# Lion Copper and Gold Corp. Announces Positive Pea Results for Its Yerington, Nevada Copper Project That Includes the Use of Rio Tinto's Nuton Technologies Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c Original source: https://money.tmx.com/en/quote/LEO/news/4787104792007337/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad Publisher: tmx Original announcement: 2024-01-30T13:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Lion Copper and Gold Corp. - Ticker: LEO - Exchange: TSX - Region: Nevada - Primary commodity: Copper - Secondary commodities: None reported - Document categories: Resource update, Economic study, Metallurgy - Extracted: 2026-09-18 07:14:24 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Lion Copper and Gold Corp. announced positive Preliminary Economic Assessment \(PEA\) results for its Yerington Copper Project in Nevada, featuring a post-tax NPV7% of US$356 million and an IRR of 17.4% at a copper price of $3.85/lb. The PEA outlines a 12-year open pit mine life utilizing Rio Tinto's Nuton technologies for processing primary sulfide copper, eliminating the need for a concentrator and tailings impoundment. The release also includes updated mineral resource estimates for the Yerington Deposit, W-3 Stockpile, and VLT, alongside historical estimates for the MacArthur Deposit. Reasoning: The document announces positive PEA results for the Yerington Copper Project, highlighting strong economics and the use of innovative Nuton technologies for sulfide processing. It also provides updated mineral resource estimates for Yerington, W-3 Stockpile, and VLT, along with historical estimates for MacArthur, and detailed metallurgical recovery projections. The PEA's preliminary nature and reliance on inferred resources are noted. - Positive factor: Positive PEA results with strong post-tax IRR and NPV - Positive factor: Utilization of innovative Nuton technologies for sulfide processing, eliminating concentrator and tailings - Positive factor: Low overall open pit strip ratio - Positive factor: Significant contained copper in resource estimates across multiple deposits - Positive factor: High copper recoveries projected for both oxide and sulfide materials - Negative factor: PEA is preliminary in nature and includes inferred mineral resources - Negative factor: MacArthur resource estimate is historical and not updated in this release - Negative factor: No explicit disclosure of the PEA's effective base date, only the publication date Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 32 ## Classification and evidence **PEA Only** Polarity: neutral Definition: Only Class 4 / Initial Assessment economics available. Not bankable. Why it applies: The economic assessment is explicitly stated as a Preliminary Economic Assessment \(PEA\). Evidence · text > Preliminary Economic Assessment \(" PEA "\) **Inferred Heavy Feed** Polarity: negative Definition: Material Inferred share of LOM mill feed, or the share is undisclosed. Why it applies: The PEA explicitly states it 'includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves'. Evidence · text > The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves **High IRR** Polarity: positive Definition: Post-tax real unlevered IRR in the strong tier or better. Why it applies: The post-tax IRR of 17.4% is in the strong tier for economic studies. Evidence · table > 17.4 Context: IRR **Fast Payback** Polarity: positive Definition: Payback in the strong tier or better, on the required basis. Why it applies: The post-tax payback period of 5.0 years is in the moderate tier. Evidence · table > 5.0 Context: Payback Period **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Multiple Qualified Persons are named as responsible for the PEA Technical Report and have reviewed the news release. Evidence · text > The Qualified Persons \(QPs\), as that term is defined in NI 43-101, responsible for the preparation of the PEA Technical Report, include: Gordon Zurowski, P.Eng., Principal Mine Engineer \(AGP Mining Consultants Inc.\) Tim Maunula, P.Geo, Principal Resource Geologist \(T. Maunula & Associates Consulting Inc.\) - Yerington Mineral Resource estimate Herb Welhener, MMSA-QPM, Vice President \(Independent Mining Consultants, Inc.\) - MacArthur Mineral Resource estimate Adrien Butler, P.E., Senior Civil Engineer \(NewFields\) Jeff Woods, QP, Principal Process Engineer \(Woods Process Services, LLC\) **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The PEA was prepared in accordance with Canadian National Instrument 43-101. Evidence · text > prepared in accordance with the requirements set forth by Canadian National Instrument 43-101 \(" NI 43-101 "\) **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: The projected copper recovery for Yerington Sulfide-Nuton is 74%, which is strong for a heap leach process. Evidence · table > 74% Context: Yerington Sulfide-Nuton **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The Nuton technologies are described as a 'proprietary catalytic bio-heap leaching innovation' and are being evaluated, with further testing slated to confirm metallurgical performance. Evidence · text > Nuton technologies are being evaluated to enable the unlocking of primary sulfide copper resources in a more cost-efficient, environmentally friendly manner, and affording the unique opportunity to produce copper cathode on-site for domestic consumption. ... Further testing of Nuton technologies is slated to confirm metallurgical performance through replicate trials, with completion anticipated in 2024. **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides updated mineral resource estimates for the Yerington Deposit, W-3 Stockpile, and VLT. Evidence · text > The updated Mineral Resources for the Yerington Deposit are: Measured Resources of 62.9 Mtons at 0.30% TCu; Indicated Resources of 94.7 Mtons at 0.27% TCu; and Inferred Resources of 113.2 Mtons at 0.22% TCu \(Table 6\). **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The MacArthur Mineral Resource estimate has an effective date of February 25, 2022, which is more than two years old. Evidence · text > The effective date of the MacArthur Mineral Resource estimate is February 25, 2022. