Gold Lion Provides Update on The Nickel Plate Project and Clarifies Previous Press Release
Program To Focus on Nickel, Copper and Cobalt
Vancouver, British Columbia / June 14, 2022 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) at the request of IIROC the company is clarifying the butch gold showing referenced by Gold Lion in the news release dated July 5, 2022 is not included in the black lake project and Gold Lion has not acquired any interest in any mineral claim associated with this gold occurrence. The exclusion of this claim reduces the project to 21 mineral claims covering 21,369 hectares and allows Gold Lion to focus its effort on nickel, copper and cobalt, all classed as strategic metals.
Gold Lion is reviewing work done by previous workers and planning a summer program on the Nickel Plate project to begin in August, 2022 if workers are available. The Company has a budget of $320,000 for this proposed work program. This program will satisfy Saskatchewan government assessment requirements to renew the claims. Gold Lion is applying for an extension of the time required to complete this work and file the assessment reports. The Company holds the option to earn 100% right, title and interest in and to the Property subject to a 2% NSR royalty retained by the Optionors.
The Nickel Plate Project
The Nickel Plate project comprises 21 mineral claims covering 21,369 hectares located in northeastern Saskatchewan in an area of recent exploration activity by other firms including Kobold Metals Inc. and Faith in Gravity Holdings Inc. The Nickel Plate claims are host to approximately 40 nickel-copper occurrences with grab sample values ranging up to 4615 ppm nickel and 2801 ppm copper. This value was from a 2008 grab sample collected at the “Laura showing”. The Laura showing is associated with an airborne electromagnetic survey by previous workers. Large portions of the Nickel Plate project are covered by airborne surveys including powerful MegaTEM and VTEM surveys. Gold Lion is utilizing data generated by previous workers to plan an exploration program to be completed in the summer of 2022. This work will include ground investigations over a number of nickel, copper occurrences.
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 Black Lake, Cuteye and Fairview Properties located in British Columbia, Saskatchewan and Idaho, USA.
For more information please visit: https://goldlionresources.com/.
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
ON BEHALF OF THE BOARD OF DIRECTORS
Guy Bourgeois, CEO
T: 902.225.8881
info@goldlionresources.com
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Qualifying Statements: Mike Taylor P. Geo, a qualified person as defined by National Instrument 43-101, approves the technical information contained in this news release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes statements regarding: o mineral resources, the Company’s plans with respect to the exploration and development of its properties, the timing of cash payments, share issuance and expenditure requirements. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, that general business and economic conditions will not change and risks associated with mineral exploration. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. 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.