Lion One Metals produces 4,200 oz Au in Q3 2025

Executive Summary

• Lion One Metals reported preliminary quarterly gold production of 4,200 ounces for the quarter ending September 30, 2025, representing a 31% increase from the previous quarter.
• The company achieved record operational metrics, including a 39% increase in average head grade to 5.1 g/t Au, a record gold recovery of 83.9%, and record underground mine development of 1,712 meters.
• The release also announced a change in the Board of Directors, with Edward Collery stepping down and Todd Romaine appointed as an independent director.

Key Details

• Production Volume: 4,200 ounces of gold recovered.
• Head Grade: 5.1 grams per tonne (g/t) gold average, a 39% increase from the prior quarter.
• Recovery Rate: 83.9% gold recovery, a record for the quarter; included a record monthly recovery of 87.2% in July.
• Mill Performance:
  • 29,850 tonnes of mineralized material milled.
  • Mill utilization of 91% despite four days of planned maintenance.
  • Average throughput of approximately 328 tonnes per day, exceeding the nameplate capacity of 300 tonnes per day.
• Mine Performance:
  • 28,423 tonnes of mineralized material mined.
  • 1,712 meters of underground mine development completed, a record for the quarter.
  • Top three months of development at Tuvatu were all achieved during this quarter.
• Shrinkage Stope Results:
  • Completed production from the first shrinkage stope, producing 5,704 tonnes of material at an average grade of 10.60 g/t gold.
  • A second shrinkage stope is in development, anticipated to be twice the size of the first, contributing to production in Q4 2025 and Q1 2026.
• Operational Drivers: Increased mine development attributed to the completion of the mine ventilation project, addition of new mining equipment, and improved mining efficiency. Additional equipment is set to arrive on site.
• Future Outlook: Gold recoveries are anticipated to increase further upon the completion and commissioning of the flotation circuit within the next few months.
• Board Changes:
  • Edward (Ned) Collery stepped down from the Board of Directors.
  • Todd Romaine appointed as an independent director; he is an ESG expert with over 25 years of experience, including roles at Nevsun Resources and Galiano Gold.

Notable Quotes

• Ian Berzins, CEO: "We're very pleased with the results from this quarter. Both the mine and the mill performed well, with record recoveries achieved at the mill and record development achieved at the mine... As we continue to increase the pace of development at the mine and as we continue to expand the processing facilities at Tuvatu we're very excited for the future and anticipate that production will continue to increase."
• Walter Berukoff, Chairman: "This success is a direct result of the dedication and teamwork of our people in Fiji... Their hard work and commitment have set the stage for continued growth at Tuvatu."