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FIJI GOLD
Tuvatu High Grade Gold Project
JANUARY 2017
DISCLAIMER
The information provided in this presentation is not intended to be a
comprehensive review of all matters and developments concerning the
Company and should be read in documents of the Company. The information
contained herein is not a substitute for detailed investigation or analysis. No
securities commission or regulatory authority has reviewed the accuracy or
adequacy of the information presented.
FORWARD-LOOKING STATEMENTS
This presentation contains statements and information that constitute
forward-looking information within the meaning of Canadian securities
legislation, referred to herein as "forward‐looking statements", include
statements regarding proposed exploration and development activities and
their timing, resource estimates, exploration potential and the PEA, including
estimates of capital and sustaining costs, anticipated internal rates of return,
mine production, estimated recoveries, mine life, estimated payback period
and net present values, opportunities to enhance the value of the Tuvatu
Gold Project and other plans and objectives of the Company.  In making the
forward-looking statements herein, the Company has applied several
material assumptions, including that (1) required approvals, permits and
financing will be obtained; (2) the proposed exploration and development of
the Company's properties will proceed as planned and that actual results will
be consistent management’s expectations; (3) with respect to mineral
resource estimates, the key assumptions and parameters on which such
estimates are based; (4) market fundamentals will result in sustained metals
and minerals prices; and (5) with respect to the PEA, the assumptions
underlying the PEA, that the proposed mine plan and recoveries will be
achieved, that capital costs and sustaining costs will be as estimated and
that no unforeseen accident, fire, ground instability, flooding, labor
disruption, equipment failure, metallurgical, environmental or other events
that could delay or increase the cost of development will occur.
Forward-looking statements are subject to a variety of known and unknown
risks, uncertainties and other factors which could cause actual events or
results to differ from those expressed or implied by the forward-looking
statements, including: delays or inability to obtain required government or
other regulatory approvals, permits or financing, the risk of unexpected
variations in mineral resources, grade or recovery rates, of failure of plant,
equipment or processes to operate as anticipated, of accidents, labor
disputes, and unanticipated delays in completing exploration and
development activities, the risk that estimated costs will be higher than
anticipated and the risk that the proposed mine plan and recoveries will not
be achieved, bad weather, exploration and development risks, actual results
of exploration and/or development activities being materially different from
those expected by management; uncertainties related to interpretation of
drill results and geological tests, failure to meet expenditure and financing
requirements, title matters, third party consents, operating hazards, metal
prices, political and economic factors, competitive factors and general
economic conditions.  Actual results may vary from those implied or
projected by forward-looking statements and therefore investors should not
place undue reliance on such statements.  The forward-looking statements
hereconjunction with all other disclosure in are made as at the date of this
presentation and the Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements except as
required by applicable securities legislation. 
TECHNICAL DISCLOSURE
The technical information in this presentation has been approved by Albert
Siega, P.Eng ., an employee of the Company and a Qualified Person as
defined by National Instrument “NI” 43-101 Standards of Disclosure for
Mineral Projects .
VATUKOULAVATUKOULA
WAFI GOLPUWAFI GOLPU
PORGERAPORGERA
LIHIRLIHIR
PNGPNG
TECTONIC PLATE
BOUNDARY
TECTONIC PLATE
BOUNDARY
South Pacific
Ring of Fire
Lihir, Porgera, Vatukoula:
Giant Volcanogenic
Gold Systems
Lihir, PNG
790 Mt @ 2.3 g/t Au(Newcrest)
Porgera, PNG
55 Mt @ 3.47 g/t Au(Barrick)
Wafi-Golpu, PNG
605 Mt @ 0.44 g/t Au(Harmony)
Vatukoula, Fiji (VGM)
21 Mt @ 6 g/t Au
Image: Viti Levu Gravity Contours
Source: 1996 Fiji Geophysical Survey
“TheEmperor(Vatukoula)Minesitswithinatrueworld
classmineralizationsystem… one of the 10 largest
epithermal gold systems ever discovered”
WH Ireland Research, Jan. 4, 2012
7M OZ. AU OVER 80 YEARS
4M OZ. RESOURCE REMAINS
HIGH GRADE GOLD
Fully Permitted Project; Mine Plan Includes
262,400 oz. Au @ 15.30 g/t Au through year 3
LOW CAPEX, LOW COST
US$48.6M capex for 600 tonne per day
operation Producing gold at cash costs of
$567 per oz.; 18 month construction
schedule
HIGH RATE OF RETURN
52% IRR on Initial Mine Plan; US$112 million
cash flow at US$1,200 Gold; 18 months
payback on capital
HIGH GRADE GOLD
Fully Permitted Project; Mine Plan Includes
262,400 oz. Au @ 15.30 g/t Au through year 3
LOW CAPEX, LOW COST
US$48.6M capex for 600 tonne per day
operation Producing gold at cash costs of
$567 per oz.; 18 month construction
schedule
HIGH RATE OF RETURN
52% IRR on Initial Mine Plan; US$112 million
cash flow at US$1,200 Gold; 18 months
payback on capital
TUVATU GOLD PROJECT
Tuvatu Mining Lease
Exploration Tenements
21 Year Surface Lease
Environmental Approvals
EIA & EMP, Waste & Water
Mine Management Plan
Community Support
TUVATU: FULLY PERMITTED
FIJI: A MINING FRIENDLY JURISDICITONFIJI: A MINING FRIENDLY JURISDICITON
“Mining will take Fiji forward; Tuvatu is a
model of what we can achieve economically,
socially and environmentally”
The Honorable Prime
Minister of Fiji,
Commodore Voreqe
Bainimarama delivering his
Tuvatu Mining Lease speech
on January 27, 2016
The Honorable Prime
Minister of Fiji,
Commodore Voreqe
Bainimarama delivering his
Tuvatu Mining Lease speech
on January 27, 2016
LEADERSHIP
WALTER H.
BERUKOFF,
Founder, Chairman & CEO
Red Lion Management
Real Estate, Agriculture,
Metals, Mining
Founder of Miramar,
Northern Orion, La Mancha
Resources, Lion One
WALTER H.
