Mr. R. Dale Ginn reports

LION ROCK ANNOUNCES EXTENSION OF WARRANTS

Lion Rock Resources Inc. has applied to the TSX Venture Exchange for approval of an amendment to certain share purchase warrants issued pursuant to a private placement by extending the expiry date for one additional year.

The warrants affected are three million share purchase warrants issued on July 8, 2022, with an expiry date of July 8, 2024, and exercisable at 25 cents per common share. The new expiry date will be July 8, 2025, and the exercise price shall remain the same. The company will not be sending out new warrant certificates unless requested by the holder.

A total of 100,000 warrants are held by parties considered to be related parties of the company. Therefore, the warrant amendment constitutes a related-party transaction as contemplated by Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions) and TSX-V Policy 5.9 (Protection of Minority Shareholders in Special Transactions). However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the warrants held by insiders does not exceed 25 per cent of the market capitalization of the company.

The warrant amendment is subject to acceptance by the TSX Venture Exchange.

About Lion Rock Resources Inc.

Lion Rock is a brownfield exploration company focused on the Maybrun copper-gold project in Northwestern Ontario, approximately 80 kilometres from New Gold's Rainy River gold mine and 15 kilometres from First Mining Gold's Cameron Lake project. The company also holds properties prospective for lithium in Ontario and Quebec.

We seek Safe Harbor.