November 2008

• Certain information contained or incorporated by reference herein, including any operating performance of Lion One Resources Inc. (“Lion One ”), constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words “projected”, “attributable”, “potential”, “will” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Lion One are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the currency markets; fluctuations in the spot and forward price of gold or certain other commodities; changes in national and local government legislation, taxation, controls, regulations and political or economic developments in Canada or other countries in which Lion One does or may carry on business in the future; business opportunities that may be presented to, or pursued by, Lion One the ability to successfully integrate acquisitions; operating or technical difficulties in connection with, mining or development activities; the speculative nature of gold exploration and development, including the risks of obtaining necessary licenses and permits; diminishing quantities or grades of reserves; adverse changes in the credit rating; and contests over title to properties. In addition, there are risks and hazards associated with the business of gold exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect the actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, Lion One . You are cautioned that forward-looking statements are not guarantees of future performance.

• This presentation uses the terms “inferred resources” and “measured & indicated resources”. Lion One advises you that these terms are recognized by Canadian securities regulations (under National Instrument 43-101 “Standards of Disclosure for Mineral Projects”). You are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a preliminary assessment as defined under NI 43-101. You are cautioned no to assume that part or all of an inferred resource exists, or is economically or legally mineable.

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Disclaimer

In the Heart of the “Pacific Rim of Fire”

Porgera (Barrick)

10 Million Ounces

Vatukoula (VGM)

11 Million Ounces

FijiTuvatu

Lihir (LGL)

41 Million OuncesOk Tedi (OTML)

14.4 Million Ounces

Macraes (Oceana Gold)

8 Million OuncesThere are many world class gold Mines on the Pacific Rim of Fire

• Prior British Colony with established common law and mining legislation

• Fiji has over 100 years of mining history and defined mining policy and laws.

• Skilled gold mining work force available in close proximity to the Tuvatu.

• The project is accessible from the main road and within 30 Km of tidewater port, international airport and 5 Km from a hydro power line.

In the Heart of the “Pacific Rim of Fire”

• To date 21 million dollars spent on project development.

• 51,484 metres of diamond drilling and 9,265 metres of RC drilling has delineated 1.65 million tonnes at 8.5 grams of resources covering less than 4% of the lease.

• Deposits remain open along strike and down dip, leaving strong potential to expand existing gold resource.

• Recent mapping and exploration along strike of the existing resources indicate significant high gold veins (Nubunidike Ridge, Hornet and Ura creek).

Tuvatu Project

Tuvatu Geology

• The presence of “Bonanza grades” of several hundred grams per tonne have repeatedly been discovered and confirmed.

• To date over 20 separate mineralized structures have been identified in the

perimeter area.

• The continuing mapping and sampling program has identified additional strike extensions which has the potential to significantly increase the current resource.

Advance-Staged Project

To date 20 lodes have been discovered in the resource area, 11 Upper ridges, 4 Murau, 3 west plants site, 2 Tuvatu and flatmekes in SKL of which only 11 have been infill drilled to support the resource which is open on dip and strike. The other 9 loads are known to exist and need further definitive drilling

Significant intercepts table used in Modelafter the application of geological factors

lode hole from to length tw au_cut tw*au_cut

units m m m m g/t Au m*g/t Au

UR1 TUDDH-076 211.5 216.5 5 3.8 20.24 76.3

UR1 TUDDH-112 300.2 305.6 5.45 3.4 15 51

UR2 TUG-037 19 20.45 1.45 1.4 46.38 66.3

UR2 TUDDH-100 252.5 255.6 3.1 2 31.66 64.6

UR2 TUDDH-130 246.3 248.9 2.6 1.5 34.36 50.2

UR5 TUDDH-108 142.5 143.7 1.25 0.6 79.2 47.5

URW1 TUDDH-160 332.5 336.2 3.72 2.7 62.4 170.4

URW1 TUG-099 57.63 59 1.37 0.9 58.85 53

URW2 TUDDH-160 403.2 407.3 4.12 2.7 19.61 53.4

URW3 TUG-092 89.5 92.46 2.96 2.4 28.55 68.5

Why Underground Access Is Important

• The 1,341 metres of access provided visual confirmation of the gold mineralization and support for our geological model.

• Trial mining of the upper ridges deposits confirmed the geological stability and mining techniques.

• Two bulk samples mined, were successfully treated through an operating process plant which yielded a 90% recovery and proved the metallurgical flowsheet.

• The decline provides drilling access for the up and down dip extensions of the deposits

Tuvatu Resource Remains Open At Depth

Tuvatu Project

Regional geological work has located 20 new structures along a 3 km strike from the core resource area. The structures are well mineralized

Exploration: Tuvatu Strike Extensions

• Three main vein structures are recognized: Nubunidike, Hornet Creek and 290 Vein.

• Numerous rock/chip samples are awaiting assay results.

Location Width (m) Grade (g/t Au)

Nubunidike Ridge 0.15 293.50

Nubunidike Ridge 0.10 124.50

Nubunidike Ridge 0.40 17.07

Hornet Creek 0.20 30.00

Nubunidike Ridge 0.25 37.75

Nubunidike Ridge 0.25 58.50

Nubunidike Ridge 0.25 29.00

Exploration: Tuvatu Strike Extensions

• Ura Creek located approximately 1km south-southwest of the Tuvatu Resource.

• Trenching indicated the strike extent of the structure to be over 90 metres.

Exploration: Tuvatu Strike Extensions

Location Width (m) Grade (g/t Au)

Ura Creek

0.15 40

0.4 102.30

1 11.75

0.4 11.24

0.6 4.52

0.4 5.85

• Jomaki Prospect Located 1.7km south of the Tuvatu Resource area.

• The vein density of the Jomaki Prospect is encouraging, and could constitute a bulk mining target.

Exploration: Tuvatu Strike Extensions

Rock Chip Sampling Program

Location Grade (g/t Au)

Veto Creek/Jomaki Ridge

8.28

4.68

4.13

3.68

Upper Savusika Creek

13.39

11.23

6.34

11.90

• Previous owners Emperor Mines Australia, a listed ASX company carried out a pre-feasibility study at a gold price of US$285 oz and found the project economically viable.

• The project is well advanced with an EIA, mine, process and tailings design

• The Tuvatu project lies on the same lineament as the 11 million ounce Vatukoula, Mt Kasi mine and the Geopacific exploration projects.

• Recently over 20 separate under explored mineralized structures have been identified covering 3 km on strike of the defined resource area.

Summary