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: the document describes a heap\_leach route \("heap leach"\) **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("concentrator"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 6 distinct composites were tested ## Extracted facts Stored fact records: 30. Some facts used in scoring do not have a stored record. ## Resource Estimates (23) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-9) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:abf7f940c3ebc3c967fe - Deposit or zone: Yerington Deposit - Material type: oxide #### Resource Data - Category: measured - Tonnes: 20230000 - Grade: 0.25 - Grade Unit: % - Contained Metal: 99367000 - Contained Unit: lbs - Cutoff Grade: 0.038 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Measured Oxide resource of 20.23 Mtons at 0.25% TCu represents a high-confidence portion of the Yerington Deposit, contributing significantly to the project's overall resource base. - Positive factor: Measured category indicates high confidence - Positive factor: Good contained copper for oxide material #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-10) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:f847c01eae7601e70bf9 - Deposit or zone: Yerington Deposit - Material type: sulphide #### Resource Data - Category: measured - Tonnes: 42671000 - Grade: 0.32 - Grade Unit: % - Contained Metal: 274578000 - Contained Unit: lbs - Cutoff Grade: 0.126 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Measured Sulfide resource of 42.67 Mtons at 0.32% TCu is a significant, high-confidence component of the Yerington Deposit, especially given the planned Nuton processing for sulfides. - Positive factor: Measured category indicates high confidence - Positive factor: Higher grade and contained copper for sulfide material #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-11) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:8a314529cdea6bfb521b - Deposit or zone: Yerington Deposit #### Resource Data - Category: measured - Tonnes: 62901000 - Grade: 0.3 - Grade Unit: % - Contained Metal: 373945000 - Contained Unit: lbs #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The total Measured resource of 62.9 Mtons at 0.30% TCu provides a solid, high-confidence foundation for the Yerington project. - Positive factor: Large Measured resource base for the Yerington Deposit - Positive factor: High confidence in the resource estimate #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-12) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:5162107302d3e5969ecb - Deposit or zone: Yerington Deposit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 13749000 - Grade: 0.22 - Grade Unit: % - Contained Metal: 60166000 - Contained Unit: lbs - Cutoff Grade: 0.038 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Indicated Oxide resource of 13.75 Mtons at 0.22% TCu adds to the project's resource base with reasonable confidence, supporting future economic studies. - Positive factor: Indicated category provides reasonable geological confidence #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-13) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:21e1fefb808637761ce2 - Deposit or zone: Yerington Deposit - Material type: sulphide #### Resource Data - Category: indicated - Tonnes: 80960000 - Grade: 0.28 - Grade Unit: % - Contained Metal: 457921000 - Contained Unit: lbs - Cutoff Grade: 0.126 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Indicated Sulfide resource of 80.96 Mtons at 0.28% TCu is a substantial component, providing reasonable confidence for future mine planning, especially with the Nuton technology. - Positive factor: Large Indicated Sulfide resource - Positive factor: Reasonable geological confidence #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-14) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:0296152d4d5aa40a0f1b - Deposit or zone: Yerington Deposit #### Resource Data - Category: indicated - Tonnes: 94709000 - Grade: 0.27 - Grade Unit: % - Contained Metal: 518087000 - Contained Unit: lbs #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The total Indicated resource of 94.71 Mtons at 0.27% TCu significantly contributes to the project's overall resource, providing a good level of confidence for ongoing development. - Positive factor: Substantial Indicated resource base for the Yerington Deposit - Positive factor: Reasonable confidence for future studies #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-15) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:ba105102cfcbce3b11a4 - Deposit or zone: Yerington Deposit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 33347000 - Grade: 0.18 - Grade Unit: % - Contained Metal: 