Lion One Announces Issuance of Stock Options

North Vancouver, B.C., September 29, 2016 Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSE: LY1), (“Lion One” or the “Company”) announces that options to purchase 1,000,000 common shares of the Company were granted today to the Managing Director of the Company, with an exercise price of $1.25 per share. The options have been granted pursuant to the Company’s 10% rolling stock option plan and will expire two years from the date of grant.

About Lion One

Lion One Metals Limited is a Canadian mining exploration and development company focused on the advancement of its 100% owned and fully permitted high grade Tuvatu Gold Project in Fiji. The Company is led by Walter Berukoff, an entrepreneur with a successful track in various industries including real estate, finance, and mine development. As the founder and original CEO of subsequently acquired companies such as Miramar Mining, Northern Orion Resources, and La Mancha Resources, Mr. Berukoff has developed and operated over twenty mines in seven countries, and is credited for creating over $3 billion in shareholder value.

For more information on the Company and its projects please visit the Company website at www.liononemetals.com.

On behalf of Lion One Metals Limited

“Walter H. Berukoff”

Chief Executive Officer

For further information please contact:

Stephen Mann, Managing Director (Perth, WA) Tel: 604-973-3007

Hamish Greig, VP, Director (Vancouver, BC) Tel: 604-973-3008

Joe Gray, Investor Relations (Vancouver, BC) Tel: 604-973-3004

Toll Free IR Line (North America) Tel: 1-855-805-1250

Email: info@nullliononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.

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