Lion Rock hits gold, spodumene at Volney project

Executive Summary

• Lion Rock Resources Inc. provided an update on its inaugural drill program at the Volney high-grade gold-lithium project in South Dakota, confirming the successful intersection of mineralized shear zones and spodumene-bearing pegmatites.
• The company has completed 10 drill holes totaling approximately 2,400 meters, with six holes targeting lithium-bearing pegmatites and four targeting gold-bearing structures.
• While assay results are currently pending, core logging and sampling have begun, with shipments to SGS in Denver underway; the company anticipates reporting significant assay results in the coming weeks.

Key Details

• Drilling Progress: 10 drill holes completed, totaling approximately 2,400 meters drilled.
• Target Breakdown:
  • 6 holes targeted lithium-bearing pegmatites.
  • 4 holes targeted gold-bearing structures.
• Geological Intersections:
  • Gold: Intersected sulphide-bearing shear intervals with associated quartz veining and silicification in altered rocks. Surface grab samples in the area have previously returned up to 14.0 grams per tonne Au.
  • Lithium: Spodumene-bearing pegmatites identified in multiple intercepts.
    • Specific Intercept (Hole VOL25-009): Intercepted two spodumene-bearing pegmatite zones:
      • 48.3 to 76.9 meters
      • 103.5 to 120.3 meters
    • These zones are near areas of previous surface sampling that returned up to 3.6% Li2O.
• Financial Context: The update follows a $5.3-million financing completed in Q3 2025, providing capital for the multiphase exploration program.
• Next Steps: Core is being logged and sampled; shipments to SGS in Denver have begun. Assay results will be reported as they become available.

Notable Quotes

• Dale Ginn, President and CEO: "The Volney drill program is proceeding at a strong, steady pace and we are highly encouraged by the geological features observed to date in the drill core. While assays are pending, I can state that we have multiple holes intersecting sulphide mineralization, shearing, veining and strong alteration in the areas we projected, based on high-grade gold mineralization documented at surface."
• Dale Ginn, President and CEO: "Likewise, all six drill holes targeting pegmatites have encountered spodumene-bearing zones, which have the potential to host high-grade lithium. Drilling is ongoing and we look forward to sharing a significant number of assays in the coming weeks."