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Energy Junior Mining Lion One Metals Precious Metals

Lion One Records 4741 oz in Quarterly Gold Sales, C$18.0M of Revenue

North Vancouver, British Columbia–(Newsfile Corp. – January 15, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report record quarterly gold sales and gold production from the Tuvatu Gold Mine in Fiji for Q4 CY2024.

Summary of Quarterly Results:

  • 4,741 oz of gold sold
  • 4,300 oz of gold recovered
  • 29,525 tonnes milled
  • Total revenue of C$17,993,020
  • 72% increase in revenue compared to previous quarter

Quarterly Production Results

Lion One Metals sold approximately 4,741 oz of gold and 841 oz of silver during the three-month period ending December 31st, 2024. The average sale price for the quarter was C$3,787 per ounce of gold sold. Total revenue for the quarter was C$17,993,020, which represents a 72% increase in revenue compared to the previous quarter’s revenue of C$10,470,518. Gold revenue for the quarter was enhanced by higher gold prices, improved gold grades and recoveries, and the addition of unsold gold from the previous quarter. Approximately 4,300 oz of gold was recovered during the quarter, compared to 3,638 oz from the previous quarter. This represents an 18% increase in quarter-over-quarter gold production and is a new record for the company.

Table 1. Quarterly Production and Operations Summary

Q4 CY2024Q3 CY2024
Gold soldoz4,7413,129
Silver soldoz8411,093
Total RevenueC$17,993,02010,470,518
Plant throughputtpd321341
Gold gradeg/t5.494.59
Gold recovery%82.5078.20
Gold producedoz4,3003,638

2024 was the first calendar year of production at Tuvatu. The company has achieved consistent quarter-over-quarter increases in gold production, gold recoveries, and gold grades since plant commissioning was complete in Q1 CY2024 (Figure 1). The company is currently in the 300 tpd pilot plant phase of operations, with expansion to the 600 tpd phase of operations anticipated in 2026.

Lion One Chairman and CEO Walter Berukoff stated: “2024 was a pivotal year for Lion One Metals as we brought the Tuvatu mine in Fiji into production at the pilot plant level. We are delighted to have achieved consecutive increases in production every quarter throughout 2024, culminating in a record C$18.0M of quarterly revenue at the end of the year. As we continue to develop the mine and unlock the higher-grade portions of the deposit, we look forward to continuing this trend of increased production at Tuvatu, and ultimately doubling our plant capacity from 300 tpd to 600 tpd in 2026.”

Figure 1. Tuvatu Average Quarterly Gold Grade and Recovery, 2024. Gold grades and recovery have consistently increased quarter-over-quarter at Tuvatu since pilot plant commissioning was complete in Q1 CY2024.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/237264_1bcd9069a4be0830_001full.jpg

Qualified Persons Statement
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237264

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Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Provides Financial Update

Vancouver, British Columbia–(Newsfile Corp. – January 9, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX“) is pleased to announce that the Company ended the year with approximately $27 million in cash and cash equivalents and $35 million in long term debt that matures in July 2029 under an agreement with Franco Nevada Corporation. The Company’s balance sheet was strengthened because of several transactions closing before the end of the December quarter as discussed below.

Sale of Shares in Ensero Holdings Inc (“Ensero”) – Ensero repurchased all our common and preferred share holdings in Ensero for approximately $5.6 million. The Company invested approximately $3.8 million in Ensero in 2020, and since making the investment has earned approximately $1.0 million in dividends. The Company has sold all its holdings in Ensero as of December 31, 2024.

Early Property Payment at Berenguela Royalty Property in Peru – The Company received an early property payment from Aftermath Silver Ltd (“Aftermath”) totaling $2.9 million. Aftermath has one final payment totaling $3.25 million which is due in November 2026. The Company has a sliding-scale net smelter return (NSR) Royalty on all mineral production from the Project for the life of mine commencing at the declaration of commercial production, and includes a 1.0% NSR royalty on all mineral production when the silver market price is up to and including US$25 per ounce, and a 1.25% NSR royalty on all mineral production when the silver market price is over US$25 per ounce and when the copper market price is above US$2 per pound.

Royalty buy-down Completed at Park Salyer Property in Arizona – The Company has received $500,000 from Arizona Sonoran Copper Company Inc. (“Arizona Sonoran”) from the buyback of 1.0% NSR royalty covering the Park Salyer Property which is part of the Arizona Sonoran’s Cactus Property. The buy-down by Arizona Sonoran reduces the Company’s NSR royalty on Park Salyer from 1.5% to 0.5% which is not capped and cannot be reduced.

About EMX – EMX is a precious, and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236492

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Completes Its 5 Million Share Normal Course Issuer Bid Program

Vancouver, British Columbia–(Newsfile Corp. – January 8, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce it has completed its existing Normal Course Issuer Bid (“NCIB”) program announced on February 7, 2024. Under the NCIB, the Company was allowed to purchase for cancellation up to 5,000,000 common shares over a twelve-month period representing approximately 4.45% of the issued and outstanding shares prior to commencement. EMX has purchased for cancellation the full 5,000,000 common shares at an average price of US$1.65 per share totaling approximately US$8.3M including a recently purchased 1,375,600 shares in a block trade from an undisclosed seller at a price of approximately US$1.64 (C$2.35) per share.

About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236472

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Executes Agreement to Sell Four Projects in Western USA to Pacific Ridge Exploration

Vancouver, British Columbia–(Newsfile Corp. – January 8, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that it has executed four separate option agreements (the “Agreements”), all dated January 7, 2025, with Pacific Ridge Exploration Ltd. (TSXV: PEX) (“Pacific Ridge” or “PEX”) for the Ripsey West, Royston, Red Star, and Mineral Hill projects (the “Projects” or individually a “Project”) located in Arizona, Nevada, Utah, and Wyoming, respectively. The Agreements provide EMX with cash payments, an equity stake in PEX, and required work commitments on the Projects during the earn-in period. Additionally, upon earn-in for a given Project, a 3% net smelter return (“NSR”) royalty, annual advance royalty (“AAR”) payments, and milestone payments provide a strong foundation for future upside as the Projects advance.

The Ripsey West Project is a shallow copper porphyry target in central Arizona’s Laramide copper province with exploration potential for both supergene and hypogene mineralization. The Royston Project in western Nevada targets a late Triassic-early Jurassic copper porphyry system. Of note, porphyries of this age have not traditionally been explored for in the region, even though this age of magmatic activity generally displays a stronger gold affinity than Laramide systems. The Red Star Project is a copper porphyry target adjacent to the historical Star mining district in Utah, and has added potential for skarn, manto, and carbonate-replacement deposit (CRD) styles of mineralization. The Mineral Hill Project in eastern Wyoming is centered on an alkaline intrusive complex, which displays both epithermal and copper-gold porphyry exploration potential.