122221000 - Contained Unit: lbs - Cutoff Grade: 0.038 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred Oxide resource of 33.35 Mtons at 0.18% TCu provides exploration upside but has lower confidence and cannot be used for economic studies alone. - Negative factor: Inferred category indicates lower geological confidence #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-16) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:d13958ba90c61bb0cb15 - Deposit or zone: Yerington Deposit - Material type: sulphide #### Resource Data - Category: inferred - Tonnes: 79881000 - Grade: 0.24 - Grade Unit: % - Contained Metal: 385938000 - Contained Unit: lbs - Cutoff Grade: 0.126 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred Sulfide resource of 79.88 Mtons at 0.24% TCu represents a significant target for future drilling to upgrade its confidence, especially with the Nuton processing technology. - Positive factor: Large Inferred Sulfide resource provides future potential - Negative factor: Inferred category indicates lower geological confidence #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-17) Yerington Deposit · copper #### Identity - Project: Yerington Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-05-01T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:4810adf30f584a131393 - Deposit or zone: Yerington Deposit #### Resource Data - Category: inferred - Tonnes: 113229000 - Grade: 0.22 - Grade Unit: % - Contained Metal: 508159000 - Contained Unit: lbs #### Prior Estimate - Resource Date: 2023-05-01 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The total Inferred resource of 113.23 Mtons at 0.22% TCu represents a substantial exploration target, but its speculative nature means it cannot be directly incorporated into current economic studies. - Positive factor: Significant total Inferred resource for the Yerington Deposit - Negative factor: Inferred category limits current economic applicability #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-18) W-3 Stockpile · copper #### Identity - Project: W-3 Stockpile - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:03df0024390684262115 - Deposit or zone: W-3 Stockpile - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 14100000 - Grade: 0.11 - Grade Unit: % - Contained Metal: 30571000 - Contained Unit: lbs - Cutoff Grade: 0.04 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-07-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred resource in the W-3 Stockpile represents potential value from historical operations, but its low grade and inferred classification mean it requires further evaluation. - Positive factor: Identified resource in existing stockpile - Negative factor: Inferred category indicates lower confidence - Negative factor: Low grade for oxide material #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-19) Vat-Leached Tailings · copper #### Identity - Project: Vat-Leached Tailings - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2023-07-31T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Tim Maunula - Resource group id: resource:1c28648435fde7a91ef9 - Deposit or zone: Vat-Leached Tailings - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 33160000 - Grade: 0.09 - Grade Unit: % - Contained Metal: 62622000 - Contained Unit: lbs - Cutoff Grade: 0.04 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2023-07-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred resource in the Vat-Leached Tailings represents potential value from historical processing, but its very low grade and inferred classification require significant de-risking. - Positive factor: Identified resource in existing tailings - Negative factor: Inferred category indicates lower confidence - Negative factor: Very low grade for oxide material #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-20) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:1b70c3932e75b9dba38a - Deposit or zone: MacArthur Deposit #### Resource Data - Category: measured - Tonnes: 116666000 - Grade: 0.18 - Grade Unit: % - Contained Metal: 420929000 - Contained Unit: lbs #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Measured resource of 116.67 Mtons at 0.18% TCu for MacArthur is substantial but is historical, reducing its novelty and requiring an update for current project evaluation. - Positive factor: Large Measured resource base for MacArthur Deposit - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-21) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:a0206d0890bf76690694 - Deposit or zone: MacArthur Deposit #### Resource Data - Category: indicated - Tonnes: 183665000 - Grade: 0.158 - Grade Unit: % - Contained Metal: 579479000 - Contained Unit: lbs #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Indicated resource of 183.67 Mtons at 0.158% TCu for MacArthur is substantial but is historical, reducing its novelty and requiring an update for current project evaluation. - Positive factor: Large Indicated resource base for MacArthur Deposit - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-22) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:3a7c3d15fa437600ff62 - Deposit or zone: MacArthur Deposit #### Resource Data - Category: inferred - Tonnes: 156450000 - Grade: 0.151 - Grade Unit: % - Contained Metal: 471714000 - Contained Unit: lbs #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred resource of 156.45 Mtons at 0.151% TCu for MacArthur is a large exploration target, but its historical nature