional exposure to the prolific Ambler Metallogenic Corridor.

Lux Copper Corp. Ltd (ASX:LUX), an ASX-listed copper and critical minerals explorer focused on Alaska, has announced a major expansion of its flagship Baird Copper Project following the adjudication and issuing of 326 additional state mining claims by the Alaska Department of Natural Resources. The new claims cover approximately 210km², increasing the company's total landholding at Baird from approximately 26km² to approximately 236km² — a nine-fold increase that transforms the scale of the project and consolidates Lux's position across a highly prospective and under-explored mineral district.

Significance of the Expansion

The Western Brooks Range, where the Baird Copper Project is located, is recognised as a world-class polymetallic belt with complex folded and faulted geology that has underpinned significant base and critical metals discoveries. The enlarged Baird footprint now encompasses prospective geological trends contiguous with the existing project area and provides Lux with a substantially greater strategic position over the broader district. CEO James Warren highlighted that the staking was executed early, preventing potential fragmentation of the district and positioning the company to systematically evaluate opportunities across the enlarged project area.

Previous exploration at the Baird Project has highlighted kilometre-scale anomalism, with high-grade copper and zinc results across multiple prospects including the Omar, Frost and Deadfall prospects. The nine-fold expansion of the landholding means these prospects, which were defined on the existing 26km², now sit within a much larger context of contiguous ground that has not been systematically explored. The expanded tenement package provides substantial runway for future target definition and drilling.

Maiden Drilling and Upcoming Catalysts

Lux completed its maiden drilling campaign at the Baird project during the 2026 field season, and assay results are expected by late-November 2026. These maiden assays will represent the first drill-tested results from the company's own exploration at Baird, complementing the historical surface anomalism that attracted the company to the project. Following receipt of the assay results, Lux plans to undertake a geophysics review and drill targeting exercise to refine its understanding of the project's geological structure and prioritise targets for the 2027 field season.

Ambler Project: Second Alaskan Asset

Beyond Baird, Lux also holds the Ambler Project, a district-scale exploration asset of approximately 236km² located in Alaska's prolific Ambler Metallogenic Corridor, adjacent to Trilogy Metals' advanced Arctic and Bornite copper-zinc-lead deposits. The Ambler project has seen no known drilling, property-scale geophysics or detailed surface exploration, representing an entirely grassroots opportunity in a region where the geological setting has already delivered advanced-stage deposits. Its proximity to the proposed Ambler Access Road provides optionality on future logistics.

Key Insights

The nine-fold expansion of Baird's footprint to 236km² at modest relative cost transforms the project from a focused prospect into a district-scale opportunity, significantly increasing the geological search space for future discoveries.

The timing is strategically astute — expanding the landholding now, before maiden drill results are available, secures ground at lower cost relative to what a positive result might command.

The pending maiden assay results from the 2026 drilling campaign are the most significant near-term catalyst for Lux, as they will provide the first direct evidence of the drill-tested potential of the Baird project.

Alaska's well-established mining regulatory environment and the Western Brooks Range's proven track record as a polymetallic belt provide a credible jurisdictional and geological context for the company's activities.