Mr. Walter Berukoff reports

LION ONE METALS ANNOUNCES LISTING OF WARRANTS

A total of 4,045,496 Lion One Metals Ltd. common share purchase warrants will be listed and posted for trading under the symbol LIO.WT on the TSX Venture Exchange effective Dec. 31, 2020.

The warrants were issued in connection with the company's offering of units that closed on Aug. 21, 2020 (refer to TSX-V bulletin dated Sept. 8, 2020). Each unit consists of one common share and one warrant, with each warrant entitling the holder to purchase one common share at an exercise price equal to $2.75, at any time before Aug. 21, 2021.

About Lion One Metals Ltd.

Lion One's flagship asset is the 100-per-cent-owned, fully permitted, high-grade Tuvatu alkaline gold project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost, high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective seven-kilometre diameter alkaline gold system. Lion One's chief executive officer, Walter Berukoff, leads an experienced team of explorers and mine builders, and has owned or operated over 20 mines in seven countries. As the founder and former CEO of Miramar Mines, Northern Orion and La Mancha Resources, Mr. Berukoff is credited with building over $3-billion of value for shareholders.

We seek Safe Harbor.