Gold Lion To Acquire Four Additional Projects in Idaho’s Orogrande Gold District
305-1770 Burrard St. Vancouver, British Columbia V6J 3G7
T: (778) 772-1751/ W: https://goldlionresources.com/
GOLD LION RESOURCES INC.
NEWS RELEASE
Gold Lion To Acquire Four Additional Projects in Idaho’s Orogrande Gold District
Vancouver, British Columbia / July 9, 2020 – Gold Lion Resources Inc. (“Gold Lion ” or the
“Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has entered into an
agreement to acquire, through the purchase of a private Idaho corporation, four additional gold properties
which lie to the south of Gold Lion’s South Orogrande property located near Dixie, Idaho. The additional
land holdings compliment the Company’s recent acquisition of 40 additional lode claims at South
Orogrande, as previously announced in its June 10, 2020 news release.
The Doc, Majestic, Mammoth and Red Cloud properties contain eight (8) past -producing gold mines
which operated throughout the early 1900’s before shutting due to an executive order during WWII. The
properties lie within the southern extension of the district-scale Orogrande Shear Zone and have not yet
seen modern systematic exploration on a significant scale. Once completed, t hese acquisitions will form
part of the Company’s corporate strategy of consolidating the highly underexplored Orogrande district, an
emerging gold belt which lies within the mining friendly state of Idaho.
Under the terms of the agreement under which Gold Lion will acquire all of the issued and outstanding
shares of the Idaho company, Gold Lion will issue an aggregate of 2.6 million Gold Lion common shares
at a price of $0.56 per share to that company’s shareholders upon closing of the transaction . Each of the
selling shareholders is arm’s length to Gold Lion. When issued, the Gold Lion shares will be subject to a
four month hold period in accordance with applicable securities laws.
Supplementing the Company’s ongoing Induced Polarization (IP) geophysical survey on its Erickson
Ridge and South Orogrande projec ts, additional crews will be mobilized to the Doc, Majestic, Mammoth
and Red Cloud properties to carry out further prospecting, mapping and geochemical surveys.
Oliver Friesen, CEO of Gold Lion, stated: “ We are pleased to announce this agreement for the latest
addition to our Idaho land holdings within a highly prospective and underexplored gold district. The latest
transaction will result in the Company owning a 100% interest in four new Idaho properties, covering
eight past producing gold operations , with no underlying milestone or royalty payments due . We look
forward to releasing the results of our ongoing exploration in the district, including on the four new
projects, in the coming weeks.
An updated map of the Company’s South Orogrande holdings can be found on the Company’s website at
the following URL:
https://goldlionresources.com/wp-content/uploads/2020/07/south-orogrande-project-dixie-district-land-
holdings-map.jpeg
2
Qualified Person
Agnes Koffyberg, P.Geo., is the Qualified Person as defined by National Instrument 43 -101 who has
reviewed and approved the technical data 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, Robber Gulch, Cuteye
and the Fairview Properties located in Idaho and British Columbia . For more information please visit:
https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Oliver Friesen
CEO
T: +1 (778) 772-1751
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the
accuracy or adequacy of this release.
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 st atements 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 c ause 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 u ndertakes 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.