Gold Lion Completes Airborne Geophysics Survey Over Nickel Plate and Launches Nickel, Copper and Cobalt Project
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2022) - Gold Lion Resources Inc. (CSE: GL) (OTC Pink: GLIOF) (FSE: 2BC) ("Gold Lion" or the "Company") is pleased to announce that it has completed a combined aeromagnetic, VLF- electromagnetic and radiometric survey over all 4 claim groups comprising its Nickel Plate project in northeastern Saskatchewan (the "Property"). MPX Geophysics Ltd. ("MPX") flew the 2,528 km survey using a Piper Navajo PA31 aircraft. The survey included 2,295 km flown at 100 metre line spacing and 273 km of orthogonal tie lines at 1,000 metre spacing over the Breynat, Father Lake, Twin Lakes and Nickel Plate claim groups.
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The airborne survey covers approximately 40 nickel-copper occurrences which were discovered by previous workers and are located within the 4 claim groups. These occurrences include the "Laura showing" with up to 4615 ppm nickel and 2801 ppm copper detected in a 2008 grab sample which was collected by previous workers. This showing was found because of airborne surveys completed by previous workers. Gold Lion expects to generate additional drilling targets from the new airborne survey and intends to utilize the survey to plan a follow-up exploration program.
The four claim groups of the Nickel Plate project comprise 21 mineral claims covering 21,369 hectares located in northeastern Saskatchewan where other firms including Kobold Metals Inc. and Faith in Gravity Holdings Inc. have been exploring for nickel, cobalt, copper and other strategic metals. Gold Lion holds the option to earn a 100% right, title, and interest in and to the Property, subject to a 2% NSR royalty retained by the optionors.
Commented Guy Bourgeois, CEO of Gold Lion, "Gold Lion is very pleased with the field work and results from the program conducted by MPX on our portfolio of properties in Saskatchewan. It gives Gold Lion an excellent base to move forward and we will provide the results of the survey as soon as they become available."
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a rapidly growing, Canada-based mineral exploration company actively involved in the exploration of battery and precious metals with operations in the Kingdom of Morocco and portfolios that include Black Lake, Cuteye and Fairview Properties located in British Columbia, Saskatchewan and Idaho, USA. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Guy Bourgeois, CEO
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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.
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.
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