NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 29, 2016) - Lion One Metals Limited (TSX
VENTURE:LIO )(ASX:LLO)(OTCQX:LOMLF)(FRANKFURT:LY1) (the "Company") is pleased to announce it has
arranged, subject to the approval of the TSX Venture Exchange, a non-brokered private placement (the "Private
Placement") of up to 45,000,000 units (the "Units") at a price of $0.92 per Unit for total gross
proceeds of up to $41,400,000. Each Unit consists of one common share (the "Common Shares") and one common share
purchase warrant (the "Warrants"), each such Warrant exercisable at a price of $1.35 per share and expiring 18
months from the date of issue.
The expiry date of the Warrants is subject to acceleration whereby if the closing price of the Common Shares listed on the TSX
Venture Exchange is higher than $1.75 for 20 consecutive trading days then on the 20th consecutive trading day (the
"Acceleration Trigger Date") the expiry date of the Warrants may be accelerated to the date that is 30 trading
days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days
of the Acceleration Trigger Date.
Finder's fee of 5% may be payable in whole or part on the Private Placement in accordance with the policies of the TSX Venture
Exchange. The net proceeds of the Private Placement will be used to fund the exploration and development of the Company's 100%
owned and fully permitted high grade Tuvatu Gold Project, and for working capital purposes. All securities issuable pursuant to
this financing are subject to a four month hold period.
Lion One Metals Limited is a Canadian mining exploration and development company focused on the advancement
of its 100% owned and fully permitted high grade Tuvatu Gold Project in Fiji. The Company is led by Walter Berukoff, an
entrepreneur with a successful track record in various industries including real estate, finance, and mine development. As the
founder and original CEO of subsequently acquired companies such as Miramar Mining, Northern Orion Resources, and La Mancha
Resources, Mr. Berukoff has developed and operated over twenty mines in seven countries, and is credited for creating over $3
billion in shareholder value.
For more information on the Company and its projects please visit the Company's website at www.liononemetals.com or the Company profile on the SEDAR website at www.sedar.com.
On behalf of Lion One Metals Limited
Walter H. Berukoff, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulations Service Provider accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statement: This press release may contain "forward-looking information" within the
meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein
are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the
use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved.
This forward-looking information reflects Lion One Metals Limited's current beliefs and is based on information currently
available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. Such risks and other
factors may include, but are not limited to: the actual results of current research and development or operational activities;
competition; delay or failure to receive board or regulatory approvals; and changes in legislation and availability of external
financing on acceptable terms. Although Lion One Metals Limited has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking
information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.