Mr. Walter Berukoff reports

LION ONE ANNOUNCES CHANGES TO THE BOARD OF DIRECTORS

Casey Spreeuw has stepped down from Lion One Metals Ltd.'s board of directors for personal reasons and Tayfun Eldem has been appointed as an independent director of the company.

Lion One chairman Walter Berukoff wishes to thank Mr. Spreeuw for his contributions and welcomes Mr. Eldem to the board of directors.

Tayfun Eldem, PEng

Mr. Eldem is an accomplished mining executive with over 35 years of operations and project development experience. Mr. Eldem's previous roles include chief operating officer and group EVP (executive vice-president) at Baffinland Iron Mines (2020 to 2025), president and chief executive officer at Alderon Iron Ore Corp. (2011 to 2015, 2018 to 2020), and managing director and associate at Hatch Ltd. (2015 to 2018). Prior experience also includes over 20 years working for the Iron Ore Company of Canada (IOC), a Rio Tinto subsidiary, in various senior roles, including chief operating officer, vice-president, expansion projects and engineering, and general manager of processing operations. As COO, Mr. Eldem was accountable for all of IOC's operations from the mine through the processing plants to rail and port and oversaw the development and delivery of a nearly $2.0-billion program of greenfield and brownfield expansion projects. Mr. Eldem is currently lead director at Mason Resources.

A graduate of Dalhousie University, Mr. Eldem is a professional engineer, and has completed the operations management program at the Richard Ivey School of Business and the strategic leadership program at London Business School.

About Lion One Metals Ltd.

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver, B.C., with new operations established in late 2023 at its 100-per-cent-owned Tuvatu alkaline gold project in Fiji. The Tuvatu project comprises the high-grade Tuvatu alkaline gold deposit, the underground gold mine, the pilot plant and the assay lab. The company also has an extensive exploration licence covering the entire Navilawa caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

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