Lion One Appoints New COO, Senior Exploration Team, Grants Stock Options

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North Vancouver, British Columbia – (Newsfile Corp. – June 2, 2021) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce the appointment of a new COO and a senior exploration team for the 100% owned and fully licensed Tuvatu Gold Project located on Viti Levu Island in Fiji.

Patrick Hickey – Director of Operations

Mr. Hickey has over 40 years of experience as an engineer and executive in the design and construction of world-class mining, oil and energy operations around the world. He has worked for some of the world’s largest operators including Mobil in the United States and the Middle East, Power in the Czech Republic, BHP Oil Refining in Hawaii, Kinross Gold Corp. in Africa and Spain, and Newmont Gold in Indonesia and Peru. .

From 2010 to 2014, Mr. Hickey was Managing Director of African Operations at Kinross Gold Corp., where he was responsible for eight Kinross subsidiaries and projects such as the Tasiast gold mine in Mauritania and the Chirano gold mines in Ghana. Prior to that, from 2008 to 2010, he was President and CEO of Sherritt International for the $ 4.5 billion Ambatovy nickel-cobalt mine in Madagascar, and from 2004 to 2008, Newmont Mining was president and manager of the $ 2 billion Batu Hijau copper mine. – gold mine in Indonesia and general manager of the Yanacocha and Minas Conga gold projects in Peru. Mr. Hickey is currently President and Director of PHNG, a mining consultancy firm based in Denver, CO.

Sergio Cattalani – Senior Vice President Exploration

Mr. Cattalani is an experienced economic geologist with over 35 years of experience and distinguished leadership in mineral exploration around the world. After 3 years in an applied research position with the Institute for Research in Mineral Exploration in Montreal, Sergio accepted the position of Senior Geologist for Cominco based in Noranda, Quebec. Sergio then moved to Inco and then to CVRD-Inco for 12 years as Senior Geologist where he was responsible for project generation and engineering assessments in Ontario, Quebec and the Northwest Territories in Canada, in Turkey, Indonesia, Tasmania and Western Australia, China and Brazil. . In 2008, he was appointed Senior Geologist for Hecla Mining specializing in South American projects before being appointed Vice President of Exploration for Osisko Mining Corporation in 2009 where he managed their exploration and appraisal team. in Canada, then their exploration portfolio in the United States before the acquisition of Osisko by Yamana Gold Mines and Agnico Eagle for C $ 3.9 billion in 2014.

In 2016, he was appointed Vice President of Exploration at Newcastle Gold to oversee a 40,000 meter drilling program on the Castle Mountain Gold Project in California before the combination of Newcastle, Trek Mining and Anfield Gold which created Equinox Gold Corp. in 2017. Mr. Cattalani was subsequently appointed by Equinox as Vice President of Exploration and retained responsibility for all aspects of exploration at Castle Mountain, which now has P&P reserves of 3.6 million. ounces. @ 0.56 g / t gold and is expected to produce 30,000-40,000 oz. gold in 2021.

Most recently, from 2018 to December 2020, Sergio was an Economic Geologist in the Business Development Unit of Denver-based EMX Royalty Corp., working with EMX’s Capital Group on technical assessments of investment opportunities around the world. and the development of EMX’s Canadian business unit.

Will Ostrenga – Senior Geologist

Will Ostrenga began his exploration career in 2012 as a contract geologist at Teck Resources on the Noatak lead-zinc project at the Red Dog mine complex in Alaska, before joining Rangefront Consulting in Elko, Nevada, where he has managed major eight-year drilling programs for corporate clients such as Kinross Gold and Sumitomo.

In May 2019, Mr. Ostrenga was appointed Representative Geologist at Novo Resources Corp. for Sumitomo Corporation of Japan, where he developed large-scale paleo-placer exploration programs and led reconnaissance teams that discovered new gold prospects in the Pilbara region of Western Australia. . Mr. Ostrenga now resides in Nadi and works alongside the Lion One Fiji exploration team. He holds a Bachelor of Science in Geology from the University of Wisconsin-Eau Claire and holds the Chartered Professional Geologist (AIPG) designation.

Stephen Mann resigns

The Company announces the resignation of Chief Executive Officer Stephen Mann, for personal reasons. The Company would like to thank Mr. Mann for his long service and many contributions, including his instrumental role in the construction of the exploration and drilling division of Lion One, the completion of the Tuvatu environmental impact study. , the development and commissioning of Lion One’s own geochemical laboratory, Fiji, in addition to negotiating and securing a significant magnetite royalty on the Olary Creek ferrous asset in South Australia. The Company wishes Mr. Mann the best in his future endeavors.

Grant of stock options

The Company announces that it has granted 3,500,000 incentive stock options to various directors, officers and employees at an exercise price of $ 1.25, valid for a period of five years from the date grant and subject to regulatory approval.

About Lion One Metals Limited

Lion One’s flagship asset is 100% owned, fully licensed, Tuvatu High Grade Alkaline Gold Project, located on Viti Levu Island in Fiji. Lion One envisions low-cost, high-grade underground gold mining at Tuvatu, coupled with exciting exploration inside its buildings spanning the entire Navilawa Caldera, an under-explored but very promising 7 km alkaline gold system of diameter. Lion One CEO Walter Berukoff leads an experienced team of mine explorers and builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion and La Mancha Resources, Walter is credited with creating more than $ 3 billion in shareholder value.

On behalf of the Board of Directors of
Lion One Metals Limited
Walter berukoff
President and CEO

For more information
Contact Investor Relations
Toll free (North America) Tel. : 1-855-805-1250
Email: [email protected]

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

This press release may contain statements that may be considered “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, included in this document are forward-looking information. In general, forward-looking information can be identified by the use of forward-looking terms such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “Planned”, “believes”, “foresees”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and phrases, or by the use words or phrases or results can, could, would or could occur or be achieved. This forward-looking information reflects the current beliefs of Lion One Metals Limited and is based on information currently available to Lion One Metals Limited and on assumptions that Lion One Metals Limited believes to be reasonable. These assumptions include, but are not limited to, actual results of exploration projects equal to or better than results estimated in technical reports, appraisal reports and other geological reports or previous exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be significantly different from those expressed or implied by this forward-looking information. – seeking information. These risks and other factors may include, but are not limited to: the stage of development of Lion One Metals Limited; general business, economic, competitive, political and social uncertainties; the actual results of ongoing research and development or operational activities; competition; uncertainty over 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 the potential benefits of technology; conclusions of economic evaluations; and the lack of skilled and skilled labor or the loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors which could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. Therefore, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update forward-looking information except in accordance with applicable securities laws.

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