SECOND QUARTER 2010 FINANCIAL RESULTS

Toronto, August 26, 2010 LEXAM EXPLORATIONS INC. (TSX-V:LEX) today reported financial results for the Second Quarter, 2010. The Company recorded a net loss of $323,193 ($0.01 per share) versus a net profit of $59,416 ($0.00 per share) for the respective period, 2009. The market value of securities, cash and other monetary assets minus liabilities was approximately $30.3 million at the end of the Second Quarter, 2010 versus $35.5 million at December 31, 2009.