Lion One Metals Limited reports operational, technical, governance and financing developments tied to its 100%-owned Tuvatu Gold Mine and Tuvatu Alkaline Gold Project in Fiji. Company updates commonly address production ramp-up work, flotation plant commissioning, underground development, mining-method selection, drilling and sampling controls, equipment availability, site power reliability and water-management systems.
News also covers corporate matters such as leadership changes, special committee activity, shareholder meeting requests, private-placement financing, strategic partnership decisions and senior debt considerations. Environmental and regulatory themes include tailings storage water management, process-water discharge risk and permitting-related operating constraints at Tuvatu.
Lion One Metals (LOMLF) announced on September 24, 2026, that it engaged Global One Media for digital investor communications. The firm will help produce video interviews and related corporate content, then distribute it through digital channels and media platforms. Lion One's stated aim is to increase its visibility among investors in global markets.
The board also approved a grant of 1,750,000 stock options to employees, officers and directors under its equity incentive plan. The options have a $0.24 exercise price and a five-year term. One-third vest on the grant date, one-third one year later and the remainder two years after the grant date.
Lion One Metals (LOMLF) reported gold assays from underground drilling at its Tuvatu mine in Fiji on September 24, 2026.
The program covered 4,370.20 m of infill and grade-control drilling in Zone 5 of its wholly owned project. Hole TGC-0532 returned 82.28 g/t gold over 4.6 m, including 302.15 g/t over 0.4 m, and a separate 169.47 g/t over 1.0 m. Hole TGC-0535 returned 153.94 g/t over 1.1 m. High-grade mineralization was intersected in 30 of 34 completed holes; three additional holes were abandoned.
Drilling tested extensions of the UR lodes above the 1150 level and below the 1066 level, near active mining. Most high-grade intersections lie within 25 m of underground development. Lion One anticipates incorporating them into the mine plan within six months. The reported intervals are measured along drill holes; their true widths are unknown.
Lion One Metals (OTCQX: LOMLF) reported new high-grade underground infill and grade-control drilling results from 3,337.3 m of drilling at the 100%-owned Tuvatu gold project in Fiji. The top intercept is 715.15 g/t Au over 4.2 m, including 6,571.20 g/t Au over 0.45 m, the highest-grade assay ever recorded at Tuvatu.
The program, drilled from the 1103 level, targeted southern and down-dip extensions of the Ura and Murau lodes in Zone 2 below level 1061. High-grade mineralization was intersected in 14 of 18 holes, mostly within 15–75 m of existing underground development and largely outside the current resource. Lion One plans to incorporate many of these intercepts into the mine plan within about twelve months and sees Ura and Murau, which remain open at depth and along strike, as significant opportunities for resource expansion. Rigorous QA/QC is supported by the company’s ISO/IEC 17025:2017-accredited assay laboratory.
Lion One Metals (OTCQX: LOMLF) has purchased a new Boart Longyear LM90 underground core drill for its 100%-owned Tuvatu alkaline gold mine in Fiji as part of a strategy to expand production. The LM90 can drill to a maximum depth of 990 m, across a full dip range from +90° to -90°, and handle rod sizes from AQ to NQ. A dedicated drill station off Level 1051, 80 m south of Zone 2, is under development to enable lateral and inclined drilling of Zone 500, the West Zone, and Zone 5 from underground for the first time.
According to Lion One, underground drilling from this new platform is expected to allow shorter, faster and lower-cost drillholes with improved intercept angles into steeply dipping high-grade veins. On delivery, anticipated by mid-October 2026, the company’s fleet will comprise four underground drills and two active surface drills, all owned and operated by Lion One except for one leased EDR450 rig.
Lion One Metals (OTCQX: LOMLF, TSXV: LIO) has entered into a forbearance agreement with senior secured lenders Nebari Gold Fund 1, Nebari Natural Resources Credit Fund I and II, extending the final repayment date for Tranche 1 of its senior loan facility to December 31, 2026.
The Facility, put in place in January 2023, totals approximately US$31.2 million of principal outstanding (about US$25.8 million on Tranche 1 and US$5.4 million on Tranche 2; Tranche 3 is repaid). Lion One reports that earlier financial and non‑financial default events, including a breach of a US$7,000,000 working capital covenant, have been cured and the interest margin has reverted to the original level. Part of the net proceeds from a recent US$17.5 million non‑brokered private placement was used to meet Facility obligations and cure the covenant default.
