Lion Rock Resources Receives Drill Permit at Volney Project, South Dakota

Executive Summary

• Lion Rock Resources received approval from the South Dakota Department of Agriculture and Natural Resources for a drill permit covering 78 drill pads at its Volney Project.
• The permit enables the company to start its inaugural drilling campaign next month, targeting high‑grade gold, lithium, and tin zones identified in recent surface sampling.
• Drill targets include a shear trend with chip samples up to 14.0 g/t Au, surficial strike grades of up to 3.7 % Li₂O (outcrop) and 5.3 % Li₂O (historic stockpiles), and tin values > 1.0 % Sn, providing multi‑commodity upside.

Key Details

• Permit Scope: Authorization for 78 drill pad locations across the Volney property, giving maximum flexibility to test gold and lithium mineralization.
• Gold Target: Surface chip samples returned up to 14.0 g/t Au along a shear trend; drilling will test this strike‑parallel zone at depth.
• Lithium Targets: The Giant Volney pegmatite (635 m surficial strike) has shown recent grades of 3.7 % Li₂O from outcrop and 5.3 % Li₂O from historic stockpiles; drilling will assess depth extension.
• Tin By‑product Potential: Recent stockpile samples reported tin values greater than 1.0 % Sn, indicating possible by‑product revenue.
• Historical Context: Prior drilling and mining intersected only to ~50 m depth; the new program aims to explore below this level where mineralization remains open.
• Timeline: Drilling is expected to commence in the coming month following permit receipt.
• Management Quote: Dale Ginn, President & CEO, emphasized that the permit “positions us to move ahead with our inaugural drill program and evaluate its strong multi‑commodity potential.”

Notable Quotes

“We are very pleased to have secured our drill permit and to move into drilling at Volney. The property has not yet seen modern subsurface exploration, and this approval positions us to move ahead with our inaugural drill program and evaluate its strong multi‑commodity potential.” – Dale Ginn, President & CEO

The technical content of this release was reviewed and approved by Carl Ginn, P.Geo., a Qualified Person under NI 43‑101.