Gold Lion Sells Its Black Lake Mineral Property
GOLD LION RESOURCES INC.
NEWS RELEASE
Gold Lion Sells Its Black Lake Mineral Property
Vancouver, British Columbia / December 22, 2022 – Gold Lion Resources Inc. (“Gold Lion” or
the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) announces that it has signed and closed
a share purchase agreement dated December 20 , 2022 (the “SPA”) to sell its 100% interest in its
wholly-owned subsidiary, 1000173975 Ontario Inc. (“OntarioCo”) to an arm's-length purchaser (the
“Transaction”). OntarioCo owns 100% of the Black Lake Mineral Property, located in northern
Saskatchewan (the “Property”). The Property presents an opportunity for the mining of battery metals,
including Cobalt, Nickel, Copper as well as Gold.
Pursuant to the SPA, the Company will receive an aggregate of $380,000 as consideration for the sale
of the Property through the transfer of all the issued and outstanding shares in the capital of
OntarioCo.
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 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
Guy Bourgeois, CEO
T: 902.225.8881
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the
accuracy or adequacy of this 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 ex pected”, “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 res ults 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.
305-1770 Burrard St. Vancouver, British Columbia V6J 3G7
T: (778) 772-1751/ W: https://goldlionresources.com/