Lion One (LIO.V): Encounters Deep and Shallow High Grade Gold Mineralization at Tuvatu

North Vancouver, British Columbia–(Newsfile Corp. – January 18, 2021) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce high-grade gold results from two recently completed drill holes, one deep and one shallow, at its 100% controlled Tuvatu alkaline gold project, Fiji.

Highlights:

• Hole TUDDH514, a north-oriented diamond drill hole completed to a depth of 1,014.8m, tested an area approximately 100m vertically underneath and approximately 7m along strike from a deep high-grade lode (12.7m grading 55.43 g/t Au in hole TUDDH500) encountered by Lion One late in 2020 (please see a Company news release dated November 4, 2020 for more details). Two high-grade lodes were intersected in TUDDH514, 2.24m grading 13.31 g/t Au beginning at 495.60m including 0.35m grading 64.40 g/t Au and 3.47m grading 20.71 g/t Au beginning at 706.94m including an exceptionally high-grade subinterval of 0.23m grading 294.50 g/t Au. Interestingly, this hole also encountered a narrow intercept of 0.35m grading 10.52 g/t Au at a depth of 983.15m, the deepest mineralized intercept ever encountered at Tuvatu. A summary of significant Au intercepts from hole TUDDH514 is summarized below:

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