Vancouver, British Columbia, June 06, 2023 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has finalized arrangements to commence its 2023 exploration program (Phase 1) at the Mia-3 Lithium Project located in Eeyou Istchee, James Bay, Quebec. The Phase 1 program is planned to commence June 20 and will include surface mapping, prospecting, and rock sampling to test for lithium mineralization and lithium-cesium-tantalum (LCT) characteristics in pegmatites that may be located across the property.
“Gold Lion are very excited to commence our inaugural field exploration program on the Mia-3 Lithium project, with the main objective being to identify drill targets through rock sampling and surface mapping. There are other companies also actively exploring a nearby lithium trend, which has already identified many occurrences of high-grade spodumene pegmatites,” said Mark Haywood, CEO of the Company.
Geologica Groupe-Conseil Inc. (“Geologica”) have been engaged to perform the Phase 1 field examination work following on from the compelling targets identified by the Company’s compilation of the Quebec Government and mineral sector historic exploration work. The field examination is planned for 10 days of helicopter supported exploration, designed to cover the complete 57 claim Mia-3 project.
The Mia-3 project is located 14 km to the northwest of the Miakadow Lake lithium pegmatite occurrence (now named Mia-1). Both are within the within the La Grande geological sub-province. These pegmatites were documented in 1991 by Noranda Exploration while exploring for gold and base metals. Later exploration in the Miakadow Lake area by Ressources Dianor Inc. (1999) describes a felsic pluton and a series of coarsely pegmatitic dykes related to the Vieux-Comptoir granites which intrude the La Grande and are seen along the south and south-west shores of Miakadow Lake. The Vieux Comptoir granitic rocks intrude multiple lithologies in the La Grande sub province and are a key exploration vector which Gold Lion will investigate during this initial field program.
Geologica recently completed a property Technical Report dated May 5, 2023, “NI 43-101 Technical Evaluation Report of the Mia Li-3 Lithium Project.” The report is filed under the Company’s profile on SEDAR. Geologica will be updating this report with results from their site visit as well as providing the first full coverage map for the property from new information.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of the Mia-3 Lithium Property located in the James Bay region of Quebec. For more information please visit: https://goldlionresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
| Mark Haywood | Chief Executive Officer |
| Head Office | 305-1770 Burrard St. Vancouver, British Columbia, V6J3G7 |
| Telephone | +1 (604) 416 0569 |
| Website | www.GoldLionResources.com |
| mark@GoldLionResources.com |
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Qualified Person
William McGuinty, P.Geo, a consultant to the Company, is a registered professional geologist with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed the technical information 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. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's expected benefits of the Transaction and opportunities which will arise from the acquisition of the Property. 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, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. 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.
