2025 News Releases

North Vancouver, British Columbia, May 1, 2025 – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") is pleased to report significant new high-grade gold results from 4,123.8 meters of underground infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji (“Tuvatu”). The drilling is focused on the Zone 5 area of the deposit, which is currently being mined.

Drilling was conducted from two near surface underground drill stations. The Company intersected high-grade mineralized structures in 29 drill holes targeting the UR2 lode down-dip of current underground developments. Most of the drill holes did not exceed 150 m in length and most of the high-grade drill intercepts are located within 50 m of current underground workings. Drill results include multiple bonanza grade gold intercepts over narrow widths, such as 236.00 g/t over 0.4 m, 101.58 g/t over 0.5 m, 102.35 g/t over 0.3 m, 94.23 g/t over 0.3 m, and 89.63 g/t over 0.4 m. Due to the proximity of drill results to existing workings there is a strong probability that these intercepts can be incorporated into the mine plan in the next six to twelve months.

Tuvatu is a high-grade narrow vein alkaline gold deposit and bonanza grade drill results are not uncommon on the project. In January the Company released the highest grade assay ever returned from Zone 5 drilling; 2,749.86 g/t over 0.3 m (see press release dated January 23, 2025). Previous high-grade drill results from Zone 5 include 1,517.79 g/t gold over 0.3 m (see press release dated December 17, 2024), 1,568.55 g/t over 0.3 metres (see press release dated June 5, 2024), and 1,986.23 g/t gold over 0.6 m (see press release dated December 13, 2023).

Highlights of New Drill Results:

  • 236.00 g/t Au over 0.4 m (TGC-0345, from 109.42 m depth)
  • 25.89 g/t Au over 3.0 m (including 101.58 g/t Au over 0.5 m g/t) (TGC-0359, from 110.7 m depth)
  • 16.85 g/t Au over 3.0 m (including 38.27 g/t Au over 0.9 m) (TGC-0339, from 104.7 m depth)
  • 18.26 g/t Au over 2.5 m (including 89.63 g/t Au over 0.4 m) (TGC-0332, from 67.14 m depth)
  • 15.36 g/t Au over 2.7 m (including 47.25 g/t Au over 0.3 m) (TGC-0343, from 75.3 m depth)
  • 27.08 g/t Au over 1.5 m (including 94.23 g/t over 0.3 m) (TGC-0343, from 61.7 m depth)
  • 16.34 g/t Au over 2.3 m (including 23.57 g/t over 0.6 m) (TGC-0335, from 102.1 m depth)
  • 29.44 g/t Au over 1.3 m (including 102.35 g/t Au over 0.3 m) (TGC-0347, from 108.96 m depth)
  • 25.96 g/t Au over 1.4 m (including 43.58 g/t Au over 0.6 m) (TGC-0343, from 68.9 m depth)
  • 14.23 g/t Au over 2.4 m (including 23.37 g/t Au over 0.4 m) (TGC-0327, from 101.9 m depth)

*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.

Figure 1. Location of the UR2 drilling reported in this news release. Left image: Plan view of the UR2 drilling in relation to the UR2 lode shown in green and other mineralized lodes shown in grey, with Tuvatu underground development shown in red. Yellow dashed square represents the area shown in the right image. Right image: Section view of the UR2 drilling looking West.

Zone 5

The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south and northeast-southwest oriented lodes at Tuvatu, as well as several western lodes. 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 a major 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 portion of the UR2 lode down-dip of current underground developments. The UR2 lode is one of the main north-south oriented lodes at Tuvatu. It has a strike length of approximately 600 m and dips steeply to the east. Mine development is currently taking place along the UR2 lode at the 1100 and 1102 levels of the mine, which are the deepest levels in Zone 5, as well as at the 1134 level of the mine. The drilling reported here was conducted from two underground drill stations; the 1090 drill station and the 1135 drill station. Drilling from the 1090 drill station targeted a 60 m wide section of the UR2 lode between 30 m and 50 m below the 1100 level at the south end of the lode. Drilling from the 1135 drill station targeted a 100 m wide section of the UR2 lode approximately 10 m above and 10 m below the 1102 level in the middle portion of the lode.