EMX acquired the Projects through the staking of open ground after recognizing overlooked opportunities in districts with historical exploration. EMX’s track record of organically generating new targets in historical mining districts underscores the strength of the Company’s project generation business model.

Commercial Terms Overview (all dollar amounts in USD). Under the terms of the Agreements, subject to the approval of the TSX Venture Exchange, Pacific Ridge can earn 100% interest in each Project over a five-year option period by satisfying the following terms on a per-Project basis: a) upon receipt of regulatory approval, Pacific Ridge will pay $60,000 in cash and issue 200,000 Pacific Ridge shares (on a post 10:1 consolidation basis), and b) Pacific Ridge will also make option payments totaling $180,000, issue 1,175,000 additional shares, and complete $2,250,000 in exploration expenditures over the five-year term of the option agreement.

Upon option exercise by Pacific Ridge, EMX will retain a 3% NSR royalty on each applicable Project; 1% of the royalty may be bought back by first completing an initial 0.5% royalty buyback for a payment of $1,000,000 to the Company prior to the eighth anniversary of the Effective Date of the Agreement. If the first buyback is completed, then the remaining 0.5% of the royalty buyback can be purchased any time prior to production for $3,000,000. Pacific Ridge will also make AAR payments of $25,000 per Project, which will increase by $10,000 per year until reaching a cap of $75,000 per year. In addition, Pacific Ridge will make Project milestone payments consisting of: a) $500,000 upon completion of a Preliminary Economic Assessment, b) $1,000,000 upon completion of a Pre-Feasibility study, and c) $2,000,000 upon completion of a Feasibility Study.

Project Overviews

Ripsey West: The Ripsey West Project spans over 2,161 hectares and consists of 36 unpatented mining claims and eight state exploration leases in central Arizona’s prolific Laramide copper province. Historical exploration by Conoco, Bear Creek, Noranda, BHP, Freeport-McMoRan, and others concentrated on altered and mineralized outcrops adjacent to EMX’s primary target area. These outcrops display distal chlorite-epidote and sericitic alteration over a broad footprint measuring approximately four by six kilometers, with a central zone of moderate sericitic alteration. Locally, structurally controlled zones exhibit strong sericitic alteration and variable copper mineralization. Through a detailed compilation of historical drilling and an iterative structural study, EMX determined that the district has undergone significant tilting of approximately 90 degrees. The historically explored area represents distal alteration and mineralization, along the paleo-eastern margin of the tilted and dismembered porphyry copper system, whereas EMX’s Ripsey West Project targets the core of the system several kilometers to the west. Exploration by a previous partner included two drill holes totaling 649 meters which primarily tested the depth to bedrock. Beneath the post-mineral alluvium, the alteration in the drill holes matches well with the predictive interpretation of the system, but left the target and the core of the porphyry system untested at depth.

Red Star: The Red Star Project covers 3,005 hectares and consists of unpatented mining claims adjacent to the historical Star mining district in Beaver County, Utah. Geologic observations indicate that the source of polymetallic fissure veins and replacements in the Star mining district may be a concealed porphyry copper system. Although historical workers explored for the source porphyry, they misunderstood the timing relationships between the exposed mineralization and intrusive rocks in the area as well as erroneously mapped normal faults as thrust faults. Structural reinterpretation and geochemical zonation patterns in outcropping stratigraphy indicate a westward vector towards a down-faulted block, or blocks, within the Red Star Project. The strongest copper and pathfinder geochemical anomalies occur at the western side of the exposed Paleozoic sedimentary package, coincident with the highest abundance of prospects in the Star district. Recent geophysical datasets, including drone magnetics, induced polarization (IP), and magnetotelluric (MT) surveys, are supportive of a target in the same area independently predicted by geological and geochemical vectors. The abundance of Paleozoic carbonate rocks in the host stratigraphy indicates potential for skarn, manto, and CRD-style mineralization at the Red Star Project, in addition to the target Cu-Mo porphyry.

Royston: The Royston Project spans over 1,830 hectares and consists of 227 unpatented mining claims northwest of Tonopah, Nevada. The Royston Project represents a compelling porphyry prospect within a belt of Jurassic to late Triassic intrusive rocks in the western US, which are underexplored with respect to copper mineralization. Surface exposures and historical drilling reveal a significant zone of quartz-pyrite-sericite “QSP” style alteration in porphyry dikes and surrounding host rocks. Subsequent geological, geochemical, and geophysical work advanced EMX’s understanding of the system and led to the identification of strong vectors based on system-scale zoning of alteration and mineralization. A reconnaissance reverse-circulation (“RC”) drilling campaign was recently conducted which further validated the target concept and outlined a robust porphyry system which has undergone significant post-mineral tilting. Two of the RC drill holes were cased for re-entry with a core rig due to the shallow intersections of intense QSP (-clay) alteration with increasing base metal mineralization downhole. Follow-up core drilling will target the high temperature core of the porphyry system, which has not previously been intersected in drilling.

Mineral Hill: The Mineral Hill Project in eastern Wyoming spans over 600 hectares across 77 unpatented and 19 patented mining claims. The Project is centered on a zoned Eocene-age alkaline intrusive complex with an outer ring, interior intrusive zones, and a central breccia. Historical mining in the late 19th and early 20th centuries produced gold from alluvial deposits, gold and silver from the Treadwell Mine, and gold and copper from the Interocean Mine. EMX and previous partners recognized that the gold and silver mineralization at the Treadwell Mine is associated with lower-temperature adularia-bearing potassic alteration and is consistent with epithermal-style mineralization. In contrast, the gold and copper mineralization at the Interocean Mine is associated with higher-temperature potassic alteration mineral assemblages (including potassium feldspar and biotite), consistent with a porphyry system. Reconnaissance drill programs with previous partners confirmed these two distinct mineralization styles, but never followed up on initial drill results. Mineral Hill’s proximity to significant historical producers, such as the Homestake and Wharf mines, highlights the potential for additional discoveries in this productive belt.

EMX and Pacific Ridge look forward to commencing work on the Projects.

This transaction is another example of the execution of EMX’s business model in providing turn-key and drill ready exploration projects to its partner companies in exchange for royalty interests.

More information on the Projects can be found at www.EMXroyalty.com.

