Lion One Drills 728.56 g/t Gold over 0.7 m, 25 m Below Current Mine Development at Tuvatu Gold Mine in Fiji

The most recent news, dated November 18, 2025, announces significant high-grade gold results from underground drilling at the Tuvatu Gold Mine in Fiji. The highlight is an intercept of 728.56 g/t gold over 0.7 meters in hole TGC-0510, located approximately 25 meters below current mine development in Zone 5.

Other notable high-grade intercepts from the 26-hole, 2,322-meter program include: - 32.29 g/t gold over 3.0 m - 279.0 g/t gold over 0.3 m - 70.2 g/t gold over 1.0 m - 93.33 g/t gold over 0.7 m

The drilling targeted the down-dip extension of mineralization below current workings and up-dip mineralization. The company states that these intercepts are mostly within 50 meters of existing workings and are anticipated to be incorporated into the mine plan within the next 3 to 12 months.

The drill results are materially positive. While Lion One has a history of reporting bonanza-grade, narrow-vein intercepts, these results are significant for two key reasons: 1. Confirmation of Depth Extension: The highlight intercept of 728.56 g/t gold is 25 meters below existing mine levels. This confirms the vertical continuity of the high-grade system, which is critical for extending the mine life and increasing the resource base. 2. Proximity to Infrastructure: The intercepts are close to existing underground workings (within 50 meters). This implies that accessing this ore will require less capital and time compared to a new discovery far from current development, making it highly valuable for the near-term mine plan.

Looking at the historical context, the company is in a critical ramp-up phase. Operational performance has been inconsistent, with production setbacks in Q1 and Q2 2025 due to maintenance, weather, and ventilation project delays. A rebound in Q3 production (Oct 16 news) was a positive step. However, the company's financial position has been precarious, culminating in a large, highly dilutive financing round closed in October 2025 at C$0.32 per unit.

These strong drilling results provide fundamental validation of the Tuvatu deposit's quality and potential. They reinforce the geological model and give the market confidence that high-grade ounces can be added to the mine plan, which is essential for achieving profitability and justifying the recent capital raise. While not a "game changer" that solves the company's operational execution risks or massive share dilution, it is a significant de-risking event for future production and a strong positive catalyst.

Lion One Metals Limited is a Canadian mining company focused on its 100% owned and fully permitted Tuvatu Alkaline Gold Project, located in Fiji. Tuvatu is a high-grade, narrow-vein underground gold deposit. The company has advanced the project from exploration to production, currently operating in a 300 tonnes-per-day (tpd) "pilot plant" phase. The long-term plan is to expand the mill to 600-700 tpd. The project is characterized by bonanza-grade gold intercepts, and the company is actively conducting infill, grade control, and exploration drilling to expand the resource and guide near-term mining.