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Lion One Drills 85.54 g/t Gold over 3.0 m from Surface at Tuvatu, Announces New CEO

Drill Results Management Changes

Lion One Drills 85.54 g/t Gold over 3.0 m from

Surface at Tuvatu, Announces New CEO

North Vancouver, British Columbia--(Newsfile Corp. - February 27, 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 1,757.8 meters of near-mine expansion drilling at its 100% owned Tuvatu

Alkaline Gold Project in Fiji. Drilling is focused on the SKL lodes in the Zone 5 area of Tuvatu. The

Company is also pleased to announce accomplished mining engineer Ian Berzins as the Company's

new CEO.

The SKL lodes are located in close proximity to underground workings near surface in the Zone 5 area

of Tuvatu. Drilling was conducted from two surface drill pads and consisted of infill and expansion drilling

with the purpose of bringing the SKL lodes into the long term mine plan for Tuvatu. High-grade

mineralized structures were intersected in 10 drill holes. Drill results include multiple bonanza grade gold

assays such as

502.50 g/t, 118.20 g/t, 85.50 g/t, and 76.50 g/t gold over narrow widths of 0.3 m

. All

high-grade drill results were intersected within 75 m of underground developments and within 110 m of

surface. The SKL lodes were the subject of test mining in the 1990s but have undergone little modern

drilling despite their proximity to underground workings. The SKL lodes represent a prime target for

addition to the Tuvatu mine plan given the high-grade results and proximity to underground infrastructure.

Previous drill results in the SKL area include

4.8 m of 30.48 g/t gold

(see news release dated May 8,

2024).

Highlights of New Drill Results

:

85.54 g/t Au over 3.0 m

(including 502.50 g/t Au over 0.3 m) (TUDDH-745, from 31.73 m depth)

23.59 g/t Au over 2.4 m

(including 53.99 g/t Au over 0.6 m) (TUDDH-740, from 74.50 m depth)

21.10 g/t Au over 2.4 m

(including 46.30 g/t Au over 0.3 m) (TUDDH-748, from 82.79 m depth)

24.51 g/t Au over 1.6 m

(including 76.50 g/t Au over 0.3 m) (TUDDH-748, from 54.82 m depth)

118.20 g/t Au over 0.3 m

(TUDDH-733, from 85.5 m depth)

15.22 g/t Au over 2.1 m

(including 57.64 g/t Au over 0.3 m) (TUDDH-748, from 133.92 m depth)

10.94 g/t Au over 2.7 m

(including 41.05 g/t Au over 0.3 m) (TUDDH-738, from 68.10 m depth)

85.50 g/t Au over 0.3 m

(TUDDH-745, from 88.96 m depth)

36.49 g/t Au over 0.7 m

(including 59.05 g/t Au over 0.4 m) (TUDDH-745, from 74.60 m depth)

19.50 g/t Au over 1.2 m

(including 30.44 g/t Au over 0.3 m) (TUDDH-740, from 110.20 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 SKL drilling reported in this news release.

Left image: Plan view of

Tuvatu showing SKL drillholes in relation to the mineralized lodes shown in grey and Tuvatu underground

development shown in red. Right image: Oblique view of the SKL drilling looking northeast.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/2178/242627_74ed9fc8149a2be3_001full.jpg

SKL Lodes

The SKL lodes are located in the near-surface portion of Zone 5, in the northeast part of the deposit

proximal to the historical exploration adit, which is now used primarily for mine ventilation and secondary

egress. The SKL lodes are north of the steeply dipping UR lodes, which are the primary lodes in Zone 5.

Minor underground development and trial mining was conducted on the SKL lodes in the late 1990s,

including the development of the historical exploration adit. Minor confirmatory infill drilling was also

completed in 2019 and in 2024 Lion One announced the results from seven additional drillholes

conducted in the area. The drill holes announced in this release are a continuation of that program.

Preliminary handheld mining has also been conducted in the SKL lodes on a trial basis to further test the

area. Additional infill drilling and underground development is required before more advanced mining

can take place. The SKL lodes are a prime target for near-mine expansion given both the underground

access already in place and the high-grade results returned from the initial infill drilling.

