Mr. John Byrne reports

LIONS BAY ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Lions Bay Capital Inc. has closed the second tranche of the non-brokered private placement previously announced on Aug. 11, 2025, and Aug. 28, 2025. The second tranche comprises a total of 3,975,000 units of the company at a price of 10 cents per unit for aggregate gross proceeds of $397,500. Each unit will consist of one common share and one-half common share purchase warrant, with each full warrant being exercisable to purchase one common share at a price of 20 cents expiring Nov. 7, 2027. In aggregate, the company issued 10.85 million units for total proceeds of $1,085,000 inclusive of the first tranche closing.

Metals One PLC, a strategic partner based in the United Kingdom, acquired 7.5 million total units at 10 cents per unit for total consideration of $750,000 in aggregate in both tranches of the financing. The acquisition of 7.5 million units resulted in holdings of approximately 19.10 per cent of the outstanding common shares of the company and 26.15 per cent of the outstanding common shares of the company on a partially diluted basis (assuming exercise of 3.75 million warrants). Prior to the private placement, Metals One did not own or control any securities of the company. Following completion of the private placement, Metals One will beneficially own and control 7.5 million common shares and 3.75 million warrants, representing 19.10 per cent of the outstanding shares on a non-diluted basis and 26.15 per cent of the outstanding shares on a partially diluted basis assuming the exercise of such warrants.

The units were acquired by Metals One for investment purposes. Metals One has a long-term view of the investment and may acquire additional securities of the company, including on the open market or through private acquisitions, or sell securities of the company, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of Metals One's early warning report will appear on Lions Bay's profile on SEDAR+.

The company intends to use the net proceeds raised from the private placement to carry out the due diligence procedure on the cogeneration power plant, debt reduction and general working capital.

No commissions or finder fees were payable in connection with the private placement. All securities issued under the private placement will be subject to statutory hold periods expiring March 8, 2026. Closing of the private placement is subject to final approval of the TSX Venture Exchange.

About Lions Bay Capital Inc.

Lions Bay is a mining finance and investment company focused on unlocking the value of overlooked or underperforming resource assets, with a strategic emphasis on gold and copper. Unlike traditional exploration companies, Lions Bay raises capital to invest in compelling opportunities rather than deploying funds on high-risk exploration or excessive executive overhead. The company specializes in identifying resource projects that have been neglected due to lack of financing or poor management execution. By leveraging deep industry expertise, Lions Bay provides both capital and strategic support to enhance project value and investor returns.

Lions Bay is led by executive chairman John Byrne, a veteran of the mining sector with over 50 years of experience as an analyst, investor and operator. Under his leadership, the company brings a disciplined, value-driven approach to mining investment.

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