BERUKOFF,
Founder, Chairman & CEO
Red Lion Management
Real Estate, Agriculture,
Metals, Mining
Founder of Miramar,
Northern Orion, La Mancha
Resources, Lion One
STEPHEN MANN,
Geologist, Managing
Director
Past: BHP, Newcrest,
Managing Director
AREVA, Avocet Resources
(U3o8) Discoveries
include Frog’s Leg &
White Foil Gold Deposits
in WA
STEPHEN MANN,
Geologist, Managing
Director
Past: BHP, Newcrest,
Managing Director
AREVA, Avocet Resources
(U3o8) Discoveries
include Frog’s Leg &
White Foil Gold Deposits
in WA
RICHARD MELI,
CA, Director
Past: Global Mergers &
Acquisitions for Rio
Tinto, SVP Kennecott,
President La Mancha
Resources
RICHARD MELI,
CA, Director
Past: Global Mergers &
Acquisitions for Rio
Tinto, SVP Kennecott,
President La Mancha
Resources
KEVIN PUIL,
CFA, Director
Past: Analyst & Portfolio
Manager, Gissen &
Associates & Encompass
Fund in San Francisco;
Current Partner at RIVI
Capital
KEVIN PUIL,
CFA, Director
Past: Analyst & Portfolio
Manager, Gissen &
Associates & Encompass
Fund in San Francisco;
Current Partner at RIVI
Capital
LA MANCHA
Acquired in 2012 for $500 Million by N. Sawiris
Frog’s Leg & White Foil, WA: sold to Evolution for A$300 million in 2015
HassaiVMS,Sudan:44%soldforUS$100millionin2015
Ity Gold, Cote d’Ivoire: 55% sold to Endeavour for US$78 million 2015
La Mancha now holds
31% of Evolution Mining;
30% of Endeavour Mining
NORTHERN ORION
Acquired in 2007
for $1.1 Billion by Yamana
Mantua, Cuba
Bajo de la Alumbrera, Argentina
MIRAMAR
Acquired in 2008 for
$1.5 Billion by Newmont
Hope Bay, NWT (T-Mac Resources IPO 2015)
LA MANCHA
Acquired in 2012 for $500 Million by N. Sawiris
Frog’s Leg & White Foil, WA: sold to Evolution for A$300 million in 2015
HassaiVMS,Sudan:44%soldforUS$100millionin2015
Ity Gold, Cote d’Ivoire: 55% sold to Endeavour for US$78 million 2015
La Mancha now holds
31% of Evolution Mining;
30% of Endeavour Mining
NORTHERN ORION
Acquired in 2007
for $1.1 Billion by Yamana
Mantua, Cuba
Bajo de la Alumbrera, Argentina
MIRAMAR
Acquired in 2008 for
$1.5 Billion by Newmont
Hope Bay, NWT (T-Mac Resources IPO 2015)
(L): Lion One CEO Walter Berukoff (C): Lion One Lands Manager Moape Navia (R): Lion One Managing Director Stephen Mann(L): Lion One CEO Walter Berukoff (C): Lion One Lands Manager Moape Navia (R): Lion One Managing Director Stephen Mann
WORLD CLASS ASSETS & TRANSACTIONSWORLD CLASS ASSETS & TRANSACTIONS
20 YEARS IN THE MAKING
Tuvatu developed by Emperor Gold Mines 1997-2000 during Ivanhoe era;
Feasibility study completed on Tuvatu in 2000;
Over 80,000 meters drilled, underground development, trial mining;
Replacement value of sunk costs over $50 million
10 YEARS IN THE PLANNING
2007-2008 Red Lion acquired Emperor Gold Mines (Vatukoula)
2009 Emperor sold; Tuvatu acquired by Lion One Limited (Fiji)
2011 Lion One Metals public offering TSX-V January 2011
6 YEARS OF EXECUTION
Coming to Market in 2016 Fully Permitted & Well Funded
POISED FOR GROWTH
SIGNIFICANTLY DE-RISKED & DEVELOPMENT READY
CAPITAL STRUCTURE
$1.35 Warrants Expire March 16, 2018
Accelerated Expiry to 30 Days
Closing Price over $1.75 for 20 Days
PREVIOUS PRIVATE PLACEMENTS:
2011: C$11.5 million @ C$1.00
2011: C$14.2 million @ C$1.55
2016: C$38.2 million @ C$0.92
Institutional Ownership: 37%
Management 21%
Current Price: C$0.90
Current Market Cap: C$90M
Common Shares:
Warrants:
Options:
Fully Diluted:
101,712,044
41,536,436
5,800,000
149,048,480
AUGUST: ANSTEEL-CAPITALASIA EPC
A Global Fortune 500 Corporation in 2015
MOU for Construction of Tuvatu Gold Project
Includes Vendor Financing for 80% of Capex
SEPTEMBER: $38.2 MILLION PRIVATE PLACEMENT
Donald Smith & Co.(USA)14%
Franklin Gold & Precious Metals Fund (USA) 9.9%
JP Morgan Gold Fund (UK) 5.88%
MacKenzie Financial (Canada) 2.8%
RECENT NEWS
Capitalized
Development:
$9.0 M
Mining
Equipment
$5.9 M
Processing:
$13.3M
Infastructure
$7.6 M
Indirects
$2.6 M
EPC:
$2.1 M
Contingency:
$6.1 M
Owner’s Costs:
$2.1 M
Ansteel MOU: Vendor Financing for
up to 80% of Project Value
C$38.2 Million Private Placement
LIO Can Fund 20% Obligation
Potential Proceeds from Exercised
Warrants $56 million
Ability to Fund Aggressive
Exploration, Drilling, and Resource
Expansion Programs
Ansteel MOU: Vendor Financing for
up to 80% of Project Value
C$38.2 Million Private Placement
LIO Can Fund 20% Obligation
Potential Proceeds from Exercised
Warrants $56 million
Ability to Fund Aggressive
Exploration, Drilling, and Resource
Expansion Programs
FUNDING STATUS
PROJECT LOCATION
TUVATU MINING LEASE
LION ONE OFFICE
SABETO VALLEY ROAD
16KM TO TUVATU
HIGH GRADE GOLD
Low sulphidation epithermal gold system associated
with alkaline volcanic intrusive;
Gold is non-refractory and amenable to
conventional gravity flotation and leaching;
Veins extend over 600 m N-S; over 1km along strike;
39 veins identified (~2.2m to 9m width)outcropping
at surface and extending laterally and to depth, only
half fully reflected in the mine plan and current
resource estimate.
Low sulphidation epithermal gold system associated
with alkaline volcanic intrusive;
Gold is non-refractory and amenable to
conventional gravity flotation and leaching;
Veins extend over 600 m N-S; over 1km along strike;
39 veins identified (~2.2m to 9m width)outcropping
at surface and extending laterally and to depth, only
half fully reflected in the mine plan and current
resource estimate.