The SKL lodes have historically been modelled as a series of stacked flat-lying mineralized lodes known

as ''flatmakes''

[1]

, similar to those currently being mined in the high-grade near-surface

roscoelite area in

Zone 2

. The lodes are composed of high-grade narrow vein structures that frequently return bonanza-

grade results >30 g/t gold. They are also associated with stockwork veining and roscoelite

mineralization. The SKL lodes are not included in the current mine plan at Tuvatu. The purpose of the

current SKL drill program is to confirm the SKL mineralization in advance of additional infill and grade

control drilling needed to bring the area into the Tuvatu mine plan. The SKL lodes are a strong example

of the opportunity for near-mine expansion at Tuvatu.

Figure 2. SKL drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff.

Section view

looking northeast. High-grade gold mineralization is intersected near surface proximal to underground

developments in the SKL area. SKL lodes are shown in light brown. These drill results are not included in

the Tuvatu mine plan and represent near mine expansion of the mine plan.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/2178/242627_74ed9fc8149a2be3_002full.jpg

Management Transition

Effective immediately, Walter Berukoff - Founder, Chairman, and CEO of Lion One Metals, is

transitioning to the role of Chairman and President of the Company, while Ian Berzins is joining the

Company as it's new CEO. This is part of a planned senior management transition at Lion One aimed

specifically at providing increased operational knowledge and support for the Company as it ramps up

production at the Tuvatu gold mine in Fiji.

As Founder, Chairman and CEO of Lion One Metals, Mr. Berukoff has had an unparalleled impact on the

success of the Company. Mr. Berukoff acquired the Tuvatu property as an exploration project, and

successfully brought the project from exploration through discovery, permitting, financing, construction,

and ultimately to production, all while maintaining 100% control of the project - a rarity in modern mining.

During this time, Mr. Berukoff also consolidated all the mineral rights throughout the highly prospective

Navilawa Caldera, making Lion One the first Company ever to hold rights over the entire caldera, and

thereby providing the Company with top tier exploration and growth potential. The Company has since

made numerous discoveries throughout the caldera, such as the

Lumuni gold

and

Wailoaloa copper-

gold

prospects. The most important discoveries made under Mr. Berukoff's leadership have been at

Tuvatu, including the high-grade

Zone 500 feeder zone

which returned 75.9 m of 20.86 g/t gold, and the

high-grade

near-surface roscoelite zone

which is currently in production. Tuvatu is now an operating gold

mine, having achieved increased gold production in every quarter throughout 2024, culminating in

record

revenue

from gold sales in the quarter ending December 31, 2024. As President and Chairman of Lion

One Metals, Mr. Berukoff will remain involved with the Company and will continue to support the growth of

Tuvatu as it ramps up to the next stage of production as well as looking at other accretive assets for the

Company.

Incoming CEO Ian Berzins is a seasoned mining professional who brings significant underground

operational experience to the Company. Mr. Berzins is knowledgeable in various mining applications

including narrow vein conventional mining and open stoping. He previously held senior management

positions at several deep underground gold mining operations in Canada including the Con Mine in

Yellowknife NT, the Lupin Mine in Nunavut and the Rice Lake Mine in Bissett, MB. During the period from

2008 to 2014 as COO and subsequently CEO, Mr. Berzins led the operational ramp-up at the Rice Lake

Mine from 10,000 ounces of gold per annum to 80,000 ounces of gold per annum averaging 20,000

ounces per month for 11 consecutive quarters.

As Vice President and General Manager at Thompson

Creek's Mount Milligan open pit copper and gold mine, during the period from 2014 to 2016, Mr. Berzins

lead the operational team that achieved nameplate throughput of 60,000 tonnes per day on a consistent

basis. Mr. Berzins is a strong advocate for safe production and local engagement. With over 40 years in

the mining industry, he has worked in mine engineering, supervision, human resources, maintenance

and senior management. Mr. Berzins holds a Bachelor of Applied Science in Mining Engineering from

Queen's University in Kingston, Ontario, Canada, and has completed his ICD.D designation from the

Haskayne School of Management in Calgary, Alberta, Canada.

