Lion One Metals Corporate Presentation June 2017

1. LION ONE METALS
TUVATU PROJECT
JUNE 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 conjunction with all other disclosure 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 herein
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 Stephen Mann, P.Geo ., Managing Director
of the Company and a Qualified Person as defined by
National Instrument “NI” 43-101 Standards of Disclosure for
Mineral Projects .

3. LION ONE CHECKLIST
 Fully Permitted for Startup
 High Grade Underground Gold
 Proven Mine Builders
 Mining Friendly Government
 Near Term Production Potential
 Exploration Upside

4. TUVATU GOLD PROJECT, FIJI
High grade underground gold with near term
production potential and exploration upside
Asset Overview – 100% owned, fully permitted for
startup of mining and processing operations
Development Underway – Mine engineering and
underground development is progressing alongside
detailed engineering for processing plant and site
infrastructure
Confirming Upside – Drilling programs mobilized at
surface and underground; upside confirmed with 8.46 m
@ 71.41 g/t Au from recent drilling

6. LEADERSHIP
Walter H. Berukoff, Founder, Chairman & CEO
Canadian entrepreneur, merchant banker, and real estate developer
Has owned and operated over 20 gold mines in 7 countries. Founder and
former CEO of Miramar, Northern Orion, La Mancha Resources
Stephen Mann, Geologist, Managing Director
Past: BHP, Newcrest, Managing Director AREVA, Avocet Resources
(U3o8) Discoveries include Frog’s Leg & White Foil Gold Deposits in
Australia
Ian Chang, M.A.SC, P.ENG, Chief Development Officer
VP Project Development for Pretium’s Brucejack gold project 2011-2016
Experienced executive and engineer; has managed and commissioned
numerous mining projects through feasibility to operations

8. CAPITAL STRUCTURE
Common Shares:
Warrants:
Options:
Fully Diluted:
101,722,044
41,536,436
6,525,000
149,783,480
Recent Price:
Current Market Cap:
Working Capital:
C$0.80
C$80 million
C$30 million
PREVIOUS FINANCINGS
2016: C$38.6 million @ C$0.92
2011: C$14.6 million @ C$1.55
2011: C$11.5 million @ C$1.00
TSX-V: LIO
OTCQX: LOMLF
MAJOR INSTITUTIONAL SHAREHOLDERS
Donald Smith & Co. (14%)
Franklin Precious Metals Fund (9.99%)
JP Morgan Asset Management UK (6%)
MacKenzie (3%)

9. TUVATU GOLD PROJECT, FIJI
Here’s what’s been modeled to date
The current resource model supports a 7 year mine life
High grade gold production includes:
• 262,000 oz. Au @ 15.30 g/t through year 3
• 352,000 oz. Au @ 11.30 g/t through year 7
Total capex of US$48.6 million
Cash flow of US$112 million over 7 years
After-tax IRR of 52% @ US$1,200 Gold price
18 month construction schedule; 18 month payback on capital

10. TUVATU MINE MODEL
Mining model factors a 5.0 g/t Au grade cutoff
With average mining widths of 2.2 meters
Tuvatu Decline

11. RECENT DRILLING RESULTS
TUDDH 419
13.52 g/t Au over 9.07 m from 32.90 to 41.90m
19.65 g/t Au over 1.44 m from 71.36 to 72.80m
14.25 g/t Au over 2.12 m from 83.66 to 85.78m
TUDDH 409
12.54 g/t Au over 3.92 m
(35m ext. of URW1)
TUDDH 407
12.32 g/t Au over 4.05 m
TUDDH 408
13.95 g/t Au over 2.55m
TUDDH 406
71.41 g/t Au over 8.41 m
Inc. 126 g/t Au over 4.5m
From 96.10 to 104.51m
36.20 g/t Au over 0.72m

12. High Grade Highlights
10-20 g/t Au 20-40 g/t Au 40-100 g/t Au >100 g/t Au
Sample
width m
g/t Au Sample
width m
g/t Au Sample
width m
g/t Au Sample
width m
g/t Au
2.70 16.23 2.10 33.10 2.40 74.89 3.60 109.19
1.80 17.31 2.52 33.16 3.30 79.47 3.10 116.32
3.45 17.48 3.50 33.21 3.40 79.37 2.95 118.41
2.50 18.06 3.00 35.50 3.00 83.85 2.50 122.65
1.90 18.18 2.70 35.68 3.45 84.83 2.80 203.59
3.25 19.09 3.00 36.04 2.95 92.48 2.35 290.60
SKL Zone: Select Historic Underground Channel Samples
SKL Lodes
HIGH GRADE HIGHLIGHTS
SKL Lodes

13. TUVATU GOLD PROJECT, FIJI
Next steps
Completion of detailed engineering for processing
plant and site infrastructure
Completion of EPC Contract for Engineering,
Procurement, Construction, and Project Financing
Commencement of mining and stockpiling Q4 2017
Ongoing drilling from surface and underground;
focusing on extensional targets of resource;
regional exploration inside mining lease

14. SOUTH PACIFIC RING OF FIRE
Lihir, Porgera, Vatukoula:
Giant Volcanogenic Gold Systems
Fiji Islands
Vatukoula
Lihir
Porgera
Lihir, PNG (Newcrest)
790 Mt @ 2.3 g/t Au
10m oz. Au since 1997
Porgera, PNG (Barrick)
55 Mt @ 3.47 g/t Au
20m oz. Au since 1990
Vatukoula, Fiji (VGM)
21 Mt @ 6 g/t Au
7m oz. Au since 1933
PNG
AUSTRALIA

15. VOLCANIC GOLD DEPOSITS IN FIJI
Tuvatu
Vatukoula:
7 million oz. Au
Historic Production
Area under Application
Area under License
Gravity Signatures

17. Lion One Tenements
Exploration License
Mining Lease
Under Application
+1.00 g/t Au
0-0.99 g/t Au
Historic Geochemical
Surface Data
REGIONAL GEOLOGY
Navilawa Caldera
Tuvatu: Low sulphidation epithermal gold associated with the Navilawa Intrusive Complex
Tuvatu

18. Current Price: C$0.80
Current Market Cap: C$80M
Cash: C$30M
VALUATION UPSIDE
5 Year Comex USD Gold Price
For every US$100/oz. gold price increase, IRR grows by 10% and NPV by US$20 million
TSX-V: LIO | OTCQX: LOMLF

19. 19
Recap
FULLY PERMITTED, NEAR-TERM PRODUCTION
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
ROBUST ECONOMICS @ $1,200 GOLD
Initial mine plan delivers post tax 52% IRR, US$112M cash flow over 7 years
GRADE IS KING
Initial mine plan production 352,000 oz. at 11.3 g/t Gold
TIMING IS EVERYTHING
LIO is trading near it’s 52-week low ($1.17 - $0.55)
Your interests aligned with management and institutions
RECAP