The UR2 drill program consists of infill and grade control drilling with the purpose of providing a detailed understanding of the geometry and mineralization of the UR2 lode in advance of mining. Drilling is being conducted on 10 m centers. 29 out of the 32 drill holes reported in this news release intersected high-grade mineralization. Most of the high-grade intervals reported in this release are located within 50 m of underground developments and are anticipated to be included in the mine plan in the next 6 to 12 months. One additional hole (TGC-0311) was drilled to test a deeper portion of the UR2 lode and returned several high-grade intercepts approximately 80 m below the 1102 level. Highlights of the Zone 5 drilling reported here are shown in Figure 2.

Figure 2. UR2 drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Oblique view looking down to the NW. The drill holes shown here primarily targeted areas of the UR2 lode scheduled for near-term mining below current underground developments.

Note on Composite Grades

The drill holes reported in this news release are oriented approximately perpendicular to mineralization. The reported intercepts therefore approximate the true width of mineralization. Tuvatu consists of high-grade narrow vein mineralization. The headline intercept of 236.00 g/t gold over 0.4 m therefore has an approximate true width of 0.4 m, as reported. The minimum mining width at Tuvatu is approximately 1.5 m. In reporting drillhole intercepts Lion One uses a grade composite cut-off of 3 g/t gold with <1 m internal dilution at <3 g/t. Drill hole intervals that are <3 g/t are below cutoff and are not included in Table 2.

Competent Person’s Statement

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Melvyn Levrel, MAIG, Senior Geologist for Lion One Metals, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.

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. The Lion One geochemical laboratory is accredited under the IANZ ISO/IEC 17025:2017 Standard - the international standard for testing and calibration of laboratories.

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 26 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 & President

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

Hole ID

Easting

Northing

Elevation

Azimuth

Dip

Depth

TGC-0311

1876383

3920627

128

79.2

-48.5

165.3

TGC-0313

1876384

3920429

94

107.5

-28.3

135.1

TGC-0315

1876384

3920625

128

111.7

-15.9

130.9

TGC-0316

1876384

3920429

94

96.5

-27.8

121.5

TGC-0318

1876383

3920626

128

111.3

-20.2

131.3

TGC-0319

1876384

3920429

94

99.9

-19.8

141.4

TGC-0321

1876384

3920626

128

100.8

-16.4

125.7

TGC-0323

1876384

3920428

94

114.9

-21.0

122.6

TGC-0325

1876384

3920626

128

103.4

-21.9

130.3

TGC-0326

1876384

3920427

94

129.7

-19.9

133.4

TGC-0327

1876384

3920626

128

92.0

-17.0

126.6

TGC-0330

1876384

3920426

94

143.5

-19.9

122.7

TGC-0331

1876384

3920626

128

93.4

-23.0

125.4

TGC-0332

1876384

3920428

94

122.0

-27.7

121.0

TGC-0333

1876384

3920627

128

88.1

-20.9

122.6

TGC-0335

1876384

3920627

128

157.4

0.8

131.6

TGC-0336

1876384

3920429

94

94.9

-22.5

109.7

TGC-0338

1876384

3920429

94

106.3

-22.8

95.8

TGC-0339

1876384

3920627

128

78.4

-19.9

120.0

TGC-0341

1876384

3920428

94

113.4

-25.2

95.6

TGC-0342

1876384

3920627

128

76.0

-14.5

121.3

TGC-0343

1876384

3920429

94

101.1

-25.8

105.0

TGC-0345

1876384

3920627

128

73.9

-22.0

125.7

TGC-0347

1876384

3920627

128

68.7

-20.7

111.5

TGC-0351

1876383

3920628

128

64.0

-18.1

130.0

TGC-0355

1876383

3920628

128

59.4

-17.4

135.0

TGC-0359

1876383

3920628

128

60.8

-9.3

135.0

TGC-0360

1876383

3920628

128

57.0

-11.3

139.0

TGC-0363

1876383

3920628

128

54.7

-16.1

143.3

TGC-0365

1876383

3920628

128

52.9

-11.1

148.0

TGC-0367

1876383

3920628

128

51.3

-17.8

155.6

TGC-0370

1876383

3920628

128

49.5

-13.0

165.9

Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).