Comments on Adjacent or nearby Districts, Mines, and Deposits. The districts, mines and deposits discussed in this news release provide context for EMX’s projects, which occur in similar geologic settings, but this is not necessarily indicative that the Company’s projects host similar tonnages or grades of mineralization.

Michael P. Sheehan, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information. For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236325

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Purchases Royalty Interest Over Hayasa’s Urasar Project in Armenia

Vancouver, British Columbia–(Newsfile Corp. – January 7, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce the purchase of a 0.625% NSR royalty interest covering all minerals produced from the Urasar gold-copper project in northern Armenia, which is wholly owned and being advanced by Hayasa Metals Inc. (“Hayasa”, (TSXV: HAY), formerly Fremont Gold Ltd. Further to a Joint Acquisition Agreement between EMX and Franco-Nevada Corporation (“Franco”) entered into in 2023 (see EMX News Release dated August 1, 2023), Franco has also acquired a 0.625% NSR royalty.

Commercial Terms Overview. EMX and Franco will pay Hayasa a combined US$1 million (with EMX contributing US$450,000 and Franco contributing US$550,000 in accordance with the terms of the Joint Acquisition Agreement) in exchange for:

  • A 1.25% NSR royalty interest to be shared evenly between EMX and Franco (i.e. each company will receive a 0.625% NSR royalty interest) that covers the Urasar project licenses and a surrounding area of interest; and
  • 500,000 share purchase warrants, which can be exercised on a one-for-one basis for common shares of Hayasa within 18 months at a strike price of C$0.22 per share (EMX and Franco will each receive 250,000 of the share purchase warrants).

As part of the transaction, EMX and Franco will have a right of first refusal in respect of any royalty, stream or similar interest on Urasar.

Overview of the Urasar Project. The Urasar gold-copper project was acquired by Hayasa in 2023 by direct acquisition of an exploration license from the Armenian government following an assessment of the Tethyan Metallogenic Belt by Hayasa that was led by Dennis Moore. Mr. Moore is a well-known and accomplished explorer who is credited with the discoveries of the Tocantinzinho and Cuiu Cuiu gold deposits in Brazil.

The Urasar project is positioned along a regional structural zone that juxtaposes an older package of ophiolitic rocks with younger volcanic and volcaniclastic rocks. Gold and copper mineralization are localized along the contact zones throughout the Urasar exploration license and elsewhere in the region. Urasar saw historic copper production by the French during World War I and was later explored by the Soviets in the 1920’s, 1930’s and 1950’s. Several Soviet era resources were defined (in accordance with the Soviet reporting systems at the time), but virtually no work has been completed since. The styles of mineralization at Urasar bear resemblance to the styles of mineralization in the Sokt gold deposit, the largest developed gold deposit in Armenia. Further information on the project is summarized on Hayasa’s website.

Armenia has seen recent exploration and development efforts by other western companies, including Orion Mine Finance and Osisko Gold Royalties, who are working to develop the Amulsar gold project in southern Armenia. In addition to its modern mining code and favorable fiscal regime, Armenia currently has over ten active metals mines, and mining is a significant contributor to its GDP.

EMX believes that Urasar has potential to become a significant discovery based upon the historical work done on the property, new surface geochemical and geophysical data collected by Hayasa, and overall geological characteristics. The royalty acquisition at Urasar represents the first co-investment between EMX and Franco as part of their Joint Acquisition Agreement.

Comments on Historical Mineral Resources. EMX does not consider the historical mineral resources defined at Urasar during the Soviet era to be compliant with NI 43-101 standards, nor is EMX treating the historic resources as current resources on the project. They are discussed here strictly for their historical context and should not be relied upon until they can be confirmed.

Comments on Nearby Mines and Deposits. The mines and deposits discussed in this news release provide context for EMX’s projects, which occur in similar geologic settings, but this is not necessarily indicative that the Company’s projects host similar styles, tonnages or grades of mineralization.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236237

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Announces Acquisition of a Royalty on the Chapi Copper Mine Property in Peru

Vancouver, British Columbia–(Newsfile Corp. – January 6, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that the Company has entered into a Royalty Agreement (the “Agreement”) with Minera Pampa de Cobre S.A.C. (“MPC”), a Peruvian company focused on restarting production at the Chapi copper mine located south of the city of Arequipa in Peru (the “Chapi Mine“). MPC is owned indirectly by a privately held Canadian company, Quilla Resources Inc. (“Quilla”).

Pursuant to the terms of the Agreement, EMX will acquire a royalty interest of up to 2% of Net Smelter Returns (“NSR“) on minerals produced from the approximately 26,000 hectare property (“Property Royalty”) owned by MPC (see Figure 1), as well as up to a 2% NSR royalty from any minerals that are produced from outside the Property Royalty area, but that are processed at the Chapi Mine processing facilities (“Facilities Royalty”). The Agreement also includes a two-kilometer area of interest (“AOI”) around the Property Royalty area, and any property acquired by MPC within this AOI will also be subject to an NSR royalty of up to 2% (“AOI Royalty”). As consideration for the acquisition of the first 1% of the NSR interests, the Company has paid MPC the amount of US$3,000,000. A second 1% NSR interest can be acquired by EMX, at the election of MPC, for an additional US$7,000,000 until February 28, 2025. The Property Royalty is perpetual and cannot be reduced. The Facilities Royalty and the AOI Royalty will be reduced by half (to either 0.5% NSR or 1% NSR – depending on the MPC election) on July 1, 2034.

EMX’s right to receive royalty payments will be secured by a guarantee from Quilla, and by various personal property and real property security instruments in Peru. EMX’s security interests will be subordinated to those of Hartree Partners, LP (“Hartree”), acting as the first lien lender to MPC and Quilla, in accordance with an intercreditor agreement entered into between EMX, Hartree, MPC, and Quilla.

EMX is excited by the addition of a high-quality copper royalty to the portfolio that has excellent upside development and exploration potential located in the prolific Paleocene-Eocene copper-molybdenum porphyry belt of Southern Peru.

Background on Quilla

Quilla is a newly formed Canadian company that recently (December 2024) acquired MPC from Nexa Resources S.A. (NYSE: NEXA), one of the world’s top zinc producers with operations in Brazil and Peru. Quilla was founded by Victor Gobitz and a select group of shareholders looking to rapidly build an intermediate-sized base metals company. Mr. Gobitz is a senior mining executive who will be transitioning from his role as President and General Manager for the world class Antamina mine in Peru to lead Quilla. Mr. Gobitz has worked with a number of companies in Peru over recent years including Rio Alto Mining, Compañía Minera Milpo (now Nexa Resources Peru), and Compañía de Minas Buenaventura, and from his deep knowledge of the mining industry in Peru has assembled an experienced and accomplished team to quickly execute on Quilla’s plans to restart copper production at Chapi.

