Mr. Dale Ginn reports

LION ROCK COMMENCES METALLURGICAL TESTING AT PAST-PRODUCING VOLNEY CRITICAL MINERALS PROJECT, SOUTH DAKOTA

Lion Rock Resources Inc. has commenced a metallurgical and mineralogical testing program at the past-producing Volney critical minerals and gold project in the Black Hills of South Dakota. The program will evaluate concentrate grades, mineral recoveries and processing pathways for the lithium, tin and tantalum system at Volney, as the company continues to rapidly advance the project.

Program highlights

Metallurgical and mineralogical testing under way, targeting the richly mineralized lithium-tin-tantalum-bearing system confirmed during the company's recent drill program.

Large bulk samples (greater than 200 kilograms each) will be collected from exposed pegmatite surfaces across the Volney project, allowing for an expedited and higher quality testing process.

Testing will evaluate potential concentrate quality and recovery rates for lithium, tin and tantalum.

Results will be used to help determine optimal processing pathways for any future production, such as on-site concentration, off-site concentration and direct shipping of material to end-users.

Volney has historically produced spodumene concentrate of up to 6.3 per cent Li2O, tin concentrate of up to 62.5 per cent Sn and tantalite concentrate of up to 57 per cent Ta2O5 (see historical production data below).

Test results will additionally be used to prioritize targets for regional drilling planned for this year.

Dale Ginn, president and chief executive officer of the company, commented: "As a past-producing critical minerals property, Volney is exceptionally well positioned for rapid development. For many projects, metallurgical testing would take place further along the development timeline, but the nature of mineralization and our existing infrastructure is accelerating our progress. We are not just exploring; we are gathering and analyzing the data to evaluate potential paths for future production."

A past-producing asset with significant structural advantages

Volney has a well-documented production history, most recently under Fansteel Mining Corp. The property benefits from significant infrastructure already in place, including an all-season road, on-site power and water and a previously used concentrator facility. The project sits on private land less than one hour from the rail network in a pro-mining U.S. state and Lion Rock holds both surface and mineral rights across the 142-hectare property.

The type and shallow depth of mineralization at Volney, as confirmed by recent and historic drilling, supports bulk-tonnage mining methods. This has the potential to minimize capital expenditure and time to production compared with underground operations. These structural advantages are a key reason the company is undertaking metallurgical work at this stage, earlier than would typically be the case for an exploration-stage project.

Program details

The metallurgical program is being conducted on bulk samples collected from outcropping pegmatite material at Volney. The samples represent the two principal mineralization styles confirmed during the company's recent 15-hole drill campaign: lithium-rich pegmatites and tin-rich, tantalum-bearing pegmatites. Because Volney's mineralized system begins at surface with large, exposed pegmatite faces available for sampling, the company is able to collect larger, more representative bulk samples than would be possible from drill core alone. This accelerates the testing process and improves data quality.

Samples will undergo crushing, blending and preparation followed by detailed feed characterization including head assays for lithium, tin and tantalum, multielement ICP analysis, whole rock oxide analysis, XRD mineralogical analysis and high-definition TIMA (Tescan Integrated Mineral Analyzer) analysis. TIMA analysis will evaluate mineral assemblages, liberation characteristics, exposure and mineral associations to provide a detailed understanding of the mineralogical composition of each sample.

Following characterization, metallurgical testing will include heavy liquid separation (HLS) testing to assess preconcentration potential, gravity separation testing targeting cassiterite, tantalum-bearing minerals, spodumene and other heavy minerals, as well as table and centrifugal separation techniques. Preliminary flotation testing on selected products is also planned, along with potential magnetic separation and additional product characterization as warranted by results.

Evaluating processing pathways

The data generated by this program will enable the company to begin evaluating a range of potential processing pathways, including on-site concentration using the existing infrastructure at Volney, off-site concentration at an established facility and direct shipping of material to an end user without prior concentration. Each pathway carries different cost, infrastructure and timeline implications and the metallurgical results will help to provide the technical basis for comparing these options.

Management is well connected with U.S.-based refinery operations, which may further reduce time to market and allow the company to pursue a full, U.S.-based supply chain strategy.

Historical production data

Historical production data referenced in this news release, including concentrate grades of up to 6.3 per cent Li2O, 62.5 per cent Sn and 57 per cent Ta2O5, is derived from published records of production at the Volney property, most recently under Fansteel Mining Corp. This historical data has been reviewed by the company, but a qualified person has not done sufficient work to verify the historical production data and the information should not be relied upon.

The technical content of this news release has been reviewed and approved by Carl Ginn, PGeo, consultant to the company and a qualified person pursuant to National Instrument 43-101.

About Lion Rock Resources Inc.

Lion Rock Resources is advancing the lithium-tin-tantalum project of Volney, South Dakota.

We seek Safe Harbor.