Lion One Reports Preliminary Gold Results, Announces C$16.3M in Quarterly Revenue
Lion One Reports Preliminary Gold Results,
Announces C$16.3M in Quarterly Revenue
North Vancouver, British Columbia--(Newsfile Corp. - July 21, 2025) -
Lion One Metals Limited
(TSXV:
LIO) (OTCQX: LOMLF)
("Lion One" or the "Company
") is pleased to provide an operations update
and to report preliminary quarterly gold production from the Tuvatu Gold Mine in Fiji for the quarter
ending June 30
th
, 2025.
Highlights of Operations:
Record mill utilization of 96%
Record mill throughput of 33,726 tonnes
Record capital development of 489 m
Record operating development of 1,014 m
Shrink stope development complete, production beginning
Sustained increase in gold recoveries
Preliminary Quarterly Production Results
:
3,577 oz of gold sold
3,214 oz of gold recovered
81.6% recovery
3.6 g/t gold average head grade
Total revenue of C$16,300,821
Lion One Metals sold approximately 3,577 oz of gold and 1,233 oz of silver during the three-month
period ending June 30
th
, 2025. The average sale price for the quarter was C$4,541 per ounce of gold
sold. Total revenue for the quarter was C$16,300,821, which represents a 24% increase in revenue
compared to the previous quarter (C$13,173,024), and a 77% increase in revenue compared to the
same quarter last year (C$9,187,046). Gold revenue for the quarter was enhanced by higher gold prices,
increased recoveries, and higher mill throughput, as well as the sale of additional gold recovered from
the gold in circuit. Average head grade for the quarter was low due to the delayed completion of the mine
ventilation project, which caused a delay in mine development in lower levels of the mine. This limited the
Company's flexibility and opportunity to mine high grade material during the quarter as mine
development recovered from the delay.
Mill performance for the quarter was very strong, achieving record quarterly mill utilization of 96%. This
resulted in a record 33,726 tonnes of mineralized material being processed through the mill, for an
average throughput of approximately 371 tonnes per day for the quarter. With minimal down time for
maintenance and repairs, the processing team was able to focus on debottlenecking efforts and
improved carbon management, which in turn resulted in a sustained increase in gold recoveries at the
end of the quarter. Gold recovery for the month of June was 84.1%, compared to an average of 80.3%
over the previous 12 months at Tuvatu (Figure 1). With construction of the flotation circuit underway, gold
recoveries are anticipated to increase to over 90% by the end of 2025 (see release dated
March 20,
2025
).
Figure 1. Tuvatu Monthly Recovery, Last Six Months.
Gold recoveries increased from a 12-month
average of 80.3% to 84.1% in June 2025 because of debottlenecking efforts and improved carbon
management at the mill.
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Mine development achieved record levels during the quarter with a total of 1,503 m of underground
development completed. The arrival of new mining equipment during the quarter, as well as the
completion of the mine ventilation project in early April enabled the mining team to increase the rate of
underground development and to open more levels of the mine. The top three months of development at
Tuvatu were all achieved during this past quarter, with a new record monthly development of 545 m
achieved in May 2025. The average monthly mine development at Tuvatu for the 12 months preceding
this quarter was 340.5 m (Figure 2). More new mining equipment is scheduled to arrive on site and
undergo commissioning in July and August, which is expected to further increase the rate of
development at Tuvatu. Notably, the development of the Company's first shrinkage stope is now
complete, with production scheduled for July, August, and September. Drilling in the shrinkage stope has
returned high grade intervals, such as
142.66 g/t Au over 2.2 m, 489.52 g/t Au over 0.4 m, 168.95 g/t
Au over 0.5 m, and 156.55 g/t Au over 0.6 m
(see news releases dated
March 25, 2025
and
May 12,
2025
).
Lion One CEO Ian Berzins stated: "With the Tuvatu gold mine still in the pilot plant stage of development,
we have made great progress this quarter in laying the foundations for future success at Tuvatu. We have
increased gold recoveries on the mill side and we have increased the rate of underground development
on the mine side, both of which we expect to continue to improve moving forward. With production from
the shrink stope coming online in July we anticipate this upcoming quarter to achieve even stronger
results."
Figure 2. Tuvatu Monthly Mine Development, Last Six Months.
Record Capital and Operating
Development was achieved during the quarter ending June 30
th
2025. This was a result of the arrival of
new mining equipment during the quarter as well as the completion of the mine ventilation project in early
April 2025. Record mine development of 545 m was achieved in May 2025. This compares to average
monthly mine development of 340.5 m during the preceding 12 months from April 2024 to March 2025.
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Qualified Persons Statement
In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-
101"), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the
Company and has reviewed and approved the technical and scientific content of this news release.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in
conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical
assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is
split by Lion One personnel on site, with half core samples sent for analysis and the other half core
remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered
to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab
to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish.
Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is
considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in
Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where
applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach
and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through
Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES) but currently focuses on a suite
of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with
new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The
Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the
Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the
entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration
targets.
On behalf of the Board of Directors,
Walter Berukoff, Chairman of the Board
Contact Information
Email:
Phone: 1-855-805-1250 (toll free North America)
Website:
www.liononemetals.com
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or 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", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such
words 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 labor 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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