Facsimile: 604-669-3041 Trading Symbol: “LG”

LIONS GATE ENERGY INC.

15th floor 675 West Hastings Street, Vancouver British Columbia, Canada V6B 1N2

Telephone: 604-669-6463 TSX Venture Exchange Facsimile: 604-669-3041 Trading Symbol: “LG” Toll Free: 1-800-663-9688

News Release 12-01

March 16, 2012

Vancouver, BC – Lions Gate Energy Inc. (TSXV:LG) (the “Company”) announces that it has been advised that Farshad Shirvani, a director of the Company, was issued a Notice of Hearing from the British Columbia Securities Commission (the “BCSC”) dated March 13, 2012 alleging that he failed to disclose in certain regulatory filings the fact that the BCSC issued three cease trade orders against International Ranger Corp. (“Ranger”) while he was a director of Ranger. These allegations have not been proven.

Management has been advised the Mr. Shirvani will be disputing the allegations and is confident that once all the facts have been presented to the BCSC that Mr. Shirvani will be found to not have deliberately violated the Securities Act.

The Notice of Hearing can be viewed at BCSC:2012/16 BCSC Executive Director’s Bulletin:

ON BEHALF OF THE BOARD OF DIRECTORS

“J. Frank Callaghan”

J. Frank Callaghan President and CEO 604-669-6463

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release