Mr. Walter Berukoff reports

LION ONE ACKNOWLEDGES RECEIPT OF SHAREHOLDER REQUISITION AND REITERATES CONSTRUCTIVE DIALOGUE AND ENGAGEMENT WITH ALL SHAREHOLDERS

Lion One Metals Ltd. has acknowledged the receipt of a shareholder meeting requisition notice pursuant to Section 167 of the Business Corporations Act (British Columbia) dated March 9, 2026, from Concept Capital Management Ltd. The company is reviewing the requisition with the assistance of its professional advisers and will respond appropriately in due course. In the meantime, there is no need for shareholders to take any action.

The requisitioning shareholder's requisition proposes to remove two directors and to set the number of directors at between nine to 11 directors and to elect six of the requisitioning shareholder's nominees.

The board and management of Lion One will continue to prioritize good governance and the best interests of the company, and Lion One continues to welcome the perspectives of its shareholders.

Approval of the strategic transaction with Arete Capital Advisors announced on Dec. 30, 2025, which includes a $15-million equity investment, management service agreement and investor rights agreement, remains subject to the continued review of the TSX Venture Exchange.

We seek Safe Harbor.