Lion One Chairman and CEO Walter Berukoff commented: "We are extremely pleased to have Ian join

us at this pivotal moment in our development. He brings significant operational experience and

leadership to Lion One, which will be highly advantageous to the Company as we ramp up gold

production at Tuvatu and as we continue to discover additional gold mineralization, including the

emergence of roscoelite as a key indicator in our alkaline gold system. Tuvatu is one of only a few

alkaline gold deposits in the world not controlled by a major mining Company. The board and I have full

confidence in Ian's ability to help us develop Tuvatu into a world class gold deposit, and we are excited

to have him on the team."

Mr. Berzins stated: "I am honoured and excited to join the Lion One team at this key juncture in time. I

look forward to leveraging my knowledge and experience to help grow the Company from the base

established by Mr. Berukoff and the Lion One team in Tuvatu. Mr. Berukoff and I previously worked

together at the Con Mine between 1993 and 1996, and I look forward to working together again".

Warrant Listing

The Company confirms that the share purchase warrants (the "Warrants") issued as part of the public

offering that was completed on February 14, 2028 are now listed on the TSX Venture Exchange under

the symbol "LIO.WT.A".

The Warrants are exercisable for one common share of the Company at a price

of $0.41 until February 14, 2028.

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 has been reviewed and approved 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 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:

[email protected]

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

TUDDH-733

1876479

3920838

238

288.1

-56.9

133.0

TUDDH-735

1876479

3920839

238

302.2

-53.8

122.5

TUDDH-736

1876479

3920839

238

274.8

-55.0

147.6

TUDDH-737

1876479

3920838

238

241.9

-66.0

150.6

TUDDH-738

1876479

3920838

240

285.2

-63.2

135.0

TUDDH-740

1876482

3920839

239

338.0

-69.2

160.0

TUDDH-742

1876482

3920839

239

355.0

-85.0

10.2

TUDDH-743

1876481

3920839

239

355.0

-85.0

10.1

TUDDH-744

1876481

3920843

239

354.6

-84.7

160.0

TUDDH-745

1876483

3920840

240

190.8

-85.6

165.6

TUDDH-748

1876488

3920785

239

344.9

-59.7

161.4

TUDDH-750

1876489

3920785

240

18.9

-56.9

10.0

TUDDH-751

1876489

3920786

239

19.1

-53.2

200.3

TUDDH-752

1876490

3920785

240

50.9

-80.6

191.5

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)

