Lion Copper Corp. · CSE:LCU
Lion Copper — Investor Presentation (October 2026)
21 slides from Lion Copper's investor presentation, October 2026
Slide 1: Building a Tier-1 Copper District
Building a Tier-1 Copper District Advancing Our Flagship Project Lion Copper Corp. Presentation | October 2026 NASDAQ | CSE : LCU
Slide 2: Cautionary Statements and Technical Disclosures
Cautionary Statements and Technical Disclosures General Disclaimer This presentation has been prepared by Lion Copper Corp. (the “Company”) for informational purposes only and should be read in conjunction with the Company's continuous disclosure documents filed with applicable securities regulatory
Slide 3: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Information This presentation contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation and applicable United States securities laws,
Slide 4: Lion Copper Team: Board of Directors
Lion Copper Team: BOARD OF DIRECTORS An experienced team united by cross-industry expertise, fiscal discipline, and a commitment to shareholder value. Tom Patton Rick Scruggs Co-Chairman of the Board Director Mr. Patton is the former President and COO of Western Silver Mr. Scruggs is a seasoned fina
Slide 5: Lion Copper Team: Management with Experience & Vision
Lion Copper Team: MANAGEMENT WITH EXPERIENCE & VISION Decades of experience in the industry and a commitment to progress with integrity John Banning, QP – MMSA Todd Bonsall, QP - MMSA Doug Stiles, QP - MMSA Chief Executive Officer & Director Manager - Geology & Project Operations Senior Advisor Mr.
Slide 6: One of North America's Largest Undeveloped Copper Resources
One of North America's Largest Undeveloped Copper Resources District-scale platform Short through long-term value exposure across district spanning generational Partnered DFS & Permitting: Yerington Copper Project Advancing copper potential Maiden MRE for significant Bear Deposit Infrastructure-rich
Slide 7: Yerington Tier-1 Copper District
Yerington Tier-1 Copper District Substantial reserve base with newly established district-scale opportunities District advantages • Infrastructure-rich, mining-friendly district • Early-stage and developing nearby projects present consolidation opportunities • Shared facilities could service multipl
Slide 8: Yerington Copper Project, Nevada USA
Yerington Copper Project, Nevada USA FLAGSHIP ADVANCEMENT ANCHORING SCALABLE GROWTH OPTIONALITY Developing a • Large-scale, brownfields open pit copper reserve with well-understood geology clear path to • Clear development pathway: advancing through technical & Domestic permitting milestones Cathode
Slide 9: Yerington Copper Project: From Planning to Action
Yerington Copper Project FROM PLANNING TO ACTION PFS Base Case ($4.30/lb Cu) After-tax NPV • 2025 PFS established a credible production blueprint US$694M* • DFS On Track: On schedule and on budget for Q1 2027 completion • Field Programs Complete: All planned hydrogeological, geotechnical, and resour
Slide 10: Flagship Project DFS and Permitting Funded
Flagship Project DFS and Permitting Funded Asymmetric Exposure • Lion Copper shareholders not funding the study phase (DFS and Permitting) • Strategic partner funds DFS and permitting (up to ~US$31M)* • Lion Copper is Project Operator and subject to final investment decision and JV formation, retain
Slide 11: Clear Permitting Path in a Tier 1 Jurisdiction
Clear Permitting Path in a Tier 1 Jurisdiction NEVADA IS 2ND ON THE GLOBAL LEADERBOARD IN THE MINING INVESTMENT ATTRACTIVENESS INDEX* • Brownfield site — Existing disturbance over much of the sites — History of mine operating permit issuance — Known permit requirements and timelines • Baseline data