SIGNIFICANT DRILL INTERSECTIONS
AT DEPTH INCLUDE:
TUDDH 160: 3.65m @ 291.77g/t Au from 332m
TUDDH 123: 2.05m @ 13.74g/t Au from 308m
TUDDH 176: 2.75m @ 26.24g/t Au from 496m
TUDDH 212: 2.00m @ 24.05g/t Au from 523m
TUDDH 100: 2.00m @ 305.07g/t Au from 253m
SIGNIFICANT DRILL INTERSECTIONS
AT DEPTH INCLUDE:
TUDDH 160: 3.65m @ 291.77g/t Au from 332m
TUDDH 123: 2.05m @ 13.74g/t Au from 308m
TUDDH 176: 2.75m @ 26.24g/t Au from 496m
TUDDH 212: 2.00m @ 24.05g/t Au from 523m
TUDDH 100: 2.00m @ 305.07g/t Au from 253m
DRILLING & DEVELOPMENT
TUVATU DECLINE
HIGH GRADE HIGHLIGHTS
Interval
m
g/t au
2.70
1.80
3.45
2.50
1.90
3.25
16.23
17.31
17.48
18.06
18.18
19.09
10-20 g/t Au
Interval
m
g/t au
2.10
2.52
3.50
2.00
2.70
3.00
33.10
33.16
33.21
35.50
35.68
36.04
20-40 g/t Au
Interval
m
g/t au
2.40
3.30
3.40
3.00
3.45
2.95
74.89
79.47
79.37
83.85
84.83
92.48
40-100 g/t Au
Interval
m
g/t au
3.60
3.10
2.95
2.50
2.80
2.35
109.19
116.32
118.41
122.65
203.59
290.60
>100 g/t Au
HIGH GRADE HIGHLIGHTS
UNDERGROUND CHANNEL SAMPLING TUVATU DECLINE
TUVATU MINE PLAN
100M
PROJECTION OF
CURRENT DECLINE
PROJECTION OF
CURRENT DECLINE
100M
TUVATU UNDERGROUND
Existing decline includes 1,340 m of underground
development to 240 m depth
Geometry of the steeply dipping parallel veins amenable
to low cost shrinkage stoping and advance
Minimum widths in mine plan of 1.2 m plus 20%
dilution at 5.0 g/t grade cutoff;
Up to 8m widths
Potential to pay back capital on gold mined from
the existing exploration decline in years 1-3
Cash Costs /
All-in Sustaining Costs
Gold Production / Head Grades
Through 7 Years
$567
$779
352,931 oz.
@ 11.31 g/t Au
Gold Production / Head Grades
Through 3 Years
262,386 oz.
@ 15.30 g/t Au
DEVELOPMENT AGENDA
Dewatering, drilling, and development of existing
decline
Commencementofmining,extracting,andstockpiling
Driveseconddeclinefromplantsite;competentrock
advancerate100mpermonth; $2,250permeter
Construction of processing plant:
Conventional two stage crushing & grinding with
gravity concentrator, flotation and leaching
Dewatering, drilling, and development of existing
decline
Commencementofmining,extracting,andstockpiling
Driveseconddeclinefromplantsite;competentrock
advancerate100mpermonth; $2,250permeter
Construction of processing plant:
Conventional two stage crushing & grinding with
gravity concentrator, flotation and leaching
200m
Existing Decline
New Decline
Plant Site
AREAS UNDER LICENSE
TUVATU
NADI
INTERNATIONAL
AIRPORT
LAUTOKA DEEPWATER PORT
ISLAND OF VITI LEVU, FIJI
UNDER APPLICATION
EXPLORATION LICENSE
MINING LEASE
UNDER APPLICATION
EXPLORATION LICENSE
MINING LEASE
NAVILAWA TENEMENT GEOLOGY
VATUKOULA:
7 MILLION OZ. AU
HISTORIC PRODUCTION
TUVATU
NAVILAWA TENEMENT APPLICATION
NAVILAWA MONZONITE & MICROMONZONITE INTRUSIVE
5.50 KM FROM JOMAKI RIDGE TO BANANA CREEK
TUVATU RESOURCE AREA
& MINING LEASE (SML 62)
NAVILAWA HISTORIC EXPLORATION
AREA UNDER APPLICATIONAREA UNDER APPLICATIONAREA UNDER APPLICATION
LION ONE TENEMENTSLION ONE TENEMENTS
NAVILAWA
HISTORIC
EXPLORATION
Historic
Geochemical
Surface Data
Lion One Tenements
Exploration License
Mining Lease
MINING LEASE PROSPECTS
385 hectare Special Mining Lease;
21 Year Surface Lease
Contains current resource and
infrastructure including tailings dam
Contains most significant exploration
prospects in area
Room for expansion without further
permitting
385 hectare Special Mining Lease;
21 Year Surface Lease
Contains current resource and
infrastructure including tailings dam
Contains most significant exploration
prospects in area
Room for expansion without further
permitting
Discovery Underway at Jomaki Ridge; a
densely veined zone between the contact
of the monzonite intrusive and the
surrounding volcanics
MINING LEASE PROSPECTS
385 hectare Special Mining Lease
21 Year Surface Lease
Contains current resource and
infrastructure including tailings dam
Contains most significant exploration
prospects in area
Room for expansion without further
permitting
JOMAKI RIDGE DISCOVERY
Rock chips to 125.5 g/t
Au;
Channel samples of
11.9 g/t over 0.25m;
Strike of around 140 m;
Stockwork zone of high
vein intensity.
MINING LEASE PROSPECTS
Nubunidike Vein
30.75 g/t Au over 0.3m; Vein
traceable for 370m; Hornet Creek
6g/t Au over 0.5m; Vein traceable for
290m; 290 Vein 293.5 g/t over
0.15m With visible wire gold
Ura Creek
2m wide shear zone out- cropping
along 200m strike. Discovery
outcrop 102 g/t over 0.40m Rock
chips up to 56 g/t Au; Channel
samples up to 40 g/t over 0.15m
Jomaki Ridge
Rock chips to 125.5 g/t Au
Channels of 11.9 g/t over 0.25m;
strike of 140m. Brecciated stockwork
zone of high vein intensity.
