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Lion Copper & Gold (OTCQB: LCGMF) reports 6.71B lb copper Bear resource

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Lion Copper & Gold Corp. announced a maiden Mineral Resource Estimate for the Bear Deposit within the Yerington Copper Project in Nevada.

The estimate outlines an Indicated Resource of 6.71 billion pounds of contained copper (1,064 Mt at 0.29% Cu) and an Inferred Resource of 8.77 billion pounds (1,770 Mt at 0.22% Cu), reported at a 0.10% Cu cut-off within an open-pit shell. The model, effective July 21, 2026, is based on 79 drill holes and 25,825 assays and was prepared in accordance with CIM Definition Standards and NI 43-101 by independent qualified person Tim Maunula.

The company states that the resource remains open for expansion and upgrading and that Bear materially increases its district-scale copper inventory, supporting engineering and mine-planning studies alongside the Yerington Copper Project. Bear forms part of mining assets subject to an Earn-In Agreement under which Nuton LLC may earn at least 65% of a planned project-level LLC if funding milestones and elections are met. Management emphasizes that Mineral Resources are not Mineral Reserves, do not demonstrate economic viability, and that any future development depends on engineering, permitting, financing, property rights and other factors.

Positive

  • None.

Negative

  • None.

Filing Explained

The August 4 disclosure adds no current ownership change: Nuton’s potential 65% stake remains conditional, and the announcement is furnished rather than filed.

On August 4, 2026, Lion Copper & Gold announced the Bear Deposit mineral-resource estimate under Item 7.01; the filing states that Nuton does not currently own the Mining Assets, so the announcement itself does not change ownership.

The Item 7.01 information and attached press release are deemed “furnished,” not “filed,” and are not incorporated by reference into another filing except through specific reference. Nuton’s potential acquisition of at least 65% of a newly formed LLC remains subject to funding requirements, elections, and future formation and asset transfers.

The company says it controls most, but not all, surface or other property interests that may ultimately be needed for development. A supporting NI 43-101 technical report is expected within 45 days of the press release, providing a named document for further detail on the resource assumptions and property position.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Indicated contained copper 6.71 billion pounds Bear Deposit Indicated Mineral Resource in the maiden MRE
Indicated tonnage 1,064 Mt Bear Deposit Indicated Mineral Resource tonnage at 0.29% Cu
Indicated grade 0.29% Cu Copper grade for Indicated Mineral Resource at Bear Deposit
Inferred contained copper 8.77 billion pounds Bear Deposit Inferred Mineral Resource in the maiden MRE
Inferred tonnage 1,770 Mt Bear Deposit Inferred Mineral Resource tonnage at 0.22% Cu
Cut-off grade 0.10% Cu Economic cut-off grade used for sulfide material in the Bear MRE
Net copper price assumption US$4.22/lb Net copper price used to derive the 2026 Bear Mineral Resource cut-off
Metallurgical recovery 75% Recovery assumption for sulfide material in the Bear Deposit MRE
Mineral Resource Estimate technical
"announced its maiden Mineral Resource Estimate ("MRE") for the Bear Deposit"
A mineral resource estimate is a calculated approximation of how much metal or mineral material likely exists in a particular deposit and where it sits underground, similar to estimating how many cookies are in a jar by peeking at the layers. It matters to investors because it provides a data-based starting point for judging a project's potential value, future production and risks, while not guaranteeing recoverable or profitable amounts.
Indicated Mineral Resource technical
"approximately 6.71 billion pounds Indicated and 8.77 billion pounds Inferred"
A quantified portion of a mineral deposit where geological evidence and sampling give a reasonable level of confidence in the quantity, grade and continuity of the minerals — think of it as a well-marked stretch on a treasure map rather than a vague hunch. It matters to investors because it provides a credible estimate that can be used for preliminary economic studies and valuation, reducing uncertainty compared with less-certain resource categories.
Inferred Mineral Resource technical
"upgrade and expand the Inferred Mineral Resource through additional drilling"
An inferred mineral resource is an early-stage estimate of the amount and grade of minerals in the ground based on limited sampling and geological evidence; think of it as a rough sketch of where valuable material might be, rather than a detailed blueprint. It matters to investors because it signals potential upside but carries high uncertainty—further drilling and study are needed before it can support mine planning or reliable economic forecasts.
NI 43-101 regulatory
"as defined by NI 43-101 guidelines, is Tim Maunula, P.Geo."
A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.
Earn-In Agreement financial
"entered into a definitive Earn-In Agreement relating to the "Mining Assets""
An earn-in agreement is a contract where one company gradually gains ownership in a project or business by meeting agreed milestones, usually through funding, completing work, or making payments. It matters to investors because it spreads risk and cost over time, like paying for a car in installments only if it runs as promised, and signals future ownership shifts and potential dilution or value creation for current shareholders.
reasonable prospects for eventual economic extraction technical
"are considered to have reasonable prospects for eventual economic extraction"

