This corporate presentation by Lion One Metals provides an overview of the company's Tuvatu gold project in Fiji. Key points include: - Lion One has defined gold resources at Tuvatu of 350,300 ounces indicated and 561,000 ounces inferred. Historic exploration includes 87,000 meters of drilling and underground development. - The project benefits from good infrastructure proximity to ports and an international airport. Environmental approval has been received and land access is secured. - Previous feasibility studies conducted between 1997-2000 outlined the potential for an economic underground mining operation. Current work involves advancing permitting and technical studies. - Exploration potential remains as the system is open at depth and along strike with multiple untested

1. Corporate Presentation
September 2014

2. 22
Forward Looking Statements
Certain information contained or incorporated by reference herein, including
any operating performance of Lion One Metals Limited (“Lion One”),
constitutes "forward-looking statements". All statements, other than
statements of historical fact, are forward-looking statements. The words
“projected”, “attributable”, “potential”, “will” and similar expressions
identify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by Lion One are inherently subject to significant
business, economic and competitive uncertainties and contingencies. Known
and unknown factors could cause actual results to differ materially from
those projected in the forward-looking statements. Such factors include, but
are not limited to: fluctuations in the currency markets; fluctuations in the
spot and forward price of gold or certain other commodities; changes in
national and local government legislation, taxation, controls, regulations
and political or economic developments in Canada or other countries in
which Lion One does or may carry on business in the future; business
opportunities that may be presented to, or pursued by, Lion One the ability
to successfully integrate acquisitions; operating or technical difficulties in
connection with, mining or development activities; the speculative nature of
gold exploration and development, including the risks of obtaining necessary
licenses and permits; diminishing quantities or grades of reserves; adverse
changes in the credit rating; and contests over title to properties. In
addition, there are risks and hazards associated with the business of gold
exploration, development and mining, including environmental hazards,
industrial accidents, unusual or unexpected formations, pressures, cave-ins,
flooding and gold bullion losses (and the risk of inadequate insurance, or
inability to obtain insurance, to cover these risks). Many of these
uncertainties and contingencies can affect the actual results and could cause
actual results to differ materially from those expressed or implied in any
forward-looking statements made by, or on behalf of, Lion One . You are
cautioned that forward-looking statements are not guarantees of future
performance.
This presentation uses the terms “inferred resources” and “measured &
indicated resources”. Lion One advises you that these terms are recognized
by Canadian securities regulations (under National Instrument 43-101
“Standards of Disclosure for Mineral Projects”). You are cautioned not to
assume that any part or all of the mineral deposits in these categories will
ever be converted into reserves. In addition, “inferred resources” have a
great amount of uncertainty as to their existence, and economic and legal
feasibility. It cannot be assumed that all or any part of an inferred mineral
resource will ever be upgraded to a higher category. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of feasibility
or pre-feasibility studies, or economic studies except for a preliminary
assessment as defined under NI 43-101. You are cautioned no to assume
that part or all of an inferred resource exists, or is economically or legally
mineable.
The content of this presentation has been reviewed by Mr. Rob McLeod,
P.Geo, a consultant to the Company and a Qualified Person for the purposes
of National Instrument 43-101.
The information contained herein is confidential and does not constitute a
recommendation by Lion One its agents or any vendor party nor does it form
the basis of any contract or offer for the sale of the business of gold
exploration, development and mining. The recipient of the information
contained herein agrees that the information is to be considered confidential
and proprietary to Lion One and shall hold the same in confidence, shall not
use it other than for the purposes of its business with Lion One and shall
disclose it only to its officers, directors, or employees with a specific need to
know. The recipient will not disclose, publish or otherwise reveal any of the
confidential information contained herein to any other party whatsoever
except with the specific prior written authorization of Lion One .

3. 33
Company
Shares Issued: 60,175,608
Options: 4,240,000
Fully Diluted: 64,415,608
Recent Price: $0.40
Market Cap: $24 million
Cash: $7 million
Percentage held by insiders: 33%
Stock Market Listings
Canada TSX-V: LIO
Australia ASX: LLO (CDI’s)
USA OTCQX: LOMLF
EU FSX: LY1

4. 44
Walter Berukoff, Chairman & CEO; Founder
and CEO of Miramar Mining, Northern Orion,
La Mancha Resources; Red Lion Management
Stephen Mann, Managing Director; Geologist,
Former Utah Development Corp., BHP,
Newcrest; Managing Director of AREVA
Australia and Avocet Resources
Samantha Shorter, Chief Financial Officer;
CA, former audit manager at major Canadian
accounting firm specializing in mining industry
Stephanie Martel, VP Admin; Chief Operating
Officer of Red Lion Management and Lion One
Limited Fiji
People
Richard Meli, Director; Former Kennecott,
La Mancha; former SVP of Mergers and
Acquisitions at Rio Tinto
George S. Young, Director; Former
President & Director MAG Silver, Former
Director International Royalty Corp.
Kevin Puil, Director; CFA, Former Portfolio
Manager at Malcolm Gissen & Associates,
and Senior Analyst at the Encompass Fund
Hamish Greig, VP, Director, Corporate
Secretary; 15 years experience in investor
relations, corporate finance and
administration