Hole ID   From (m) To (m) Width (m) Au (g/t)
TGC-0311   140.1 140.4 0.3 14.59
    150.2 151.3 1.1 7.11
  including 150.2 150.7 0.5 11.83
  and 150.7 151 0.3 0.93
  and 151 151.3 0.3 4.96
TGC-0313   57.3 57.8 0.5 4.92
    65.8 66.3 0.5 4.65
    74 75.6 1.6 5.15
  including 74 74.4 0.4 5.68
  and 74.4 74.9 0.5 0.07
  and 74.9 75.2 0.3 2.96
  and 75.2 75.6 0.3 13.46
    83.2 84.4 1.2 5.16
TGC-0315   95.8 96.2 0.4 3.54
TGC-0316   56.6 58.2 1.6 8.48
  including 56.6 56.9 0.3 19.58
  and 56.9 57.2 0.3 12.37
  and 57.2 57.6 0.4 4.95
  and 57.6 58.2 0.6 3.33
    60.9 61.2 0.3 9.3
    64.2 64.5 0.3 4.96
    79.6 80.6 1 5.98
  including 79.6 79.9 0.3 6.46
  and 79.9 80.3 0.4 3.38
  and 80.3 80.6 0.3 8.98
TGC-0318   103.6 104.9 1.3 18.03
  including 103.6 104.3 0.7 8.71
  and 104.3 104.9 0.6 28.9
    120.4 120.7 0.3 3.71
TGC-0319   51.8 52.3 0.5 3.51
    61.5 61.9 0.4 8.08
    66.7 69 2.3 4.43
  including 66.7 67.1 0.3 3.12
  and 67.1 67.4 0.3 0.94
  and 67.4 68 0.6 0.03
  and 68 68.5 0.5 11.28
  and 68.5 69 0.5 5.56
    70.3 70.6 0.3 37.5
    71.8 73.9 2.1 4.61
  including 71.8 72.2 0.4 3.96
  and 72.2 72.6 0.4 5.09
  and 72.6 73.5 1 1.62
  and 73.5 73.9 0.3 13.87
    90 90.3 0.3 4.58
TGC-0321   103.1 103.5 0.4 5.22
    106.2 108.1 1.9 4.74
  including 106.2 106.6 0.4 4.53
  and 106.6 106.9 0.3 6.99
  and 106.9 107.2 0.3 1.45
  and 107.2 107.8 0.6 5.36
  and 107.8 108.1 0.3 4.84
TGC-0323   57.9 59.8 1.9 10.42
  including 57.9 58.2 0.3 13.68
  and 58.2 58.5 0.3 1.37
  and 58.5 58.8 0.3 4.45
  and 58.8 59.1 0.3 14.99
  and 59.1 59.5 0.4 14.28
  and 59.5 59.8 0.3 12.43
    64.4 64.7 0.3 4.6
    100.5 100.8 0.3 5.98
TGC-0325   110.3 113.5 3.2 3.55
  including 110.3 110.9 0.6 4.7
  and 110.9 111.5 0.6 0.72
  and 111.5 111.8 0.3 3.02
  and 111.8 112.1 0.3 7.4
  and 112.1 112.5 0.4 5.69
  and 112.5 112.9 0.4 0.14
  and 112.9 113.2 0.3 0.23
  and 113.2 113.5 0.3 8.56
TGC-0326   62.4 62.7 0.3 3.15
    64.4 64.8 0.3 3.85
    65.5 65.8 0.3 3.58
TGC-0327   101.9 104.3 2.4 14.23
  including 101.9 102.2 0.3 3.24
  and 102.2 102.7 0.5 2.86
  and 102.7 103 0.3 8.35
  and 103 103.3 0.3 20.58
  and 103.3 103.7 0.4 23.37
  and 103.7 104.3 0.6 22.86
TGC-0330   75 75.3 0.3 6.02
TGC-0331   108.2 108.8 0.6 4.17
  including 108.2 108.5 0.3 3.15
  and 108.5 108.8 0.3 5.19
TGC-0332   67.1 69.6 2.5 18.26
  including 67.1 67.4 0.3 12.37
  and 67.4 67.8 0.3 <0.01
  and 67.8 68.2 0.4 <0.01
