File: Attachment Press Release - EWR - Tony Alford.pdf

TONY ALFORD

October 23, 2026, Vancouver, British Columbia -- Tony Alford of North Carolina, United States, announces that on October 20, 2026, he acquired 268,663 common share purchase warrants of Lion Copper Corp. (the "Issuer"). Each warrant entitles the holder to acquire one common share of the Issuer at an exercise price of US$4.17 per share until November 6, 2031.

The warrants were issued in connection with the Issuer's restructuring of 12% secured convertible debentures (the "Debentures") in the principal amount of US$1,400,000 that were originally issued to Mr. Alford in November 2025. The Debentures may be converted into common shares of the Issuer at a pre- consolidation conversion price of US$0.0965 per Share until November 6, 2026. On October 20, 2026, the Issuer restructured the Debentures (the "Transaction") 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 November 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 US$2.6055 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% 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 US$1,400,000. 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% 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: dot 5,366,177 common shares of the Issuer, including 564,252 common shares of the Issuer held by his

spouse dot 3,019,627 warrants (including the 268,663 warrants acquired in the Transaction) dot 1,110,926 stock options dot Debentures in principal amount of US$1,400,000, convertible into shares at US$2.6055 per share

Following the Transaction, Mr. Alford's shareholdings represents approximately 33.56% 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% 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% on an undiluted basis and approximately 4.36% 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 the System for Electronic Document Analysis and Retrieval (SEDAR+) website at www.sedarplus.ca.

The Issuer's head office is located at 517 West Bridge Street, Suite A, Yerington, NV, United States, 89447.

TONY ALFORD c/o 517 West Bridge Street, Suite A Yerington, NV, United States, 89447

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