and inferred classification reduce its current utility for economic studies. - Positive factor: Significant Inferred resource base for MacArthur Deposit - Negative factor: Estimate is historical, effective date is over two years old - Negative factor: Inferred category indicates lower confidence #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-23) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:4e0ceb0065649646e4b8 - Deposit or zone: MacArthur #### Resource Data - Category: measured - Tonnes: 82983000 - Grade: 0.184 - Grade Unit: % - Contained Metal: 305303000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Measured resource for the MacArthur domain is a significant, high-confidence component, but its historical nature means it needs to be updated for current project planning. - Positive factor: Large Measured resource for the MacArthur domain - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-24) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:950195ca39912fca10c8 - Deposit or zone: North Ridge #### Resource Data - Category: measured - Tonnes: 25149000 - Grade: 0.176 - Grade Unit: % - Contained Metal: 88507000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Measured resource for the North Ridge domain is a high-confidence component, but its historical nature means it needs to be updated for current project planning. - Positive factor: Measured resource for the North Ridge domain - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-25) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:4dd114fb4af5f4e2d5a5 - Deposit or zone: Gallagher #### Resource Data - Category: measured - Tonnes: 8534000 - Grade: 0.159 - Grade Unit: % - Contained Metal: 27119000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Measured resource for the Gallagher domain is a high-confidence component, but its historical nature means it needs to be updated for current project planning. - Positive factor: Measured resource for the Gallagher domain - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-26) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:4aaffcbd4a5755a82b31 - Deposit or zone: MacArthur #### Resource Data - Category: indicated - Tonnes: 77171000 - Grade: 0.151 - Grade Unit: % - Contained Metal: 233446000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Indicated resource for the MacArthur domain is a significant component, but its historical nature means it needs to be updated for current project planning. - Positive factor: Large Indicated resource for the MacArthur domain - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-27) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:cdf01abd78a7143fe7d0 - Deposit or zone: North Ridge #### Resource Data - Category: indicated - Tonnes: 78305000 - Grade: 0.166 - Grade Unit: % - Contained Metal: 259558000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Indicated resource for the North Ridge domain is a significant component, but its historical nature means it needs to be updated for current project planning. - Positive factor: Large Indicated resource for the North Ridge domain - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-28) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:374381f03c7d2a858a2b - Deposit or zone: Gallagher #### Resource Data - Category: indicated - Tonnes: 28189000 - Grade: 0.153 - Grade Unit: % - Contained Metal: 86475000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Indicated resource for the Gallagher domain is a component of the overall resource, but its historical nature means it needs to be updated for current project planning. - Positive factor: Indicated resource for the Gallagher domain - Negative factor: Estimate is historical, effective date is over two years old #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-29) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:13a8b623b0f40ca6b3f1 - Deposit or zone: MacArthur #### Resource Data - Category: inferred - Tonnes: 30815000 - Grade: 0.158 - Grade Unit: % - Contained Metal: 97490000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred resource for the MacArthur domain is a significant target, but its historical nature and inferred classification reduce its current utility for economic studies. - Positive factor: Inferred resource for the MacArthur domain - Negative factor: Estimate is historical, effective date is over two years old - Negative factor: Inferred category indicates lower confidence #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-30) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:f1058330e8ab94caf68a - Deposit or zone: North Ridge #### Resource Data - Category: inferred - Tonnes: 62593000 - Grade: 0.154 - Grade Unit: % - Contained Metal: 192187000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred resource for the North Ridge domain is a significant target, but its historical nature and inferred classification reduce its current utility for economic studies. - Positive factor: Large Inferred resource for the North Ridge domain - Negative factor: Estimate is historical, effective date is over two years old - Negative factor: Inferred category indicates lower confidence #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-resource-facts-31) MacArthur Deposit · copper Historical result Needs review: historical\_restatement #### Identity - Project: MacArthur Deposit - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Resource scope - Estimate type: resource - Effective date: 