Gold Lion Trenches a New Carlin-Type Oxidized Gold Discovery at Robber Gulch; Trench RG-TR-20-03 Intersects 174 Metres Grading 0.45 g/t Au, including 0.88 g/t Au over 45 Metres; Company’s Maiden Drill Program Underway
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 Trenches a New Carlin-Type Oxidized Gold Discovery at Robber Gulch; Trench
RG-TR-20-03 Intersects 174 Metres Grading 0.45 g/t Au, including 0.88 g/t Au over 45
Metres; Company’s Maiden Drill Program Underway
Vancouver, British Columbia / January 4, 2021 – Gold Lion Resources Inc. (“Gold Lion” or
the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is very pleased to announce a new
Carlin-type oxidized gold discovery on its Robber Gulch Property located near Burley, Idaho.
Trench RG-TR-20-03 intersected a broad interval of disseminated oxidized gold mineralization
situated along a height of land within the project’s Raider Zone gold-in-soil anomaly . The
discovery trench, which remains open in multiple directions , intersected 0.45g/t Au over 174m,
including a sub -interval of 0.51g/t Au over 138, and further sub -intervals of 0 .88g/t Au over
45m, and 1.16g/t Au over 18m. The s amples were collected as representative, even and
continuous 2 to 3-metre-long chip samples, along the entire length of the trench, to exclude any
potential sampling bias.
The new discovery is characterized by silicified and quartz stockwork veined calcareous
sandstones and siltstones of the Pennsylvanian Oquirrh Formation with strong iron oxide
mineralization underlying a very thin (<1m) cover of soil overburden along a sad dle-like
topographic ridge. The mineralized zone has been intersected within two cross-trenches (RG-TR-
20-02 and RG -TR-20-03) and remains open to the north and south , where it trends underneath
thin post-mineral flood basalt cover. Several additional trenches have been planned along strike
to the south, as trenching on the Property has proven to be a highly cost -effective means of
sampling and attaining excellent structural and stratigraphic information for further targeting.
Highlights
New Carlin-type oxidized gold discovery situated at a height of land on road-accessible
BLM land , located close to excellent infrastructure within the mining -friendly State of
Idaho, USA.
Similar geology to Liberty Gold Corp.’s nearby Black Pine oxide gold project
(Pennsylvanian Oquirrh Formation).1
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Trench RG-TR-20-03 intersected 0.45g/t Au over 174m , including 45 met res of 0.88 g/t
Au in calcareous sandstones and siltstones of the Oquirrh Formation.
Representative c yanide-soluble assays from the highlight interval returned a weighted
average of 90% of fire assay, attesting to the thoroughly oxidized nature of gold
mineralization on the Property.
Gold values from previous mapping and select surface grab samples suggest an increase
in grade to the south of RG-TR-20-03, onto US Forest Service (USFS) ground.
Categorical Exclusion application for the first ever tr enching and drill collaring on the
USFS portion of the Property has been submitted, to test better mineralized surface
showings on trend to the south.
Maiden RC drill program in progress on BLM land. Entire first hole (RG -RC-20-01) has
been submitted for geochemical analysis, with assays pending.
Table 1 – 2020 Trenching Program Significant Intercepts
Trench ID Location From (m) To (m) Interval (m) Au (g/t)
RG-TR-20-01 Thieves Zone 48.0 100.0 52.0 0.26
And 302.0 350.0 48.0 0.26
RG-TR-20-02 Raider Zone 27.0 63.0 36.0 0.59
Including 33.0 60.0 27.0 0.68
RG-TR-20-03 Raider Zone 3.0 177.0 174.0 0.45
Including 39.0 177.0 138.0 0.51
Including 132.0 177.0 45.0 0.88
And 141.0 159.0 18.0 1.16
RG-TR-20-04 Raider Zone 24.0 33.0 9.0 0.24
Chris Paul, Exploration Manager for Gold Lion , commented: “The new Raider Zone trench
discovery represents a major milestone in the exploration and development at Robber Gulch.
