THIRD QUARTER 2009 RESULTS

Toronto, November 30, 2009 LEXAM EXPLORATIONS INC. (TSX-V:LEX) (PINK SHEETS:LEXEF) today reported financial results for the Third Quarter, 2009. The Company recorded net earnings of $1,664,740 ($0.03 per share) as compared to $588,263 ($0.01 per share) for the Third Quarter, 2008. The market value of securities, cash and other monetary assets minus total liabilities increased to approximately $38.6 million during the Third Quarter, 2009 versus $11.0 million in the respective period, 2008 and $16.5 million at the end of the Second Quarter, 2009.