Background on the Chapi Mine1

The Chapi Mine is located in southern Peru’s Moquegua and Arequipa Departments at an elevation of approximately 2,750 meters, and has ready access approximately 50 kilometers south-southeast from the city of Arequipa. Historical, small-scale copper production, which is poorly documented, occurred intermittently from the 1930s through the early 1980s. Subsequently, between 2006 and 2012 the Chapi Mine produced approximately 5,000 to 8,500 tonnes per annum, initially of copper sulphates from open-pit and underground mining and heap leaching, and later copper cathodes from open-pit mining, heap leaching, and SX-EW (solvent extraction-electrowinning) processing. The grades mined during 2006-2012 were reported as 0.59% – 1.04% copper. The operations were halted in 2012 due to declining copper prices and operational challenges that were mainly related to insufficient ore control on materials delivered to the leach pads.

The historical Chapi Mine is comprised of two principal open pits, underground workings, a crushing and grinding circuit, heap leach pads, a solvent extraction plant, an electrowinning copper cathode plant, and related infrastructure including mine camp, office facilities, water supply, and power. Since 2012, Chapi has been maintained under care and maintenance with the principal permits for mining operations remaining in place under a temporary suspension.

Chapi Geology and Exploration Upside2

The deposits at Chapi are comprised of sandstone-hosted copper mineralized mantos, partially oxidized and secondarily enriched, that are related to a series of porphyry intrusions. The Chapi Mine lies between, and directly along trend from, some of the world’s largest producing porphyry copper deposits, including Cerro Verde and the Cuajone-Quellaveco-Toquepala cluster (refer to inset in Figure 1). All of these deposits and districts, as well as others, comprise the Paleocene-Eocene Cu-Mo porphyry belt of Southern Peru, and contribute to making Peru the second ranked copper producer in the world.

The ~26,000 hectare land package owned by MPC, and subject to EMX’s royalty interests, includes historical resources based on an extensive drill database that delineates the well-mineralized, leachable manto horizons at Chapi, which are open for potential resource expansion from both open pit and underground exploitation. Porphyritic intrusions, intimately associated with the mineralized mantos, have low-grade copper mineralization in sericitic-altered zones, but also have exploration potential for higher-grade copper mineralization within the porphyry system. Further, although gold assays in the drill database are limited in number, those that are present suggest that gold, not recovered by the historical mining operations, might have wider exploration potential.

Additional, potentially leachable copper-oxide and chalcocite drill-defined mineralization, as well as primary sulphide mineralization, occurs at the Pampa Negra and Candelaria projects, related to porphyritic intrusions and associated supergene manto horizons that are covered by the Property Royalty or by the AOI Royalty. Furthermore, early-stage exploration targets at San Jose (with drilling), and Justicia prospect areas (no drilling) show evidence of porphyry-style mineralization with some evidence for oxidation of primary sulphides. These deposits provide upside potential for processing at the existing Chapi plant subject to further drilling, engineering, and permitting.

Chapi Restart Plans

Quilla’s near-term plan is to restart Chapi Mine operations utilizing the SX-EW process circuit which is designed to produce a nominal 10,000 tonnes per annum of copper cathode, with the option to potentially increase capacity in the future. Initially, the restart plan is contingent on additional drilling and metallurgical test work, updated resource and reserve modelling, rehabilitation of the mining and leach-processing infrastructure, and updated environmental and other permits. Quilla and MPC have raised the necessary capital to complete the Chapi restart program, and anticipate initial production in H1 2026.

Comments on Mines and Districts in the Region. The mines and districts in the region of the Chapi Mine property, which include Cerro Verde and the Cuajone-Quellaveco-Toquepala cluster, provide geological context for EMX’s Chapi royalty property. However, this is not necessarily indicative that the Chapi royalty property hosts similar styles, grades, or tonnages of mineralization.

Comments on Chapi Background, Geology, and Exploration Upside. EMX has not verified the historical information and data from the previous Chapi operators, but believes this information and data to be reliable and relevant. Updated information and data will result from Quilla’s restart program technical work.

Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX – EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. EMX’s Chapi royalty property and AOI, southeast Peru.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/236195_6341df32242d9a93_002full.jpg

1 Background and production information taken from internal, proprietary reports and documents by historical operators, as well as “Memoria Anual” reports filed with the Peruvian government by historical operator Compañia Minera Milpo S.A.A.

2 Geology and exploration upside taken from EMX’s due diligence field review and review of internal, proprietary reports and documents from historical operators, as well as “Memoria Anual” reports filed with the Peruvian government by historical operator Compañia Minera Milpo S.A.A.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236195

Categories
Base Metals Blog Energy Junior Mining

Special Report | The Uranium Miners Opportunity

For the latest standardized performance and holdings of Sprott Uranium ETFs, please visit the individual website pages:  URNM and URNJ. Past performance is no guarantee of future results.

Key Takeaways

  • Uranium Market Consolidation: Thus far in 2024, the uranium spot price has stabilized between $80 to $90 per pound after a significant 88.54% increase in 2023. This phase indicates a healthy correction within a bullish market cycle.
  • Miners’ Catch-Up: Uranium miners have shown improved performance, catching up to gains in the spot price. 
  • Long-Term Contracting Trends: Long-term uranium contract prices point to higher uranium prices as contract ceilings reach $130 per pound.
  • Geopolitical Impacts and Demand: Geopolitical tensions and supply uncertainties persist, influencing uranium supply dynamics. Despite these challenges, global demand remains robust, driven by nuclear reactor restarts and new builds, supporting a sustained bullish outlook for uranium.

Artificial Intelligence and the Need for Electricity

Global electricity demand is estimated to increase by 165% by 2050.2 Surging energy consumption in the East is driven by the urbanization and industrialization of developing countries, while the rise of artificial intelligence (AI), data centers, electrification and reshoring is driving demand in the West.

Figure 1. 

Figure 1. Data center electricity consumption in the US

Source: Boston Consulting Group, the Impact of Electricity. Data as of 12/31/2023.

