LION COPPER & GOLD CORP.

Process Description Summary

Copper will be extracted through a heap leach process, followed by SX/EW. Ore will originate from multiple sources which will be stacked and processed on three separate leach pads with two SX circuits. The sulfide and oxide ore from the Yerington open pit will be distributed onto separate heap leach pads but will share an SX circuit. The MacArthur open pits will have one heap leach pad and one SX circuit. There will be a single EW facility for the project co-located with the Yerington SX system.

The Yerington Oxide Heap Leach Facility (HLF) will be ROM truck dumped with a peak placement rate of 83,000 short tons per day (tpd) of new oxide ore and residual stockpiled ore. The crushing, conveying, agglomeration and ore stacking at the Yerington Sulfide HLF is designed for 114,000 tpd to process the peak sulfide ore placement rate of 94,000 tpd. The MacArthur HLF will also be ROM truck dump with a peak placement rate of 142,000 tpd.

The Yerington solvent extraction (SX) systems will handle up to 30,000 gallons per minute (gpm) of pregnant leach solution (PLS). MacArthur's SX system will be designed to process up to 22,000 gpm of PLS. The shared electrowinning (EW) circuit will process electrolyte from both Yerington and MacArthur with the ability to produce up to 90,000 tons per year of refined copper cathode.

The planned mine life is 12 years, with SX/EW to be in operation for 14 years with the acid plants to be in operation for their life cycle of 19 years. Sulfuric acid production that exceeds project requirements will be sold into the domestic market. The combined copper recovery is expected to be 67.4%.