YEAR 2022 - STAGE 1 WORK PROGRAM - Mason Valley, Nevada - TSX-V: LEO www.lioncg.com
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YEAR 2022 - STAGE 1 WORK PROGRAM
Mason Valley, Nevada
TSX-V: LEO
www.lioncg.com
May 18, 2022
TSX-V: LEO | OTCQB: LCGMF 1
Cautionary Notes to US Persons & Forward-
Looking Statements Disclaimer
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 developments concerning the Company and we
assume no responsibility for its completeness, accuracy and currency. For current information, please refer to the Company’s filings on SEDAR (www.sedar.com) or contact the Company directly.
This presentation is not to be construed as an offer to sell, or a solicitation of an offer to buy, securities of the Company. No securities commission has in any way passed on the merits of any of the information contained in this
presentation.
The Company’s technical disclosure in this presentation uses terms such as “measured resources”, “indicated resources” and “inferred resources”, which are defined by the Canadian Institute of Mining, Metallurgy and Petroleum,
and required to be disclosed in accordance with Canadian National Instrument 43-101 (“NI 43-101”). The disclosure standards in the United States Securities and Exchange Commission’s (the “SEC”) Subpart 1300 of Regulation
S-K contain significant differences from the disclosure requirements of NI 43-101 and information presented in this presentation may not be comparable with United States standards in documents filed with the SEC. All disclosure
of scientific or technical information in this presentation concerning our projects, including disclosure regarding mineral resources, has been reviewed and approved by C. Travis Naugle, P.E., CEO of Lion Copper and Gold Corp.
and a qualified person as defined in NI 43-101.
References are made in this presentation to historic mineral resource estimates. A qualified person has not done sufficient work to classify the historic estimates as current mineral resources or mineral reserves. The Company is
not treating the historical estimates as current mineral resources or mineral reserves and, accordingly, they should not be relied upon.
The information in this presentation contains “forward looking statements” and “forward looking information” (collectively, “forward looking statements”) within the meaning of applicable United States and Canadian securities
legislation. Forward looking statements reflect the expectations of management and consist of statements that are not purely historical, including any statements regarding the economic prospects of the Company’s projects, the
Company’s future plans or future revenues, and the timing of development, potential expansion or improvements, are forward looking statements. Often, but not always, forward looking statements can be identified by the use of
the words such as “will”, “may”, “expect”, “could”, “intend”, “potential”, “aims”, “probable”, “believe”, “would”, “continue”, and “possibility” (and variations of these or similar expressions). All of the forward looking statements in this
presentation are qualified by this cautionary note. Should one or more risks, uncertainties, contingencies or other factors materialize or should any factor or assumption prove incorrect, actual results could vary materially from
those express or implied in the forward looking statement.
Such risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund development, changes in general economic conditions or financial markets, changes in prices for the Company’s
mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in countries where the Company operates, technological and operational
difficulties or inability to obtain permits encountered in connection with our exploration and development activities, labor relations matters, and changing foreign exchange rates, which are described more fully in the Company’s
filings available on SEDAR.
Readers are cautioned that forward looking statements are not guarantees of future performance and, accordingly, you should not place undue reliance on forward looking statements. Any forward looking statements made by us
in this presentation are based only on information currently available to us and speaks only as of the date on which it is made. The Company does not undertake to update any forward looking statement after the date of this
presentation or to explain any material difference between subsequent actual events and any forward looking statement, except as required by applicable law.
TSX-V: LEO | OTCQB: LCGMF 2
Mason Valley
Copper Projects
MASON VALLEY IS THE SITE OF A LARGE, HISTORIC
COPPER CAMP IN A PREMIER JURISDICTION 50 MILES
SOUTH-EAST OF RENO, NEVADA
• The MacArthur Project represents the advancement of a
large oxide copper deposit toward the production of pure
cathode copper
• In addition to the oxide resource that is the focus of
ongoing study and permitting efforts, the MacArthur
sulphide resource remains open in most directions and is
the subject of ongoing growth through exploration
• The Yerington Project includes 11 sq. mi. of patented claims
and fee mineral properties centered on the former
Anaconda open pit copper mine
• From 1953 to 1978, Anaconda produced 1.7B lbs of copper;
with 84% of remaining resource within the original open pit
design (K. L. Howard, Jr., Anaconda Internal Memo, 1979)
TSX-V: LEO | OTCQB: LCGMF 3
Option Agreement with Rio Tinto
OPTION TO EARN IN INCLUDES EVALUATION OF NUTON™ TECHNOLOGY
• Rio Tinto may contribute up to US$59M over three stages of mutually agreed Mason Valley work programs.
