LION SELECTION GROUP LIMITED. — Net Asset Value 2019

Jan 6, 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 31 December 2018 is $0.43 per share (after tax).

CommodityNovember 2018A$MPani Joint Venture (33.3% Interest)Gold38.7Fair value for Pani based on Merdeka’s acquisition of 66.7% interestin the Pani JV from Lion’s previous JV partner in November 2018.PortfolioNusantara ResourcesGold6.7RoxgoldGold4.9Egan Street ResourcesGold4.2Erdene ResourcesGold2.0Toro GoldGold1.5Other3.4Portfolio holdings measured at fair valueIncludes investments held directly by Lion and the value to Lion ofinvestments held by African Lion.Net Cash1.4	December 2018A$M¢ps38.725.87.34.94.93.34.32.92.31.51.61.03.42.31.51.0
Net Tangible AssetsA$62.8m	A$64.0m43cps
Capital StructureShares on Issue:150,134,879Share Price:38¢ps31 December 2018Options on Issue:15,720,958$0.50 expiry 12 April 2020

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

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