Lion One Metals : Presentation Oct 2021

CONFERENCE EXPLORATION UPDATE: OCTOBER 2021

FORWARD LOOKING STATEMENTS

DISCLAIMER

The information provided in this presentation is not intended to be a comprehensive review of all matters and developments concerning the Company and should be read in conjunction with all other disclosure documents of the Company. The information contained herein is not a substitute for detailed investigation or analysis. No securities commission or regulatory authority has reviewed the accuracy or adequacy of the information presented.

FORWARD-LOOKING STATEMENTS

This presentation contains statements and information that constitute forward- looking information within the meaning of Canadian securities legislation, referred to herein as "forward‐looking statements", include statements regarding proposed exploration and development activities and their timing, resource estimates, exploration potential and the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries, mine life, estimated payback period and net present values, opportunities to enhance the value of the Tuvatu Gold Project and other plans and objectives of the Company. In making the forward-looking statements herein, the Company has applied several material assumptions, including that

1. required approvals, permits and financing will be obtained; (2) the proposed exploration and development of the Company's properties will proceed as planned and that actual results will be consistent management's expectations;

1. with respect to mineral resource estimates, the key assumptions and parameters on which such estimates are based; (4) market fundamentals will result in sustained metals and minerals prices; and (5) with respect to the PEA, the assumptions underlying the PEA, that the proposed mine plan and recoveries will be achieved, that capital costs and sustaining costs will be as estimated and that no unforeseen accident, fire, ground instability, flooding, labor disruption, equipment failure, metallurgical, environmental or other events that could delay or increase the cost of development will occur.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements, including: delays or inability to obtain required government or other regulatory approvals, permits or financing, the risk of unexpected variations in mineral resources, grade or recovery rates, of failure of plant, equipment or processes to operate as anticipated, of accidents, labor disputes, and unanticipated delays in completing exploration and development activities, the risk that estimated costs will be higher than anticipated and the risk that the proposed mine plan and recoveries will not be achieved, bad weather, exploration and development risks, actual results of exploration and/or development activities being materially different from those expected by management; uncertainties related to interpretation of drill results and geological tests, failure to meet expenditure and financing requirements, title matters, third party consents, operating hazards, metal prices, political and economic factors, competitive factors and general economic conditions. Actual results may vary from those implied or projected by forward-looking statements and therefore investors should not place undue reliance on such statements. The forward-looking statements herein are made as at the date of this presentation and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements except as required by applicable securities legislation.

TECHNICAL DISCLOSURE

The technical information in this presentation has been approved by Sergio Cattalani, P,Geo., Senior Vice President, Exploration of the Company and a Qualified Person as defined by National Instrument "NI" 43-101 Standards of Disclosure for Mineral Projects .

TSX-V: LIO OTCQX: LOMLF	2	www.liononemetals.com

INVESTMENT PROFILE

INVESTORS & FUNDS

DONALD SMITH VALUE FUND (12.09%) FRANKLIN PRECIOUS METALS (9.58%) INVESCO GOLD FUND (4.84%)

REGAL FUNDS MANAGEMENT RBC GLOBAL PRECIOUS METALS AEGIS VALUE FUND

CI PRECIOUS METALS FUND GABELLI GOLD FUND MACKENZIE PRECIOUS METALS WALTER BERUKOFF (13%)

TSX-V: LIO

Shares Outstanding	156,371,893
Options	9,480,000
Broker Warrants	1,303,010
Warrants	0
Shares Fully Diluted	167,154,903
Working Capital	CAD$55M
Market Capitalization	$172M*

* As of Oct. 1, 2021 @ $1.10 per share

CANADA	USA	AUSTRALIA
TSX-V: LIO	OTCQX: LOMLF	ASX: LLO

LIO: $1.10 52wk: $2.16	$1.00 Avg. vol: 180k

TSX-V: LIO OTCQX: LOMLF	3	www.liononemetals.com

LEADERSHIP

Walter Berukoff

Chairman & CEO

DIRECTORS

COMPANY BUILDER TRACK RECORD

Northern Orion sold to Yamana in 2007 for $1.1B Miramar Mining sold to Newmont in 2008 for $1.5B La Mancha sold in 2012 for $600M

Emperor Gold Mines Fiji Gold Assets

(Vatukoula & Tuvatu) purchased in 2008. Lion One Metals Limited created in 2011

STEPHEN MANN PGEO EX-NEWCREST& AREVA RICHARD MELI CA., EX-RIOTINTO, LA MANCHA KEVIN PUIL CFA RIVI ADVISORS

DAVID TRETBAR PGEO SUMMIT USA (SUMITOMO)

MANAGEMENT

PATRICK HICKEY, COO EX-NEWMONT,KINROSS SERGIO CATTALANI, SVP EXPLORATION EX OSISKO

TONY YOUNG, CA CFO

HAMISH GREIG, VP, CORP. SECRETARY

TSX-V: LIO OTCQX: LOMLF	4	www.liononemetals.com

MINING DIVISION

Patrick Hickey	Kevin Li
Chief Operating Officer	Project Manager
Engineer, mine builder, Ex	Engineer - Formerly Fluor, SNC
Newmont/Kinross	Lavalin, Saskpower, Pretium

Lion One Fiji Team

Over 200 years combined experience in underground mining, geology, drilling, and mineral exploration

TSX-V: LIO OTCQX: LOMLF	5	www.liononemetals.com