Mr. Tony Alford, a shareholder, reports

Tony Alford of North Carolina, United States, announces that on Oct. 20, 2026, he acquired 268,663 common share purchase warrants of Lion Copper Corp. Each warrant entitles the holder to acquire one common share of the issuer at an exercise price of $4.17 (U.S.) per share until Nov. 6, 2031.

The warrants were issued in connection with the issuer's restructuring of 12 per cent secured convertible debentures in the principal amount of $1.4-million (U.S.) that were originally issued to Mr. Alford in November, 2025. The debentures may be converted into common shares of the issuer at a preconsolidation conversion price of 9.65 U.S. cents per share until Nov. 6, 2026. On Oct. 20, 2026, the issuer restructured the debentures such that the maturity date of the debentures was extended to May 6, 2027, all interest accrued on the debentures will be paid as at Nov. 6, 2026, and interest on the restructured debentures will remain payable in cash or common shares of the issuer, as determined by the issuer, as at the extended maturity date. The debentures remain convertible in common shares of the issuer at a conversion price of $2.6055 (U.S.) per share.

Immediately prior to the transaction, Mr. Alford, together with his joint actor (Christine Alford), owned and/or had control or direction over 5,362,177 common shares of the issuer, representing approximately 33.56 per cent of the issuer's total issued and outstanding common shares at such time, on an undiluted basis. In addition, immediately prior to transaction, Mr. Alford owned an aggregate of 2,750,964 warrants, 1,110,926 stock options and debentures in principal amount of $1.4-million (U.S.). If Mr. Alford exercised all of his warrants and options, and converted the debentures, he, together with his joint actor, would then own and/or exercise control or direction over 9,761,392 common shares, representing approximately 47.90 per cent of the then issued and outstanding common shares of the issuer on a partially diluted basis, assuming that no further common shares of the issuer have been issued.

Following the transaction, Mr. Alford, together with his joint actor, own and/or exercise control or direction over:

• 5,366,177 common shares of the issuer, including 564,252 common shares of the issuer held by his spouse;
• 3,019,627 warrants (including the 268,663 warrants acquired in the transaction);
• 1,110,926 stock options;
• Debentures in principal amount of $1.4-million (U.S.), convertible into shares at $2.6055 (U.S.) per share.

Following the transaction, Mr. Alford's shareholdings represents approximately 33.56 per cent of the total issued and outstanding common shares of the issuer. If Mr. Alford exercised all of his warrants and options, and converted the debentures, he would own and/or exercise control or direction over 10,034,055 common shares, representing approximately 48.58 per cent of the issued and outstanding common shares of the issuer on a partially diluted basis, assuming that no further common shares of the issuer have been issued, resulting in an increase of approximately 2.81 per cent on an undiluted basis and approximately 4.36 per cent on a partially diluted basis in Mr. Alford's securityholder percentage since the filing of his last early warning report.

All securities of the issuer held by Mr. Alford are held for investment purposes. Mr. Alford may, depending on market and other conditions, increase or decrease his ownership of the issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

The disclosure respecting Mr. Alford's shareholdings contained in this press release is made pursuant to National Instrument 62-104 -- Take-Over Bids and Issuer Bids and a report respecting the above acquisition will be filed with the applicable securities commissions using SEDAR+ website.

The issuer's head office is located at 517 West Bridge St., Suite A, Yerington, Nev., United States, 89447.