Vancouver, British Columbia--(Newsfile Corp. - June 16, 2023) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") has entered into an agreement to purchase a USD $2.1 million loan note ("Loan Note") from Salamander Mining International Limited ("Salamander"). The Loan Note is owed by GnT Mining Propriety Limited ("GnT") and its subsidiary Bosveld Mines Propriety Limited ("Bosveld"). The Loan Note has priority ranking over shareholder and other debt and is secured by the Bosveld tailings project. GnT is a private company and owns 70 per cent of Bosveld which in turn owns the Klipwal gold mine in KwaZulu -Natal, South Africa. Klipwal is currently an open cut operation with a 50,000 tpa treatment plant. GnT is working on a plan to develop a tailings treatment operation by the end of the year and start work on refurbishment on an underground mine.

Vancouver, British Columbia--(Newsfile Corp. - March 22, 2023) - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay" or the "Company") is pleased to announce that further to the news release from February 10, 2023, where the Company announced to purchase fifty per cent (50%) of Greensands Australia Pty Ltd (GAL), the Company has agreed to lower the percentage acquired to twenty-five percent (25%). On March 16, 2023, GAL received an exploration licence covering the Florina Greensand Project in the Northern Territory, Australia. The other 75 per cent is being acquired by Fidelity Minerals Corp. ("FMN", "Fidelity"), which is a company within the Lions Bay investment portfolio. Lions Bay currently owns 49.71% of Fidelity so its direct and indirect interest in GAL will be approximately 62%.