Lion One Pours First Gold at Tuvatu Mine in Fiji
Lion One Pours First Gold at Tuvatu Mine in
Fiji
North Vancouver, British Columbia--(Newsfile Corp. - October 10, 2023) -
Lion One Metals Limited
(TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO)
("Lion One" or the "Company")
is pleased to announce
that the company has poured first gold at its 100% owned Tuvatu Alkaline Gold Project in Fiji.
Construction of the Tuvatu Mine has been completed ahead of schedule. Mill construction began in
August 2022 and commissioning began in September 2023. The mill is expected to ramp up to 300
TPD by the end of October 2023, expanding further to 500 TPD in mid-2024. The first gold pour
coincided with Fiji Day on October 10
th
, 2023. A ceremonial first gold pour was conducted on site with
over 900 members of local communities, businesses, employees, and government officials in
attendance, including the Honourable Maciu Nalusima, Acting Minister for Mineral Resources for Fiji,
who officiated the gold pour ceremony on behalf of Prime Minister Sitiveni Rabuka of Fiji.
Figure 1. Lion One Metal's First Gold Pour at the Tuvatu Mine in Fiji.
On the right of the photo are
Lion One Metals' Process Operations Manager David Towle, Lion One Metals Chairman and CEO
Wally Berukoff, and the Honourable Maciu Nalusima, Acting Minister for Mineral Resources for Fiji.
To view an enhanced version of this graphic, please visit:
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Lion One Chairman and CEO, Walter Berukoff, commented: "The first gold pour at Tuvatu is a landmark
event in the history of our company. We have successfully transitioned from explorer to producer and
have delivered on our promise to build the South Pacific's newest gold mine in the heart of Fiji.
"Congratulations to the Lion One team for achieving this significant milestone. We thank our employees,
contractors, local landowners and community members for their hard work and dedication. Completing
construction ahead of schedule is a testament to the strength of their efforts and to the resilience of the
Fijian spirit. We also thank our loyal shareholders for their continued support. This marks the beginning
of our next phase of growth as we look forward to ramping up to commercial production at Tuvatu and to
advancing our many other top-quality prospects throughout the Navilawa Caldera."
The Honourable Maciu Nalusima, Acting Minister for Mineral Resources for Fiji, stated that "the future
looks good for Tuvatu; the best is yet to come."
Figure 2. Photos from the Gold Pour Ceremony.
Top left: Lion One Metals CEO Wally Berukoff and
the Honourable Maciu Nalusima receiving traditional flower garlands. Top middle: Lion One Metals COO
Patrick Hickey giving a speech. Top right: Lion One Metals employees below the Fiji flag. Bottom left
and middle: members of local communities and businesses in attendance at the gold pour ceremony.
Bottom right: Lion One Metals CEO Wally Berukoff and the Honourable Maciu Nalusima on site at
Tuvatu.
To view an enhanced version of this graphic, please visit:
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Additional photos and videos of the gold pour ceremony will be available on the Lion One Metals
website at
www.liononemetals.com
.
About Lion One Metals Limited
Lion One's flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project,
located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold
mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the
entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system.
Lion One's CEO Walter Berukoff leads an experienced team of explorers and mine builders and has
owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines,
Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for
shareholders.
On behalf of the Board of Directors of
Lion One Metals Limited
"
Walter Berukoff
", Chairman and CEO
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email:
Website:
www.liononemetals.com
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for the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be "forward-looking statements"
within the meaning of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein are forward-looking information. Generally, forward-
looking information may be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates",
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and phrases, or by the use of words or phrases which state that certain actions, events or results may,
could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals
Limited's current beliefs and is based on information currently available to Lion One Metals Limited
and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include,
but are not limited to, the actual results of exploration projects being equivalent to or better than
estimated results in technical reports, assessment reports, and other geological reports or prior
exploration results. Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity, performance or achievements of
Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied
by such forward-looking information. Such risks and other factors may include, but are not limited to:
the stage development of Lion One Metals Limited, general business, economic, competitive,
political and social uncertainties; the actual results of current research and development or
operational activities; competition; uncertainty as to patent applications and intellectual property
rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals;
changes in legislation, including environmental legislation, affecting mining, timing and availability of
external financing on acceptable terms; not realizing on the potential benefits of technology;
conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals.
Although Lion One Metals Limited has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should
not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake
to update any forward-looking information, except in accordance with applicable securities laws.
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