LION COPPER & GOLD Business Summary

Lion Copper and Gold Corp. (LCGMF) is a mineral exploration and development company primarily focused on advancing its flagship Yerington Copper Project in Mason Valley, Nevada. The company operates as a pre-revenue venture, generating capital through strategic earn-in agreements, private placements, and convertible debenture offerings. Its business model is centered on the acquisition and de-risking of district-scale copper assets, specifically leveraging its partnership with Nuton LLC, a Rio Tinto venture, which provides technical expertise and funding for the project's transition from Pre-Feasibility to a Definitive Feasibility Study (DFS). The company's primary segments include the Yerington, MacArthur, and Bear deposits, which are positioned to supply 99.99% pure copper cathode to the domestic U.S. market. Within the competitive landscape, LCGMF operates alongside junior and mid-tier peers such as Taseko Mines, Hudbay Minerals, and Thunder Mountain Gold; it distinguishes itself through its brownfield-advantaged site with significant existing infrastructure and a strategic alignment with Rio Tinto's proprietary heap leach technologies. The leadership team is led by CEO John Banning, a seasoned mining executive with over 25 years of experience in corporate strategy and project design, who took the helm in April 2025 to oversee the project's permitting and feasibility phases. The board is co-chaired by C. Travis Naugle, a professional engineer with an MBA from the University of Chicago, and Tom Patton, a renowned geologist and former President of Western Silver who led the discovery of the world-class Peñasquito deposit. Other key executives include CFO Lei Wang, a CPA with two decades of mineral resource experience, and Doug Stiles, VP of Sustainability & Environment, who manages complex regulatory and permitting strategies. Notable backing includes significant equity positions and debt financing from Director Tony Alford, as well as the substantial multi-stage investment from Nuton LLC, which recently committed $30.5 million to fund the company's 2026 development milestones.