Announcement • Oct 29

Lion Copper and Gold Corp. Releases Assay Results from Its 2023 Exploration Program in the Yerington District of Nevada

Lion Copper and Gold Corp. released assay results from its 2023 exploration program in the Yerington District of Nevada. This exploration program was funded by a USD 2,500,000 early advance of Stage 3 funding under the Company's agreement with Nuton LLC, a Rio Tinto venture. Five targets were drilled with the most compelling results produced at the Bear deposit, a large and partially-defined zone of porphyry copper mineralization, located almost entirely on private lands and concealed beneath a thick fault slice of younger Tertiary ignimbrites and alluvial cover. The Bear deposit was previously jointly held by Anaconda Copper Mining Company (‘Anaconda’), one of the largest copper mining companies of the 20th century, and Phelps Dodge Corporation (‘Phelps Dodge’, now Freeport-McMoRan), with Lion CG having subsequently consolidated the Bear deposit by way of multiple private landowner lease and purchase option agreements. Bear Deposit 2023 Drilling Highlights: Diamond core drill hole B-053A encountered 926 ft of 0.31% TCu, including 233 ft of 0.47% TCu, collared 925 ft northwest of legacy Anaconda drill hole B-014; Diamond core drill hole B-054 encountered 1,048 ft of 0.26% TCu, including 131 ft of 0.50% TCu, collared 925 ft northwest from B-053A. These deep angle drill holes were located along a northwest projection of promoted copper grades defined by legacy Anaconda drilling and a coincident magnetic low and strong Induced Polarization (IP) anomaly, both of which are recognized trends in the Yerington District. Information gained from this recent drilling not only expands the size of the Bear deposit but also highlights additional targets which remain untested. Background of the Bear Deposit: The Bear deposit is a large porphyry copper exploration target situated on private lands and located approximately three miles north of Anaconda's former Yerington open pit mine, in Lyon County, Nevada. The deposit was first identified by Anaconda in 1961. From 1961 to 1967, Anaconda drilled 38 drill holes totaling 101,827 ft in order to better define the deposit. From 1969 to 1973 Phelps Dodge acquired the eastern part of the property and drilled an additional 12 holes, totaling 34,008 ft, which further expanded the deposit to the east. In 1980, Anaconda developed a non-compliant NI 43-101 resource estimate of 735 Mt of 0.44% TCu that only covered a small portion of the footprint of the deposit. The footprint of the deposit covers more than three-square miles and extends 2.5 miles (4 km) in length in a northwest-southeast direction and 1.7 miles (2.7 km) in length in the northeast-southwest direction. Lion CG, through its wholly owned subsidiary Singatse Peak Services, LLC (SPS), has consolidated the property through private land lease/purchase option agreements and controls a land position of approximately 2,330 acres. In a program funded by Freeport Nevada LLC (‘Freeport’) in 2015 and 2016, the Company drilled six deep holes totaling 20,275 ft, which demonstrated an extension of the deposit to the north-northeast. Drilling by Anaconda, Phelps Dodge and Lion CG all intersected thick zones of copper mineralization ranging from 490 ft to 2,843 ft thick. No oxide mineralization or supergene enrichment has thus far been identified at the Bear deposit. The zones of primary sulfide mineralization remain open in several directions where the limits of mineralization are not closed off by drilling. Given the very large footprint of the known mineralization, the deposit remains highly attractive for further exploration with core holes currently spaced at 500-to-1,000-foot intervals. Bear Deposit 2023 Drilling Results: Two angled diamond core drill holes, B-053A and B-054 were collared and drilled to depths of 3,503 ft and 3,458 ft, respectively, northwest along the mineralization trend previously identified by Anaconda legacy drill holes B- 013 and B-014. Legacy drill holes B-013 and B-014 intersected large zones of sulfide mineralization, including intervals with grades greater than 1.0% TCu. Higher copper grades intersected in legacy drill holes occur within a felsic endoskarn host rock, a magnetite-chalcopyrite rich rock associated with occurrences of massive chlorite and actinolite which are related to the contact of the older host rocks of granodiorite and younger quartz monzonite. The extension of the endoskarn zone and mineral assemblage was intercepted in B-053A and B-054 along a northwesterly projection. Though the total copper grades are less than those reported in legacy holes, it is not unexpected to have strongly variable copper grades within the endoskarn zones due to the irregular distribution of copper typically found in this type of geologic environment. The intercepts in B-053A and B-054 have expanded the Bear deposit 1,850 ft in the northwesterly direction as represented by a +200 ft grade times thickness zone. This same zone is seen in drill hole B-015, located 1,900 ft west-northwest, containing 125 ft of 0.44% TCu, including 44 ft of 0.76% TCu. Legacy drill holes B-007, B-009A, B-011, and B-012, on a north-south drill line at the western edge of the known deposit, were too shallow to test for the western extent of the Bear deposit. Deeper step-out drilling west-northwest of these legacy drill holes are expected to further expand the deposit footprint. B-053A and B-054 are the only angled drill holes ever drilled in the deposit and have therefore now better defined the structural orientation of the mineralized zones. The quartz monzonite porphyry dikes and associated mineralization strike roughly east-west to northwest-southeast with a 45° northerly dip as shown in the cross-section. Mineralization at the Bear deposit appears to include a first pulse that occurred with the intrusion of quartz monzonite into the granodiorite and is characterized as a skarn along the contact. A second pulse of mineralization appears to have occurred, where quartz monzonite porphyry dikes intrude into the quartz monzonite and mineralized veinlets are strongly seen in and along the margins of the porphyry dikes. In general, porphyry copper deposits have a high pyrite shell, with lesser chalcopyrite mineralization surrounding a zone with higher copper grades. Drill holes B-053A and B-054 contain sulphide mineralization percentages consistently average greater than 3%, and in some cases up to 35%. These are some of the highest percentages of sulphide mineralization ever observed in any of the drilling completed at Bear. The high sulphide mineralization percentages in B-053A and B-054 may be indicative of a high pyrite shell and proximity of a higher-grade copper mineralized zone.