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FAQ

What did Lion Copper & Gold (LCGMF) announce regarding the Bear Deposit?
Lion Copper & Gold announced a maiden Mineral Resource Estimate for the Bear Deposit within its Yerington Copper Project, outlining substantial Indicated and Inferred copper resources that will support engineering, mine-planning and broader district development studies in Nevada.

How large is the Indicated and Inferred copper resource at LCGMF’s Bear Deposit?
The Bear Deposit hosts an Indicated Resource of 6.71 billion pounds of copper (1,064 Mt at 0.29% Cu) and an Inferred Resource of 8.77 billion pounds (1,770 Mt at 0.22% Cu), reported within an open-pit shell at a 0.10% Cu cut-off grade.

What key assumptions underpin Lion Copper & Gold’s Bear Deposit resource estimate?
The Bear Mineral Resource uses a 0.10% Cu cut-off grade, a net copper price of US$4.22/lb after charges, and 75% recovery for sulfide material, with pit shells based on 40° overburden and 45° bedrock slopes under open-pit mining assumptions.

How does the Nuton Earn-In Agreement relate to the Bear Deposit and LCGMF?
The Bear Deposit is part of the Mining Assets under an Earn-In Agreement where Nuton LLC may acquire at least 65% ownership in a future project-level LLC, if it meets funding requirements and both parties elect to proceed with forming the LLC and transferring assets.

What are the main risks and uncertainties highlighted for LCGMF’s Bear Deposit resource?
Lion notes that Mineral Resources are not Mineral Reserves and lack demonstrated economic viability. Converting resources and advancing development depend on engineering results, permitting, financing, acquisition or maintenance of property interests, access rights, and broader technical, environmental, legal and commercial conditions.

What next steps does Lion Copper & Gold plan for the Bear Deposit?
Lion plans to evaluate ways to integrate Bear into district-scale planning with the Yerington Copper Project, pursue expansion and upgrading of the Inferred Mineral Resource through drilling, and assess development scenarios to support advancing engineering and Definitive Feasibility Study work.
false 2026-08-04 0001339688 Lion Copper and Gold Corp. 0001339688 2026-08-04 2026-08-04

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026

LION COPPER AND GOLD CORP.
(Exact name of registrant as specified in its charter)

British Columbia 000-55139 98-1664106
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)

517 West Bridge St., Suite A
 Yerington, Nevada, United States 89447
 (Address of principal executive offices) (ZIP Code)

Registrant’s telephone number, including area code: (775) 463-9600

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class   Trading Symbols   Name of each exchange on which registered
—   —   —

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging growth company ☑

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01. Regulation FD.

On August 4, 2026, Lion Copper and Gold Corp. (the "Registrant") announced its maiden Mineral Resource Estimate ("MRE") for the Bear Deposit located within the Company's Yerington Copper Project in Lyon County, Nevada. A copy of the press release is attached to this report as Exhibit 99.1.

In accordance with General Instruction B.2 of Form 8-K, the information set forth in Item 7.01 and in the press release is deemed to be "furnished" and shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. The information set forth in Item 7.01 of this report shall not be deemed an admission as to the materiality of any information in this report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01 Exhibits.