Slide 12: Advantages Embedded in Project Design
Advantages Embedded in Project Design TO DELIVER ENVIRONMENTAL AND SOCIAL BENEFITS ALONGSIDE STRONG PROJECT ECONOMICS Water Land Energy Communities • Lower water intensity than • Redevelopment of • Heat recovery and • Transparency and conventional concentrator– previously disturbed electricity gener
Slide 13: Project Timeline: Milestone-Driven Value Creation
Project Timeline MILESTONE-DRIVEN VALUE CREATION* 2025 2026 2027 2028 2029 2030 H2 H1 H2 H1 H2 H1 H2 H1 H2 COMPLETED PFS COMPLETION Milestones NUTON EARN-IN NUTON EARN-IN FUNDING RECEIPT OF $30M FEASIBILITY STUDY CURRENT & ONGOING COMPLETION OF FS FIELDWORK (GEOTECH, PIEZOMETER, LOGGING, ETC) PROJEC
Slide 14: Significant Leverage to Copper Price
Yerington Copper Project: Significant Leverage to Copper Price CAPABLE OF DELIVERING VALUE ACROSS COMMODITY CYCLES * BASE COMEX CASE OCT 2026 Copper Price $4.09 $4.30 $4.52 $4.73 $4.95 $5.16 $5.38 $5.59 $5.81 $6.02 $6.24 $6.45 $6.70 NPV Pre-tax (US$ M) $802 $975 $1,148 $1,321 $1,494 $1,667 $1,840 $2
Slide 15: Bear Deposit Maiden MRE
Bear Deposit Maiden MRE THE FIRST STEP TO UNLOCK THE LONG-TERM DEVELOPMENT POTENTIAL OF YERINGTON • Contiguous with the Yerington Copper Project, expanding the 6.7B lbs district-scale copper endowment within the Yerington Copper District Contained Cu — Strengthens Yerington as a long-life domestic c
Slide 16: Bear Deposit: Contiguous to the Yerington Copper Project
Bear Deposit: Contiguous to the Yerington Copper Project STRATEGIC CATALYST FOR DISTRICT-SCALE COPPER DEVELOPMENT • Very large porphyry copper deposit on private land covering 4.25 square miles, majority controlled by Lion Copper • Lion Copper first to consolidate Bear property: combining previous d
Slide 17: Leveraged Exposure to Copper's Supercycle
Leveraged Exposure to Copper's Supercycle Yerington is positioned to produce copper in 2030 Just as the global copper supply deficit begins to widen. • Copper demand is in a significant fundamental and structural surge: PROJECTED SUPPLY* • Continued significant socio-economic shift. • Significant an
Slide 18: Share price performance
Share price performance 2025-26: SUSTAINABLE GROWTH AND PROJECT MOMENTUM Share price decoupled from copper price MARCH 2026 LCU • Geopolitical instability – market uncertainty DFS Appointments • DFS commencement announcement Mar. 10, 2026 • De-risking and development phase DFS Update Apr. 15, 2026 B
Slide 19: Pre-production USA Cathode Copper Projects
Pre-production USA Cathode Copper Projects PEER VALUE COMPARISON - COPPER RESERVE AND RESOURCE BASIS – P/NAV RATIOS M&I Excl.² Reserves¹ Reserves Inferred² Share price³ Mkt Cap³ Project / District State (Blb Cu) (Blb Cu) (Blb Cu) Company Stage P/NAV ($US) (US$) Yerington District 0.30 (Yerington PFS
Slide 20: Capital Structure
Capital Structure Cash on hand* Share Ownership* Shares Issued: 16.0M Options: (including performance options) 3.0M Warrants: 4.4M 35% $23.1 M Fully Diluted: 23.4M 65% MARKET CAP*: Management & Directors NASDAQ: LCU US$76 M Public Additional Assets* CSE: LCU CA$107M • Bear Copper Deposit • 100% Inte
Slide 21: Advancing one of America's largest undeveloped copper districts
• Advancing one of America's largest undeveloped copper districts • Disciplined project development and execution • Refined LME Grade A copper cathode for the U.S. market • Establish Lion Copper Corp. as a long- term supplier of American refined copper NASDAQ | CSE : LCU 21 NASDAQ | CSE : LCU