Critical Water Rights Regained For Yerington Copper Project

YERINGTON, NV - Lion Copper and Gold reported on the successful negotiation of a Settlement Agreement with the Nevada Division of Water Resources and the Nevada State Engineer to reinstate previously forfeited water rights essential for the development of the Yerington Copper Project. This Agreement successfully resolves all outstanding legal proceedings related to the forfeiture of specific water rights. Under the terms of the Agreement, Lion CG has secured its full allocation of 6,014 acre-feet of primary groundwater water rights designated for mining uses, representing a crucial resource for the Project's advancement.

As a result of this Agreement, the State has officially rescinded its notice of forfeiture, restoring the Company's water rights to good standing. Moving forward, Lion CG will maintain compliance by filing regular applications for extensions of time (EOTs) until the water is put to beneficial use for mining purposes. The Agreement highlights the value of productive collaboration between private industry and regulatory authorities in promoting sustainable and responsible mining development in Nevada.

Steven Dischler, CEO, said, "We would like to thank the Nevada Division of Water Resources and the Nevada State Engineer for the time and effort they put into working together with us to get this Agreement in place. Having certainty of water represents a major step forward in advancing our Project toward domestic copper production right here in Yerington, Nevada. A key condition of future EOT applications will be Lion CG's demonstration of consistent progress in advancing the Project toward production. We remain fully committed to maximizing the benefits this Agreement unlocks for the State of Nevada, Lyon County and the surrounding communities. We look forward to continuing our collaboration with our regulatory partners and other stakeholders to earn our social license to operate, while positively contributing to the economic growth of Mason Valley and the State of Nevada."

Lion CG confirms it remains on schedule to complete the Project's Pre-Feasibility Study by June 2025.