99.1 News release dated August 4, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

   
Lion Copper and Gold Corp.
Date:  August 4, 2026   (Registrant)
       
       
   
/s/ M. Paredes
      Maria Milagros Paredes, Chief Financial Officer

TSX-V: LEO | OTCQB: LCGMF

Lion Copper & Gold Announces Maiden Mineral Resource Estimate
for the Bear Deposit

Yerington, Nevada - August 4th, 2026 - Lion Copper & Gold Corp. (CSE: LEO) (OTCQB: LCGMF)  ("Lion" or the "Company") is pleased to announce its maiden Mineral Resource Estimate ("MRE") for the Bear Deposit located within the Company's Yerington Copper Project in Lyon County, Nevada.

Highlights

  • Maiden MRE containing an Indicated Resource of 6.71 billion pounds of contained copper (1,064 Mt @ 0.29% Cu) and an Inferred Resource of 8.77 billion pounds of contained copper (1,770 Mt @ 0.22% Cu).

  • The MRE provides a significant technical platform for future engineering, mine planning and resource conversion activities.

  • Resource remains open for expansion and upgrading, subject to further exploration and evaluation.

  • The Bear Deposit is contiguous with the Company's flagship Yerington Copper Project and materially expands Lion's district-scale copper mineral resource endowment within the Yerington Copper District.

CEO Comment

John Banning, Chief Executive Officer, commented:

"The maiden Mineral Resource Estimate for the Bear Deposit represents a defining technical milestone for Lion and significantly enhances the scale and long-term potential of the Yerington Copper Project.

Early in my time with Lion, our Co-Chair, Dr. Tom Patton - whose career includes leading exploration teams responsible for world-class discoveries of the Diavik diamond mine in Canada and the Peñasquito silver deposit in Mexico - challenged management to 'Tackle the Bear!' That simple challenge became one of our strategic priorities. We immediately set about systematically reevaluating our existing knowledge of the deposit, geological modelling and data compilation with rigorous technical analysis to determine its true potential.

Today's Mineral Resource Estimate of approximately 6.71 billion pounds Indicated and 8.77 billion pounds Inferred is the culmination of that work and reflects the vision of the Lion Board, dedication and expertise of our employees, consultants and technical team over several years. With approximately 43% of the contained copper classified as an Indicated Mineral Resource, Bear provides a strong foundation for future engineering studies while also presenting significant opportunities to further upgrade and expand the Inferred Mineral Resource through additional drilling.

The Bear Deposit materially strengthens Lion's copper endowment and reinforces the exceptional geological potential of the Yerington Copper District. As with many large development-stage mining projects, advancing the Bear Deposit toward potential future development will require continued engineering, permitting, financing and securing any additional property interests that may ultimately be required. We believe this Mineral Resource Estimate represents an important step toward unlocking the long-term value of the Bear Deposit and creating lasting value for our shareholders."

Strategic Importance

The Bear Deposit materially increases Lion's mineral resource inventory and enhances optionality for future mine planning and district-scale development. The Company believes Bear further strengthens the strategic significance of the Yerington district as a potential long-life source of domestically produced copper.

Mineral Resource Estimate

The MRE for the Bear Project is summarized in the table below. Mineral Resources are reported at a copper cut-off grade of 0.10 Cu% within a resource pit shell. 

Material Cut-off Grade
(Cu%)		 Tonnes
(Mt)		 Cu% Contained Cu
(000 Cu lbs)
Indicated Sulfide 0.1 1,064 0.29 6,710,000
Inferred Sulfide 0.1 1,770 0.22 8,770,000

Notes:

1. Effective date for this Mineral Resource estimate is July 21, 2026.

2. Mineral Resources were estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Definition Standards on Mineral Resources and Reserves (2014)

3. The independent qualified person for the Mineral Resource, as defined by NI 43-101 guidelines, is Tim Maunula, P.Geo. of T. Maunula & Associates Consulting Inc.