SABETO VALLEY NAVILAWA CALDERA
SABETO RANGE
TUVATU NORTH JOMAKI RIDGE
FULLY PERMITTED & DEVELOPMENT READY
Building a solid revenue generator in a mining friendly jurisdiction with the ability to internally
fund aggressive resource expansion and exploration in Fiji’s emerging Tuvatu goldfield
SCARSDALE EQUITIES – JUNE 2016
We are initiating research coverage of Lion One with a Buy rating and price target of
C$1.40 per share
WALTER H. BERUKOFF – PROVEN COMPANY BUILDER
Credited with selling three mining startups he founded to major mining companies for $3
Billion in aggregate value.
RECAP
APPENDIX
TUVATU GOLD PRICE SENSITIVITIES
ON CURRENT MINE PLAN
REFER TO SEDAR FILED NI 43-101 PEA TECHNICAL REPORT DATED JULY 14, 2015
GOLD PRICE
PER OZ.
PAYBACK
AFTER TAX (MONTHS)
NPV 5%
AFTER TAX
IRR
AFTER TAX
CASH FLOW
AFTER TAX (7 YEARS)
1,000
1,100
1,200
1,300
1,400
1,500
33%
43%
52%
62%
71%
79%
24
21
18
16
15
13
45.22
65.50
86.64
107.79
128.93
149.94
62.37
87.05
112.66
138.26
163.87
189.30
1.0
3.0
5.0
CUT OFF
G/T AU
1,943,000
1,101,000
683,000
TONNES
5.61
8.46
11.25
G/T
350,300
299,500
247,000
OZ.AU
3,022,000
1,506,000
872,000
TONNES
5.8
9.7
13.9
G/T
561,000
468,000
390,000
OZ.AU
INDICATED RESOURCE (DILUTED) INFERRED RESOURCE (DILUTED)
ACQUISITION TIMELINE
Tuvatu
discovered
by
Geopacific
Ivanhoe
acquires
majority
interest of
Emperor
Emperor
Gold Mines
Acquired by
DRD
Emperor
Gold assets
sold by Red
Lion
Tuvatu
Mining
Lease
Granted
Tuvatu EIA
Completed
21 Year
Surface Rights
Agreement
Signed
1987 1997 2000 2004 2008 2011 2013 2014 2016
Tuvatu
acquired
By Emperor
Gold Mines
Tuvatu
Feasibility
Study
Completed
Emperor
Gold assets
acquired by
Red Lion
Tuvatu
acquired by
Lion One
Metals
z
Tuvatu was in the development pipeline of Emperor Gold Mines when all of the Fijian assets of Emperor were
acquired in 2008 by Red Lion Management; Red Lion subsequently sold the Emperor gold mine to Vatukoula
Gold Mines and funded the acquisition of Tuvatu in a new company, Lion One Metals Limited, in 2011.
“In addition to the gold currently produced at Vatukoula, Emperor has identified a significant resource at Tuvatu,
also located on the island of Viti Levu, where operations are expected to begin as early as 1999 at a
capacity of more than 100,000 ounces of gold a year. The company is also continuing further exploration and is
currently evaluating the potential for a low-cost underground mine near Fiji’s international airport at Nadi.”
- 1997 Annual Report, Indochina Goldfields (Ivanhoe Mines)
HIGHEST GRADE GOLD MINES
VSOURCE: MINING.COM ARTICLE “THE WORLD’S HIGHEST GRADE GOLD MINES”
VLADIMIR BASOV JULY 16, 2015
MINE COUNTRY OWNER GRADE G/T TONNES OZ .AU
Fire Creek
Macassa
Kedrovka
Turquoise Ridge
Toguraci
Orcopampa
Dvoinoye
Pinson
Midas
Tuvatu
Pimenton
USA
Canada
Russia
USA
Indonesia
Peru
Russia
USA
USA
Fiji
Chile
Klondex
KirklandLake
Zapadnaya
Barrick
Newcrest
Buenaventura
Kinross
Atna
Klondex
Lion One
Cerro Grande
44.1
22.2
22
16.9
16
15.8
15
13.8
12.9
11.3
11.1
170,000
1,330,000
380,000
10,932,000
1,000,000
630,000
2,137,000
353,000
220,000
1,125,000
138,000
172,000
950,000
269,000
5,943,000
514,000
321,000
1,028,000
157,000
92,000
352,000
49,000
Ore reserves are Proven & Probable, except for Kedrovka, where A+B categories calculated Resource Figures
(not reserves) for Tuvatu based on production summary in 2015 PEA Technical Report
TUVATU PRODUCTION SUMMARY
PROJECT PRODUCTION SUMMARY BASIS OF ESTIMATE
Total ore mined and process
Average head grade
Contained gold
Recovered gold
Average recovery
Production mine life
Nominal production rate
Average annual production
1,125,548 tonnes (dry)
11.30 g/t Au per tonne
408,958 oz. Au
352,931 oz. Au
86.3%
6.16 years
219,000 tonnes per year
182,802 tonnes per year
TUVATU BASE CASE ECONOMICS
REFER TO SEDAR FILED NI 43-101 PEA TECHNICAL REPORT DATED JULY 14, 2015
BASIS OF ESTIMATE (based on US$1,200 gold price) BASIS OF ESTIMATE
Revenue from gold
Total cash cost
(excluding royalties)
Total cash cost
(including royalties)
All-in costs
Capital expenditures
(LOM)
Initial capital investment
$423 million
$453 per oz. Au
$567 per oz. Au
$778 per oz. Au
$78.60 million
$48.60 million
BASIS OF ESTIMATE
AFTER-TAX ECONOMICS
PRE-TAX ECONOMICS
Free cash flow
Internal Rate of Return
Project NPV 5%
Payback period
Free cash flow
Internal Rate of Return
Project NPV 5%
$148.73 million
62%
$116.99 million
1.5 years
$112.54 million
52.3%
$86.54 million
TOP HIGH GRADE DRILL INTERCEPTS (21-40)
34.90
3.40
54.00
53.00
211.50
418.00
209.76
28.80
37.75
307.10
7.63
162.70
1.10
115.00
437.35
147.45
60.00
123.05
107.85
259.10
35.55
3.8
55
54
212.15
418.5
210.26
29.1
38.35
307.6
7.73
162.95
1.95
115.5
437.8
147.85
61
123.25
108.05
259.5
TUG-013
TUG-008
TURC-174
TURC-174
TUDDH-076
TUDDH-160
TUDDH-228
TUG-005
TUG-001
TUDDH-207
TUG-087
TUDDH-101
TUG-1793
TUDDH-045
TUDDH-176
TUG-077
TURC-137
TUG-081
TUDDH-078
TUDDH-130
TUG560
TUG10
TURC143175
TURC143174
TU14392
TU122500
TU149537
TU142477
TU142022
TU144019
TUG5503
TU15264
TUG1795
TU112548
TU15912
TUG6314
TU136262
TUG5257
TU13226
TU127046
0.65
0.40
1.00
1.00
