LION ONE EXTENDS MINERALIZATION AT TUVATU GOLD …€¦ · 4/9/2012 · 311 West 1st Street, North...

311 West 1st Street, North Vancouver, BC, V7M 1B5 d: 604.998.1250 f: 604 998 1253 e: [email protected] web: www.liononemetals.com

LION ONE EXTENDS MINERALIZATION AT TUVATU GOLD

PROJECT, FIJI

Intersects 16.15 g/t Gold over 3.78 m (including 248 g/t over 0.09 m)

And 23.03 g/t Gold over 7.49 m (including 855 g/t Over 0.17 m)

Vancouver, B.C., September 6, 2012. Lion One Metals Limited (TSX-V: LIO) (FSE: LY1) (LOMLF:

OTCQX) (the “Company” or “Lion One”) is pleased to report complete assay results for its first two drill holes

from its diamond drilling program at the Tuvatu Gold Project on the island of Viti Levu in Fiji.

The results confirm lateral continuity of the east-west trending Murau Lodes, intersecting down dip mineralization

along strike 80 meters to the west. Notable intersections include 16.15 g/t gold over 3.78 meters at 121.99 meters

depth from TUDDH-347, and 23.03 g/t gold over 7.49 meters at 155.05 meters depth from TUDDH-348. These

intervals include bonanza grades of 248 g/t gold over .09 meters from TUDDH-347, and 855 g/t gold over 0.17

meters from TUDDH-348. Extensions of these lodes have been mapped at surface along strike up to 1,330 meters to

the west of the Tuvatu resource area (see news release dated May 7, 2012 for reference).

Assays are pending for results from four other completed holes, including two holes drilled near the Tuvatu portal

that tested mapped extensions of the north-south trending UR lodes. A second drill rig has been mobilized to the

Tuvatu property.

Tuvatu Drilling Locations


Initial 2012 Drilling Results

Drill Hole Azimuth Dip From (m) To (m) Interval (m) True Width (m) Au (g/t) Zone

TUDDH347 360 75 61.24 62.24 1.0 0.96 0.52 Murau 2

91.5 93.2 1.7 1.63 2.76 Murau 2

103.82 105.1 1.28 0.85 1.74 Murau 1

121.99 125.77 3.78 2.51 16.15 Murau 1

Including 124 124.09 0.09 0.06 248 Murau 1

132.33 134.47 2.14 1.42 2.11 Murau 1

145.1 147.1 2 1.33 0.68 M1/Snake

TUDDH348 360 85 86.78 87.78 1 0.66 1.01 Murau 2

149.69 149.85 0.16 0.11 47.1 Murau 2

155.05 162.54 7.49 4.97 23.03 Murau1

Includes 155.05 159.69 4.64 3.08 3.38 Murau 1

And 161.37 161.54 0.17 0.11 855 Murau 1

167.3 167.86 0.56 0.37 4.57 Murau 1

175.6 177.72 2.12 1.41 1.76 Snake

Notes 1) Lower cutoff grade of 0.50 g/t Au; no upper cutoff applied

2) Up to 0.6 meters of consecutive samples of internal waste included in an interval

Previous drill results from the Murau 1 and 2 Lodes:

Drill Hole From (m) To (m) Interval (m) Au (g/t) Zone

TUDDH-069 96.00 97.70 2.70 5.93 Murau 1

TUDDH-056 93.20 95 1.80 23.15 Murau 1

TUDDH-219 84.00 88.10 4.10 7.53 Murau 1

TUDDH-225 100.15 102.50 2.35 15.42 Murau 1

TUG-056 103.60 105.65 1.65 26.82 Murau 2

TUG-102 104.80 110.00 5.20 4.13 Murau 2

About Tuvatu

Tuvatu is situated on the Viti Levu Lineament; a north-west trending belt hosting Fiji’s known gold deposits,

including the 11 million ounce Vatukoula gold deposit, located approximately 50 km to the northwest along the

regional trend. Low sulphidation, epithermal gold veins at Tuvatu occur along the margins of the eroded Navilawa

volcanic center in a multi-phase geologic environment. The Fijian Islands themselves are situated along the highly

mineralized Pacific Islands Arc, the host of a number of major deposits that include Lihir, Porgera, Ok Tedi, and

Wafi-Golpu. The Tuvatu Project currently contains a mineral resource of 652,000 ounces gold (consisting of

172,000 oz. Au indicated, 480,000 oz. Au inferred).


Technical Information and Qualified Persons

The assay analyses performed during Lion One’s drilling programs are subject to a formal quality assurance and

quality control (QA/QC) program. Diamond drill core was logged and sampled on site at Tuvatu by Company staff

with samples delivered by the Company to the facilities of Australian Laboratory Services (ALS) Pty. Ltd., an

independent accredited analytical laboratory. Samples are first prepared and crushed at the ALS facility in Suva,

Fiji, before being shipped to Brisbane, Australia for assay analysis. Samples are subjected to fire assay with atomic

absorption finish for gold and 33 elements, four acids, and Inductively Coupled Plasma Spectrometry (ICP-AES).

Standard reference materials, blanks, and field duplicates samples are inserted prior to shipment from site to monitor

the quality control of the data. Samples with higher grade gold (greater than 3 grams per tonne) are reassayed using

a gravimetric and/or pulps and metallic procedure. The Company’s exploration team planned and executed the 2012

drilling program under the supervision of Lion One’s Vice President of Exploration, Mr. David Pals. The content of

this news release has been reviewed by Mr. Darcy Krohman, P.Geo, a Qualified Person for the purposes of National

Instrument 43-101.

On Behalf of the Board of Directors For further information contact:

“Walter H. Berukoff” Investor Relations

Chairman of the Board Tel: 604-998-1250

Lion One Metals Limited Fax: 604-998-1253

www.liononemetals.com [email protected]

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or

accuracy of this release.

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation.

All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-

looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect",

"proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or

"believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or

results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s

current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals

Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects

being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior

exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that

may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be

materially different from those expressed or implied by such forward-looking information. Such risks and other factors may

include, but are not limited to: the early stage development of Lion One Metals Limited, general business, economic, competitive,

political and social uncertainties; the actual results of current research and development or operational activities; competition;

uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to

receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and

availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of

economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has

attempted to identify important factors that could cause actual results to differ materially from those contained in forward-

looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly,

readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update

any forward-looking information, except in accordance with applicable securities laws.

http://www.liononemetals.com/

mailto:[email protected]

LION ONE EXTENDS MINERALIZATION AT TUVATU GOLD …€¦ · 4/9/2012 · 311 West 1st Street, North...

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