North Vancouver, British Columbia--(Newsfile Corp. - March 5, 2018) - Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSX: LY1) (the "Company") is pleased to provide the following development update on engineering and construction activities at its 100% owned and fully permitted high grade Tuvatu Gold Project, located on the island of Viti Levu in the Republic of Fiji.

Bulk earthworks are progressing in all plant site areas. Clearing and grubbing are substantially complete. Two rock crushing plants are now in operation for the production of gabion wall rock and engineered fill for construction of the plant facility platforms. Construction of the Company's assay laboratory commences this month in Nadi. All long lead laboratory equipment have been purchased. The local assay lab will expedite turnaround times for both exploration and grade control assays.

Detail engineering continues on the process plant, infrastructure and tailings storage facility. Design of two new bridge crossings over major creeks near Tuvatu is now complete with bridge construction to begin immediately after abatement of wet season high water flows. The Company continues metallurgical test work on high pH leach pretreatment methods to improve gold recovery.

The Company is nearing contract awards for its prime mining contractor, equipment suppliers, and EPC contractor. The Company plans to use both new and refurbished equipment for underground mining. The mining equipment fleet will include single and twin-boom jumbos, load/haul/dump vehicles, haul trucks, a grader, and personnel carriers. A new senior mining engineer will be appointed shortly for ongoing mine planning, design and mining contractor management. He will be responsible for mining and stockpiling ahead of process plant construction.

Lion One's Chief Development Officer Ian Chang stated, "We're aggressively advancing to production and have progressed significantly in recent months on preparation of the mill site and infrastructure. We remain focused on delivering Fiji's next high grade underground gold mining operation while continuing to qualify the upside of Tuvatu's district scale exploration opportunity"

Qualified Person

Ian Chang, M.A.Sc., P. Eng., Lion One's Chief Development Officer, is the Qualified Person ("QP") responsible for Tuvatu Mine development and has prepared, reviewed, and approved the content of this news release.

About Tuvatu

Tuvatu is a fully permitted high grade underground gold project located in the South Pacific island Republic of Fiji, 17 km NE of the Nadi International Airport on Fiji's main island of Viti Levu. Tuvatu is a low sulphidation epithermal gold deposit hosted in the eroded remnants of the Navilawa mineral system, one of Fiji's largest mineralized volcanic intrusive complexes. The independent Tuvatu NI 43-101 PEA technical report dated June 1, 2015 envisages a low cost underground gold mining operation producing 352,931 ounces of gold over 7 years at head grades of 11.30 g/t Au, and cash costs of US$567 per ounce with all-in sustaining cost of US$779 per ounce. The Company has not based a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability and as a result there is increased uncertainty and economic and technical risks associated. Tuvatu has been fully permitted by the Government of Fiji for operations start-up and has a dual-track strategy of exploration and development inside its mining lease and surrounding exploration license areas.

Figure 1: Aerial View of Tuvatu Plant Site: Bulk Earthworks Construction Underway

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/33298_a1520204438977_96.jpg

Additional information including NI 43-101 Technical Reports for the Tuvatu Gold Project is available at www.liononemetals.com and at www.sedar.com.

About Lion One

Lion One Metals Limited is a mineral exploration and development company based in North Vancouver, BC, focused on advancing to production at its 100% owned and fully permitted high grade underground Tuvatu Gold Project located on the island of Viti Levu in the Republic of Fiji. Lion One's CEO Walter Berukoff is leading an experienced team of mine builders, and has owned or operated over 20 mines in 7 countries.  As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

Lion One is aggressively advancing Tuvatu as a near-term production opportunity with exploration upside in the southwest Pacific Ring of Fire. Lion One has modelled Tuvatu for exploration after regional giants in the low sulphidation family of high grade epithermal gold deposits such as Porgera and Lihir in Papua New Guinea, and Vatukoula in Fiji, which boast production of over 35 million ounces of gold in similar alkaline volcanic settings.

On behalf of Lion One Metals Limited

"Walter H. Berukoff"
Chief Executive Officer

For further information please contact:

Stephen Mann, Managing Director (Perth, Australia) Tel: 604-973-3007
Hamish Greig, Vice President (North Vancouver, BC) Tel: 604-973-3008
Joe Gray, Investor Relations (North Vancouver, BC) Tel: 604-973-3004
Toll Free IR Line (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.