NEWS RELEASE 2

4. The 2026 Mineral Resource estimate uses a break-even economic cut-off grade of 0.10 %Cu for sulfide material based on assumptions of a net copper price of US$4.22/lb (after smelting, refining, transportation and royalty charges) and 75% recovery in sulfide material.

5. Mineral resources are presented as undiluted and in situ for an open-pit scenario and are considered to have reasonable prospects for eventual economic extraction. The constraining pit shell was developed using overall pit slopes of 40 degrees in overburden and 45 degrees in bedrock. The pit optimization to develop the resource-constraining pit shells was performed using HxGN MinePlan software.

6. The quantity and grade of the reported Inferred Resource in this MRE are uncertain in nature and there has been insufficient drilling to define the Inferred Resource as Indicated.

7. Mineral Resources are not Mineral Reserves and do not demonstrate economic viability.

8. There is no certainty that all or any part of the Mineral Resource will be converted into Mineral Reserves.

9. The Qualified Person is not aware of any known environmental, permitting, legal, taxation, socio-political, financial, or other relevant issues that could materially affect the MRE.

10. The Company controls most of the property required for the future development of the Bear Deposit and remains engaged in ongoing property acquisitions.

11. Calculations used metric units (meters, tonnes). Metal contents in the above table are presented in percent, pounds, and tonnes. Metric tonnages and pounds were rounded, and any discrepancies in total amounts are due to rounding errors.

The MRE model was prepared using HxGN MinePlan™ 16.2.1 software and is based on 79 drill holes and 25,825 assays. The cut-off date for the drill hole database was December 31, 2024. The model included five geographic domains and five mineralized domains based on copper grade indicators and structural controls.

Composites of 3.05-meter length were created inside the domains. A total of 16,653 composites were generated.  Grade capping was applied on the composite data based on outlier analysis for each of the ten domains. Capping values ranged from 0.20% to 2.638%.

The bulk density of 2.6 g/cm3 was based on historic and recent testwork from the Yerington and MacArthur deposits which are proximal to the Bear Deposit and have the same host rocks.

Grade model resource estimation was calculated from composited drill hole data using an ordinary kriging (OK) interpolation method in blocks measuring 25m x 25m x 15m in size. Inverse distance weighting and nearest neighbor grade estimation were used for block model verification.

The Indicated and Inferred Mineral Resource categories are constrained to areas where drill spacing is less than 250 meters and 400 meters, respectively, and show reasonable geological and grade continuity. The mineral resource estimates were classified in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (2014).

NEWS RELEASE 3

Geological Summary

The Bear Deposit is interpreted as a large porphyry copper system within the Yerington District. The estimate is supported by drilling, geological interpretation, wireframing, block modelling and geostatistical estimation completed in accordance with industry standard practice. Future activities are expected to focus on expanding mineralization and upgrading portions of the Inferred Mineral Resource.

Property Interests

The MRE has been prepared using the Company's current mineral interests and the assumptions described in the supporting NI 43-101 Technical Report, which will be filed within 45 days of this press release. Lion does not presently own or control all surface and/or other property interests that may ultimately be required for future development of the Bear Deposit. The Qualified Person has concluded that the mineralization demonstrates reasonable prospects for eventual economic extraction based on the assumptions and constraints described in the Technical Report. There can be no assurance that all property interests, access rights, permits or other authorizations necessary for future development will be obtained on acceptable terms or at all.

Nuton Earn-in Agreement

The Bear Deposit forms part of the "Mining Assets" subject to the Option to Earn-in Agreement between the Company, its wholly owned subsidiary Singatse Peak Services, LLC ("SPS") and Rio Tinto America Inc. from March 2022 (the "Option Agreement"). Rio Tinto America Inc. later assigned all of its rights and obligations under such Option Agreement to its indirect wholly owned subsidiary, Nuton LLC ("Nuton") in November 2025.

In December 2025, the Company, SPS and Nuton entered into a definitive Earn-In Agreement relating to the "Mining Assets", which include the Yerington Mine, the MacArthur Project Property, the Wassuk properties, the Bear Option, the Mason Valley Claims and certain associated rights, including water rights (the "Earn-in Agreement").