Globally, data centers’ electricity demand is forecasted to grow 258% from 2023 to 2030.3 Growing demand from global data centers is expected to increase from 1.2% of global electricity supply to 4.1%.4 AI data centers require much more electricity for computing, cooling and other IT infrastructure compared to traditional data centers because of:

  • Higher computational demands from complex algorithms and large datasets
  • Increased workloads and demand for real-time data from continuous, intense computational workloads running 24/7
  • Densely packed servers requiring significant power for cooling requirements

To support the growth of AI, Silicon Valley is increasingly turning to nuclear energy. Firms like Google, Amazon and Microsoft have signed deals to purchase power from nuclear energy providers.5 The benefits of such arrangements are twofold. First, data centers will have access to the reliable baseload power provided by nuclear energy to run their energy-intensive operations. Second, nuclear energy is one of the cleanest forms of energy, and by going nuclear, tech companies can still progress toward their corporate net zero carbon emissions pledges, even as their energy footprints expand.

Why Uranium Miners?

We believe we are in the early stages of a sustained uranium bull market. An already positive outlook was given an additional boost at the COP28 conference in December 2023, where more than 20 nations agreed to triple nuclear energy capacity by 2050. The pledge grew to 31 countries after the COP29 conference in November 2024. Uranium miners stand to benefit from the growing acceptance of nuclear energy.

We anticipate that the uranium supply-demand imbalance will continue through at least 2040. Demand for uranium may outstrip supply and reach a cumulative deficit of 1 billion pounds by 2040. The uranium market may see a cumulative deficit of 2.1 billion pounds when factoring in global net zero pledges.

Figure 2. Uranium Supply and Demand Estimates (2008-2040E)

Source: UxC and Cameco Corp. Data as of 9/30/2024.

Higher uranium prices and more investment in uranium miners are needed to reduce the expected supply shortfall and meet current and future demand. Our focus is on uranium miners, which are upstream in the supply chain. Miners may be less susceptible to some geopolitical risks and may benefit as Western governments seek to secure critical supply chains by incentivizing domestic expansion for uranium miners.

In November 2024, Russia imposed restrictions on the export of enriched uranium to the U.S. This development has the potential to meaningfully impact downstream nuclear companies, such as utilities and enriched uranium importers, as Russia controls about 44% of global uranium enrichment capacity.6

Figure 3. Uranium Miners’ Market Capitalizations Have Grown with Increased Investment7 (2020-2024)

Source: Indxx and Bloomberg. Data as of 10/31/24.

2025 May Provide an Attractive Entry Point for Uranium Miners

After years of growth, uranium miners took a healthy pause amidst the broader uranium bull market. Off recent highs, spot uranium prices spent much of 2024 between $80 and $90 per pound before moving lower to $75 to $80 in Q4. Uranium miners tend to offer leverage to the price of uranium (see Figure 4), outperforming in rising markets while underperforming in falling markets. However, as a group, uranium miners showed resiliency in 2024, having outperformed the spot market as of the time of this writing.

Figure 4. Uranium Miners vs. Spot Uranium (2014-2024)

Source: Bloomberg and TradeTech LLC. Data from 9/30/2014 to 9/30/2024. World Uranium Equities measured by URAX Index, which tracks the performance of stocks globally that conduct business with uranium. URAX and Uranium Spot denominated in U.S. dollars.

Despite the bull market pause, the underlying fundamentals for uranium improved with positive support from technology companies, accelerating supply and demand constraints, and continued advancement on the political front. Among market developments in 2024 were:

  • The ban of importing Russian-enriched uranium by the United States by no later than 2027. This action was met with a preemptive Russian ban on exporting enriched uranium to the United States.
  • The announcement of plans to restart the Palisades Nuclear Plant in Michigan8 and Three Mile Island in Pennsylvania.9 
  • Talen Energy’s announcement of its sale of a nuclear-powered data center to Amazon.10
  • Meta’s requests for proposals to identify nuclear energy developers to help the company meet its AI innovation and sustainability objectives.11

We believe 2025 may represent an attractive buying opportunity for investors amid increasingly positive fundamentals.

Sprott Uranium Miners ETF (Ticker: URNM)

URNM provides focused pure-play12 exposure to uranium mining equities. Pure-play companies devote at least 50% of their assets to the uranium mining industry, including mining, exploration, development and production of uranium, holding physical uranium, owning uranium royalties or engaging in other non-mining activities supporting the uranium mining industry.

  • Only13 U.S.-listed ETF to provide targeted pure-play exposure to senior and junior uranium miners and physical uranium
    • Aggregate weight of 82.5% of the index is assigned to uranium miners, explorers, developers and producers
    • An aggregate weight of 17.5% of the index is allocated to entities that hold physical uranium, uranium royalties or other non-mining assets
  • Traditional market portfolios may provide very little, if any, exposure to uranium miners. Investors may consider adding URNM to existing portfolios to:
    • Diversify energy exposure traditionally allocated to the oil and gas sector
    • Provide growth potential as part of a thematic or growth allocation

URNM Is Part of the Sprott Critical Materials Suite of ETFs

Sprott Critical Materials ETFs

Footnotes

1Source: Boston Consulting Group, the Impact of Electricity.
2Source: IEA World Energy Outlook 2023 Net Zero Emissions Scenario.
3Source: International Energy Agency, World Energy Outlook 2023.
4Source: International Energy Agency, World Energy Outlook 2023.
5Source: Reuters, Microsoft deal propels Three Mile Island restart, with key permits still needed.
6Source: Reuters, Russia restricts enriched uranium exports to the United States.
7Source: Indxx and Bloomberg, as of 10/31/24.
8Source: The New York Times, U.S. Approves Billions in Aid to Restart Michigan Nuclear Plant.
9Source: Reuters, US nuclear regulator kicks off review on Three Mile Island restart.
10Source: NuclearNewswire, Amazon buys nuclear-powered data center from Talen.
11Source: Meta, Accelerating the Next Wave of Nuclear to Power AI Innovation.
12The term “pure-play” relates directly to the exposure that the Fund has to the total universe of investable, publicly listed securities in the investment strategy.
13Based on Morningstar’s universe of Natural Resources Sector Equity ETFs as of 9/30/2024.
Categories
Junior Mining Lion One Metals Precious Metals

Lion One Drills 1517.79 g/t Gold over 0.3 M at Tuvatu Gold Mine in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – December 17, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from Zone 5 infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Assay results are presented here for infill and grade control drilling in the Zone 5 area of Tuvatu. Drill results include multiple bonanza grade gold assays such as 1517.79 g/t, 513.50 g/t, 113.76 g/t, 137.50 g/t, and 115.25 g/t (see Table 1 below). These results are all located proximal to underground development in the near-surface portion of the mine. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes. Previous drill results from the Zone 5 area are available in the June 12, 2024, June 5, 2024, and December 13, 2023 news releases.

