LION SELECTION GROUP LIMITED. — Net Asset Value 2019

Jul 7, 2019

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ASX RELEASE: LSX

Net Tangible Asset Backing

Net Tangible Asset Backing

Lion Selection Group Limited (Lion) advises that the unaudited net tangible asset backing of Lion as at 30 June 2019 is $0.43 per share (after tax).

CommodityMay 2019A$MPani Joint Venture (33.3% Interest)Gold38.7Fair value for Pani based on Merdeka’s acquisition of 66.7% interestin the Pani JV from Lion’s previous JV partner in November 2018.PortfolioNusantara ResourcesGold7.4Egan Street ResourcesGold5.3RoxgoldGold4.6Erdene ResourcesGold1.8Toro GoldGold1.6Other3.5Portfolio holdings measured at fair valueIncludes investments held directly by Lion and the value to Lion ofinvestments held by African Lion.Net Cash2.4

June 2019A$M¢ps38.725.86.54.35.33.53.42.31.71.21.61.04.12.82.71.7

Net Tangible AssetsA$65.3m

A$64.0m43¢ps

Capital Structure

Shares on Issue:	150,134,879
Share Price:	34¢ps	30 June 2019
Options on Issue:	15,720,958	$0.50 expiry 12 April 2020

Further enquiries: Craig Smyth E: csmyth@lsg.com.au

Lion Selection Group Limited ABN 26 077 729 572 Level 2, 175 Flinders Lane, Melbourne Vic 3000 T: +61 3 9614 8008 www.lsg.com.au