Lion One Acquires New LM90 Drill to Target Zone 500 and West Zone from Underground

About this update from Lion One Metals Limited

North Vancouver, British Columbia--(Newsfile Corp. - July 27, 2026) - Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) ("Lion One" or the "Company") is pleased to announce the purchase of a new Boart Longyear LM90 underground core drill for the Company's 100% owned Tuvatu alkaline gold mine in Fiji. The goal of the Company is to significantly expand production at Tuvatu and the LM90 drill has been purchased as part of a renewed strategy to achieve this goal. The drill enhances the Company's underground drilling capabilities by enabling deep drill holes and inclined drillholes to be drilled from stations deep underground. The primary intent of the drill is to target both the Zone 500 and the West Zone at depth to expand and upgrade the resource in these areas and to ultimately increase production at depth at Tuvatu. Highlights of the LM90 Drill Purchase and Strategy: The Boart Longyear LM90 is a high-performance underground drill rig that is specifically designed for use in underground mines. It can drill up to a maximum depth of 990 m, can drill all dip angles from vertically up (+90) to vertically down (-90), and can accommodate a full range of rod sizes from AQ to NQ. Lion One has ordered one new LM90 for delivery by mid-October 2026. The LM90 will provide increased flexibility and versatility to the Company's underground drilling operations at Tuvatu. The drill's broad operational capability will enable the Company to drill both inclined drillholes and deep drillholes from underground. A dedicated underground drill station for the LM90 is now in development to maximize the capability and benefit of the drill. The drill station will be located at the end of an 80 m drive off level 1051 of the mine to the south of Zone 2. From that location, the drill will be able to effectively target high-grade mineralization in Zone 500, in the West Zone, and at an incline into Zone 5, as well as along strike of these zones. This is a significant development for Lion One as the Company will now be able to drill both the Zone 500 and the West Zone from depth underground for the first time. All previous drillholes targeting these zones have been conducted from drill positions at or near surface. Drilling from underground will enable shorter, quicker, and cheaper drillholes into Zone 500 and the West Zone, with better angles of intercept into the high-grade steeply dip...

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