Mr. Walter Berukoff reports

LION ONE POURS FIRST GOLD AT TUVATU MINE IN FIJI

Lion One Metals Ltd. has poured first gold at its 100-per-cent-owned Tuvatu alkaline gold project in Fiji.

Construction of the Tuvatu mine has been completed ahead of schedule. Mill construction began in August, 2022, and commissioning began in September, 2023. The mill is expected to ramp up to 300 TPD (tonnes per day) by the end of October, 2023, expanding further to 500 TPD in mid-2024. The first gold pour coincided with Fiji Day on Oct. 10, 2023. A ceremonial first gold pour was conducted on site with over 900 members of local communities, businesses, employees and government officials in attendance, including the honourable Maciu Nalusima, Acting Minister for Mineral Resources for Fiji, who officiated the gold pour ceremony on behalf of Prime Minister Sitiveni Rabuka of Fiji.

Lion One chairman and chief executive officer Walter Berukoff commented: "The first gold pour at Tuvatu is a landmark event in the history of our company. We have successfully transitioned from explorer to producer and have delivered on our promise to build the South Pacific's newest gold mine in the heart of Fiji.

"Congratulations to the Lion One team for achieving this significant milestone. We thank our employees, contractors, local landowners and community members for their hard work and dedication. Completing construction ahead of schedule is a testament to the strength of their efforts and to the resilience of the Fijian spirit. We also thank our loyal shareholders for their continued support. This marks the beginning of our next phase of growth as we look forward to ramping up to commercial production at Tuvatu and to advancing our many other top-quality prospects throughout the Navilawa caldera."

The honourable Mr. Nalusima, Acting Minister for Mineral Resources for Fiji, stated, "The future looks good for Tuvatu; the best is yet to come."

About Lion One Metals Ltd.

Lion One's flagship asset is the 100-per-cent-owned, fully permitted high-grade Tuvatu alkaline gold project, located on the island of Viti Levu in Fiji.

We seek Safe Harbor.