Each one in plain English, with the numbers worked through for a shareholder.
7 Aug 2026resource reserve update▲ Good
Following the new Bear Deposit resource, the company acquired about 183 more acres of land around the Bear project area, continuing its strategy of consolidating land control across the Yerington Copper District.
The company announced a maiden mineral resource for the Bear Deposit, adjacent to its Yerington project: 6.71 billion pounds of indicated copper and 8.77 billion pounds of inferred copper, a major expansion of its district-scale copper endowment beyond the reserve already booked at Yerington/MacArthur.
Work on the Yerington Definitive Feasibility Study moved forward on schedule: all engineering consultants engaged, an on-site kickoff workshop held, and resource, geotechnical and groundwater drilling programs underway.
The company filed its Yerington Pre-Feasibility Study in the SEC's required S-K 1300 technical-report format - the same results announced in August 2025, now in the U.S. regulatory format.
Nuton delivered the first tranche of its Stage 3 commitment, $30.5 million, to fund the Yerington Definitive Feasibility Study and permitting work, including efforts to qualify the project under the U.S. FAST-41 expedited federal permitting framework.
Nuton formally exercised its option to earn into the Yerington Copper Project and committed to Stage 3 funding of up to $31 million for a Definitive Feasibility Study and permitting, on top of the roughly $28 million it had already invested in the project's PEA and PFS.
Lion Copper and Gold's Yerington Copper Project cleared a major milestone: a completed Pre-Feasibility Study with its first-ever mineral reserve (506.5 million tons, 2.14 billion pounds of contained copper), a $694 million post-tax project value and 14.6% return - fully funded by partner Nuton, aimed at 120 million pounds/year of U.S.-refined copper cathode.
The company recapped a productive 2024: a positive Preliminary Economic Assessment combining its Yerington and MacArthur mines into one open-pit, heap-leach operation, $16.5 million received from Nuton, and new senior hires (a COO and VP Environment) - with a Pre-Feasibility Study targeted for June 2025.
Nuton LLC, Rio Tinto's copper-technology venture and the company's earn-in partner at Yerington, agreed to provide an additional $5 million under an amended earn-in agreement to keep advancing the project.