0.65
0.50
0.50
0.30
0.60
0.50
1.00
0.25
0.85
0.50
0.45
0.40
1.00
0.20
0.20
0.40
Hole ID Sample No. From m To m Length mg/t Au
156
155
155
152
150
141
141
136
133
125
121
119
117
116
116
114
114
112
110
110
THANK YOU
LION ONE METALS LIMITED
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Lion One Presentation - January 2017

  • 1. FIJI GOLD Tuvatu High Grade Gold Project JANUARY 2017
  • 2. DISCLAIMER The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning the Company and should be read in documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented. FORWARD-LOOKING STATEMENTS This presentation contains statements and information that constitute forward-looking information within the meaning of Canadian securities legislation, referred to herein as "forward‐looking statements", include statements regarding proposed exploration and development activities and their timing, resource estimates, exploration potential and the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries, mine life, estimated payback period and net present values, opportunities to enhance the value of the Tuvatu Gold Project and other plans and objectives of the Company.  In making the forward-looking statements herein, the Company has applied several material assumptions, including that (1) required approvals, permits and financing will be obtained; (2) the proposed exploration and development of the Company's properties will proceed as planned and that actual results will be consistent management’s expectations; (3) with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; (4) market fundamentals will result in sustained metals and minerals prices; and (5) with respect to the PEA, the assumptions underlying the PEA, that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including: delays or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing exploration and development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, bad weather, exploration and development risks, actual results of exploration and/or development activities being materially different from those expected by management; uncertainties related to interpretation of drill results and geological tests, failure to meet expenditure and financing requirements, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions.  Actual results may vary from those implied or projected by forward-looking statements and therefore investors should not place undue reliance on such statements.  The forward-looking statements hereconjunction with all other disclosure in are made as at the date of this presentation and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements except as required by applicable securities legislation.  TECHNICAL DISCLOSURE The technical information in this presentation has been approved by Albert Siega, P.Eng ., an employee of the Company and a Qualified Person as defined by National Instrument “NI” 43-101 Standards of Disclosure for Mineral Projects .
  • 3. VATUKOULAVATUKOULA WAFI GOLPUWAFI GOLPU PORGERAPORGERA LIHIRLIHIR PNGPNG TECTONIC PLATE BOUNDARY TECTONIC PLATE BOUNDARY South Pacific Ring of Fire Lihir, Porgera, Vatukoula: Giant Volcanogenic Gold Systems Lihir, PNG 790 Mt @ 2.3 g/t Au(Newcrest) Porgera, PNG 55 Mt @ 3.47 g/t Au(Barrick) Wafi-Golpu, PNG 605 Mt @ 0.44 g/t Au(Harmony) Vatukoula, Fiji (VGM) 21 Mt @ 6 g/t Au
  • 4. Image: Viti Levu Gravity Contours Source: 1996 Fiji Geophysical Survey “TheEmperor(Vatukoula)Minesitswithinatrueworld classmineralizationsystem… one of the 10 largest epithermal gold systems ever discovered” WH Ireland Research, Jan. 4, 2012 7M OZ. AU OVER 80 YEARS 4M OZ. RESOURCE REMAINS
  • 5. HIGH GRADE GOLD Fully Permitted Project; Mine Plan Includes 262,400 oz. Au @ 15.30 g/t Au through year 3 LOW CAPEX, LOW COST US$48.6M capex for 600 tonne per day operation Producing gold at cash costs of $567 per oz.; 18 month construction schedule HIGH RATE OF RETURN 52% IRR on Initial Mine Plan; US$112 million cash flow at US$1,200 Gold; 18 months payback on capital HIGH GRADE GOLD Fully Permitted Project; Mine Plan Includes 262,400 oz. Au @ 15.30 g/t Au through year 3 LOW CAPEX, LOW COST US$48.6M capex for 600 tonne per day operation Producing gold at cash costs of $567 per oz.; 18 month construction schedule HIGH RATE OF RETURN 52% IRR on Initial Mine Plan; US$112 million cash flow at US$1,200 Gold; 18 months payback on capital TUVATU GOLD PROJECT
  • 6. Tuvatu Mining Lease Exploration Tenements 21 Year Surface Lease Environmental Approvals EIA & EMP, Waste & Water Mine Management Plan Community Support TUVATU: FULLY PERMITTED FIJI: A MINING FRIENDLY JURISDICITONFIJI: A MINING FRIENDLY JURISDICITON “Mining will take Fiji forward; Tuvatu is a model of what we can achieve economically, socially and environmentally” The Honorable Prime Minister of Fiji, Commodore Voreqe Bainimarama delivering his Tuvatu Mining Lease speech on January 27, 2016 The Honorable Prime Minister of Fiji, Commodore Voreqe Bainimarama delivering his Tuvatu Mining Lease speech on January 27, 2016
