Lion Rock Minerals (LRM) Q4 2025 TU earnings summary

Executive summary

• Confirmed expansion of heavy mineral (HM) mineralisation at the Minta Rutile Project, with a 100% success rate in all reported drill holes and mineralisation now extending across 1,500km².

• XRD analysis shows over 93% of TiO2 is from rutile, confirming rutile-dominant mineralogy at Minta.

• High-value rare earth-rich monazite assemblages confirmed at Minta Est, with in-situ grades of 0.5%–1.2% TREO from free-dig material.

• Strategic investment of $3.5 million by a European investor at a multi-year high issue price, with a 12-month escrow, fully funding the 2025 exploration program.

Financial highlights

• $929k spent on project and exploration activities during the quarter, mainly on the Minta Rutile Project.

• Net cash used in operating activities for the quarter was $1.21 million; cash and cash equivalents at quarter end were $934k.

• $222k raised from equity securities during the quarter, with $3.5 million received post quarter-end from the strategic placement.

Outlook and guidance

• Fully funded for the 2025 exploration program following the $3.5 million placement.

• Proceeds from the placement will accelerate exploration at Minta, including targeted infill and ongoing reconnaissance drilling and development of in-country testing facilities.

• Company expects to continue operations and meet business objectives based on secured funding.