Top New Drill Results:

  • 1517.79 g/t Au over 0.3 m (TGC-0237, from 42.6 m depth)
  • 513.50 g/t Au over 0.3 m (TGC-0263, from 60.47 m depth)
  • 67.45 g/t Au over 0.75 m (TGC-0254, from 90.75 m depth)
  • 17.89 g/t Au over 2.7 m (including 113.76 g/t Au over 0.3 m) (TGC-0225, from 94.6 m depth)
  • 25.73 g/t Au over 1.8 m (including 96.78 g/t Au over 0.4 m) (TGC-0251, from 46.9 m depth)
  • 18.42 g/t Au over 2.5 m (including 62.83 g/t Au over 0.4 m) (TGC-0240, from 44.0 m depth)
  • 30.99 g/t Au over 1.4 m (including 137.50 g/t Au over 0.3 m) (TGC-0239, from 97.8 m depth)
  • 64.25 g/t Au over 0.6 m (TGC-0256, from 98.11 m depth)
  • 72.55 g/t Au over 0.5 m (TGC-0245, from 91.0 m depth)
  • 115.25 g/t Au over 0.3 m (TGC-0250, from 52.7 m depth)

*All drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 for additional data.

Figure 1. Location of the Zone 5 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 5 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Yellow dashed square represents the area shown in the right image. Right image: Oblique view of Zone 5 drilling looking approximately east-northeast. Zone 5 drilling is targeting the up-dip and down-dip extensions of the mineralized lodes above and below current underground developments, shown in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/234067_b75a094e047079b4_001full.jpg

Table 1. Highlights of composited grade control and infill drill results in the Zone 5 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 3 in the appendix.

Hole IDFrom (m)To (m)Width (m)Au (g/t)
TGC-023742.642.90.31517.79
TGC-026360.560.80.3513.50
TGC-025490.891.50.867.45
TGC-022594.697.32.717.89
including95.897.01.237.40
which includes96.196.40.3113.76
TGC-025146.948.71.825.73
including46.947.60.759.42
which includes47.247.60.496.78
TGC-024044.046.52.518.42
including46.146.50.462.83
TGC-023997.899.21.430.99
including97.898.10.3137.50
TGC-025698.198.70.664.25
TGC-024591.091.50.572.55
TGC-025052.753.00.3115.25
TGC-024761.162.61.519.11
TGC-021269.569.80.390.50
TGC-022425.828.52.79.85
including25.826.40.627.65
TGC-025957.457.70.386.50
TGC-023192.896.03.27.59
including95.095.60.626.34
TGC-021061.262.71.515.70
including62.162.40.357.08
TGC-022890.891.10.377.50
TGC-024789.189.40.375.86
TGC-026197.1100.23.27.00
including97.898.10.326.35
and98.198.40.415.55
TGC-026363.265.62.48.98
including63.564.10.626.30
TGC-021290.390.90.633.92
including90.390.60.358.64
TGC-022628.528.80.363.72


*All drill intersects are downhole lengths

Zone 5 Drilling

The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit and is interpreted to be the feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1000 m depth.

The drilling reported in this news release targeted the near-surface portions of the UR2 and URW3 lodes. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes, directly above and below current underground developments. The drilling targeted a 320 m strike length of the UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that of the URW3 lode is approximately 330 m. Both lodes remain open along strike and at depth.

Zone 5 grade control drilling is being conducted from three underground locations: the 1130 drill cuddy, the 1135 drill cuddy, and the 1090 drill cuddy. These drillholes are designed to intersect the mineralized lodes in a perpendicular to sub-perpendicular orientation such that the mineralized intervals approximate the true width of the lodes. Grade control drilling is being conducted on 10 m centers to provide a detailed understanding of the geometry and mineralization of the Zone 5 lodes. The purpose of the current Zone 5 grade control drill program is to enhance the mine model and inform stope design in advance of mining in the target areas. Highlights of the Zone 5 drilling reported here are shown in Figure 2.

Figure 2. Zone infill and grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. View is looking down with north to the left. The primary areas targeted by the Zone 5 drilling are the up-dip and down-dip areas of the UR2 and URW3 lodes above and below current underground developments. These areas are scheduled for near-term mining. Drill holes are oriented perpendicular to sub-perpendicular to the mineralized lodes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/234067_b75a094e047079b4_002full.jpg

Competent Persons Statement

The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 23 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

Table 2. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Hole IDEastingNorthingElevationAzimuthDipDepth
TGC-02101876384392043096114.620.985.8
TGC-02111876384392042996140.521.685.6
TGC-02121876381392053213180.514.3115.3
TGC-02131876383392062812965.012.5125.0
TGC-02141876384392043296106.722.170.8
TGC-021518763803920529130134.26.3150.0
TGC-02161876384392043195127.714.581.2
TGC-02171876383392062812960.716.4135.0
TGC-02181876384392043195117.214.781.0
TGC-021918763803920529130129.28.6140.3
TGC-02201876383392062713080.521.811.2
TGC-02211876384392043096105.922.268.1
TGC-02221876384392042996115.820.511.0
TGC-02231876384392042496154.822.9180.0
TGC-022418763803920530130124.94.8140.0
TGC-02251876382392062712976.422.4115.0
TGC-022618763803920529130125.611.1140.2
TGC-02271876384392042594155.6-1.8181.1
TGC-022818763803920530130120.88.5140.0
TGC-02291876383392062712975.915.311.2
TGC-02301876383392042496170.722.4268.4
TGC-02311876383392062712977.315.4115.1
TGC-02321876383392062712776.2-49.211.2
TGC-02331876384392062712778.0-48.5166.4
TGC-02341876381392053112998.3-19.199.8
TGC-02351876384392062712780.0-36.511.1
TGC-02361876383392062712879.8-36.1146.0
TGC-02371876384392042895108.113.782.5
TGC-02381876381392053112990.7-13.710.7
TGC-02391876381392053112990.7-19.4130.8
TGC-0240187638439204289599.913.0122.2
TGC-02411876383392062712982.819.2110.0
TGC-0242187638439204289592.013.295.4
TGC-02431876384392062612795.7-37.1140.1
TGC-0244187638439204299584.813.7100.7
TGC-02451876381392053212988.0-13.6130.8
TGC-024618763843920625127114.9-28.7140.0
TGC-0247187638439204309483.7-4.0110.3
TGC-02481876378392053212982.4-15.3130.9
TGC-024918763843920626127103.4-31.1140.1
TGC-0250187638439204299497.3-3.8110.0
TGC-02511876384392042994105.1-4.486.0
TGC-02521876381392053212976.0-18.324.6
TGC-02541876380392053212975.9-15.1130.0
TGC-02551876384392042894114.5-4.180.0
TGC-02561876381392053112892.7-22.1136.9
TGC-02571876384392042894123.3-4.480.2
TGC-02591876384392042794131.0-4.783.1
TGC-026118763803920530129115.1-11.2140.0
TGC-0263187638439204299482.2-7.8120.8

