North Vancouver, British Columbia--(Newsfile Corp. - October 16, 2017) - Lion One Metals Limited (TSX-V: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSE: LY1) (the "Company") is pleased to announce that its ongoing diamond drilling program has returned further high grade gold intersections at its 100% owned and fully permitted high grade underground Tuvatu Gold Project located near Nadi on the island of Viti Levu in the Republic of Fiji.

Recent Drill Highlights¹

• Drill results continue to expand the HT Corridor mineralisation with wider (up to ~8 meters true width) and high-grade intersections

• 11 meters averaging 9.1g/t gold from 80.8 meters including:

  • 5.2 meters averaging 15.3g/t gold

• 4.8 meters averaging 20.3g/t gold from 21.5 meters including:

  • 1.8 meters averaging 51.8g/t gold

• 4.5 meters averaging 7.1g/t gold from 214.5 meters including:

  • 1.8 meters averaging 15.0g/t gold

• Mineralisation extends from surface and in close proximity to current decline with potential to add to the initial early mine-plan

Current Drill Program
Drill results have been received from a further three diamond drill holes (TUDDH463, 467 and 469) completed on extensions to the Tuvatu Gold Project. These drill holes targeted the individual mineralised lodes within the recently recognised and potentially significant HT Corridor mineralisation. Please refer to Figures 1 and 2, and Tables 1, 2 and 3 for drill hole details.

HT Corridor Mineralisation: a zone of growing significance
The previous resource estimate for Tuvatu included generally lower grade mineralisation in lodes named T1, T2, H1 and H2 and as announced in the NI43-101 resource estimate on 4 June 2014. Prompted by a reinterpretation and the recognition of high-grade mineralisation at surface, the Company returned to this area for further drilling in 2017. Other results from this current program have included 2.77 meters averaging 35.08g/t, 3.4 meters averaging 23.2g/t gold and refer to releases dated 22 August 2017 and 15 September 2017 for further details.

Figure 1: Tuvatu Gold Project
2016/7 Diamond Drilling Program with Current Drilling Target Area