Lion One Metals Ltd Corporate Presentation

1. Q2 2014 Presentation

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
Opportunity
Near-term development potential on a de-risked,
high grade gold project in mining friendly Fiji
Carried interests and royalties on a significant
magnetite deposit in South Australia’s Braemar
Iron Province
Well financed, favorable capital structure with
strong insider ownership (33%)

4. 44
Founder, 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
Leadership

5. 55
Investor Snapshot
Shares Issued: 60,175,608
Options: 2,465,000
Fully Diluted: 62,640,608
Recent Price: $0.40
Market Cap: $24 million
Cash: $10 million
Stock Market Listings
Canada TSX-V: LIO
Australia ASX: LLO (CDI’s)
USA OTCQX: LOMLF
EU FSX: LY1

6. 66
Locations

7. 77
Lion One Fiji established in 2007;
acquired in 2011 RTO
5 exploration licenses across 38,000
hectares on Viti Levu and Vanua
Levu
Head office and industrial yard at
Nadi International Airport; 25 km by
road to Tuvatu worksite
First mover insight, experience, and
local relationships gained since 2007
Lion One Fiji

8. 88
A high grade, near surface gold
deposit in one of Fiji’s major
volcanic intrusive complexes
Significant drilling, underground
development, and engineering by
previous operators 1997-2000
Environment Impact Assessment
approved; Mining License
application filed with Fiji MRD
Tuvatu Gold
Near term production potential

9. 99
SW Pacific Rim island arc
geology; mining at Vatukoula
since 1930’s
Active government support
for mining; progressive
legislation and regulation
Over 70 current exploration
licenses and 5 active mines
About Fiji
PNG
Fiji
Australia

10. 1010
Intermediate wavelength gravity field; western Viti Levu.
Excerpted from 1998 AusAid Fiji Airborne Geophysical Survey
Vatukoula
7 million ounces of gold
Produced since 1930’s
Tuvatu
Gravity Signatures
Viti Levu

11. 1111
Geologic Model
A high grade epithermal gold deposit hosted in veins and stockwork zones situated
at the margins of the 20 km² mineralized Navilawa Volcanic Intrusive Complex
Geological setting of epithermal gold and porphyry
copper-gold deposits (after Colley and Flint, 1995).
SOPAC Technical Bulletin 11
Upper Sabeto Valley & Navilawa Caldera, Fiji

12. 1212
Caldera Geology

13. 131313
Previously
drilled area
• Vein Extensions mapped at surface over 1 km west of resource area
• Mineralization open at 300m depth; deepest point drilled
• Continuity typical of many large epithermal vein systems
Current NI 43-101 Resources
(at 2 g/t Au cutoff):
• 172,000 oz. Au Indicated
(760,000 tonnes at 7.05 g/t)
• 480,000 oz. Au Inferred
(2,502,000 tonnes at 5.78 g/t)
2012 Drill Program – Western Extensions

14. 1414
23.03 g/t Au over 7.49 m
16.15 g/t Au over 3.78 m
15.43 g/t Au over 3.59 m
6.03 g/t Au over 3.55 m
2.76 g/t Au over 1.5 m
2.12 g/t Au over 2.14 m
1.76 g/t Au over 2.12 m
1.74 g/t Au over 1.28 m
14
Drill Intercepts On One Section

15. 1515
 Caldera marginal setting
 Alkaline source rocks
 Bonanza grades
 Continuity of known
structures
 Large system, open ended
 Underground access
 Near surface mineralization
 Open at depth
 Exploration upside
Tuvatu Summary
Section view along adit with GM contours

16. 1616
Drilling Highlights
select (uncut) drilling results from Tuvatu 2012-2013 drilling program

17. 1717
Nadi
Port of Lautoka
10 km
- Favorable location and infrastructure
- Close to Power, Transport, and
Shipping Infrastructure
- Close to urban centers and
experienced workforce
- 25 km from head office to Tuvatu
work site and camp
Lion One tenements
Infrastructure
Port of Lautoka
Nadi
Intl. Airport
Tuvatu
Lion One Fiji

18. 1818
Potential
Significant previous discovery, drilling,
and development; exploration upside
Metallurgy demonstrates amenability
to conventional gravity and flotation
processing;
EIA approved, Mining Lease
application filed; active Government
support
Department of Environment
recommends mining commence

19. 1919
Next Steps
- Confirm Extensions to Resource Model
- Secure Surface Lease and Mining License
- Guidance on preliminary capital and operating cost
models and development options
For more information refer to the “Technical Report and Resource Estimate on the Tuvatu Gold Property, Viti Levu,
Fiji” dated October 1, 2010 (Current indicated mineral resource of 172,000 oz. Au (760,000 tonnes at 7.05 g/t Au)
and inferred mineral resource of 480,000 oz. Au (2,618,000 tonnes at 5.71 g/t Au). Mineral resources have no
demonstrated economic viability and no reserves have yet been established on the Project.

