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Lion One Provides Clarification on Mining Methods at the Tuvatu Gold Mine
Lion One Has Not Abandoned Shrinkage Stoping - Multiple Mining Methods Will Be Used as Dictated b...
About this update from Lion One Metals Limited
[{"type":"text","content":"Lion One Provides Clarification on Mining Methods at the Tuvatu Gold MineLion One Has Not Abandoned Shrinkage Stoping - Multiple Mining Methods Will Be Used as Dictated by Deposit CharacteristicsNorth Vancouver, British Columbia--(Newsfile Corp. - March 25, 2026) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (\"Lion One\" or the \"Company\") wishes to address recent commentary regarding mining methods at its 100%-owned Tuvatu Alkaline Gold Project in Fiji (\"Tuvatu\"). The Company is aware that certain claims have been made suggesting that Lion One has abandoned shrinkage stoping in favour of an alternative mining method. These claims are inaccurate.Lion One has not moved away from shrinkage stoping. The Company's first shrinkage stope was completed successfully in 2025 producing 5,704 tonnes at an average gold grade of 10.60 g/t.¹ A second shrinkage stope projected to be twice the size of the first was subsequently developed in Zone 5 with a third shrinkage stope under development at the 1120 level.² Shrinkage stoping remains a core part of the Company's mining plan.5,70410.60 g/t70%$15MTonnes from First Shrinkage StopeAverage Gold Grade AchievedIncrease in Development RatesArete Capital Strategic Investment THE FACTS: SHRINKAGE STOPING AT TUVATUFar from abandoning shrinkage stoping Lion One has actively developed and refined this technique throughout 2025 and into 2026. The publicly disclosed record is clear:First Shrinkage Stope Completed Successfully (Q3 2025): The Company's first shrinkage stope located near surface in Zone 2 targeted a section of the Ura1 lode approximately 62 m long, 24 m tall and 1.5 m wide. It produced 5,704 tonnes at 10.60 g/t gold.¹\"The success of the Company's first shrinkage stope is a major achievement and milestone for the Company and confirms shrinkage mining as an optimal mining method for certain parts of the Tuvatu gold deposit. We anticipate utilising other mining methods for other parts of the deposit.\"- Lion One Metals, News Release, October 2, 2025Second Shrinkage Stope Developed (Q4 2025): A second significantly larger shrinkage stope was developed in Zone 5 focused on the UR2 lode. This stope was projected at approximately 60 m long, 50 m tall and 1.5 m wide with expected production of 11,520 tonnes - roughly double the first.¹Third Shrinkage Stope ...