18:47:27 EDT Thu 27 Aug 2026
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Lion Rock Resources Inc (2)
Symbol ROAR
Shares Issued 115,866,766
Close 2026-08-27 C$ 0.245
Market Cap C$ 28,387,358
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Lion Rock completes surface exploration at Volney

2026-08-27 16:26 ET - News Release

Mr. R. Dale Ginn repots

LION ROCK EXTENDS TIN AND TANTALUM MINERALIZATION AT VOLNEY AS PHASE 2 DRILL PLANNING BEGINS

Lion Rock Resources Inc. has completed a property-wide surface exploration program at the Volney critical minerals and gold project in South Dakota's Black Hills. Mapping and sampling identified visible tin and tantalum mineralization up to approximately 300 metres beyond previously reported mineralization, including coarse tantalite crystals up to approximately 10 centimetres at the Volney lower pit. Over 100 samples have been submitted for assay, and results will be used to define additional drill targets for the coming phase 2 program.

Highlights:

  • Visible tin and tantalum mineralization identified up to approximately 300 metres beyond previously reported mineralization, expanding the target base ahead of phase 2;
  • Coarse tantalite crystals up to approximately 10 centimetres observed in quartz-mica pegmatite at the Volney lower pit, and visible cassiterite identified at the Rough and Ready occurrence;
  • Over 100 grab samples collected across the project, approximately 60 testing gold targets and 48 testing tin and tantalum targets, covering both systems; assay results pending;
  • Updated geological mapping has differentiated the pegmatites hosting lithium, tin and tantalum, allowing phase 2 drilling to be aimed at the most prospective pegmatites for each commodity;
  • The program covered the full Volney property, extending mapping well beyond the area tested by phase 1 drilling, and the results are being incorporated into the company's geological model to guide phase 2 drill targeting.

Nav Dhaliwal, executive chairman, commented: "Our first drill program confirmed lithium, tin and tantalum over significant widths at Volney. This summer's surface program has extended the known mineralized area and greatly enhanced our understanding of the system. We are now planning an aggressive phase 2 drill program while advancing metallurgical and processing studies and progressing key permitting initiatives, including the state mine licence."

Surface sampling program

Lion Rock collected over 100 grab samples across the project, approximately 60 focused on gold targets and 48 on tin and tantalum targets. All samples have been submitted to SGS, the laboratory used for the phase 1 drill program, maintaining continuity of analytical methods and quality assurance/quality control protocols.

New tin and tantalum occurrences

Prospecting and mapping identified visible tantalum- and tin-bearing mineralization across multiple historic workings and in areas extending approximately 300 metres beyond previously reported mineralization.

At the Volney lower pit, sampling targeted a tantalite-rich seam exposed in the pit face. Nearby quartz-mica pegmatite hosts coarse tantalite crystals reaching up to approximately 10 centimetres. At the Rough and Ready occurrence, sampling identified cassiterite-bearing quartz-mica pegmatite with visible cassiterite mineralization. Amblygonite-bearing pegmatite identified during mapping is considered prospective for lithium. All mineral identifications are visual and pending assay confirmation.

Updated mapping has differentiated the pegmatites hosting each commodity, giving Lion Rock a framework for commodity-specific targeting. Rather than treating all pegmatites as a single population, the company can direct phase 2 drilling at the most prospective pegmatites for lithium, tin or tantalum. The new interpretation is being integrated with phase 1 drill results in the company's 3-D geological model to prioritize drill targets and better define the geometry and potential scale of individual pegmatite bodies.

Next steps

Assay results will be reported once received, compiled and verified, and will be used to finalize phase 2 drill targeting, which will expand on the phase 1 drill area and test new targets identified by the surface program. Results from the gold-focused sampling will be reported separately.

Cautionary note on visual observations

Mineral occurrences described in this news release were identified visually in the field. Visual identification of minerals is not a substitute for assay results and should not be considered indicative of grade. Assay results from the surface sampling program are pending and will be reported once received.

Qualified person

The technical content of this news release has been reviewed and approved by Carl Ginn, PGeo, consultant to the company and a qualified person pursuant to National Instrument 43-101.

About Lion Rock Resources Inc.

Lion Rock Resources is advancing the Volney lithium-tin-tantalum project in South Dakota. Volney is a past-producing critical minerals asset that additionally hosts a recently made gold discovery. It is located in a mining-friendly jurisdiction and surrounded by active gold operations. The property is easily accessible through an all-season road, has on-site power, and is less than a one-hour drive from the U.S. rail network. The company is led by an award-winning team with a proven record of mineral discoveries, project development and financing.

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