Lion Rock Completes Phase 1 Drill Program at Volney Project, South Dakota

22.01.2026  |  Newsfile

Vancouver, January 22, 2026 - Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB) (OTCQB: LRRIF) (the "Company") is pleased to provide an update on its exploration activities at the Volney Project, located in the historic Black Hills mining district of South Dakota, USA. Phase 1 of the Company's multi-phase exploration drill program at the Volney Project is now complete, following the completion of 15 drill holes.

News Highlights

• Phase 1 Drilling Completed - 3,600 m across 15 drillholes: The Company completed approximately 3,600 metres of diamond drilling in 15 drillholes targeting both interpreted gold-bearing horizons and lithium-bearing pegmatites along the Volney trend, including areas near the historic Giant Volney, Rusty, and Rough & Ready mines (Figure 1). Of the holes completed to date, five have targeted lithium-bearing pegmatites, five have targeted gold-bearing structures, and five have targeted both lithium and gold mineralization (Table 1). This program represents the first modern drill testing along the Volney trend.

• Multiple Mineralized and Altered Shear Zones Successfully Intersected: Drilling has encountered multiple sulphide-bearing shear intervals of various lengths with associated quartz veining and silicification hosted in altered mafic volcanics and metasedimentary rocks. These altered and mineralized horizons have been encountered throughout the entire drilled strike length so far. Drill core displays similar characteristics with auriferous units previously mapped and sampled at surface, where grab samples returned up to 14.0 g/t Au (see Lion Rock news release dated May 28, 2025).

• Spodumene-bearing Pegmatite Intersected: Spodumene has been identified in multiple pegmatite intercepts in the Giant Volney and Rough & Ready mine areas. Drillhole VOL25-009 intercepted two spodumene-bearing pegmatite zones from 48.3 to 76.9 m and from 103.5 to 120.3 m. These pegmatites occur near areas of previous surface sampling that returned up to 3.6% Li₂O and are consistent with mapped pegmatite system in the Volney target area (see Lion Rock news release dated May 13, 2025). Cassiterite and tantalite have also been observed in drill core.

• Assays Pending: Core processing and sampling for the final drillholes is complete with samples shipped to SGS in Denver, Colorado for analysis. Assay results will be reported as they become available.

Dale Ginn, President and CEO of Lion Rock, stated, "The successful completion of Phase 1 represents an important milestone for the Volney Project. This inaugural program has efficiently tested a combination of gold-bearing structures and lithium-bearing pegmatites, highlighting Volney's potential as a multi-commodity system with relevance to both precious metals and critical minerals. While gold and lithium were the primary targets of this program, the project also hosts historic tin production and is highly prospective for tantalum. With core processing nearing completion and assays expected in the coming days and weeks, we look forward to finalizing and advancing an expanded Phase 2 drill program as results are received and interpreted."

Figure 1. Plan map showing completed drillholes as part of the Phase 1 drill program at the Volney Project, South Dakota.

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Table 1. Drilling Completed to Date

About the Volney Project

The Volney property is a multi-commodity project strategically located in South Dakota's Black Hills, a historically rich and active mining region (Figure 2). The Homestake Mine in the Black Hills produced more than 40 million ounces of gold, making it one of the most significant gold producers in North American history.¹ The Volney Project is home to the Giant Volney pegmatite, a 635 m long LCT (Lithium-Cesium-Tantalum) pegmatite which remains untested at depth. The district continues to attract modern exploration efforts, with companies such as Dakota Gold Corp. actively advancing projects within the Black Hills. The project is accessible year-round and consists of private claims with surface and mineral rights, which facilitates rapid permitting and project advancement.

Figure 2. Volney Project regional map in the Black Hills, South Dakota.

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The technical content of this news release has been reviewed and approved by Carl Ginn, P.Geo., consultant to the Company and a Qualified Person pursuant to National Instrument 43-101.

About Lion Rock Resources Inc.

Lion Rock Resources Inc. is a Canadian mineral exploration company committed to advancing high-grade gold and lithium projects across North America. The Company's flagship asset, the Volney Project, is located in South Dakota's Black Hills, a mining-friendly jurisdiction surrounded by active gold operations. The Company is led by an award-winning team with a proven track record of mineral discoveries, project development, and financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", "potential", "indicative" and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Such forward-looking information is based on the current expectations of management of the Company. The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of risks and uncertainties, including without limitation risks and uncertainties inherent in the exploration and development of mineral properties, fluctuations in commodity prices, counterparty risk, market conditions, regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. In making the forward-looking statements in this press release, the Company has applied several material assumptions. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

¹James Norton, 1974, Gold in the Black Hills, South Dakota, and how new deposits might be found, USGS Publications Warehouse

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