5. 55
Location
Tuvatu: a low-sulphidation, narrow vein, high grade epithermal gold system in Fiji;
Located along trend from 7 million oz. historic production at Vatukoula;
Situated in one of Fiji’s major volcanic intrusive complexes
Ok Tedi (OTML)
391 Mt @ 0.77 g/t Au
& 0.58% Cu (2009)
Porgera (Barrick)
40.3 Mt @ .08 g/t Au
Wafi Golpu
(Newcrest-Harmony)
590 Mt @ 0.76 g/t Au
Frieda River (Xstrata)
51 Mt @ 0.57 g/t Au
& 2.43% Cu (Nena)
Lihir (Newcrest)
880 Mt @ 2.1 g/t Au
Vatukoula (VGM)
21 Mt @ 6.0 g/t
Hidden Valley
(Harmony-Newcrest)
59 Mt @ 1.5 g/t Au

6. 66
Nadi
10 km
LIO tenements
Infrastructure
Lautoka
Nadi
Tuvatu
- Close to international airport at Nadi
and deep water port at Lautoka
- Close to urban centers and skilled
mining workforce
- Lion One Fiji head office and
industrial compound located 1 km
from airport; less than 20 km to fully
equipped site camp at Tuvatu

7. 77
Geology
Eleven lodes delineated in main Upper
Ridges mineralized zone
- Strike length of NS lodes varies from
150m to over 600m; not drilled past
300m depth
- E-W striking Murau zone consists of
two major lodes with mapped strike
length in excess of 800 m
41 lodes identified, 37 modelled in
2014 resource estimate
Intermediate wavelength gravity field; western Viti Levu
Excerpted from 1998 AusAid Fiji Airborne Geophysical Survey
Tuvatu
Vatukoula
Section view along exploration decline GM contours

8. 88
Resource
Cutoff Indicated Resource (diluted) Inferred Resource (diluted)
g/t tonnes g/t oz. Au tonnes g/t oz. Au
1.0 1,943,000 5.61 350,300 3,022,000 5.8 561,000
2.0 1,435,000 7.07 326,200 2,156,000 7.5 520,000
3.0 1,101,000 8.46 299,500 1,506,000 9.7 468,000
5.0 683,000 11.25 247,000 872,000 13.9 390,000
Excerpt from “Technical Report and Resource Estimate
on the Tuvatu Gold Deposit” Dated June 4, 2014
8
- Minimum widths of 1.2m (ranging up to 9m) for mineralized
structures; average width of 2m in resource model
- Free gold present in both fine and coarse grains amenable to
conventional gravity processing
- Gold also contained in quartz or pyrite composite particles
amenable to extraction by floatation and leaching

9. 99
Tenements
Special Prospecting Licenses
SPL’s 1283, 1296, 1465
21 Year Surface Lease
Mine Licensing Underway
Tuvatu
Lion One Fiji
Intl. Airport

10. 1010
Environmental
- Department of Environment approval for 2013 Tuvatu
Environmental Impact Assessment;
- Over 240 meetings with communities and stakeholders
over 4 years
- Recommendation for mining to commence

11. 111111
Historic Exploration
- Discovered in 1987
- 1997-2000 PFS & FS by
Bateman Engineering for
Emperor Gold Mines
- 87,000 meters drilled
- 1,341m of decline, cross-
cuts, raises
- 600m decline to depth of
240m below surface

12. 1212
Exploration Potential
 Caldera marginal setting
 Alkaline source rocks
 Continuity of known structures
 Large system, open ended
 Numerous untested surface
geochemical anomalies
 Open at depth
 Exploration upside
12

13. 131313
Current Era
Work Completed:
- Check sampling of historic drill core
- Geophysics, geochemical analysis
- Surface mapping, sampling, trenching
- 14,000 meters additional diamond drilling
- Database validation (600,000 sample points)
- Environmental Impact Assessment
- 21-year Surface Lease

14. 1414
In Progress
- Mine Licensing
- Resource Modeling and Mine
Planning
- Preliminary Economic Assessment
- Geotechnical Drilling
- Grade Control Surface Sampling
- Environmental Management Plans for
Operations and Construction
- Processing Flowchart & Plant Design
(Scoping)

15. 1515
Objectives
- Obtain Mining License for Tuvatu
- Model an economic ore body
- Design and build processing
plant
- Initial production target 2016
- Underground development
- Ongoing exploration