Under the Earn-In Agreement, and subject to Nuton satisfying the applicable funding requirements, Nuton has the sole and exclusive right to acquire not less than 65% of the ownership interests in a newly formed limited liability company (the "LLC"). Following the Investment Decision contemplated by the Earn-In Agreement, if both the Company and Nuton elect to proceed, the Earn-In Agreement provides for the LLC to be formed and for the Mining Assets to be transferred to it, other than any assets Nuton elects not to have transferred. Nuton does not currently hold an ownership interest in the Mining Assets. There can be no assurance that Nuton will elect to proceed or that the formation and asset transfers contemplated by the Earn-In Agreement will be completed. Nuton's ongoing evaluation activities currently remain focused on the Yerington Copper Project and assessing the potential application of the sulfide leaching technology (Nuton® Technology) in the deposit, with the Company and SPS remaining responsible for mining operations relating to the Mining Assets during the term of the Earn-In Agreement. In December 2025, the Company and Nuton executed a definitive Earn-In agreement, and in January 2026 the Company received a further funding installment from Nuton to advance the Definitive Feasibility Study ("DFS") and associated permitting activities for the Yerington Copper Project.

NEWS RELEASE 4

Additional information regarding the Nuton earn-in arrangement is set out in the Company's prior news releases and continuous disclosure filings.

Next Steps

Lion intends to continue evaluating options to integrate the deposit into broader district planning alongside its Yerington Copper Project which is currently in the Definitive Feasibility Study stage of development. Lion also intends to evaluate expansion and upgrading strategies for the Bear resource and evaluate development scenarios to support advancing engineering studies.

Qualified Person

The Mineral Resource estimate and information regarding supporting data has been reviewed and approved by Tim Maunula, P.Geo., an independent Qualified Person as defined under NI 43-101.

The other scientific and technical information contained in this news release has been reviewed and approved by Todd Bonsall, MMSA QP, a consultant to Lion and a Qualified Person as defined under NI 43-101.

Cautionary Note

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources will be converted into Mineral Reserves. Future development will depend on engineering, permitting, financing, acquisition or maintenance of necessary property interests and numerous technical, environmental, legal and commercial factors. There can be no assurance that the Bear Deposit will ultimately be developed into a producing mine.

On behalf of the Board of Directors,

John Banning
Chief Executive Officer
Lion Copper and Gold Corp.
(775) 463 9600
info@lioncg.com

NEWS RELEASE 5

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws and forward-looking statements within the meaning of applicable United States securities laws, including the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the Bear Deposit, the Mineral Resource Estimate, the potential upgrading or conversion of the Mineral Resource, future exploration, drilling, geological interpretation engineering, mine planning, technical studies, permitting, financing, property acquisitions, access rights, and the earn-in arrangement. Forward-looking statements are generally identifiable by words such as "may", "will", "expect", "intend", "plan", "believe", "anticipate", "estimate", "potential", "could", "should" and similar expressions, and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including risks relating to mineral resource estimation, exploration results, technical studies, metal prices, permitting, financing, title, access and property rights, environmental and regulatory matters, and market conditions.

Forward-looking statements are based on assumptions that management believes to be reasonable as of the date of this news release, including assumptions regarding the accuracy of the Mineral Resource Estimate and supporting technical information, metal prices, recovery assumptions, operating and capital cost assumptions, availability of financing, regulatory and permitting timelines, access to lands and infrastructure, and the ability to obtain or maintain necessary property interests and authorizations.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. Such risks include, without limitation, uncertainty of Inferred Mineral Resources, inability to convert Mineral Resources to Mineral Reserves, commodity prices, metallurgical recoveries, capital and operating costs, availability of equipment, labor and services, permitting and environmental matters, title, surface rights and property access, financing availability, and general economic, political and industry conditions.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

 
NEWS RELEASE 6

Source: View Original Filing on SEC EDGAR

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