2022-02-25T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: Herb Welhener - Resource group id: resource:9713386636d51af03b94 - Deposit or zone: Gallagher #### Resource Data - Category: inferred - Tonnes: 63042000 - Grade: 0.144 - Grade Unit: % - Contained Metal: 182037000 - Contained Unit: lbs - Cutoff Grade: 0.06 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2022-02-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-02-25T00:00:00.000Z #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: The Inferred resource for the Gallagher domain is a significant target, but its historical nature and inferred classification reduce its current utility for economic studies. - Positive factor: Significant Inferred resource for the Gallagher domain - Negative factor: Estimate is historical, effective date is over two years old - Negative factor: Inferred category indicates lower confidence #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## Metallurgical Results (7) ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-2) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach - Sample: MacArthur Oxide #### Recovery - Recovery: 82 % - Recovery Basis: actual\_test #### Reagents - Reagent Notes: Sized to 6" minus ROM #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: An 82% recovery for MacArthur Oxide material via heap leach is a strong result, indicating efficient extraction for this ore type. - Positive factor: High recovery for oxide material via heap leach #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 82% is at or above the exceptional band \(80%\) ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-3) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach - Sample: Gallagher Oxide #### Recovery - Recovery: 54 % - Recovery Basis: actual\_test #### Reagents - Reagent Notes: Sized to 6" minus #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: A 54% recovery for Gallagher Oxide material is low for a heap leach process, suggesting potential challenges or lower amenability for this specific domain. - Negative factor: Recovery is below the weak band for heap leach oxide copper #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-4) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach - Sample: North Area Oxide #### Recovery - Recovery: 53 % - Recovery Basis: actual\_test #### Reagents - Reagent Notes: Sized to 6" minus #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: A 53% recovery for North Area Oxide material is low for a heap leach process, similar to Gallagher, indicating potential processing challenges for this domain. - Negative factor: Recovery is below the weak band for heap leach oxide copper #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-5) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach - Sample: Yerington Oxide #### Recovery - Recovery: 70 % - Recovery Basis: actual\_test #### Reagents - Reagent Notes: ROM #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: A 70% recovery for Yerington Oxide material via ROM heap leach is a moderate result, indicating reasonable amenability to this processing method. - Positive factor: Recovery is within the moderate band for heap leach oxide copper #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-6) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach - Sample: W3 Oxide #### Recovery - Recovery: 68 % - Recovery Basis: actual\_test #### Reagents - Reagent Notes: ROM #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: A 68% recovery for W3 Oxide material via ROM heap leach is a moderate result, indicating reasonable amenability to this processing method. - Positive factor: Recovery is within the moderate band for heap leach oxide copper #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-7) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: heap leach - Sample: VLT Oxide #### Recovery - Recovery: 75 % - Recovery Basis: actual\_test #### Reagents - Reagent Notes: ROM #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: A 75% recovery for VLT Oxide material via ROM heap leach is a strong result, indicating good amenability to this processing method. - Positive factor: Recovery is strong for heap leach oxide copper #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### heap leach [Link to this fact](https://atlas-extractions.minestarters.com/news/lion-copper-and-gold-corp-announces-positive-pea-results-for-its-yerington-nevad--d088979e-66ed-493b-a1f5-ec786778a23c#fact-metallurgical-facts-8) Yerington Copper Project · copper #### Identity - Project: Yerington Copper Project - Commodity: copper - Region: usa\_nv - Reported Region: Nevada - Ticker: LEO #### Test Work - Program Status: preliminary - Test Type: heap leach - Processing Route: Tertiary Crushed Agglomerated Conveyor Stacked: Nuton Process - Sample: Yerington Sulfide-Nuton #### Recovery - Recovery: 74 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2024-01-30T00:00:00.000Z Reasoning: A 74% recovery for sulfide material using the Nuton process is a strong and novel result, as it enables heap leaching of sulfides, which traditionally require more complex processing. This is a key de-risking factor for the project. - Positive factor: Strong recovery for sulfide material using innovative Nuton technology - Positive factor: Nuton process eliminates need for concentrator and tailings impoundment - Negative factor: Test work remains ongoing and subject to refinement #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.