  • 7. LEADERSHIP WALTER H. BERUKOFF, Founder, Chairman & CEO Red Lion Management Real Estate, Agriculture, Metals, Mining Founder of Miramar, Northern Orion, La Mancha Resources, Lion One WALTER H. BERUKOFF, Founder, Chairman & CEO Red Lion Management Real Estate, Agriculture, Metals, Mining Founder of Miramar, Northern Orion, La Mancha Resources, Lion One STEPHEN MANN, Geologist, Managing Director Past: BHP, Newcrest, Managing Director AREVA, Avocet Resources (U3o8) Discoveries include Frog’s Leg & White Foil Gold Deposits in WA STEPHEN MANN, Geologist, Managing Director Past: BHP, Newcrest, Managing Director AREVA, Avocet Resources (U3o8) Discoveries include Frog’s Leg & White Foil Gold Deposits in WA RICHARD MELI, CA, Director Past: Global Mergers & Acquisitions for Rio Tinto, SVP Kennecott, President La Mancha Resources RICHARD MELI, CA, Director Past: Global Mergers & Acquisitions for Rio Tinto, SVP Kennecott, President La Mancha Resources KEVIN PUIL, CFA, Director Past: Analyst & Portfolio Manager, Gissen & Associates & Encompass Fund in San Francisco; Current Partner at RIVI Capital KEVIN PUIL, CFA, Director Past: Analyst & Portfolio Manager, Gissen & Associates & Encompass Fund in San Francisco; Current Partner at RIVI Capital
  • 8. LA MANCHA Acquired in 2012 for $500 Million by N. Sawiris Frog’s Leg & White Foil, WA: sold to Evolution for A$300 million in 2015 HassaiVMS,Sudan:44%soldforUS$100millionin2015 Ity Gold, Cote d’Ivoire: 55% sold to Endeavour for US$78 million 2015 La Mancha now holds 31% of Evolution Mining; 30% of Endeavour Mining NORTHERN ORION Acquired in 2007 for $1.1 Billion by Yamana Mantua, Cuba Bajo de la Alumbrera, Argentina MIRAMAR Acquired in 2008 for $1.5 Billion by Newmont Hope Bay, NWT (T-Mac Resources IPO 2015) LA MANCHA Acquired in 2012 for $500 Million by N. Sawiris Frog’s Leg & White Foil, WA: sold to Evolution for A$300 million in 2015 HassaiVMS,Sudan:44%soldforUS$100millionin2015 Ity Gold, Cote d’Ivoire: 55% sold to Endeavour for US$78 million 2015 La Mancha now holds 31% of Evolution Mining; 30% of Endeavour Mining NORTHERN ORION Acquired in 2007 for $1.1 Billion by Yamana Mantua, Cuba Bajo de la Alumbrera, Argentina MIRAMAR Acquired in 2008 for $1.5 Billion by Newmont Hope Bay, NWT (T-Mac Resources IPO 2015) (L): Lion One CEO Walter Berukoff (C): Lion One Lands Manager Moape Navia (R): Lion One Managing Director Stephen Mann(L): Lion One CEO Walter Berukoff (C): Lion One Lands Manager Moape Navia (R): Lion One Managing Director Stephen Mann WORLD CLASS ASSETS & TRANSACTIONSWORLD CLASS ASSETS & TRANSACTIONS
  • 9. 20 YEARS IN THE MAKING Tuvatu developed by Emperor Gold Mines 1997-2000 during Ivanhoe era; Feasibility study completed on Tuvatu in 2000; Over 80,000 meters drilled, underground development, trial mining; Replacement value of sunk costs over $50 million 10 YEARS IN THE PLANNING 2007-2008 Red Lion acquired Emperor Gold Mines (Vatukoula) 2009 Emperor sold; Tuvatu acquired by Lion One Limited (Fiji) 2011 Lion One Metals public offering TSX-V January 2011 6 YEARS OF EXECUTION Coming to Market in 2016 Fully Permitted & Well Funded POISED FOR GROWTH SIGNIFICANTLY DE-RISKED & DEVELOPMENT READY
  • 10. CAPITAL STRUCTURE $1.35 Warrants Expire March 16, 2018 Accelerated Expiry to 30 Days Closing Price over $1.75 for 20 Days PREVIOUS PRIVATE PLACEMENTS: 2011: C$11.5 million @ C$1.00 2011: C$14.2 million @ C$1.55 2016: C$38.2 million @ C$0.92 Institutional Ownership: 37% Management 21% Current Price: C$0.90 Current Market Cap: C$90M Common Shares: Warrants: Options: Fully Diluted: 101,712,044 41,536,436 5,800,000 149,048,480
  • 11. AUGUST: ANSTEEL-CAPITALASIA EPC A Global Fortune 500 Corporation in 2015 MOU for Construction of Tuvatu Gold Project Includes Vendor Financing for 80% of Capex SEPTEMBER: $38.2 MILLION PRIVATE PLACEMENT Donald Smith & Co.(USA)14% Franklin Gold & Precious Metals Fund (USA) 9.9% JP Morgan Gold Fund (UK) 5.88% MacKenzie Financial (Canada) 2.8% RECENT NEWS
  • 12. Capitalized Development: $9.0 M Mining Equipment $5.9 M Processing: $13.3M Infastructure $7.6 M Indirects $2.6 M EPC: $2.1 M Contingency: $6.1 M Owner’s Costs: $2.1 M Ansteel MOU: Vendor Financing for up to 80% of Project Value C$38.2 Million Private Placement LIO Can Fund 20% Obligation Potential Proceeds from Exercised Warrants $56 million Ability to Fund Aggressive Exploration, Drilling, and Resource Expansion Programs Ansteel MOU: Vendor Financing for up to 80% of Project Value C$38.2 Million Private Placement LIO Can Fund 20% Obligation Potential Proceeds from Exercised Warrants $56 million Ability to Fund Aggressive Exploration, Drilling, and Resource Expansion Programs FUNDING STATUS
  • 13. PROJECT LOCATION TUVATU MINING LEASE LION ONE OFFICE SABETO VALLEY ROAD 16KM TO TUVATU