CEO salary percentage	44.51%
CEO tenure	1.3yrs
CEO ownership	0.1%
Management average tenure	1.3yrs
Board average tenure	5.1yrs

Date	Total Compensation	Salary	Company Earnings
Mar 31 2026	n/a	n/a	US$10m
Dec 31 2025	US$562k	US$250k	US$15m
Sep 30 2025	n/a	n/a	-US$7m
Jun 30 2025	n/a	n/a	-US$4m
Mar 31 2025	n/a	n/a	-US$3m
Dec 31 2024	US$322k	US$116k	-US$4m

Name	Position	Tenure	Compensation	Ownership
Thomas Patton	Founder & Independent Co-Chairman of the Board	27.7yrs	US$190.60k	2.41% $ 2.1m
John Banning	Chief Executive Officer	1.3yrs	US$561.69k	0.13% $ 118.2k
Douglas Stiles	Vice President of Sustainability & Environment	2yrs	US$259.08k	no data
Maria Paredes	CFO & Corporate Secretary	less than a year	no data	no data

Name	Position	Tenure	Compensation	Ownership
Thomas Patton	Founder & Independent Co-Chairman of the Board	27.7yrs	US$190.60k	2.41% $ 2.1m
Tony Alford	Director	4.8yrs	US$1.31m	19.83% $ 17.4m
Charles Naugle	Co-Chairman of the Board	5.1yrs	US$495.11k	0.52% $ 455.6k

Data	Last Updated (UTC time)
Company Analysis	2026/07/06 06:56
End of Day Share Price	2026/07/06 00:00
Earnings	2026/03/31
Annual Earnings	2025/12/31

Lion Copper and Gold Management

Management criteria checks 3/4

Key information

Recent management updates

Lion Copper & Gold Corp. Announces CFO Changes

Lion Copper & Gold Corp. Announces Executive Changes

Lion Copper and Gold Corp., Annual General Meeting, Jul 30, 2026

Lion Copper and Gold Corp., Annual General Meeting, Jul 25, 2025

Steven Dischler Transition to A Newly Created Role as Director of Community Relations of Lion Copper and Gold Corp

Lion Copper and Gold Corp. Appoints John Banning as Chief Operating Officer

Recent updates

Lion Copper & Gold Corp. Announces CFO Changes

Lion Copper & Gold Corp. Announces Executive Changes

Lion Copper and Gold Corp., Annual General Meeting, Jul 30, 2026

Lion Copper and Gold Corp. announced that it expects to receive $2.5 million in funding

Lion Copper and Gold Corp., Annual General Meeting, Jul 25, 2025

Steven Dischler Transition to A Newly Created Role as Director of Community Relations of Lion Copper and Gold Corp

Lion Copper and Gold Corp. Releases Assay Results from its 2024 Exploration Drilling Program at the Yerington and MacArthur Properties

Lion Copper and Gold Corp. announced delayed 10-Q filing

Lion Copper and Gold Corp. Appoints John Banning as Chief Operating Officer

Lion Copper and Gold Corp. Announces Corporate Secretary Changes

Lion Copper and Gold Corp. announced that it expects to receive $1 million in funding

Lion Copper and Gold Corp. Announces Positive Results of Preliminary Economic Assessment on its Yerington Copper Project Located in Lyon County, Nevada

Lion Copper and Gold Corp. Releases Assay Results from Its 2023 Exploration Program in the Yerington District of Nevada

Lion Copper and Gold Corp. Completes the Stage 1 Program

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