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LION COPPER & GOLD CORP.

For the period ended Feb 13, 2026. Filed Feb 18, 2026.

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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Feb 13, 2026 · Filed Feb 18, 2026

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LCU$4.20-4.3%Stored close · as of Nov 6, 2026
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Contents

EX-99.1 · 16.3 FORWARD

16.3 FORWARD

Table 16.1: Copper Price Forecasting
2024e2025f2026f2027f2028f2029f2030f
Supply (tons)24,63725,29026,40327,13627,46528,24928,860
Demand (tons)24,36325,03525,93626,78827,55928,12328,599
Refined balance (tons)274255467348-94126261
LME 3M price ($/ton)8,4078,5228,3518,3138,5559,0199,242
LME 3M price ($/lb)4.204.264.184.164.284.514.62

As of July 31, 2025. e = estimate; f = forecast; LME = London Metal Exchange; Moz = million ounces. Sources: S&P Global Commodity Insights; London Stock Exchange Group

Applying this historically dominant blend produces a reference level that is above US $4.30 per lb., while the third-party forward outlook aligning with the project execution timeline sits at or above the US $4.30 per lb. level. Selecting US $4.30 per lb. therefore represents a reasonable base-case input for a prefeasibility study analysis and is consistent with the requirement to justify principal assumptions using both historical information and an independent external view.

This section contains forward-looking information based on assumptions, including the copper price assumption stated above. Actual results may differ due to risks and uncertainties described elsewhere in this report and in the issuer's continuous disclosure

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