Lion Rock Appoints Retired US Air Force Colonel Leon Ray and Growth Executive James Winborn as Strategic Advisors

Lion Rock adds two strategic advisors as Volney project advances permitting in South Dakota.

What the company is saying

Lion Rock Resources Inc. (TSXV:ROAR, OTCQB:LRRIF, FSE:KGB) announces the appointment of Colonel Leon Ray (US Air Force, Retired) as Strategic Advisor, highlighting his 30-year military career, Pentagon experience, and work with Congress on military initiatives. The company positions Ray's expertise as critical for navigating US government and military procurement as it advances the Volney Critical Minerals and Gold Project in South Dakota's Black Hills. The release also details Volney's historical role in supplying lithium, tin, and tantalum—now all US-designated critical minerals—and notes that the US has not mined tantalum since 1959. Lion Rock emphasizes recent operational progress: receipt of a Conditional Use Permit from Lawrence County for mining and bulk sampling, and ongoing advancement of the state mining license application alongside Phase 2 exploration planning. James Winborn is also appointed as Strategic Advisor, with over 15 years of executive experience in organizational turnarounds, revenue growth, and brand development, including roles at Red Bull and national sports associations. Winborn is tasked with advising on corporate growth strategy and brand positioning. The announcement frames these appointments as strengthening Lion Rock's ability to secure US critical minerals supply and build its corporate profile.

What the data suggests

The announcement confirms two new strategic advisors: Colonel Leon Ray, with over 30 years of US Air Force service (1974–2005), including Pentagon and Congressional roles, and James Winborn, with more than 15 years of executive leadership and brand development experience. Operationally, Lion Rock has secured a Conditional Use Permit from Lawrence County, South Dakota, for mining and bulk sampling at the Volney project, and is advancing a state mining license application while planning Phase 2 exploration. Volney's historical production of lithium, tin, and tantalum is cited, but no current resource, reserve, or production figures are disclosed. The US has not mined tantalum since 1959, underscoring the project's potential strategic relevance. The company provides no financial data, resource estimates, or exploration results in this release. The facts support that Lion Rock is in the early-stage permitting and planning phase, with experienced advisors added to support government engagement and corporate growth.

Analysis

The announcement is primarily a personnel update, disclosing the appointment of two strategic advisors with detailed backgrounds and roles. It also provides a factual operational update: receipt of a Conditional Use Permit for mining and bulk sampling at the Volney project, and that the state mining license application is advancing. No financial, production, or resource figures are disclosed, and there are no claims of immediate operational or financial impact from these appointments. Forward-looking statements (e.g., advisors will help with procurement, growth strategy, and project advancement) are routine for such releases and are not exaggerated relative to the evidence provided. The language is proportionate, with no overstatement of realised progress or imminent benefits. There is no indication of a large capital outlay or claims of near-term earnings impact. The gap between narrative and evidence is minimal, as the claims are limited to factual appointments and status updates.

Risk flags

• ●Permitting risk is material, as the Volney project has only recently received a Conditional Use Permit from Lawrence County and is still advancing its state mining license application. Delays or denials at the state level could stall or halt project development.
• ●Execution risk is present given the early-stage status of the Volney project, with no disclosed resource estimate, production plan, or economic assessment. The project's advancement depends on successful exploration, permitting, and eventual financing.
• ●Key-person risk is moderate, as the company is relying on the expertise and networks of newly appointed advisors to navigate government procurement and corporate growth. While their backgrounds are strong, there is no guarantee that their involvement will translate into tangible project or financial outcomes.

Bottom line

Lion Rock Resources is building its advisory team with high-profile appointments as it progresses the Volney Critical Minerals and Gold Project through early permitting in South Dakota. The addition of Colonel Leon Ray and James Winborn brings relevant experience in government, military procurement, and corporate growth, but the announcement does not include resource, production, or financial data. The operational update confirms a key local permit and ongoing state-level licensing, but the project remains pre-resource and pre-revenue. Investors should see this as a signal of intent and network-building rather than imminent value creation. The most important takeaway is that Lion Rock is positioning itself for future participation in the US critical minerals supply chain, but tangible milestones such as resource definition or offtake agreements will be needed to materially de-risk the story.

Announcement summary

(TSXV:ROAR) (OTCQB:LRRIF) (FSE:KGB) Lion Rock Resources Inc. has appointed Colonel Leon Ray (United States Air Force, Retired) as a Strategic Advisor to the Company. Colonel Ray brings over 30 years of US Air Force leadership, including service as an Executive Officer at the Pentagon and experience working with Congress on military initiatives. He will advise Lion Rock on government and military procurement and engagement as the Company advances its Volney Critical Minerals and Gold Project in South Dakota's Black Hills. The Volney project historically produced critical minerals for the US war effort in the 1940s, including lithium concentrate under contract with the US government, and has also produced tin and tantalum. Tantalum, tin, and lithium are currently designated as critical minerals by the US government, and the US has not mined tantalum since 1959. Lion Rock recently received Conditional Use Permit approval from Lawrence County, South Dakota, for mining and bulk sampling at Volney, and the state mining license application is advancing alongside planning for Phase 2 exploration. Colonel Ray served in the United States Air Force from 1974 to 2005, rising from Airman Basic to Colonel, with his promotion confirmed by the US Senate in 2001. His career included service during Operation Desert Shield and Operation Desert Storm, and he was at the Pentagon on September 11, 2001, participating in strategic response planning. Since retiring, Colonel Ray has worked in real estate in Arizona, focusing on assisting veterans and working with community leaders and government officials on community projects and zoning matters. Lion Rock has also appointed James Winborn as a Strategic Advisor. Mr. Winborn is a strategic growth executive with over 15 years of leadership experience in organizational turnarounds, revenue growth, and financial sustainability across multi-million-dollar organizations. Since 2012, he has led national sports associations in North America as Executive Director, overseeing strategy, operations, and finance, and has achieved financial turnarounds, membership and revenue growth, and modernized event infrastructure. Earlier, he held brand development and marketing roles at Red Bull, specializing in audience growth strategy, sponsorship activation, and brand positioning. Mr. Winborn will advise Lion Rock on corporate growth strategy and brand positioning. The Volney project is a lithium-tin-tantalum asset with a recent gold discovery, located in a mining-friendly jurisdiction, surrounded by active gold operations, accessible by all-season road, with on-site power and water, and less than one hour from the US rail network. The Company is led by an award-winning team with a track record in mineral discoveries, project development, and financing. R. Dale Ginn is President & Chief Executive Officer.

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