Lion Copper and Gold Corp. Receives US$30.5 Million from Nuton to Advance Yerington Copper Project

Executive Summary

• Lion Copper and Gold Corp. received US$30.5 million from Nuton LLC (Rio Tinto subsidiary) under Stage 3 of its earn‑in agreement for the Yerington Copper Project.
• The funds will finance the Definitive Feasibility Study (DFS), permitting, engineering, environmental studies, and regulatory engagement, reducing dilution risk for shareholders.
• The investment underscores strategic validation of the project’s potential to supply domestic copper cathode and supports further development of Nuton® leaching technology.

Key Details

• Funding Amount: US$30.5 million received from Nuton LLC.
• Transaction Structure: Earn‑in Stage 3 cash contribution; no equity issued at this time, limiting shareholder dilution.
• Use of Proceeds: Advance the DFS and associated permitting activities, including technical optimization, engineering design, environmental impact studies, and regulatory engagement for the Yerington Copper Project in Nevada.
• Project Context: Yerington is a Tier‑1 U.S. jurisdiction copper project positioned to contribute to domestic copper cathode supply amid rising demand from electrification and critical‑mineral supply chain initiatives.
• Regulatory Goal: Progress toward qualification under the U.S. federal FAST‑41 permitting framework, aimed at streamlining major infrastructure and critical mineral projects.
• Technology Focus: Further refinement of Nuton® leaching technology to improve copper recoveries, potentially lower capital intensity, and reduce environmental footprint versus conventional processing routes.
• Strategic Significance: The cash injection represents a major execution milestone, validating the scale and strategic importance of Yerington and strengthening Lion CG’s partnership with Rio Tinto’s venture.

Notable Quotes

“This investment represents a major execution milestone for Lion CG and further validates the scale, quality and strategic importance of the Yerington Copper Project,” – John Banning, Chief Executive Officer, Lion Copper and Gold Corp.
“This substantial partner funding enables the Company to advance the DFS and permitting work without significant dilution and execution risk for Lion CG shareholders.” – John Banning

Materiality Assessment: Material – Positive (significant financing that advances a major project and reduces shareholder dilution).