Gold Lion Provides Update on The Nickel Plate Project, Samples Grading Up to 50.98 g/t Gold
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
NEWS RELEASE
Gold Lion Provides Update on The Nickel Plate Project, Samples Grading Up
to 50.98 g/t Gold
Vancouver, British Columbia / Ju ly 5, 2022 – Gold Lion Resources Inc. (“Gold Lion ” or the
“Company”) ( CSE: GL) (OTC: GLIOF) (FWB: 2BC) advises that further to the acquisition of
1000173975 Ontario Inc. (“Numco”) on June 6, 2022, Gold Lion has assumed certain cash payments,
common share issuances and property expenditures required to earn a 100% interest in the Nickel Plate
project located in northeastern Saskatchewan. The Nickel Plate project comprises 22 mineral claims
originally referenced as the Black Lake mineral property (the “Property”) which were acquired by Numco
pursuant to an option agreement entered into on March 7, 2022 (the “Option Agreement”) with Gem Oil
Inc. and Bartaine Investments Co. Ltd. (the “Optionors ”). To earn 100%, Gold Lion will complete the
following schedule of cash payments, share issuances and property expenditures:
Payment Date Cash Payments Share Issuances Property Expenditures
On or before October
5, 2022
- 300,000 shares -
On or before April 5,
2023
$50,000 300,000 shares $100,000
On or before April 5,
2024
$50,000 300,000 shares $100,000
On or before April 5,
2025
$50,000 300,000 shares $100,000
TOTAL $150,000 1,200,000 Shares $300,000
Upon completion of the property expenditures, noted cash payment and share issuances to the Optionors,
the Company will have earned a 100 % right, title and interest in and to the Property. The O ptionors have
retained a 2% NSR in respect of the Property , one-half of which (1% NSR) can be purchased by the
Company at any time for a purchase price of $1,000,000 for a period of 5 years after the earn-in date.
The Company has issued an aggregate of 300,000 common shares to the Optionors at a price of $0.05 per
share in satisfaction of the first share issuance due. Subsequent share issuances will be issued at a deemed
price equal to the fair market value on the trading date immediately preceding the date on which the share
issuance is due.
All securities issued in connection with the Option Agreement will be subject to a statutory hold period of
four months and one day from issuance pursuant to applicable securities laws.
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
Gold Lions Resources Nickel Plate Project
Gold Lions Resources Nickel Plate project is adjacent to properties/claims owned by Kobolt Metals Inc and
Faith in Gravity Holding which runs northeast of Black Lake and is backed by some of the world’s
wealthiest people. Gold Lion’s Nickel Plate project comprises 22 mineral claims covering 25,442 hectares
located in northeastern Saskatchewan in an area of active metal exploration.
Gold Lion’s Nickel Plate property is prospective for nickel, copper, cobalt, platinum, palladium and gold.
Known mineral occurrences include the Butch gold occurrence where previous workers collected grab
samples grading up to 50.98 g/t gold, 2.96 g/t platinum and 4.01 g/t palladium. The Butch showing occurs
in hematite altered, fractured and sheared amphibolite outcrops in the vicinity of the regional NNE-trending
Platt Creek shear zone.
In addition, the Nickel Pl ate claims are host to approximately 40 nickel -copper occurrences with grab
sample values ranging up to 4615 ppm nickel and 2801 ppm copper. This value was from a 2008 grab
sample collected at the “Laura showing”. The Laura showing is associated with an airborne electromagnetic
survey by previous workers. Large portions of the Nickel Plate project are covered by airborne surveys
including powerful MegaTEM and VTEM surveys.
CEO Guy Bourgeois commented, “As we reimagine and rebuild the global energy infrastructure, it will
require an extensive amount of battery metals and materials to modernize a reliable, resilient, and secure
electric grid. Much of the world’s cobalt supply is a by -product of nickel and copper mining, with the
majority sourced from the Democratic Republic of Congo, therefore, North American sources are critical.
For instance, Cobalt has specific properties to manage heat and is essential to stabilize and improve battery
performance in electric vehicles, microgrids and other prevalent battery -powered devices. Several factors
are pushing demand for battery materials and Gold Lion is well -positioned to supply the international
market.”
Gold Lion is planning an exploration program to be completed in the summer of 2022. This work will
include ground investigations and surveys over the Butch gold, platinum, palladium occurrence as well as
a number of the more prospective nickel, copper occurrences.
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 Black Lake, Cuteye and Fairview Properties located in British
Columbia, Saskatchewan and Idaho, USA. 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.
Qualifying Statements: Mike Taylor P. Geo, a qualified person as defined by National Instrument 43-
101, approves the technical information contained in this news 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 expected”, “estimates”,
600 – 1090 West Georgia Street, Vancouver, British Columbia V6E 3V7
T: 902-225-8881/
W: https://goldlionresources.com/
“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. Forward-looking information in this news release includes statements regarding: o mineral
resources, the Company’s plans with respect to the exploration and development of its properties , the
timing of cash payments, share issuance and expenditure requirements. 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, that general business and economic
conditions will not change and risks associated with mineral exploration. 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 results 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 include d 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.