Mr. R. Dale Ginn reports

LION ROCK RECEIVES CONDITIONAL USE MINING PERMIT FOR VOLNEY CRITICAL MINERALS PROJECT, SOUTH DAKOTA

Lion Rock Resources Inc. has received conditional use permit approval from Lawrence county, South Dakota, for mining and bulk sampling at its past-producing Volney critical mineral and gold project in the Black Hills of South Dakota, United States. The CUP grants local approval for mining pegmatite on the property. The company is in the process of applying for a state mining licence that would authorize mining and offtake of lithium-, tin- and tantalum-bearing pegmatite at Volney.

Permit highlights:

• Lawrence county has granted conditional use permit approval for pegmatite mining across the Volney property, securing the local land use authorization required to conduct mining and bulk sampling on the property.
• The company has commenced the application process for the state mining licence, administered by the South Dakota Department of Agriculture and Natural Resources, which licence is required to mine and sell pegmatite material from Volney.
• Volney has the potential for multiple prospective commercialization pathways, including on-site production of lithium, tin and tantalum concentrate and direct shipping of ore.
• As a past-producing property on private land with on-site power, an all-season road and rail access within one hour, Volney has the potential to advance from permitting to production on an expedited timeline.
• Metallurgical and mineralogical testing is under way to evaluate concentrate grades and recoveries for spodumene (lithium)-, cassiterite (tin)- and tantalum-bearing minerals.

Dale Ginn, president and chief executive officer of Lion Rock, commented: "Receiving local government approval for mining and bulk sampling at Volney reflects the rapid progress we continue to make at this remarkable critical minerals and gold project. With this permit now in hand, we are focused on securing the state mining licence required for mining and offtake of lithium-, tin- and tantalum-bearing pegmatite. Volney is a past-producing asset with a concentrator and infrastructure already in place, which positions us exceptionally well for rapid advancement."

Historical production data

Volney has a documented production history, historically producing 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. This historical production data have 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. Historical production results are not necessarily indicative of future results or performance.

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

About Lion Rock Resources Inc.

Lion Rock is advancing the lithium-tin-tantalum project of Volney, South Dakota. Volney is a past-producing critical mineral asset which additionally hosts a recently made gold discovery. It is located in a mining-friendly jurisdiction and surrounded by active gold operations. The property is easily accessible through an all-season road, has on-site power and is less than one hour's drive from the U.S. rail network. The company is led by an award-winning team with a proven record of mineral discoveries, project development and financing.

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