• Stage 1: Rio Tinto may pay up to US$4M for Mason Valley programs by Lion CG
• UPDATE May 16, 2022 - Work Program approved between Lion CG and Rio Tinto and full US$4M funding now being released
• Stage 2: Further study and evaluation of the properties by Lion CG funded by Rio Tinto, up to US$5M
• Stage 3: Feasibility Study and ancillary work to be completed by Lion CG and funded by Rio Tinto up to
US$50M
NUTON™ TECHNOLOGY
• Rio Tinto’s innovative new venture – proprietary copper leach related technologies and capability
• Designed to unlock known low-grade copper sulphide resources and copper tailings, as well as achieve
higher oxide copper recoveries
• Leading environmental performance: more efficient water use, lower carbon emissions, and better
mine site reclamation outcomes by reprocessing mine waste
TSX-V: LEO | OTCQB: LCGMF 4
Key Areas of Focus in 2022
ESG
Environmental Permitting & Stakeholder Engagement
Evaluate leading ESG Strategies
MACARTHUR
Oxide Project & refreshed approach with NutonTM technologies
Evaluate sulphide growth potential
YERINGTON
Evaluate sulphide growth potential beneath legacy pit
Legacy waste materials using NutonTM technologies
STRATEGIC
Combination & consolidation as value multiplier
District exploration targets & opportunities
TSX-V: LEO | OTCQB: LCGMF 5
Mason Valley Stage 1 Work Program
APPROVED AND FUNDED
• Project Permitting & Baseline Studies
• Exploration Plan of Operations
• Hydrology
• Geochemistry
• Wildlife surveys
• Pre-Plan of Operations
• Stakeholder Engagement
• Permitting Strategy Development
• Engineering Scoping Studies
• MacArthur Project and Execution Planning including a refresh of the 2021 study with
NutonTM technologies
• Yerington Project Scoping Study including the application of NutonTM technologies
• Metallurgical Testing of MacArthur and Yerington Samples
• Testing of Oxide, Transitional and Primary Copper Sulphide samples with NutonTM
technologies
• 6,500 ft Exploration Program to Evaluate Sulphide Growth Potential
• Drilling beneath the Yerington pit
• Drilling beneath the current MacArthur resource pit shell
TSX-V: LEO | OTCQB: LCGMF 6
2022 Exploration – MacArthur
Four drill holes (~3,000 ft)
• Three within an oxidized
porphyry copper center,
centered upon Induced
Polarization (IP) anomalies
and near drill holes which
stop or nearly stop within
copper sulphide
mineralization
• One additional drill hole to
test an IP anomaly that is
structurally-located within an
area of a prospective
porphyry copper center
TSX-V: LEO | OTCQB: LCGMF 7
2022 Exploration – MacArthur
CROSS SECTIONS 306250E & 306300E - LOOKING WEST
40 mr
IP anomaly +0.1% TCu
Unprospected region
sulphide mineralization
35 mr
IP anomaly Ends in +0.3% TCu
Unprospected region
sulphide mineralization
TSX-V: LEO | OTCQB: LCGMF
2022 Exploration – Yerington
Two drill holes (~3,500 ft)
• Test for extension of ore body
QMP-1 – which was the main
mineralizer of the legacy
Yerington Mine with 2-3% TCu
• Test eastern extension of
sulphide mineralization
beneath the pit within a
magnetic low (a key signature
of porphyry deposits in the
Yerington District)
Section D
TSX-V: LEO | OTCQB: LCGMF 92022 Exploration – Yerington
CROSS SECTION D - LOOKING WEST
Unprospected region
located below the
current >0.20% TCu resource
TSX-V: LEO | OTCQB: LCGMFAdditional Exploration Targets
Exploration Targets on Lion CG lands
• Twenty compelling targets have
been identified based on legacy
prospecting by Anaconda
• High priority for ongoing
exploration efforts
• Including:
• Extensions of MacArthur,
Yerington, Bear
• Discrete porphyry & skarn
indications
• Reno-Yerington limb between
the Ann Mason & Yerington
deposits
TSX-V: LEO | OTCQB: LCGMF 11LION COPPER & GOLD CORP.
Corporate Communications
info@lioncg.com
www.lioncg.com
TSX-V: LEO | OTCQB: LCGMF
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