North Vancouver, British Columbia--(Newsfile Corp. - September 24, 2026) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") is pleased to report significant new high-grade gold results from 4,370.20 meters of underground infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji ("Tuvatu").

Top New Drill Results:

• 82.28 g/t Au over 4.6 m (including 302.15 g/t Au over 0.4 m) (TGC-0532, from 72.73 m depth)
• 169.47 g/t Au over 1.0 m (including 502.48 g/t Au over 0.3 m) (TGC-0532, from 58.42 m depth)
• 153.94 g/t Au over 1.1 m (including 547.05 g/t Au over 0.3 m) (TGC-0535, from 24.3 m depth)
• 93.94 g/t Au over 1.7 m (including 350.00 g/t Au over 0.4 m) (TGC-0544, from 60.5 m depth)
• 285.13 g/t Au over 0.3 m (TGC-0528, from 89.55 m depth)
• 186.00 g/t Au over 0.4 m (TGC-0542, from 108.1 m depth)
• 19.32 g/t Au over 3.0 m (including 64.05 g/t Au over 0.6 m) (TGC-0538, from 1.0 m depth)
• 10.64 g/t Au over 4.9 m (including 36.45 g/t Au over 0.6 m) (TGC-0515, from 16.8 m depth)
• 18.13 g/t Au over 2.8 m (including 46.83 g/t Au over 0.3 m) (TGC-0512, from 127.5 m depth)
• 14.15 g/t Au over 3.3 m (including 34.72 g/t Au over 1.2 m) (TGC-0535, from 98.5 m depth)

*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.

The primary target of the drill program is the up-dip and down-dip extensions of the UR lodes in Zone 5. Drilling was conducted from two near surface underground drill stations — the 1160 drill station and the 1082 drill station. Drilling from the 1160 drill station primarily targeted mineralization up-dip of the 1150 level, whereas the drilling from 1082 drill station primarily targeted mineralization down dip of the 1066 level. These areas represent the uppermost and lowermost areas of active mining in Zone 5. The Company intersected high-grade mineralization in 30 out of 34 completed drillholes with three additional drill holes abandoned.

Drill results include multiple very high-grade gold assay results, including 547.05 g/t over 0.3 m, 502.48 g/t over 0.3 m, 350.00 g/t over 0.4 m, 302.15 g/t over 0.4 m, 301.58 g/t over 0.4 m, and 285.13 g/t over 0.3 m. Most of the high-grade drill intersects are located within 25 m of underground development and are anticipated to be incorporated into the mine plan within the next six months. Very high-grade gold results are not unexpected at Tuvatu. Previous results from Zone 5 include 99.13 g/t over 3.3 m, 728.56 g/t over 0.7 m, and 2,749.86 g/t over 0.3 m.

Lion One President and CEO Ian Berzins stated: "We're very pleased with the new results from our Zone 5 drilling. We are actively drilling both Zone 5 and Zone 2 at Tuvatu, and we continue to intersect exceptional grades on both sides of the mine. Included in this news release are 8 intersects over 100 g/t gold, which follows up the record intersect of 715.15 g/t gold over 4.2 m, which we drilled in Zone 2 and released last month. These drill results are testament to the potential of the mine as we advance mining up-dip and down-dip in the near-surface portion of Tuvatu."

Figure 1. Location of the Zone 5 drilling reported in this news release. Left image: Plan view of the Zone 5 drilling in relation to the mineralized lodes shown in grey with Tuvatu underground development shown in red. Right image: Section view of the Zone 5 drilling looking Northeast. The primary target for drilling from the 1160 drill station is mineralization up-dip of level 1150, while the primary target for drilling from the 1082 drill station is mineralization down-dip of level 1066.

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Zone 5 Drilling

The Zone 5 area of Tuvatu is located along the main decline at Tuvatu and includes the principal north-south oriented lodes (UR1 to UR3 and URW1 to URW3) and the secondary northeast-southwest oriented lodes (UR4 to UR8). These lodes are steeply dipping structures that converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit, and is interpreted to be a major feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1000 m depth.

