Lion Rock Completes Phase 1 Drill Program at Volney Project, South Dakota

On January 22, 2026, Lion Rock Resources announced the completion of its Phase 1 drill program at the Volney Project in South Dakota. The company drilled 3,600 meters across 15 holes, exceeding the initially reported progress from December. The program targeted both gold-bearing shear zones and lithium-bearing pegmatites.

Key technical highlights include: - Visual Mineralization: Drill hole VOL25-009 intersected two significant intervals of spodumene-bearing pegmatites (28.6m from 48.3m depth and 16.8m from 103.5m depth). - Multi-Commodity Indicators: In addition to spodumene (lithium), the team observed cassiterite (tin) and tantalite. Gold targets showed sulphide-bearing shear intervals with quartz veining. - Status: All core processing is complete, and samples have been shipped to SGS Denver. Assays are pending and expected in "days and weeks." - Forward Plan: A Phase 2 drill program is being finalized pending the interpretation of Phase 1 results.

This news is Positive but routine in the lifecycle of an exploration program. The primary impact is the validation of the geological model; the drill bit is hitting the targeted structures (pegmatites and shear zones) where the magnetics and surface sampling suggested they would be. The specific mention of spodumene crystals in core is a critical de-risking step, distinguishing the project from pegmatites that are barren of lithium minerals.

However, the impact is tempered by the lack of assay data. Visual estimates of mineral abundance can be notoriously unreliable regarding economic grade. The market capitalization has risen significantly in anticipation of these results (from $0.13 to ~$0.50 over the last year). The completion of drilling signals that the "news flow vacuum" is ending, but the true material impact on valuation will depend entirely on whether the Li2O grades exceed 1.0% and Gold grades are economic.

Lion Rock Resources Inc. (TSXV: ROAR) is a Canadian junior exploration company focused on the Volney Project in the Black Hills of South Dakota, USA. * Flagship Asset: The Volney Project is a multi-commodity asset located on 142 hectares of private land, which provides a significant permitting advantage over federal land. * Targets: The project hosts the "Giant Volney" pegmatite (LCT type) targeting Lithium, Tin, and Tantalum, alongside a historical high-grade Gold system hosted in shear zones. * History: The district is a major past producer (Homestake Mine nearby produced >60M oz Au). Volney itself has historical high-grade surface samples (up to 5.3% Li2O and 189.5 g/t Au in float).