Lion Copper Corp. · CSE:LCU
Lion Copper — Lion Copper and Gold — Investor Presentation (September 2026)
20 slides from Lion Copper's investor presentation, September 2026
Slide 1: Building a Tier-1 Copper District
Building a Tier-1 Copper District Advancing Our Flagship Project Lion Copper Corp. Presentation | September 2026 CSE: LCU | OTCQB: LCGMD
Slide 2: Forward-Looking Statements
Forward-Looking Statements The information contained in this presentation is provided solely for general knowledge purposes. This presentation is not intended to be a comprehensive review of all matters and development concerning the Company and we assume no responsibility for its completeness, accu
Slide 3: One of North America's Largest Undeveloped Copper Resources
One of North America's Largest Undeveloped Copper Resources District-scale platform Short through long-term value exposure across district spanning generational Partnered DFS & Permitting: Yerington Copper Project Advancing copper potential Maiden MRE for significant Bear Deposit Infrastructure-rich
Slide 4: Yerington Tier-1 Copper District
Yerington Tier-1 Copper District Substantial reserve base with newly established district-scale opportunities District advantages • Infrastructure-rich, mining-friendly district • Early-stage and developing nearby projects present consolidation opportunities • Shared facilities could service multipl
Slide 5: Yerington Copper Project, Nevada USA
Yerington Copper Project, Nevada USA FLAGSHIP ADVANCEMENT ANCHORING SCALABLE GROWTH OPTIONALITY Developing a • Large-scale, brownfields open pit copper reserve with well-understood geology clear path to • Clear development pathway: advancing through technical & Domestic permitting milestones Cathode
Slide 6: Yerington Copper Project
Yerington Copper Project FROM PLANNING TO ACTION PFS Base Case ($4.30/lb Cu) After-tax NPV • 2025 PFS established a credible production blueprint US$694M* • DFS On Track: On schedule and on budget for Q1 2027 completion • Field Programs Complete: All planned hydrogeological, geotechnical, and resour
Slide 7: Flagship Project DFS and Permitting Funded
Flagship Project DFS and Permitting Funded Asymmetric Exposure • Lion CG shareholders not funding the study phase (DFS and Permitting) • Strategic partner funds DFS and permitting (up to ~US$31M)* • Lion CG is Project Operator and subject to final investment decision and JV formation, retains 35% pr
Slide 8: Clear Permitting Path in a Tier 1 Jurisdiction
Clear Permitting Path in a Tier 1 Jurisdiction NEVADA IS 2ND ON THE GLOBAL LEADERBOARD IN THE MINING INVESTMENT ATTRACTIVENESS INDEX* • Brownfield site — Existing disturbance over much of the sites — History of mine operating permit issuance — Known permit requirements and timelines • Baseline data
Slide 9: Advantages Embedded in Project Design
Advantages Embedded in Project Design TO DELIVER ENVIRONMENTAL AND SOCIAL BENEFITS ALONGSIDE STRONG PROJECT ECONOMICS Water Land Energy Communities • Lower water intensity than • Redevelopment of • Heat recovery and • Transparency and conventional concentrator– previously disturbed electricity gener
Slide 10: Project Timeline
Project Timeline MILESTONE-DRIVEN VALUE CREATION* 2025 2026 2027 2028 2029 2030 H2 H1 H2 H1 H2 H1 H2 H1 H2 COMPLETED PFS COMPLETION Milestones NUTON EARN-IN NUTON EARN-IN FUNDING RECEIPT OF $30M FEASIBILITY STUDY CURRENT & ONGOING COMPLETION OF FS FIELDWORK (GEOTECH, PIEZOMETER, LOGGING, ETC) PROJEC
Slide 11: Yerington Copper Project: Significant Leverage to Copper Price
Yerington Copper Project: Significant Leverage to Copper Price CAPABLE OF DELIVERING VALUE ACROSS COMMODITY CYCLES * BASE COMEX CASE SEPT 2026 Copper Price $4.09 $4.30 $4.52 $4.73 $4.95 $5.16 $5.38 $5.59 $5.81 $6.02 $6.24 $6.45 $6.70 NPV Pre-tax (US$ M) $802 $975 $1,148 $1,321 $1,494 $1,667 $1,840 $
Slide 12: Bear Deposit Maiden MRE
Bear Deposit Maiden MRE THE FIRST STEP TO UNLOCK THE LONG-TERM DEVELOPMENT POTENTIAL OF YERINGTON • Contiguous with the Yerington Copper Project, expanding the 6.7B lbs district-scale copper endowment within the Yerington Copper District Contained Cu — Strengthens Yerington as a long-life domestic c
Slide 13: Bear Deposit: Contiguous to the Yerington Copper Project
Bear Deposit: Contiguous to the Yerington Copper Project STRATEGIC CATALYST FOR DISTRICT-SCALE COPPER DEVELOPMENT • Very large porphyry copper deposit on private land covering 4.25 square miles, majority controlled by Lion CG • Lion CG first to consolidate Bear property: combining previous drilling
Slide 14: Leveraged Exposure to Copper's Supercycle
Leveraged Exposure to Copper's Supercycle Yerington is positioned to produce copper in 2030 Just as the global copper supply deficit begins to widen. • Copper demand is in a significant structural surge: PROJECTED SUPPLY* • Continued significant socio-economic shift. • Significant and accelerating l
Slide 15: Share price performance
Share price performance 2025-26: SUSTAINABLE GROWTH AND PROJECT MOMENTUM Share price decoupled from copper price MARCH 2026 LCGMF • Geopolitical instability – market uncertainty DFS Appointments • DFS commencement announcement Mar. 10, 2026 • De-risking and development phase DFS Update Apr. 15, 2026
Slide 16: Pre-production USA Cathode Copper Projects
Pre-production USA Cathode Copper Projects PEER VALUE COMPARISON - COPPER RESERVE AND RESOURCE BASIS – P/NAV RATIOS M&I Excl.² Reserves¹ Reserves Inferred² Share price³ Mkt Cap³ Project / District State (Blb Cu) (Blb Cu) (Blb Cu) Company Stage P/NAV ($US) (US$) Yerington District 0.32 (Yerington PFS
Slide 17: Capital Structure
Capital Structure* Cash on hand Share Ownership Shares Issued: 431,278,822 Options: (including performance options) 81,840,965 Warrants: 119,205,501 35% $23.1 M Fully Diluted: 632,325,288 65% MARKET CAP: Management & Directors OTCQB: LCGMF US$76 M Public Additional Assets CSE: LEO CA$107M • Bear Cop
Slide 18: Lion Copper Team: Management
Lion Copper Team: MANAGEMENT WITH EXPERIENCE & VISION Decades of experience in the industry and a commitment to progress with integrity Doug Stiles, QP - MMSA John Banning, QP – MMSA Todd Bonsall, QP - MMSA Senior Advisor Chief Executive Officer Manager - Geology & Project Operations Experienced exe
Slide 19: Lion Copper Team: Board of Directors
Lion Copper Team: BOARD OF DIRECTORS An experienced team united by cross-industry expertise, fiscal discipline, and a commitment to shareholder value. Tom Patton Rick Scruggs Co-Chairman of the Board Director Mr. Patton is the former President and COO of Western Silver Mr. Scruggs is a seasoned fina
Slide 20: We are building one of America's largest undeveloped copper districts
We are building one of America's largest undeveloped copper districts with the objective of producing refined LME Grade A copper cathode for the domestic U.S. market. Our focus is on disciplined execution—advancing the Definitive Feasibility Study and permitting process to position the Yerington Cop
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