Vancouver, British Columbia--(Newsfile Corp. - October 8, 2026) - Lions Bay Capital Inc. (TSXV: LBI) ("LBI" or "Lions Bay" or the "Company") announces that the British Columbia Securities Commission (the "BCSC") issued a failure-to-file cease trade order (the "CTO") against the Company on October 5, 2026.

The CTO was issued as a result of the Company's failure to file its audited annual financial statements, management's discussion and analysis, and related CEO and CFO certifications for the financial year ended May 31, 2026 (collectively, the "Required Filings") by the prescribed filing deadline. The delay is due to additional audit work that remains outstanding in connection with certain significant transactions and valuation matters relating to the Company's investment in Lions Bay Resources (Pty) Ltd. ("LBR"), a private South African company in which the Company holds an equity interest. Management and the Company's auditors continue to work diligently toward completing the audit.

The CTO prohibits trading in or purchasing any securities of the Company in British Columbia and, pursuant to Multilateral Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions and applicable reciprocal order provisions, in other Canadian jurisdictions in which the Company is a reporting issuer, until the CTO is revoked. Despite the CTO, a beneficial securityholder of the Company who is not, and was not as of October 5, 2026, an insider or control person of the Company may sell securities acquired before that date if the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Canadian Investment Regulatory Organization, and through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

Trading in the Company's common shares on the TSX Venture Exchange (the "Exchange") had been halted prior to the issuance of the CTO in connection with the Company's pending change of business. As a result of the CTO, the Exchange suspended trading in the Company's securities effective October 6, 2026. Reinstatement to trading can occur only once the CTO has been revoked and the Exchange has completed a reinstatement review to confirm that the Company has complied with Exchange requirements. If the Company has not been reinstated to trading on Tier 2 of the Exchange, or does not meet the Exchange's Tier 2 continued listing requirements, by January 5, 2027, the Exchange may transfer the Company's securities to the NEX board of the Exchange ("NEX") without further notice.

The Company is working to complete the Required Filings as soon as practicable and currently expects to file them on or before October 30, 2026. The Company intends to apply for a revocation of the CTO once the Required Filings have been completed and filed. The Company will provide further updates as appropriate.

About Lions Bay Capital Inc.

Lions Bay Capital Inc. is a mining finance and investment company focused on unlocking the value of overlooked or underperforming resource assets, with a strategic emphasis on gold and copper.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements concerning the anticipated completion, timing and filing of the Required Filings and the potential revocation of the CTO, reinstatement of the Company's securities to trading on the Exchange and the potential transfer of the Company's securities to NEX. These statements are based on assumptions, including that the Company's auditor will complete its audit within the anticipated timeframe and that the BCSC will grant the Company's application for revocation of the CTO in a timely manner, and that the Company will satisfy the Exchange's reinstatement requirements and Tier 2 continued listing requirements by January 5, 2027. Such statements are subject to risks and uncertainties, including delays in completing the audit and obtaining regulatory approval for revocation, the Exchange not completing its reinstatement review in a timely manner, and the Exchange transferring the Company's securities to NEX. Actual results may differ materially from those anticipated. The Company undertakes no obligation to update forward-looking information except as required by applicable law.

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