Lion Rock completes phase 1 drilling at Volney

Executive Summary

• Lion Rock Resources Inc. has completed Phase 1 of its exploration drill program at the Volney Project in South Dakota, consisting of 15 drill holes totaling approximately 3,600 meters.
• The program successfully intersected multiple mineralized and altered shear zones with gold potential, as well as spodumene-bearing pegmatites targeting lithium and tantalum.
• Core processing is complete and samples have been shipped to SGS for assay; results are expected in the coming days and weeks, which will inform the planning of an expanded Phase 2 drill program.

Key Details

• Drilling Summary: Phase 1 is complete with 15 drill holes totaling ~3,600 meters of diamond drilling.
• Target Breakdown:
  • 5 holes targeted lithium-bearing pegmatites.
  • 5 holes targeted gold-bearing structures.
  • 5 holes targeted both lithium and gold mineralization.
• Gold Intersections: Drilling encountered multiple sulphide-bearing shear intervals with quartz veining and silicification in altered mafic volcanics and metasedimentary rocks. These characteristics match surface grab samples that returned up to 14.0 g/t Au.
• Lithium/Tantalum Intersections: Spodumene-bearing pegmatites were identified in multiple intercepts.
  • Hole VOL25-009: Intercepted two spodumene-bearing pegmatite zones:
    • 48.3 m to 76.9 m
    • 103.5 m to 120.3 m
  • These zones are near areas of previous surface sampling returning up to 3.6% Li2O.
  • Cassiterite and tantalite were also observed in drill core.
• Status: Core processing and sampling for final holes are complete; samples are at SGS in Denver, Colo. Assay results are pending.

Notable Quotes

• "The successful completion of phase 1 represents an important milestone for the Volney project. This inaugural program has efficiently tested a combination of gold-bearing structures and lithium-bearing pegmatites, highlighting Volney's potential as a multicommodity system with relevance to both precious metals and critical minerals." — Dale Ginn, President and CEO