LION COPPER & GOLD CORP.

22.3 MINING

Mineral resources were converted to reserves for use in the Yerington Copper Project. These include reserves from various areas of the Project, including the Yerington deposit, VLT stockpile, and the MacArthur deposits (MacArthur, Gallagher, and North Ridge). Open pit mining offers the most reasonable approach for development of the deposits based on the size of the resource, tenor of the grade, grade distribution and proximity to topography for the deposits.

The mine schedule for open pit mining totals 506.6 Mt of Proven and Probable heap leach feed grading 0.21% copper over a mine life of 12 years. Open pit waste tonnages from the various areas total 159.8 Mt and will be placed into waste storage areas adjacent to the open pits. The overall open pit strip ratio is 0.32:1 (waste: feed).

Three heap leach facilities will provide copper solution for the SX-EW facility. One process stream will utilize the Nuton Technology for the leaching of sulfide feed from the Yerington pit. The other process stream will employ conventional oxide copper leaching technology for the run-of-mine (ROM) feed from the MacArthur pits, Yerington oxide, and VLT stockpile. The Nuton facility will have a peak feed rate of 34 Mtpa through a crushing plant. The Yerington pit is the only supply of sulfide material for the PFS.

The current mine plan includes minimal prestripping as the bottom of the existing Yerington and MacArthur pits still contains material suitable for placement on an HLF with conventional leaching and using the Nuton process for the sulfide materials. Mining starts in the MacArthur pit, immediately providing ore for the heap facility. Mining starts in the Yerington pit in waste in Year 2 to advance mining, but as the water level in the Yerington pit recedes, ore is also immediately available. This is expected in Year 3.