Mr. Nav Dhaliwal reports

LION ROCK RECEIVES STATE AND COUNTY PERMITS FOR PEGMATITE EXTRACTION & BULK SAMPLING

Lion Rock Resources Inc.'s Volney tantalum, tin, lithium and gold project, located in the Black Hills of South Dakota, United States, is now fully permitted for pegmatite mining and bulk sampling, marking a significant milestone in the company's strategy to advance toward potential near-term U.S. production of critical minerals.

This follows receipt of the company's state mining licence from the South Dakota Department of Agriculture and Natural Resources (DANR), authorizing the extraction and sale of pegmatite, the host rock for Volney's high-grade tantalum, tin and lithium mineralization.

With permitting secured, Lion Rock is advancing modern metallurgical studies and targeting a bulk sampling program in 2027, while evaluating the potential for production to help finance continued exploration. The news comes amid growing U.S. government momentum behind domestic critical minerals production, with federal initiatives prioritizing mineral development and strengthening U.S. supply chains.

Highlights

• Permitted for pegmatite mining: Receipt of the state mining licence, together with the previously approved Lawrence County Conditional Use Permit, completes the permitting required for mining and bulk sampling of pegmatite within the approved area at Volney.
• High-grade critical mineral potential: Previous exploration has identified significant tantalum, tin and lithium mineralization within Volney's pegmatite systems, supported by a history of high-grade concentrate production, including tantalite concentrates grading up to 57 per cent Ta2O5, tin concentrates up to 62.5 per cent Sn and spodumene concentrates up to 6.3 per cent Li2O.
• High-grade tantalum confirmed by recent drilling: Lion Rock's recent drilling returned tantalum intercepts of up to 3,715 ppm (parts per million) Ta2O5 over 1.0 m, within 848 ppm Ta2O5 over 5.6 m and 788 ppm Ta2O5 over 5.9 m, alongside tin and lithium mineralization, with every hole targeting critical minerals intersecting mineralization (downhole lengths).
• Bulk sampling targeted for 2027: Lion Rock is planning a bulk sampling program to support metallurgical testing, process development and the evaluation of potential production scenarios.

Nav Dhaliwal, executive chairman, commented:

"Securing our state mining licence is a major milestone for Lion Rock and positions Volney among a limited number of U.S. critical minerals projects with an established permitting pathway for mining. With high-grade tantalum, tin and lithium mineralization, a history of production and modern metallurgical work under way, we believe Volney offers a compelling opportunity to evaluate near-term domestic critical minerals production.

"Our strategy is to advance the project on two fronts: expanding and defining its critical mineral potential through exploration, while evaluating opportunities for production that could generate revenue to support continued drilling and development."

Next steps

With permitting for pegmatite mining and bulk sampling secured, Lion Rock is focused on advancing the technical work necessary to evaluate potential production opportunities at Volney.

Modern mineralogical and metallurgical studies are under way to assess mineral recovery characteristics and processing options for tantalum-bearing minerals, cassiterite (tin) and spodumene (lithium). This work will support planning for a bulk sampling program targeted for 2027.

In parallel, the company is evaluating potential small-scale mining and processing scenarios that could provide an opportunity to generate revenue from critical mineral concentrates and offset future exploration expenditures.

These initiatives will complement the company's planned phase 2 exploration program, which is expected to include definition and expansion drilling focused on further evaluating Volney's tantalum, tin and lithium potential.

No production decision has been made, and any future production remains subject to further technical and economic evaluation, market conditions, and applicable regulatory requirements.

Historic 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 Ta2O52. This historical production 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. 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 of the company and a qualified person pursuant to National Instrument 43-101. Mr. Ginn is not considered independent to the company.

About Lion Rock Resources Inc.

Lion Rock Resources is advancing the Volney critical minerals and gold project in South Dakota's Black Hills. Volney is a past-producing tantalum-tin-lithium asset, now fully permitted for mining and bulk sampling, which additionally hosts a recently made gold discovery. Located in a mining-friendly jurisdiction and surrounded by active gold operations, the property is easily accessible via 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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