Vancouver, British Columbia / June 8, 2021 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has mobilized soil sampling crews to its Erickson Ridge and South Orogrande Properties (the “Orogrande Properties” or the “Properties”) located near Elk City, Idaho. The Properties are under option from EMX Royalty Corp. and encompass several new showings as well as past-producing gold mines which operated throughout the early 1900’s and to the best of the Company’s knowledge, prior to 2020 have not been explored since World War II. The Company is planning a robust geochemical survey which will include over 6,000 soil samples, as well as prospecting and rock sampling following up on strong results from its 2020 exploration campaign (see news release November 20, 2020). The 2021 exploration campaign will focus on:
- Soil sampling and additional rock sampling over the newly discovered CP Vein, a mineralized quartz vein discovered at the south end of the South Orogrande property which returned values of up to 11.8g/t Au and 44.8g/t Ag.
- In-fill and extension soil sampling over numerous strong gold-in-soil anomalies identified in 2020.
- Additional rock and soil sampling within the X-Zone gold-in-soil anomaly, which was extended during the 2020 exploration campaign and remains open towards the CP Vein.
- Additional rock and soil sampling within a newly identified gold-in-soil anomaly over the historic Goldmaster mine showing
- Infill and extension soil sampling over a newly identified gold-in-soil anomaly extending well southeast of the historic Penman and Homestake mine showings on the South Orogrande property, which is not associated with any known historic mineralization.
The Company has reviewed all provincial and state recommended COVID travel precautions and have implemented a stringent COVID response plan to ensure crew safety during the upcoming work program at the Dixie Properties.
Wolfgang Schleiss, 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.
Note: The reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the Property.
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
Christopher Paul, CEO
T: +1 (250) 717-3151
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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 subject 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 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 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 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.