Vancouver, British Columbia / October 18, 2021 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to provide a brief update on the Company’s ongoing exploration drilling program at its South Orogrande Property located near Dixie, Idaho (“South Orogrande” or the “Property”). The Company’s inaugural drilling program on the Property is designed to test the newly defined Horseshoe Bend target located within the Property’s X Zone.
Drilling is currently progressing on the first deep hole, SO-01, which has intersected sericite altered and strongly silicified granite of the Idaho Batholith displaying both pervasive and fracture-controlled limonitic staining near surface that transitions into increasingly disseminated amounts of pyrite with depth. A small batch of drill core samples have been shipped to the lab on a rush basis, along with 37 grab samples recently collected by prospectors working on the Company’s other claim groups in the Dixie area. The core samples are being rushed in order to give Company geologists a better understanding of possible grades to expect deeper in the hole, in the quartz-sericite altered granite and what effect the limonite staining and variable quartz-pyrite mineralization may have on the gold and silver grades.
Wolfgang Schleiss, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the scientific or 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, Cuteye and Fairview Properties located in Idaho and British Columbia. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Christopher Paul, CEO
T: +1 (250) 717-3151
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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.