Lion Rock Resources Commences Drilling at Volney Project, South Dakota

Rhea-AI Summary

Lion Rock Resources (OTCQB: LRRIF) has commenced its inaugural drill program at the Volney Project in the Black Hills, South Dakota, after completing a $5.3 million financing in Q3 2025. The multi-phase campaign will test multiple gold and lithium targets across a structurally controlled gold and LCT pegmatite system defined over a 1,000 m strike.

Key field results include chip samples up to 14.0 g/t Au, float to 189.5 g/t Au, outcrop lithium up to 3.7% Li2O, historic stockpiles averaging 3.8% Li2O and a peak of 5.3% Li2O. New exMAG drone and 3D inversion data and a DANR permit support multi-commodity targeting.

Positive

• $5.3M financing closed in Q3 2025, fully funding initial drilling
• Surface gold samples to 14.0 g/t Au and float to 189.5 g/t Au
• Lithium outcrop assays to 3.7% Li2O and historic stockpiles avg 3.8% Li2O
• DANR permit approved to test multiple targets along strike and at depth

Negative

• Project at exploration stage with inaugural drill program (no prior modern subsurface test)
• No mineral resource or reserve reported yet to define economic potential

Vancouver, British Columbia--(Newsfile Corp. - November 3, 2025) - Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB) (OTCQB: LRRIF) ("Lion Rock" or the "Company") is pleased to announce that it has begun the inaugural drill program on the Volney Project, located in the historic Black Hills mining district of South Dakota, USA.

Following the completion of a $5.3 million financing in Q3 2025, Lion Rock enters this inaugural drill campaign in a strong financial position, fully funded to execute an extensive multi-phase exploration and drilling program at the Volney Project (see Lion Rock news release dated September 15, 2025).

News Highlights

• Drilling Underway: The program is designed to test multiple gold and lithium targets identified through historic drilling, surface sampling, and recent fieldwork. This marks the first modern drill testing of the Volney trend, a structurally controlled gold and LCT pegmatite system defined over a 1,000 m strike length (Figures 1 and 2).

• High-grade Gold with Expansion Potential Along Strike: Surface sampling has outlined several gold-bearing zones, including a shear trend where chip samples returned up to 14.0 g/t Au, and float samples up to 189.5 g/t Au (see Lion Rock news release dated May 28, 2025). The Volney trend demonstrates exceptional expansion potential across underexplored structural corridors.

• Lithium and Tin Provide Multi-Commodity Opportunity: Sampling across a 1,000 m by 500 m corridor confirmed multiple high-grade lithium-bearing pegmatites. Outcrop samples returned up to 3.7% Li₂O, while historic stockpiles averaged 3.8% Li₂O, with a peak value of 5.3% Li₂O. Tin assays exceeded 1.0% Sn in thirteen stockpile samples, underscoring strong by-product potential within the Giant Volney pegmatite and associated pegmatite units (see Lion Rock news release dated May 13, 2025).

• New Magnetic and 3D Inversion Data Strengthen Geological Model: The Company's exMAG drone survey and 3D inversion identified a large, consistent magnetic high coinciding with gold mineralization along the Rusty Shaft shear corridor, and magnetic lows correlated with lithium-bearing pegmatites. These results reinforce the presence of a deep-seated mineralized system spanning more than 1,000 m (see Lion Rock news release dated August 11, 2025).

• Drill Permitting Supports Multi-Commodity Targeting: The South Dakota Department of Agriculture and Natural Resources (DANR) has approved a strategic permit area that positions Lion Rock to efficiently advance multiple high-priority gold, lithium, and tin targets across the Volney Project. The approved sites enable comprehensive testing along strike and at depth.

Dale Ginn, President and CEO of Lion Rock, stated, "We're very excited to begin drilling at Volney, following an exceptional year of groundwork that defined strong gold and lithium systems across the project. The new magnetic data and recent surface results have given us a clear picture of where to focus initial drilling. This is the first modern subsurface testing of the Volney trend, and we believe it has the potential to outline a significant multi-commodity discovery."

Figure 1. Volney Project map highlighting recent high-grade sampling results and priority drill target areas for the upcoming campaign.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8985/272845_597a2a67b4d6bb84_001full.jpg

Figure 2. General cross-section at the Rusty Gold target and Volney Lithium target area, showing recent sampling results and priority drill targets with 3D magnetic inversion.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8985/272845_597a2a67b4d6bb84_002full.jpg

About the Volney Project

The Volney property is a multi-commodity project strategically located in South Dakota's Black Hills, a historically rich and active mining region (Figure 3). The Homestake Mine in the Black Hills produced more than 40 million ounces of gold, making it one of the most significant gold producers in North American history.¹ The Volney Project is home to the Giant Volney pegmatite, a 635 m long LCT (Lithium-Cesium-Tantalum) pegmatite which remains untested at depth. The district continues to attract modern exploration efforts, with companies such as Dakota Gold Corp. actively advancing projects within the Black Hills. The project is accessible year-round and consists of private claims with surface and mineral rights, which facilitates rapid permitting and project advancement.

Figure 3. Volney Project regional map in the Black Hills, South Dakota.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8985/272845_597a2a67b4d6bb84_003full.jpg

The technical content of this news release has been reviewed and approved by Carl Ginn, P.Geo., consultant to the Company and a Qualified Person pursuant to National Instrument 43-101.

About Lion Rock Resources Inc.

Lion Rock Resources Inc. is a Canadian mineral exploration company committed to advancing high-grade gold and lithium projects across North America. The Company's flagship asset, the Volney Project, is located in South Dakota's Black Hills, a mining-friendly jurisdiction surrounded by active gold operations. The Company is led by an award-winning team with a proven track record of mineral discoveries, project development, and financing.

On Behalf of the Board

R. Dale Ginn, President & Chief Executive Officer
O: 604-678-5308
E: dale@rsdcapital.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", "potential", "indicative" and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Such forward-looking information is based on the current expectations of management of the Company. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of risks and uncertainties, including without limitation risks and uncertainties inherent in the exploration and development of mineral properties, fluctuations in commodity prices, counterparty risk, market conditions, regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. In making the forward-looking statements in this press release, the Company has applied several material assumptions. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

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¹ James Norton, 1974, Gold in the Black Hills, South Dakota, and how new deposits might be found, USGS Publications Warehouse

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272845

FAQ

What did Lion Rock (LRRIF) announce on November 3, 2025 about Volney drilling?

Lion Rock began its inaugural drill program at Volney after a $5.3M financing to test gold and lithium targets across a 1,000 m strike.

What high-grade gold results support Lion Rock's Volney drill targets (LRRIF)?

Surface sampling returned chip samples up to 14.0 g/t Au and float samples up to 189.5 g/t Au.

What lithium assay results did Lion Rock report for Volney (LRRIF)?

Outcrop samples reached 3.7% Li2O, historic stockpiles averaged 3.8% Li2O with a peak of 5.3% Li2O.

Does Lion Rock have permits to drill Volney (LRRIF) and what do they allow?

Yes; the South Dakota DANR approved a strategic permit area enabling testing of multiple high-priority gold, lithium, and tin targets along strike and at depth.

How does new geophysical data affect Lion Rock's Volney targeting (LRRIF)?

exMAG drone and 3D inversion data identified magnetic highs tied to gold and lows tied to lithium pegmatites, refining drill targets across >1,000 m.

What is the near-term objective of Lion Rock's Volney drill campaign (LRRIF)?

To perform the first modern subsurface tests of the Volney trend and evaluate gold, lithium, and tin mineralization along defined structural corridors.