Table 3. Composite results from drillholes reported in this news release (composite grade >3.0 g/t Au)

Hole IDFrom (m)To (m)Width (m)Au (g/t)
TGC-021040.540.80.36.12
TGC-021045.046.21.26.36
TGC-021047.447.70.35.45
TGC-021061.262.71.515.70
including61.262.10.94.08
and62.162.40.357.08
and62.462.70.39.20
TGC-021065.465.70.326.66
TGC-021078.679.81.27.59
including78.678.90.34.46
and78.979.20.30.82
and79.279.80.612.54
TGC-021163.663.90.39.60
TGC-021166.366.90.621.85
including66.366.60.339.97
and66.666.90.33.72
TGC-021237.139.82.74.56
including37.137.40.315.20
and37.437.70.32.58
and37.738.00.31.89
and38.038.30.35.06
and38.338.90.60.13
and38.939.20.30.24
and39.239.50.35.90
and39.539.80.39.87
TGC-021241.041.60.63.63
TGC-021243.144.61.59.17
including43.144.00.913.38
and44.044.30.3<0.01
and44.344.60.35.71
TGC-021269.569.80.390.50
TGC-021274.775.60.94.69
including74.775.00.33.65
and75.075.30.36.36
and75.375.60.34.06
TGC-021286.186.70.611.45
including86.186.40.37.81
and86.486.70.315.09
TGC-021290.390.90.633.92
including90.390.60.358.64
and90.690.90.39.19
TGC-021398.098.30.338.50
TGC-021445.348.02.74.22
including45.345.60.33.75
and45.645.90.35.00
and45.946.20.30.96
and46.246.50.31.95
and46.546.80.315.32
and46.847.10.32.40
and47.147.40.31.66
and47.447.70.33.33
and47.748.00.33.62
TGC-021515.615.90.310.00
TGC-021537.838.40.66.20
TGC-021597.597.80.310.02
TGC-0215103.8104.10.33.62
TGC-0215106.5107.40.95.97
including106.5106.80.35.02
and106.8107.10.31.55
and107.1107.40.311.35
TGC-0215109.8111.01.213.19
including109.8110.10.315.89
and110.1110.40.322.48
and110.4110.70.36.27
and110.7111.00.38.11
TGC-0215126.9127.50.619.12
including126.9127.20.314.40
and127.2127.50.323.83
TGC-0217112.7114.51.86.14
including112.7113.00.33.02
and113.0113.30.310.87
and113.3113.90.67.23
and113.9114.50.64.24
TGC-021843.844.40.69.60
TGC-021861.562.71.29.29
including61.561.80.34.44
and61.862.10.30.19
and62.162.40.326.78
and62.462.70.35.76
TGC-021866.366.90.63.50
TGC-021931.531.80.34.30
TGC-021947.447.70.35.45
TGC-021954.355.51.23.55
TGC-021958.558.80.35.22
TGC-021997.898.10.39.99
TGC-0219111.9112.20.36.35
TGC-0219126.0126.30.311.82
TGC-022144.747.42.74.03
including44.745.00.310.99
and45.045.30.32.47
and45.345.60.33.47
and45.645.90.30.24
and45.946.20.3<0.01
and46.246.50.35.82
and46.546.80.36.03
and46.847.10.30.50
and47.147.40.36.71
TGC-022375.676.20.67.46
TGC-022378.679.20.64.90
TGC-022391.492.00.67.78
TGC-022425.828.52.79.85
including25.826.40.627.65
and26.427.30.95.49
and27.327.60.32.18
and27.627.90.33.23
and27.928.50.65.75
TGC-022457.257.50.348.09
TGC-022491.792.91.28.81
including91.792.30.67.73
and92.392.90.69.89
TGC-0224116.0116.60.65.83
TGC-0224136.1137.00.93.33
TGC-022593.794.00.34.56
TGC-022594.697.32.717.89
including94.694.90.34.50
and94.995.10.23.66
and95.195.50.4<0.01
and95.595.80.31.31
and95.896.10.319.08
and96.196.40.3113.76
and96.496.70.39.14
and96.797.00.37.62
and97.097.30.33.16
TGC-022619.820.40.610.58
including19.820.10.317.32
and20.120.40.33.84
TGC-022628.528.80.363.72
TGC-022641.041.30.39.70
TGC-022655.456.00.63.10
TGC-022656.356.60.34.68
TGC-022658.158.40.318.52
TGC-022688.488.70.33.97
TGC-022691.792.91.25.75
including91.792.00.319.58
and92.092.30.30.07
and92.392.60.30.12
and92.692.90.33.22
TGC-0226104.3104.60.35.89
TGC-0226110.6110.90.37.13
TGC-0226111.8112.10.34.46
TGC-0227100.7101.00.336.04
TGC-0227169.6169.90.33.12
TGC-022814.915.60.83.39
TGC-022821.523.01.56.25
including21.521.80.34.60
and21.822.20.46.43
and22.222.60.48.77
and22.623.00.44.65
TGC-022832.833.40.629.89
TGC-022854.755.30.616.78
TGC-022857.858.50.712.64
TGC-022887.389.32.09.20
including87.387.60.321.49
and87.688.40.8<0.01
and88.489.30.912.98
TGC-022890.891.10.377.50
TGC-0228101.4101.70.34.80
TGC-0228108.5108.80.341.99
TGC-023192.896.03.27.59
including92.893.30.57.66
and93.393.80.51.06
and93.894.30.54.04
and94.394.60.30.18
and94.695.00.53.60
and95.095.60.626.34
and95.696.00.54.31
TGC-023424.524.80.318.69
TGC-023444.847.12.36.03
including44.845.10.33.15
and45.145.40.30.30
and45.445.90.5<0.01
and45.946.50.616.87
and46.546.80.34.07
and46.847.10.34.96
TGC-023450.751.00.35.70
TGC-023452.252.80.67.07
TGC-023454.955.80.93.90
TGC-023488.388.90.67.39
TGC-023490.692.01.43.62
including90.690.90.36.06
and90.991.70.80.35
and91.792.00.39.92
TGC-0236116.5117.10.64.41
TGC-023742.642.90.31517.79
TGC-023745.046.51.511.79
including45.045.30.341.53
and45.345.90.64.84
and45.946.50.63.86
TGC-023762.362.60.34.70
TGC-023997.899.21.430.99
including97.898.10.3137.50
and98.198.90.80.51
and98.999.20.35.75
TGC-024044.046.52.518.42
including44.044.30.35.90
and44.344.60.3<0.01
and44.644.90.38.88
and44.945.80.916.99