TUDDH-733

82.2

82.8

0.6

3.42

85.5

85.8

0.3

118.20

TUDDH-735

89.3

92.3

3.0

6.92

including

89.3

89.9

0.6

7.93

and

89.9

90.5

0.6

6.30

and

90.5

91.1

0.6

0.39

and

91.1

91.7

0.6

15.93

and

91.7

92.3

0.6

4.07

TUDDH-735

94.4

94.7

0.3

11.66

TUDDH-736

102.0

102.6

0.6

4.27

TUDDH-737

75.9

76.2

0.3

5.42

77.4

78.9

1.5

3.65

including

77.4

77.7

0.3

3.47

and

77.7

78.0

0.3

7.84

and

78.0

78.3

0.3

3.40

and

78.3

78.6

0.3

0.21

and

78.6

78.9

0.3

3.34

86.0

86.3

0.3

6.70

88.7

89.3

0.6

33.43

including

88.7

89.0

0.3

23.63

and

89.0

89.3

0.3

43.22

TUDDH-738

68.1

70.8

2.7

10.94

including

68.1

68.4

0.3

5.41

and

68.4

69.0

0.6

-0.01

and

69.0

69.3

0.3

8.30

and

69.3

69.6

0.3

2.87

and

69.6

69.9

0.3

1.08

and

69.9

70.2

0.3

24.46

and

70.2

70.5

0.3

41.05

and

70.5

70.8

0.3

15.33

85.2

85.8

0.6

3.99

88.5

89.7

1.2

8.68

including

88.5

88.8

0.3

25.81

and

88.8

89.1

0.3

1.46

and

89.1

89.4

0.3

4.42

and

89.4

89.7

0.3

3.03

TUDDH-740

65.2

65.8

0.6

4.58

67.3

67.6

0.3

63.35

70.3

70.6

0.3

6.84

74.5

76.9

2.4

23.59

including

74.5

75.1

0.6

53.99

and

75.1

75.7

0.6

25.40

and

75.7

76.3

0.6

7.30

and

76.3

76.9

0.6

7.65

91.6

91.9

0.3

3.05

96.1

96.4

0.3

5.82

110.2

111.4

1.2

19.50

including

110.2

110.5

0.3

5.99

and

110.5

110.8

0.3

18.71

and

110.8

111.1

0.3

30.44

and

111.1

111.4

0.3

22.85

114.9

116.1

1.2

4.20

TUDDH-744

69.1

69.4

0.3

6.20

72.6

72.9

0.3

4.17

77.1

77.7

0.6

5.18

including

77.1

77.4

0.3

6.48

and

77.4

77.7

0.3

3.84

84.8

85.5

0.8

12.84

including

84.8

85.1

0.4

4.83

and

85.1

85.5

0.4

19.85

TUDDH-745

31.7

34.7

3.0

85.54

including

31.7

32.5

0.7

45.89

and

32.5

32.9

0.5

55.25

and

32.9

33.2

0.3

12.68

and

33.2

33.5

0.3

27.01

and

33.5

33.8

0.3

53.77

and

33.8

34.1

0.3

29.36

and

34.1

34.4

0.3

28.50

and

34.4

34.7

0.3

502.50

72.6

73.0

0.4

15.60

74.6

75.3

0.7

36.49

including

74.6

74.9

0.3

7.16

and

74.9

75.3

0.4

59.05

78.5

78.9

0.4

22.15

84.3

85.6

1.3

8.85

including

84.3

84.6

0.3

4.44

and

84.6

85.0

0.4

0.18

and

85.0

85.3

0.3

1.22

and

85.3

85.6

0.3

31.88

89.0

89.3

0.3

85.50

101.5

101.8

0.3

3.66

TUDDH-748

54.8

56.4

1.6

24.51

including

54.8

55.1

0.3

16.99

and

55.1

55.4

0.3

0.08

and

55.4

55.7

0.3

8.29

and

55.7

56.1

0.3

76.50

and

56.1

56.4

0.3

17.28

82.8

85.2

2.4

21.10

including

82.8

83.1

0.3

8.70

and

83.1

83.4

0.4

0.04

and

83.4

83.7

0.3

46.27

and

83.7

84.0

0.3

5.47

and

84.0

84.3

0.3

7.94

and

84.3

84.9

0.5

41.30

and

84.9

85.2

0.3

25.99

86.4

86.7

0.3

28.37

88.5

90.4

1.9

8.25

including

88.5

88.9

0.4

4.42

and

88.9

89.2

0.3

19.04

and

89.2

89.7

0.5

0.11

and

89.7

90.1

0.5

-0.01

and

90.1

90.4

0.3

26.88

97.2

97.5

0.3

5.39

117.0

117.4

0.4

6.15

122.9

123.2

0.3

9.85

133.9

136.0

2.1

15.22

including

133.9

134.2

0.3

36.09

and

134.2

134.5

0.3

57.64

and

134.5

135.1

0.6

0.11

and

135.1

135.4

0.3

0.92

and

135.4

135.7

0.3

6.55

and

135.7

136.0

0.3

5.12

TUDDH-751

54.7

55.0

0.3

7.33

57.2

58.5

1.3

15.14

including

57.2

57.5

0.3

4.97

and

57.5

57.8

0.3

6.34

and

57.8

58.1

0.3

27.19

and

58.1

58.5

0.4

19.86

91.6

92.0

0.4

12.88

1

Flatmakes are flat-dipping mineralized vein structures. The term is a Fijian mining term commonly used at the Vatukoula gold mine northeast of

Tuvatu. At Vatukoula, flatmakes have been reported to have hundreds of meters of strike length.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/242627