The results from trenches RG -TR-20-02 and RG -TR-20-03 have far exceeded any previously
reported historic grades and widths on the Property. Broad intervals of intense alteration, quartz
stockwork and limonite mineralization indicate the presence of a significant Carlin -type system
on the Property . Despite being located at a height of land, with a strong gold -in-soil anomaly
and minimal overburden cover, the Raider Zone had eluded discovery by historic operators,
which were focused on jasperoid altere d outcrops elsewhere on the Property. The Raider Zone
anomaly remains open both to the north and south, where it trends beneath relatively thin post-
mineral flood basalts. The tenor of the Raider Zone gold -in-soil anomaly also increases to the
south, into never-before trenched or drill -tested ground, managed by the US Forest Service .
Outcrop grab samples of up to 6.49g/t gold have been collected by the Company along this
southern extension (see news release dated July 2, 2020). We are very excited to continue testing
the Raider Zone along strike, both on BLM and Forest Service ground once permits are received
from the USFS.”
The Company also wishes to announce that its ongoing maiden RC drill program continues as
planned. One deep , 1240-foot hole (RG-RC-20-01, -45o), has now been completed. RG -RC-20-
01 was collared on BLM ground and drilled toward a series of well mineralized outcrops at
surface on United States Forest Service (USFS) ground. At the commencement of drilling, the
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Company had not yet applied for a permit to drill on USFS ground, and therefore the first hole
was collared a considerable distance downslop e of the target, on the nearest road -accessible
BLM ground. Regardless of the less-than-ideal collar location, abundant quartz veining and iron
oxide mineralization was encountered beginning at the top of the hole. For that reason, the entire
hole has been sampled and submitted for geochemical analysis. Road access and arid weather
conditions in the region continue to allow for year-round drilling and trenching operations.
Maps highlighting the results of the recently completed trenching program and 2020 drill
program progress can be found on the Company’s website at the following URL:
Robber Gulch – Trenching Results Maps | Gold Lion Resources
1Adjacent Properties - This news release contains information about adjacent properties on which
Gold Lion does not have the right to explore or mine. Investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral deposits on the Company's
properties.
QA/QC
All trench samples were logged and sampled by Gold Lion personnel. Certified reference
material standards, blanks and pulp duplicates were inserted at a ratio of approximately two in
every 10 trench samples. Rock samples were collected as continuous 2 to 3-metre-long chip
samples along the entire length of the trenches. An effort was made to collect an even volume of
bedrock along each interval in order to minimize bias in the chip sampling.
All rock samples were sealed in poly bags and were transported to MS Analytical’s laboratory in
Langley, B .C., by Gold Lion personnel for preparation and analysis. Sample preparation was
completed by crushing the entire sample to 70% passing -2mm, riffle splitting off 1 kilogram and
pulverizing the split to better than 85% passing 75 microns. Using a 30 gram su b-sample, the
gold values are determined by the fire assay method, with atomic absorption finish (code FAS -
111), which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)). Using
a 0.5 grab sub -sample, the remaining analytes wer e determined by multi -element ICP-AES with
an aqua regia digest (code ICP -130). Representative samples from RG -TR-20-03 were re -
analyzed by Cyanide Leach (code AU -CN00) with a AAS finish. A range of samples from low
(0.149g/t) to high grade gold (1.502g/t Au; determined by FAS-111) were selected to represent a
range of mineralized samples from the trenching program for reanalysis by Cyanide Leach. All
analytical results are verified with the application of industry standard Quality Control and
Quality Assurance (QA-QC) procedures.
Qualified Person
Agnes Koffyberg, P.Geo., is the Qualified Person as defined by National Instrument 43 -101 who
has reviewed and approved the scientific or technical information 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
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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 statements 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 su bject to a variety of risks and uncertainties and
other factors that could cause 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 ap provals, 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 undertakes 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 cautione d 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.