20. 2020
Lion One Australia created through the
acquisition of Avocet Resources Limited
in 2013, based in Perth, WA;
Iron ore joint venture with PRC state-
owned iron & steel industry giant Henan
Yukuang
Targeting large-scale, bulk mineable open
pit iron deposit at Olary Creek, South
Australia
Located 40 km from interstate highway
and railway lines
Lion One Australia

21. 2121
Braemar Iron Province, SA
• Braemar Iron Formation; a
200 km magnetite belt close
to existing infrastructure
• SA has proposed 5 new deep
sea ports and a proposed
update of an existing port
• Braemar Infrastructure; a
proposed $5B multi-user
infrastructure corridor and
offshore shipping facility;
Braemar Iron Province

22. 2222
Olary Iron JV
Lion One (47%)
Yukuang Australia (53%)
Lion One’s 47% interest comprises:
- 25% free carried interest to
completion of bankable feasibility
study and decision to mine;
- 22% optional participating interest;
Conversion options upon mining include:
- conversion to 2% FOB royalty, or
- 1% FOB royalty with $0.50 per
tonne production royalty
The technical report “Olary Iron Project Mineral Resource Estimate, South Australia”
prepared by SRK Consulting Australasia for Yukuang Australia is to be filed on SEDAR

23. 2323
Yukuang Australia
• Has spent $5M to earn 53% interest in Olary Iron Project
• Subsidiary of Henan Yukuang, an affiliated enterprise of the Geo-
exploration and Mineral Development Bureau of Henan
Province, China (1957)
• Global exploration, mining, processing, and trading operations;
4,700 qualified technical personnel;
• Yukuang’s Olary Iron JV interest is part of a portfolio of assets
under consideration for a listing on the Singapore Stock
Exchange through China Mining International (Y34:SGX)

24. 2424
Three layers of magnetite mineralization
identified over aggregate strike length of
7.5 km
Initial resource estimate based on 16,000
meters of drilling; two-thirds of target
remains undrilled
Depth of overburden varies from 5m to
80m below surface
DTR test results confirm potential to
produce magnetite concentrates grading
68-70% Fe; grades consistent with saleable
magnetite concentrates; low technical risk
Resource Overview

25. 2525
Resource Estimate
Indicated mineral resources of 214 million tonnes at 26.3% iron
Inferred mineral resources of 296 million tonnes at 26.4% iron
Olary Iron Project Resource Estimate Summary
Category Tonnage Fe % SIO2% Al2O3% LOI% S% P% DTR% Density
Indicated 214,000,000 26.3 40.8 6.9 3.9 0.029 0.24 26.4 3.12
Inferred 296,000,000 26.4 41.3 6.9 3.7 0.027 0.25 27.3 3.10
Category Concentrate
Tonnage
DTR Concentrate Grades
Fe % SIO2% Al2O3% LOI% S% P%
Indicated 57,000,000 69.6 2.9 0.3 -3.1 0.008 0.01
Inferred 81,000,000 69.8 2.6 0.2 -3.1 0.009 0.008
Table 1: Summary of Olary Iron Project Resource Estimate using cutoff grade of 20% Fe
Table 2: Davis Tube Recovery (DTR) test results and Fe content for the magnetic concentrate
for composite RC and Diamond drillhole samples at grind size of 38 microns and 10% DTR cut-off grade
Approximately 90% of the mineralised domains are above reporting cut‐off of >20% Total Fe and >10% DTR; The average
mass recovery above cut‐off of 27% is within the range of the resource mass recoveries for similar Australian magnetite
projects with existing feasibility studies (Grasslands Jack Hills Expansion Project [25% mass recovery] (Murchison 2011);
Grange Resources Southdown project [34% mass recovery] (Grange 2012).

26. 2626
• Horizontal thickness of
mineralised domains varies
between 200m and 350m including
internal waste.
• Folded geometry of mineralised
domains favourable to minimising
stripping ratio compared to a linear
sub vertical deposit.
• Strike and dip extents are not
closed; potential for extensions of
the mineralisation.
Resource Overview, cont.…
Cross section

27. 2727
Cross Section

28. 2828
DTR Results
Assays and Davis Tube Recoveries (DTR) from 2010 drill holes

29. 2929
Grinding Tests
Grinding tests on Olary magnetite mineralization demonstrate that the
38 micron grind size produces the most acceptable concentrate grade of 64.83% Fe.

30. 3030
Olary Neighbours
• Minotaur/Sumitomo
(Mutooroo property)
• Lodestone Equities
(Olary Property)
• Royal/Lodestone
(Razorback property)
• Carpentaria
(Hawsons property)
• PepinNini/Sinosteel
(Mt. Victor property)
Lion One
Olary Iron JV
Anabama
(Adelaide Resources)
Olary
(Lodestone)
Mutooroo
(MEP/Sumitomo)

31. 3131
China Mining International
- PRC state-owned China Geological Exploration plans to list mining assets on SGX
Mainboard via a RTO of China Mining International (SGX trading symbol Y34);
- Subsequent to the RTO, China Mining International will be the first PRC
government-backed mining company listed on SGX
- China Geological Exploration has access to a strong pipeline of mining assets from
the Geo-exploration and Mineral Development Bureau of the Henan Province for
injection into China Mining International; Yukuang’s Olary Iron Project JV interest
is to be included in the portfolio;
Mr. Li Bin , CEO of China Mining, said, “We are heartened by the support of the Henan
Bureau to completely transform China Mining into a pure mining company. Subsequent
to the RTO, China Mining aims to be a mega mining company with strong expertise.
Our main focus will be to develop our existing mines to realise their full commercial
potential, with secondary emphasis on carrying out downstream processing and
trading activities and thereafter advanced exploration. With the strong parentage,
coupled with the Bureau’s mining expertise and portfolio, we see significant growth
opportunities fuelled by the insatiable demand for mineral resources in the PRC.”
http://www.chinamining-international.com/newsroom.html

32. 3232
Positive Outlook

33. 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