Vancouver, British Columbia / October 28, 2020 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (FWB: 2BC) is pleased to announce that it has filed a technical report (the “Technical Report”) pursuant to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for the Company’s Erickson Ridge Property located in Idaho, USA (the “Property”). Brian T. Brewer, C.P.G, M.Sc., a “Qualified Person” under NI 43-101 and independent of the Company, authored the Technical Report. A copy of the Technical Report is available under the Company’s profile at www.SEDAR.com. The Technical Report has been prepared to update and clarify the Company’s disclosure with respect to the Property. The Technical Report supports the disclosure respecting the Property in this news release, and there are no material differences between that disclosure and the Technical Report.
The Company advises readers that it does not have current mineral resources or current mineral reserves on any of its mineral properties, including the Property. Past Company news releases, as well as the Company’s website and third party marketing materials (including third party websites), included information that was not compliant with NI 43-101 and was potentially misleading with respect to historical mineral resource estimates and properties adjacent to the Company’s properties. The Company hereby retracts all such non-compliant disclosure and has removed such disclosure from its website and from third party websites. Readers are cautioned that they should not rely on any such disclosure for any purpose.
As disclosed in the Company’s preliminary short form prospectus dated September 25, 2020 and available under the Company’s profile at www.SEDAR.com, only a small portion of the proceeds to be raised under the offering described in the preliminary prospectus will be expended on Property.
Brian T. Brewer, C.P.G, M.Sc., is the Qualified Person as defined by NI 43-101 who has reviewed and approved the scientific and technical information in this news release.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its precious metal focused portfolio including the South Orogrande, Erikson Ridge, Robber Gulch, Cuteye and the Fairview Properties located in Idaho and British Columbia. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
T: +1 (778) 888-5315
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Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Gold Lion Resources described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.