  • 14. HIGH GRADE GOLD Low sulphidation epithermal gold system associated with alkaline volcanic intrusive; Gold is non-refractory and amenable to conventional gravity flotation and leaching; Veins extend over 600 m N-S; over 1km along strike; 39 veins identified (~2.2m to 9m width)outcropping at surface and extending laterally and to depth, only half fully reflected in the mine plan and current resource estimate. Low sulphidation epithermal gold system associated with alkaline volcanic intrusive; Gold is non-refractory and amenable to conventional gravity flotation and leaching; Veins extend over 600 m N-S; over 1km along strike; 39 veins identified (~2.2m to 9m width)outcropping at surface and extending laterally and to depth, only half fully reflected in the mine plan and current resource estimate. SIGNIFICANT DRILL INTERSECTIONS AT DEPTH INCLUDE: TUDDH 160: 3.65m @ 291.77g/t Au from 332m TUDDH 123: 2.05m @ 13.74g/t Au from 308m TUDDH 176: 2.75m @ 26.24g/t Au from 496m TUDDH 212: 2.00m @ 24.05g/t Au from 523m TUDDH 100: 2.00m @ 305.07g/t Au from 253m SIGNIFICANT DRILL INTERSECTIONS AT DEPTH INCLUDE: TUDDH 160: 3.65m @ 291.77g/t Au from 332m TUDDH 123: 2.05m @ 13.74g/t Au from 308m TUDDH 176: 2.75m @ 26.24g/t Au from 496m TUDDH 212: 2.00m @ 24.05g/t Au from 523m TUDDH 100: 2.00m @ 305.07g/t Au from 253m
  • 16. HIGH GRADE HIGHLIGHTS Interval m g/t au 2.70 1.80 3.45 2.50 1.90 3.25 16.23 17.31 17.48 18.06 18.18 19.09 10-20 g/t Au Interval m g/t au 2.10 2.52 3.50 2.00 2.70 3.00 33.10 33.16 33.21 35.50 35.68 36.04 20-40 g/t Au Interval m g/t au 2.40 3.30 3.40 3.00 3.45 2.95 74.89 79.47 79.37 83.85 84.83 92.48 40-100 g/t Au Interval m g/t au 3.60 3.10 2.95 2.50 2.80 2.35 109.19 116.32 118.41 122.65 203.59 290.60 >100 g/t Au HIGH GRADE HIGHLIGHTS UNDERGROUND CHANNEL SAMPLING TUVATU DECLINE
  • 17. TUVATU MINE PLAN 100M PROJECTION OF CURRENT DECLINE
  • 18. PROJECTION OF CURRENT DECLINE 100M TUVATU UNDERGROUND Existing decline includes 1,340 m of underground development to 240 m depth Geometry of the steeply dipping parallel veins amenable to low cost shrinkage stoping and advance Minimum widths in mine plan of 1.2 m plus 20% dilution at 5.0 g/t grade cutoff; Up to 8m widths Potential to pay back capital on gold mined from the existing exploration decline in years 1-3 Cash Costs / All-in Sustaining Costs Gold Production / Head Grades Through 7 Years $567 $779 352,931 oz. @ 11.31 g/t Au Gold Production / Head Grades Through 3 Years 262,386 oz. @ 15.30 g/t Au
  • 19. DEVELOPMENT AGENDA Dewatering, drilling, and development of existing decline Commencementofmining,extracting,andstockpiling Driveseconddeclinefromplantsite;competentrock advancerate100mpermonth; $2,250permeter Construction of processing plant: Conventional two stage crushing & grinding with gravity concentrator, flotation and leaching Dewatering, drilling, and development of existing decline Commencementofmining,extracting,andstockpiling Driveseconddeclinefromplantsite;competentrock advancerate100mpermonth; $2,250permeter Construction of processing plant: Conventional two stage crushing & grinding with gravity concentrator, flotation and leaching 200m Existing Decline New Decline Plant Site
  • 20. AREAS UNDER LICENSE TUVATU NADI INTERNATIONAL AIRPORT LAUTOKA DEEPWATER PORT ISLAND OF VITI LEVU, FIJI UNDER APPLICATION EXPLORATION LICENSE MINING LEASE UNDER APPLICATION EXPLORATION LICENSE MINING LEASE
  • 21. NAVILAWA TENEMENT GEOLOGY VATUKOULA: 7 MILLION OZ. AU HISTORIC PRODUCTION TUVATU
  • 22. NAVILAWA TENEMENT APPLICATION NAVILAWA MONZONITE & MICROMONZONITE INTRUSIVE 5.50 KM FROM JOMAKI RIDGE TO BANANA CREEK
  • 23. TUVATU RESOURCE AREA & MINING LEASE (SML 62) NAVILAWA HISTORIC EXPLORATION AREA UNDER APPLICATIONAREA UNDER APPLICATIONAREA UNDER APPLICATION LION ONE TENEMENTSLION ONE TENEMENTS
  • 25. MINING LEASE PROSPECTS 385 hectare Special Mining Lease; 21 Year Surface Lease Contains current resource and infrastructure including tailings dam Contains most significant exploration prospects in area Room for expansion without further permitting 385 hectare Special Mining Lease; 21 Year Surface Lease Contains current resource and infrastructure including tailings dam Contains most significant exploration prospects in area Room for expansion without further permitting Discovery Underway at Jomaki Ridge; a densely veined zone between the contact of the monzonite intrusive and the surrounding volcanics
  • 26. MINING LEASE PROSPECTS 385 hectare Special Mining Lease 21 Year Surface Lease Contains current resource and infrastructure including tailings dam Contains most significant exploration prospects in area Room for expansion without further permitting
  • 27. JOMAKI RIDGE DISCOVERY Rock chips to 125.5 g/t Au; Channel samples of 11.9 g/t over 0.25m; Strike of around 140 m; Stockwork zone of high vein intensity.
  • 28. MINING LEASE PROSPECTS Nubunidike Vein 30.75 g/t Au over 0.3m; Vein traceable for 370m; Hornet Creek 6g/t Au over 0.5m; Vein traceable for 290m; 290 Vein 293.5 g/t over 0.15m With visible wire gold Ura Creek 2m wide shear zone out- cropping along 200m strike. Discovery outcrop 102 g/t over 0.40m Rock chips up to 56 g/t Au; Channel samples up to 40 g/t over 0.15m Jomaki Ridge Rock chips to 125.5 g/t Au Channels of 11.9 g/t over 0.25m; strike of 140m. Brecciated stockwork zone of high vein intensity.
