Vancouver, British Columbia, June 21, 2023 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has completed its initial field work target prioritization work on the Mia-3 Lithium Project located in Eeyou Istchee, James Bay Quebec.

“Gold Lion are excited about the upcoming field work after completing a tight focus review of surface features from the historical data as well as the results of the recent Technical Report”, said Mark Haywood, CEO of the Company, “Forest fire risk remains high in the region and our crew will begin work as soon as conditions are safe.”

The following satellite image shows a selection from the tight focus review of surface exposures with selection of prominent reflective linears characteristic of the positive topographic relief of pegmatite exposures in the region. These selected linears across the property provide initial vectors for Gold Lion’s crew to be examine for lithium bearing minerals such as spodumene, lepidolite and sample for lithium and general chemistry related to Lithium-Cesium-Tantalum (LCT) pegmatites common to the James Bay region.

Please click here to view image

Source image used: Bing Maps, Microsoft

The Mia-3 project is located 14 km to the northwest of the Miakadow Lake lithium pegmatite occurrence (now named Mia-1). Both are within the within the La Grande geological sub-province. These pegmatites were documented in 1991 by Noranda Exploration while exploring for gold and base metals. Later exploration in the Miakadow Lake area by Ressources Dianor Inc. (1999) describes a felsic pluton and a series of coarsely pegmatitic dykes related to the Vieux-Comptoir granites which intrude the La Grande and are seen along the south and south-west shores of Miakadow Lake. The Vieux Comptoir granitic rocks intrude multiple lithologies in the La Grande sub province and are a key exploration vector which Gold Lion will investigate during this initial field program.

Géologica Groupe – Conseil recently completed a property Technical Report dated May 5, 2023, “NI 43-101 Technical Evaluation Report of the Mia Li-3 Lithium Project”. The report is filed under the Company’s profile on SEDAR. Geologica will be updating this report with results from their site visit as well as providing the first full coverage map for the property from new information.

About Gold Lion Resources Inc.

Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of the Mia-3 Lithium Property located in the James Bay region of Quebec. For more information please visit: https://goldlionresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Qualified Person

William McGuinty, P.Geo, a consultant to the Company, is a registered professional geologist with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and has reviewed the technical information 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”, “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. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's expected benefits of the Transaction and opportunities which will arise from the acquisition of the Property. 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, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. 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 included 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.