  and 68.2 68.6 0.4 89.63
  and 68.6 68.9 0.3 14.51
  and 68.9 69.2 0.3 3.73
  and 69.2 69.6 0.4 4.66
TGC-0333   103.5 106.1 2.6 9.22
  including 103.5 103.8 0.3 13.88
  and 103.8 104.2 0.4 5.02
  and 104.2 104.6 0.4 35.43
  and 104.6 104.9 0.3 4.41
  and 104.9 105.8 0.9 0.58
  and 105.8 106.1 0.3 5.96
TGC-0335   102.1 104.4 2.3 16.34
  including 102.1 102.6 0.5 21.78
  and 102.6 103.2 0.6 23.57
  and 103.2 103.8 0.6 17.2
  and 103.8 104.4 0.6 3.71
TGC-0336   52.2 52.7 0.6 7.64
    56.2 56.9 0.7 11.29
  including 56.2 56.6 0.4 3
  and 56.6 56.9 0.3 21.78
    65 65.4 0.4 9.4
    71.8 72.8 1 3.99
  including 71.8 72.3 0.5 3.15
  and 72.3 72.8 0.5 4.87
    76.9 77.8 0.9 8.32
  including 76.9 77.2 0.3 15.86
  and 77.2 77.8 0.6 4.2
    102 103 1 17.9
TGC-0338   54.9 55.5 0.6 3.82
    69.1 69.7 0.6 25.89
    71.7 72.3 0.6 20.54
TGC-0339   104.7 107.7 3 16.85
  including 104.7 105.6 0.9 38.27
  and 105.6 105.9 0.3 8.93
  and 105.9 106.5 0.6 0.16
  and 106.5 106.8 0.3 3.92
  and 106.8 107.7 0.9 13.49
TGC-0341   63 64 1 5.23
  including 63 63.3 0.3 3.44
  and 63.3 64 0.7 6
    68.5 69.1 0.6 22.78
TGC-0342   104.3 105 0.7 13.87
TGC-0343   58.1 58.8 0.7 3.81
  including 58.1 58.4 0.3 4.58
  and 58.4 58.8 0.4 3.23
    60.2 60.5 0.3 4.32
    61.7 63.2 1.5 27.08
  including 61.7 62.2 0.5 6.69
  and 62.2 62.5 0.3 94.23
  and 62.5 62.8 0.3 9.85
  and 62.8 63.2 0.4 15.14
    68.9 70.3 1.4 25.96
  including 68.9 69.2 0.3 28.99
  and 69.2 69.7 0.5 3.01
  and 69.7 70.3 0.6 43.58
    75.3 78 2.7 15.36
  including 75.3 75.6 0.3 47.25
  and 75.6 75.9 0.3 13.93
  and 75.9 76.2 0.3 2.49
  and 76.2 76.7 0.5 0.3
  and 76.7 77 0.3 6.02
  and 77 77.3 0.3 13.46
  and 77.3 77.7 0.4 14.67
  and 77.7 78 0.3 35.07
TGC-0345   109.4 109.8 0.4 236
TGC-0347   109 110.2 1.3 29.44
  including 109 109.3 0.3 3.65
  and 109.3 109.9 0.6 3.95
  and 109.9 110.2 0.3 102.35
TGC-0351   111.2 113 1.8 4.84
  including 111.2 112.4 1.2 5.07
  and 112.4 113 0.6 4.39
TGC-0359   106.7 107.2 0.5 3.8
    110.7 113.7 3 25.89
  including 110.7 111 0.3 3.07
  and 111 111.5 0.5 26.5
  and 111.5 112 0.5 101.58
  and 112 112.5 0.5 5.43
  and 112.5 112.9 0.4 6.09
  and 112.9 113.2 0.3 10.42
  and 113.2 113.7 0.5 8.89
TGC-0360   115.6 116.2 0.6 34.99
TGC-0363   116.8 117.6 0.8 17.46
  including 116.8 117.2 0.4 27.33
  and 117.2 117.6 0.4 7.58
TGC-0370   109.2 109.5 0.3 3.23

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