As consideration for extending Tranche 1, Lion One will pay Nebari a US$2,000,000 restructuring fee, which may be reduced to US$1,000,000 if all Facility obligations are fully repaid on or before September 30, 2026. The company has launched a refinancing strategy, potentially involving new senior debt, additional financings and cash from operations, targeting completion by the end of 2026.
Lion One Metals (OTCQX: LOMLF) has started Phase 1 of its Tuvatu Mill Expansion in Fiji, focused on a Filtered Tailings Expansion Project that is designed to raise nominal plant capacity from 300 TPD to 400 TPD by doubling filtration capacity. The project adds two new filter presses, a filter feed tank, two feed pumps, structural and piping upgrades, and one tailings truck, without requiring additional mining or processing equipment. It carries a capital cost of C$1.9 million and incremental operating costs of C$230,000 per year. Based on an estimated additional 2,100 oz of gold annually and a gold price of US$4,000/oz, the company estimates about C$11.8 million in extra yearly revenue and a payback period of around 3 months. Construction has begun and is targeted for completion by the end of Q1 2027, as part of a broader phased expansion to 700 TPD with an estimated total capital cost of C$13.5 million. The company also appointed Shayla Forster as Corporate Secretary.
Lion One Metals (OTCQX: LOMLF) appointed Ronan Geoghegan as Vice President Corporate Development and Investor Relations, effective July 14, 2026. Geoghegan is a P.Geo. with over 15 years of mining experience and an MBA in finance. Lion One also announced the resignation of longtime Vice President, Corporate Secretary and former director Hamish Greig, recognizing his 16 years of contributions, including key roles in advancing the Tuvatu project and other corporate milestones.
Lion One Metals (OTCQX: LOMLF, TSXV: LIO) closed the second tranche of its non-brokered financings, bringing aggregate gross proceeds to $17.5 million, including $14 million from 14,000 convertible debenture units priced at $1,000 and $3.5 million from 26,923,080 units at $0.13.
Each Debenture Unit includes a 10% subordinated secured convertible debenture, convertible at $0.13 with four-year maturity, plus 7,692.3 four-year warrants at $0.175. Each Unit includes one common share and a three-year warrant at $0.175. Lion One plans to use net proceeds to meet upcoming obligations and cure its working capital covenant default under its senior secured facility with Nebari, and for general corporate purposes.
The company signed a Transition Agreement with Concept Capital, under which Concept Capital withdrew its shareholder meeting requisition and agreed to a standstill, while Lion One agreed to adopt a majority voting policy and other governance measures and reimburse certain legal costs. The board also approved 18,900,000 stock options at $0.16 with a five-year term under its omnibus equity plan. Finder’s fees of $125,351.74 were paid in cash, and all securities are subject to a four-month-plus-one-day hold, with completion subject to final TSXV acceptance.
Lion One (OTCQX: LOMLF) reported preliminary operating results for the quarter ended June 30, 2026, at the Tuvatu gold mine in Fiji.
Key metrics:
- 3,291 oz gold recovered, up 21% QoQ
- 4.3 g/t average head grade
- 84.9% gold recovery vs 71.7% prior quarter
- 27,985 tonnes milled at 90% utilization (~308 tpd)
- 1,652 m underground development, 28% QoQ increase
Record quarterly and June monthly recoveries followed continuous operation of the newly commissioned flotation circuit. Safety performance improved, with a TRIF of 4.37 versus 6.55 in the previous quarter.
Lion One (OTCQX: LOMLF) increased its non-brokered private placement from 23,076,923 to 26,923,076 units, targeting up to $3.5 million in gross proceeds. Each unit includes one share and a warrant exercisable at $0.175 for 36 months.
Combined with a previously closed $12.5 million convertible debenture financing and $2,788,184.75 from the first tranche of the placement, proceeds are intended to meet obligations and cure a working capital covenant default under the senior secured loan facility with Nebari. Closing of the second tranche and upsized placement is expected on July 10, 2026, subject to customary approvals and TSXV conditions.