Lion Rock Minerals (LRM) Investor presentation summary

Project overview and scale

• Minta Monazite & Rutile Project covers 8,600km² in Cameroon, with 5,000km² showing rutile prospectivity.

• Project benefits from direct access to road, rail, ports, and hydropower infrastructure.

• Cameroon is politically stable, mining-friendly, and underexplored, with a modern mining code and strong government support.

• The project is fully funded for exploration through 2026, supported by a veteran team with in-country expertise.

Exploration results and mineralisation

• Over 750 holes drilled in a 12-month reconnaissance program, averaging 0.8% rutile, with up to 2.2% insitu rutile.

• 75% of locations intersected significant rutile; mineralised zone now spans 5,000km².

• Minta Est prospect hosts high-value monazite and zircon alongside rutile, with assemblages up to 73.7% monazite and 40.1% rutile.

• Oversize rutile nuggets, unique to Minta, are easily processable and can significantly increase rutile grades.

Rare earths and value proposition

• Minta Est features high-grade monazite with heavy rare earths, including NdPr up to 22.5% and DyTb up to 2.7%.

• Monazite and xenotime targeting underway, with a strong heavy rare earth element profile and premium pricing potential.

• Monazite valued at $7,000/tonne, rutile at $1,500/tonne, and zircon at $1,800/tonne.