  • 29. SABETO VALLEY NAVILAWA CALDERA SABETO RANGE TUVATU NORTH JOMAKI RIDGE
  • 30. FULLY PERMITTED & DEVELOPMENT READY Building a solid revenue generator in a mining friendly jurisdiction with the ability to internally fund aggressive resource expansion and exploration in Fiji’s emerging Tuvatu goldfield SCARSDALE EQUITIES – JUNE 2016 We are initiating research coverage of Lion One with a Buy rating and price target of C$1.40 per share WALTER H. BERUKOFF – PROVEN COMPANY BUILDER Credited with selling three mining startups he founded to major mining companies for $3 Billion in aggregate value. RECAP
  • 32. TUVATU GOLD PRICE SENSITIVITIES ON CURRENT MINE PLAN REFER TO SEDAR FILED NI 43-101 PEA TECHNICAL REPORT DATED JULY 14, 2015 GOLD PRICE PER OZ. PAYBACK AFTER TAX (MONTHS) NPV 5% AFTER TAX IRR AFTER TAX CASH FLOW AFTER TAX (7 YEARS) 1,000 1,100 1,200 1,300 1,400 1,500 33% 43% 52% 62% 71% 79% 24 21 18 16 15 13 45.22 65.50 86.64 107.79 128.93 149.94 62.37 87.05 112.66 138.26 163.87 189.30 1.0 3.0 5.0 CUT OFF G/T AU 1,943,000 1,101,000 683,000 TONNES 5.61 8.46 11.25 G/T 350,300 299,500 247,000 OZ.AU 3,022,000 1,506,000 872,000 TONNES 5.8 9.7 13.9 G/T 561,000 468,000 390,000 OZ.AU INDICATED RESOURCE (DILUTED) INFERRED RESOURCE (DILUTED)
  • 33. ACQUISITION TIMELINE Tuvatu discovered by Geopacific Ivanhoe acquires majority interest of Emperor Emperor Gold Mines Acquired by DRD Emperor Gold assets sold by Red Lion Tuvatu Mining Lease Granted Tuvatu EIA Completed 21 Year Surface Rights Agreement Signed 1987 1997 2000 2004 2008 2011 2013 2014 2016 Tuvatu acquired By Emperor Gold Mines Tuvatu Feasibility Study Completed Emperor Gold assets acquired by Red Lion Tuvatu acquired by Lion One Metals z Tuvatu was in the development pipeline of Emperor Gold Mines when all of the Fijian assets of Emperor were acquired in 2008 by Red Lion Management; Red Lion subsequently sold the Emperor gold mine to Vatukoula Gold Mines and funded the acquisition of Tuvatu in a new company, Lion One Metals Limited, in 2011. “In addition to the gold currently produced at Vatukoula, Emperor has identified a significant resource at Tuvatu, also located on the island of Viti Levu, where operations are expected to begin as early as 1999 at a capacity of more than 100,000 ounces of gold a year. The company is also continuing further exploration and is currently evaluating the potential for a low-cost underground mine near Fiji’s international airport at Nadi.” - 1997 Annual Report, Indochina Goldfields (Ivanhoe Mines)
  • 34. HIGHEST GRADE GOLD MINES VSOURCE: MINING.COM ARTICLE “THE WORLD’S HIGHEST GRADE GOLD MINES” VLADIMIR BASOV JULY 16, 2015 MINE COUNTRY OWNER GRADE G/T TONNES OZ .AU Fire Creek Macassa Kedrovka Turquoise Ridge Toguraci Orcopampa Dvoinoye Pinson Midas Tuvatu Pimenton USA Canada Russia USA Indonesia Peru Russia USA USA Fiji Chile Klondex KirklandLake Zapadnaya Barrick Newcrest Buenaventura Kinross Atna Klondex Lion One Cerro Grande 44.1 22.2 22 16.9 16 15.8 15 13.8 12.9 11.3 11.1 170,000 1,330,000 380,000 10,932,000 1,000,000 630,000 2,137,000 353,000 220,000 1,125,000 138,000 172,000 950,000 269,000 5,943,000 514,000 321,000 1,028,000 157,000 92,000 352,000 49,000 Ore reserves are Proven & Probable, except for Kedrovka, where A+B categories calculated Resource Figures (not reserves) for Tuvatu based on production summary in 2015 PEA Technical Report
  • 35. TUVATU PRODUCTION SUMMARY PROJECT PRODUCTION SUMMARY BASIS OF ESTIMATE Total ore mined and process Average head grade Contained gold Recovered gold Average recovery Production mine life Nominal production rate Average annual production 1,125,548 tonnes (dry) 11.30 g/t Au per tonne 408,958 oz. Au 352,931 oz. Au 86.3% 6.16 years 219,000 tonnes per year 182,802 tonnes per year
  • 36. TUVATU BASE CASE ECONOMICS REFER TO SEDAR FILED NI 43-101 PEA TECHNICAL REPORT DATED JULY 14, 2015 BASIS OF ESTIMATE (based on US$1,200 gold price) BASIS OF ESTIMATE Revenue from gold Total cash cost (excluding royalties) Total cash cost (including royalties) All-in costs Capital expenditures (LOM) Initial capital investment $423 million $453 per oz. Au $567 per oz. Au $778 per oz. Au $78.60 million $48.60 million BASIS OF ESTIMATE AFTER-TAX ECONOMICS PRE-TAX ECONOMICS Free cash flow Internal Rate of Return Project NPV 5% Payback period Free cash flow Internal Rate of Return Project NPV 5% $148.73 million 62% $116.99 million 1.5 years $112.54 million 52.3% $86.54 million
  • 37.
  • 38. TOP HIGH GRADE DRILL INTERCEPTS (21-40) 34.90 3.40 54.00 53.00 211.50 418.00 209.76 28.80 37.75 307.10 7.63 162.70 1.10 115.00 437.35 147.45 60.00 123.05 107.85 259.10 35.55 3.8 55 54 212.15 418.5 210.26 29.1 38.35 307.6 7.73 162.95 1.95 115.5 437.8 147.85 61 123.25 108.05 259.5 TUG-013 TUG-008 TURC-174 TURC-174 TUDDH-076 TUDDH-160 TUDDH-228 TUG-005 TUG-001 TUDDH-207 TUG-087 TUDDH-101 TUG-1793 TUDDH-045 TUDDH-176 TUG-077 TURC-137 TUG-081 TUDDH-078 TUDDH-130 TUG560 TUG10 TURC143175 TURC143174 TU14392 TU122500 TU149537 TU142477 TU142022 TU144019 TUG5503 TU15264 TUG1795 TU112548 TU15912 TUG6314 TU136262 TUG5257 TU13226 TU127046 0.65 0.40 1.00 1.00 0.65 0.50 0.50 0.30 0.60 0.50 1.00 0.25 0.85 0.50 0.45 0.40 1.00 0.20 0.20 0.40 Hole ID Sample No. From m To m Length mg/t Au 156 155 155 152 150 141 141 136 133 125 121 119 117 116 116 114 114 112 110 110
  • 39. THANK YOU LION ONE METALS LIMITED 311 WET 1ST STREET NORTH VANCOUVER, BC CANADA TOLL FREE WITHIN NORTH AMERICA: 1 855.805 1250 TEL 604 998 1250 | FAX 604 998 1253 E INFO@LIONONEMETALS.COM WWW.LIONONEMETALLS.COM Stephen Mann, Managing Director (Perth, WA) 604 973 3007 Hamish Greig, Vice President (Vancouver, BC) 604 973 3008 Joe Gray, Investor Relations (Vancouver, BC) 604 973 3004