The drilling reported in this news release targeted the near-surface portions of the UR1 and UR2 lodes in the southern part of the deposit, directly up-dip and down dip of current mine levels. Drilling was conducted from two underground drill stations and targeted a drill spacing of 12.5 m x 12.5 m. Drilling from the 1160 drill station targeted a 100 m strike length of the UR lodes up-dip of level 1150, while drilling form the 1082 drill station targeted a 100 m strike length of the UR lodes down-dip of level 1066. The current total strike length of the UR2 lode is approximately 620 m, and it remains open along strike and at depth. 30 out of 34 completed drillholes intersected high grade mineralization, with most of the drill results located within 25 m of underground development. These areas represent part of the near-term mine plan and are targeted for production within the next six months. Some intersects are currently being developed with accesses and drives in preparation for stoping in levels 1048, 1066, 1150 and 1170.

Figure 2. Zone 5 Up-dip drilling with high-grade intercepts highlighted, 3.0 g/t gold cutoff. Plan view looking down with select high-grade drill intercepts highlighted. The drill holes shown here primarily targeted mineralization up-dip of the 1150 level. Underground development above level 1120 shown in grey.

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Figure 3. Zone 5 Down-dip drilling with high-grade intercepts highlighted, 3.0 g/t gold cutoff. Section view looking West select high-grade drill intercepts highlighted. The drill holes shown here primarily targeted mineralization down-dip of the 1066 level. Underground developments are shown in grey.

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Note on Composite Grades

The drill results reported in this news release are expressed in downhole intervals. Due to local variability in structural orientation true widths are unknown. Drill holes are oriented perpendicular to mineralization as much as possible. The minimum mining width at Tuvatu is approximately 1.5 m. In reporting drillhole intercepts Lion One uses a high-grade composite cut-off of 3 g/t gold with <1 m internal dilution at <3 g/t gold. Drill hole intervals that are <3 g/t gold are below cutoff and are not included in Figure 2 and 3, nor in Table 2. Holes TGC-0504 and TGC-0526 reported in Table 1 and Table 2 were drilled in the vicinity of the 1120 shrink stope which has since been mined and processed. Production results from the 1120 shrink stope will be reported separately.

Competent Person's Statement

In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101"), Melvyn Levrel, MAIG, Chief Geologist for Lion One Metals, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release. Mr. Levrel is an employee of Lion One Metals and is not independent of the Company.

Lion One Laboratories / QAQC

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. One blank, one field duplicate and one CRM are inserted every 50 samples. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods. The Lion One geochemical laboratory is accredited under the IANZ ISO/IEC 17025:2017 for gold assays. IANZ ISO/IEC 17025:2017 Standard is the international standard for testing and calibration of laboratories.

Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Minimum sampling width is 0.30 m, and maximum sampling width is 1.20 m for both grade control and exploration diamond core samples. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for high-grade samples.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 29 important pathfinder elements with an aqua regia digest and ICP-OES finish.

Corporate Note

Further to the announcement on July 14, 2026 in relation to the appointment of Ronan Geoghegan as VP Corporate Development and Investor Relations, we are providing additional information regarding the securities held by Mr. Geoghegan. Mr. Geoghegan currently holds 100,000 Common Shares, 334,615 Common Share Purchase Warrants, and 11 convertible debenture units, as well as 300,000 previously granted Stock Options. In consideration for his services, Mr. Geoghegan will receive the option to purchase 1,000,000 common shares of the Company ("Stock Options"). The Stock Options have an exercise price of $0.16 per common share ("Common Share"), an expiry date of July 10, 2031, and the following vesting schedule: up to one-six, or 166,666 Common Shares on October 10, 2026; up to an additional one-six, or 166,667 Common Shares on January 10, 2027; up to an additional one-six, or 166,666 Common Shares on April 10, 2027; up to an additional one-six , or 166,667 on July 10, 2027; up to an additional one-six, or 166,667 Common Shares on April 10, 2028; the remaining one-six, or 166,667 Common Shares on July 10, 2028.

About Lion One Metals Limited

Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% 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 license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

On behalf of the Board of Directors,
Ian Berzins, Chief Executive Officer, President, and Board Member

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be "forward-looking statements" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au). Intervals are colour coded based on grade.

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Source: Lion One Metals Limited