and45.846.10.33.98
and46.146.50.462.83
TGC-024066.767.00.36.15
TGC-0240102.6102.90.34.33
TGC-0240117.8118.40.614.67
TGC-024192.294.22.04.91
including92.293.10.96.40
and93.193.70.61.15
and93.794.20.56.71
TGC-024261.661.90.311.58
TGC-024271.671.90.33.70
TGC-024272.873.81.04.48
including72.873.50.73.34
and73.573.80.36.95
TGC-024455.456.30.94.97
including55.455.70.35.24
and55.756.30.64.83
TGC-024476.278.52.38.37
including76.276.80.613.71
and76.877.40.69.23
and77.478.20.80.56
and78.278.50.315.73
TGC-024484.185.00.94.37
TGC-024582.682.90.33.76
TGC-024591.091.50.572.55
TGC-0245103.9104.20.38.42
TGC-0246131.7132.00.34.01
TGC-0246134.0134.90.915.07
including134.0134.30.331.99
and134.3134.60.39.12
and134.6134.90.34.10
TGC-0246136.4137.30.95.62
including136.4137.00.65.08
and137.0137.30.36.69
TGC-024743.543.80.320.55
TGC-024751.051.60.67.11
TGC-024761.162.61.519.11
including61.161.40.39.08
and61.461.80.49.67
and61.862.60.827.59
TGC-024781.982.20.316.11
TGC-024784.985.20.312.24
TGC-024786.487.30.910.89
including86.487.00.69.59
and87.087.30.313.50
TGC-024789.189.40.375.86
TGC-024853.353.60.34.22
TGC-024855.155.60.44.48
TGC-024859.159.50.43.54
TGC-024861.261.60.43.96
TGC-024867.567.80.34.96
TGC-024888.088.50.524.99
TGC-024892.092.60.611.13
including92.092.30.39.59
and92.392.60.312.67
TGC-024899.399.60.36.21
TGC-0248103.2103.50.34.44
TGC-025045.646.30.76.21
including45.645.90.39.10
and45.946.30.44.05
TGC-025052.753.00.3115.25
TGC-025057.358.91.67.13
including57.357.60.36.64
and57.657.90.33.52
and57.958.20.31.71
and58.258.50.31.42
and58.558.90.418.55
TGC-025068.168.50.45.28
TGC-025069.569.90.43.13
TGC-025146.948.71.825.73
including46.947.20.39.60
and47.247.60.496.78
and47.648.40.80.10
and48.448.70.315.50
TGC-025163.864.50.85.56
including63.864.20.55.93
and64.264.50.34.99
TGC-025454.254.50.39.48
TGC-025458.358.90.612.55
TGC-025490.891.50.867.45
TGC-0254101.9102.20.317.89
TGC-0254106.1106.40.34.02
TGC-025549.950.20.39.89
TGC-025561.561.80.36.67
TGC-025692.893.70.914.66
including92.893.10.36.31
and93.193.40.30.07
and93.493.70.337.59
TGC-025698.198.70.664.25
TGC-0256108.3108.90.63.46
TGC-025751.254.53.35.26
including51.251.50.33.66
and51.552.10.60.09
and52.152.50.415.98
and52.553.00.60.95
and53.053.30.39.58
and53.353.60.3<0.01
and53.653.90.34.80
and53.954.20.30.12
and54.254.50.316.79
TGC-025756.957.50.710.19
including56.957.20.414.58
and57.257.50.34.92
TGC-025957.457.70.386.50
TGC-025960.061.91.96.98
including60.060.30.34.31
and60.360.60.30.78
and60.660.90.3<0.01
and60.961.91.011.99
TGC-026120.120.50.43.19
TGC-026125.326.71.33.54
including25.325.60.39.99
and25.625.90.3<0.01
and25.926.40.40.06
and26.426.70.35.74
TGC-026133.334.41.15.62
including33.333.60.33.60
and33.633.90.37.12
and33.934.40.55.89
TGC-026161.661.90.45.34
TGC-026163.564.30.84.93
TGC-026195.996.20.36.58
TGC-026197.1100.23.27.00
including97.197.40.33.76
and97.497.80.40.18
and97.898.10.326.35
and98.198.40.415.55
and98.498.70.34.96
and98.799.10.39.95
and99.199.40.40.27
and99.499.90.50.04
and99.9100.20.38.31
TGC-0261115.1115.50.43.85
TGC-0261121.9123.21.311.74
including121.9122.20.334.63
and122.2122.60.40.08
and122.6122.90.33.62
and122.9123.20.311.33
TGC-0261130.6130.90.36.02
TGC-026360.560.80.3513.50
TGC-026363.265.62.48.98
including63.263.50.35.61
and63.564.10.626.30
and64.164.40.35.39
and64.464.70.30.33
and64.765.00.30.96
and65.065.60.63.48
TGC-026378.679.50.95.99
including78.678.90.33.82
and78.979.50.67.08
TGC-026383.684.20.65.08
TGC-026385.485.70.33.66
TGC-026391.892.10.322.76
TGC-026397.898.10.39.45

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234067

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Announces Results of Annual and Special General Meeting

North Vancouver, British Columbia–(Newsfile Corp. – December 12, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to announce the results of the Company’s annual and special general meeting of shareholders (the “Meeting”) held on December 12, 2024.

At the Meeting, the number of directors of the Company was set at three (3) with the following directors re-elected at the Meeting: Walter Berukoff, Richard Meli, and Kevin Puil. In addition, shareholders of the Company approved the Company’s Omnibus Equity Incentive Compensation Plan as described in the management information circular dated October 29, 2024 (the “Circular”) as well as the re-appointment of Davidson & Company LLP, Chartered Professional Accountants as the auditor of the Company for the ensuing fiscal year.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: info@liononemetals.com
Phone: 1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233639