16. 1616
• Tuvatu discovered in 1987
• Emperor Gold Mines 1997-2006:
– Completed Feasibility Study on Tuvatu 1997-
2000
– At that time Emperor was 3rd largest gold
producer on ASX, Ivanhoe largest shareholder
with 18% stake
– Emperor also held a 25% interest in Porgera in
PNG, and 100% interest in Vatukoula in Fiji
(operator)
– In 2006 Emperor sold its 25% interest in Porgera
to Barrick for $250m, consolidated debt,
divested Fiji
• 2007: Red Lion Management purchased Emperor’s
assets in Fiji, spun out Tuvatu
• 2009: Vatukoula Gold Mine sold to VGM
• 2011: Tuvatu acquired by Lion One Metals
Project History

17. 1717
Resource Sensitivities
Resource Category Indicated (diluted) Inferred (diluted)
Within 75 m
of Surface
Cut off tonnes grade ounces tonnes grade ounces
0.5 734,000 3.0 72,000 612,000 3.61 71,000
1.0 609,000 3.5 69,000 513,000 4.17 69,000
2.0 384,000 4.7 58,000 328,000 5.66 60,000
3.0 263,000 5.8 49,000 228,000 7.05 52,000
5.0 121,000 8.0 31,000 107,000 10.73 37,000
Below 75 m
of Surface
0.5 1,488,000 6.0 285,000 2,860,000 5.44 501,000
1.0 1,335,000 6.6 282,000 2,509,000 6.10 492,000
2.0 1,051,000 7.9 268,000 1,827,000 7.83 460,000
3.0 839,000 9.3 251,000 1,278,000 10.14 416,000
5.0 562,000 12.0 216,000 766,000 14.34 353,000

18. 1818
Notable Drilling Intercepts
select (uncut) drilling results from Tuvatu 2012-2013 drilling program
Hole ID Interval (m) True Width (m) Grade (g/t Au) From (m depth)
TUDDH 341 2.32 1.49 62.81 148.54
TUDDH 347 3.78 2.51 16.15 121.99
TUDDH 348 7.49 4.97 23.03 155.05
TUDDH 349 7.83 6.57 17.69 130.92
TUDDH 350 2.25 1.70 25.53 78.99
and 3.66 2.76 15.68 142.00
TUDDH 356 3.59 2.44 15.43 89.70
and 3.55 2.41 6.03 74.05
TUDDH 359 3.11 2.50 14.31 130.69
TUDDH 364 6.43 5.52 12.74 202.93
and 3.46 3.00 7.63 213.98
TUDDH 365 13.81 9.93 7.08 155.05
TUDDH 371 14.99 9.95 14.28 185.69
and 1.63 1.09 38.38 203.68
TUDDH 373 7.13 4.39 8.46 99.55

19. 1919
Viti Levu Tenements
SPL 1283 Bebe
SPL 1296 Yavuna
SPL 1465 Nagado

20. 2020
Vanua Levu Tenements
SPL 1467 Vunimoli
SPL 1468 Delaikoro

21. 2121
Olary Creek Iron Project (LIO 47%)
25% interest free carried to bankable feasibility;
- convertible to 2% FOB royalty,
- or 1% FOB royalty with $0.50 per tonne production
royalty;
22% participating interest
JV Partner Henan Yukuang (53%), subsidiary of
Henan Province Mining Bureau, PRC
Pending RTO on Singapore Stock Exchange with CMI -
China Mining International (Y34:SGX)
Henan’s JV interest is one of five target assets in initial
CMI portfolio valued at US$800 million
CMI to be first PRC-backed company listed on SGX;
Shareholder approval obtained for CMI to create a
“mega mining company” with Henan asset pipeline
Lion One Australia
1 Billion tonne magnetite iron target on Braemar Iron Formation in South Australia

22. 2222
Three layers of magnetite mineralization identified over
aggregate strike length of 7.5 km, overburden ranges
from 5m to 80m; two-thirds of target remains undrilled
DTR test results confirm potential to produce magnetite
concentrates grading 68-70% Fe; grades consistent with
saleable magnetite concentrates; low technical risk
Targeting 1 billion tonnes on South Australia’s Braemar
Iron Formation; massive regional infrastructure
investments approved by SA government
Olary Resource Overview
Indicated mineral resources of 214 million tonnes at 26.3% iron
(DTR Results: 57 million tonnes concentrate @ 69.6 % Fe)
Inferred mineral resources of 296 million tonnes at 26.4% iron
(DTR Results: 81 million tonnes concentrate @ 69.8% Fe)

23. 2323
Chairman, & CEO Walter H. Berukoff
Previous companies started, built, and later sold; founder & former CEO of
Northern Orion Resources: acquired for $1.1 Billion by Yamana Gold in 2007
Miramar Mining: acquired for $1.5 Billion by Newmont in 2008
La Mancha Resources: acquired for $499 million by Weather II in 2012
20 mines developed in 7 countries
Track Record

24. Investor Relations Contacts:
Hamish Greig | Joe Gray
311 West 1st Street, North Vancouver, BC, Canada, V7M 1B5
Toll Free within North America: 1.855.805.1250
tel: 604.998.1250 fax: 604.998.1253
e: info@liononemetals.com w: www.liononemetals.com