Gold Lion Provides Corporate Update and 2020 Operational Recap
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 Provides Corporate Update and 2020 Operational Recap
Vancouver, British Columbia / December 3rd, 2020 – Gold Lion Resources Inc. (“Gold Lion” or the
“Company”) ( CSE: GL) is pleased to provide the fol lowing corporate update and overview of the
Company’s 2020 operational developments.
CORPORATE UPDATE
The Company strengthened its board and management team with the appointment of Hannah Jin
and Douglas Meirelles to the board of directors as well as Oliver Friesen as Chief Executive
Officer and Corporate Secretary.
The Company completed an option transaction with one of the top TSX -Venture listed royalty -
generators EMX Royalty Corp., to acquire a portfolio of gold -focused assets in mining friendly
Idaho, USA.
Gold Lion further strengthened its precious metal portfolio by acquiring 100% of four additional
gold properties in the underexplored Dixie Gold Distr ict in Idaho through its acquisition of
private company Ohadi Geoex Inc.
The Company secured a tri -listing after commencing trading on all applicable OTC marketplaces
under trading symbol “GLIOF”, as well as a listing on the Borse Frankfurt Exchange under the
trading symbol “2BC”.
The Company completed two equity raises: a $1,000,000 non -brokered financing with one
subscriber at $0.50 per unit with a full warrant exercisable at $0.75 (see news release May 22,
2020), and a $3,000,00 0 marketed short form prospectus offering led by Eight Capital at $0.45
per unit with a full warrant exercisable at $0.60 (see news release November 3, 2020). EMX
Royalty Corp., further increased its investment in Gold Lion by participating in the short fo rm
prospectus offering.
Gold Lion completed a comprehensive corporate branding initiative culminating with the official launch
of its corporate website earlier in the year . The Company encourages all current and prospective
shareholders to visit the Gold Lion corporate website located at: https://goldlionresources.com/.
2020 OPERATIONAL OVERVIEW
The Company had a busy 2020 exploration season which saw exploration programs completed on
all seven of its Idaho gold properties.
Phase I and II geochemical sampling programs completed on its Robber Gulch Carlin-type gold
Property (“Robber Gulch”) located near Burley, Ida ho, delineated multiple undrilled high -tenor
gold-in-soil anomalies including the West, Central, East, and Southern anomalies.
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Four trenches covering a combined 700m of total length were excavated within the West and
Central gold -in-soil anomalies which u ncovered several sections of intense quartz stockwork
veining. The results of this program are expected by early - to mid -December. Immediately
following receipt of the trenching results , Gold Lion will commence its inaugural RC drilling
program on the Robber Gulch Property. The Company will keep the market informed over the
coming weeks in regard to its trenching program results and drilling program updates.
The Company obtained strong geochemical, geophysics and rock sampling results on its South
Orogrande and Dixie Area Gold Properties (see news release dated November 10 th, 2020). Gold
Lion is currently awaiting approval of its drilling permit application for its South Orogrande and
Erickson Ridge properties located near Elk City, Idaho, which it expects to receive in the coming
months.
Oliver Friesen, CEO and Corporate Secretary of Gold Lion stated: “The Company is very pleased to
recap the operational and corporate advancements made in 2020. Despite the COVID -19 pandemic being
prevalent for the majority of the year, Gold Lion was able to forge ahead and complete several field
programs on all of its Idaho gold properties, further advancing them towards a drill-ready stage. We look
forward to receiving the results of the trenching recently complete d on our Robber Gulch Pro perty, as
well as the commencement of the Company’s first ever drill program later this month. 2020 has been an
exciting year for Gold Lion thus far, and the Company is eager to continue advancing its portfolio of gold
and silver focused assets in Idaho.”
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 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: (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
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forward-looking information, including factors beyond the Company’s control. There are no assurances
that the business plans for Gold Lion 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 cautioned not to p lace 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.