The Board of Directors ('Board') of LionGold Corp Ltd ('Company') wishes to announce that it received notification on 23 July 2020 that the Australian Securities & Investments Commission ('ASIC') has on 1 July 2020 deregistered its wholly-owned dormant subsidiary, Shen Yao International Holding Pty Ltd ('SYIH') in Australia.

The deregistration of SYIH is not expected to have any material impact on the net tangible assets and earnings per share of the Company and the Group for the financial year ending 30 June 2021.

Save for their respective directorships and/or shareholdings in the Company and its subsidiaries, none of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the deregistration of SYIH.

This announcement has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the 'Sponsor'). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the 'SGX-ST') and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

Contact:

Tel: +65 6690 6860

Fax: +65 6690 6844

Email: info@liongoldcorp.com

Web: www.liongoldcorp.com

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