Lion Rock Expands Critical Minerals Strike; Continues 100% Drill Hit Rate at Volney, South Dakota

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2026) - Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB) (OTCQB: LRRIF) (the "Company") is pleased to announce the remaining results of the 15-hole, Phase One drill program at the Volney Project in South Dakota. The final six holes, which hit mineralization over significant widths, have successfully expanded the critical minerals strike to 300 m long, up to 100 m wide, and 150 m deep. The system features high-grade lithium, tin and tantalum hosted within spodumene-bearing LCT (Lithium-Cesium-Tantalum) pegmatites, the primary global source of hard rock lithium. Mineralization starts at surface and the strike is open in every direction. Of note, the strike has been established by drill testing only one of many, surface exposed LCT pegmatite targets at Volney.

Phase One Drill Program Highlights

• Volney's Critical Mineral System is Primed for the US Market: The US is import reliant for lithium (>50%), tin (77%), and tantalum (100%). [1]
• Large Strike and Open in All Directions: All critical mineral holes from Phase One hit mineralization, establishing a strike measuring 300 m long, up to 100 m wide, and 150 m deep (Figure 1).
• High-Grade Lithium: Intercepts include 2.3% Li₂O over 5.7 m in 1.6% Li₂O over 10.6 m (VOL25-007), and 2.2% Li₂O over 1.3 m in 1.5% Li₂O over 10.3 m (VOL25-005) (Table 1). Mineralization is confirmed at depth across multiple holes in the Rough and Ready zone (Figure 3).
• High-Grade Tantalum: Intercepts include 788 ppm Ta₂O₅ over 5.89 m (VOL25-010) and 727 ppm Ta₂O₅ over 10.48 m (VOL25-013).
• Commercial Grade Tin: Intercepts include 0.3% Sn over 3.0 m in 0.1% Sn over 28.3 m (VOL25-006). Grade peak of 1.0% Sn over 0.5 m (VOL25-012) was encountered.
• Near-Surface, Bulk-Tonnage Potential: The laterally continuous pegmatite geometry suggests potential for low-cost, open-pit extraction methods.
• Past Producing Project with Existing Infrastructure: Volney benefits from excellent infrastructure, including grid power, all-season road access, and proximity to rail. The Project is strategically positioned to become a secure source of lithium, tin, and tantalum to the United States.
• Multiple High Priority Mineralized LCT Pegmatite Targets Remain: Phase One drilling focused on a single pegmatite zone at Volney. Interpretation of drill results, supported by recent surface sampling, has confirmed additional mineralized pegmatite targets along strike and across the broader system, confirming potential for multiple zones across the property (Figure 2).
• Phase 2 Drill Program: Planning for an expanded Phase Two drill program is underway and will include aggressive step-out drilling, in addition to testing high-priority, surface-exposed mineralized LCT pegmatite targets across the property.

Dale Ginn, President and CEO of Lion Rock, stated, "Our inaugural drill program at the past-producing Volney project has been a tremendous success. In addition to our recently announced gold discovery, we have now confirmed the presence of a large, strongly mineralized lithium-tin-tantalum system on the very same property. It is important to note that all three commodities in this system sit on the US critical minerals list and occur on private mineral claims.

The mineralized strike, which includes high-grade mineralization over strong widths, stretches 300 m and remains open in every direction. Of particular importance, all of this was achieved by drill testing just one of the numerous pegmatite targets at Volney. Our team is now hard at work planning a follow up program that will include aggressive step outs and targeting of other pegmatites across the property."

Figure 1. Plan map of the 2025 drill program highlighting lithium and tin mineralized intervals within pegmatites projected to surface at the Volney Project. Complete drill holes are shown with highlighted intercepts, and surface samples returning >2% Li₂O are indicated. The distribution of mineralization defines a coherent trend that remains open along strike and at depth

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Figure 2. Overview map of the Volney Project, South Dakota, highlighting the interpreted LCT pegmatite trend and extent of lithium and tin mineralization defined by the 2025 drill program. The mineralized system extends for approximately 500 m by 800 m and remains open along strike.

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Figure 3. 3D cross-section of the Rough and Ready zone at the Volney Project looking northwest, showing Li₂O (purple) and Sn (green) mineralized intervals from the 2025 drill program. Select intercepts include 10.5 m of 0.3% Li₂O, 6 m of 0.6% Li₂O, and 5.5 m of 0.3% Sn. Mineralization remains open at depth and along strike.

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Table 1. Selected drill results highlighting Lithium, Tin and Tantalum mineralization from the 2025 drill program at the Volney Project. Highlighted results have been previously reported in the companies February 26, 2026, news release.

Note: Reported intervals are downhole lengths. True widths are unknown. Reported grades are uncut and no capping has been applied. Analytical methods and QA/QC protocols are described below.

Quality Assurance / Quality Control (QA/QC)

The QA/QC protocol on the Volney property has been designed to follow industry best practices. Certified reference material and blank material were inserted at a rate of approximately 4% each. In addition, pulp and coarse duplicates were collected for approximately 10% of samples to assess consistency in mineralization and laboratory analysis.

All drill core samples were submitted to SGS Laboratories in Denver, Colorado, an independent and ISO/IEC 17025-accredited facility, for sample preparation. Samples were dried at 105°C, crushed to 75% passing 2 mm, riffle split into a representative sample and a 500 g coarse reject, then pulverized to 85% passing 75 microns. Samples prospective for lithium mineralization were submitted for 57-element sodium peroxide fusion ICP-AES/ICP-MS analysis (GE_ICM91A50). Gold prospective samples were analysed using 30 g fire assay with atomic absorption spectrometry finish (GE_FAA30V5) and 0.25 g 33-element analysis by four-acid digest with an atomic emission spectroscopy finish (GE_ICP40Q12). Analysis was conducted at SGS Canada's Burnaby facility.

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

About Lion Rock Resources Inc.

Lion Rock Resources Inc. is advancing the high-grade gold and lithium-tin-tantalum project of Volney, South Dakota. Volney is a past-producing asset located in a mining-friendly jurisdiction and surrounded by active gold operations. The Company is led by an award-winning team with a proven track record of mineral discoveries, project development, and financing.

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

Caution Regarding Forward-Looking Information

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

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