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Northern Lion Gold Corp. (the "Company" or "Northern
Lion") (TSX VENTURE:NL - News; FRANKFURT:N3E - News) wishes to provide this
update on exploration activities on the Company's permits within the Republic
of Cyprus.
Hy-Tech Drilling Ltd. of Smithers, BC, Canada, commenced the 2011 drill program in
February, and are currently halfway through the planned program. Logging and
sampling of the core is ongoing and samples are being shipped on a weekly
basis to ALS Chemex in Romania for analyses. The
Company anticipates it will begin to receive initial assay results from this
drill program within the next few weeks.
Concurrently with the drill program, surface exploration is continuing
on the Company's western permits. This work entails mapping and sampling of
several prospective areas defined by the regional geochemical survey carried
out in 2010. These zones contained strongly anomalous values in copper, zinc,
gold and silver in multiple samples. This region has historically seen
significantly less exploration activity than the eastern portion of the
country. The Company plans to have this evaluation completed upon receipt of
the airborne VTEM survey data.
As a result of the Company's activities in Cyprus, interest in mineral
exploration has spread through the communities and prospectors are now bringing
new showings to the Company for evaluation.
History
The history of mineral exploitation (copper, gold and other metals) on
the island of Cyprus dates back to the Bronze Age, approximately 5,000 years
ago. The Phoenicians were the first to process copper on the island, followed
by the Romans and this activity has continued to the present day. The
evidence of this long history of mining is readily observed in the abundant
ancient surface and underground workings along with extensive slag heaps.
Mineral exploration in the Republic of Cyprus has been at a very low level
over the last few decades, and management believes that there is a high
probability of additional massive sulphide bodies
being present that did not outcrop, as nearly all of the known deposits did.
The metal deposits of Cyprus are dominantly copper-bearing
volcanogenic hosted massive sulphide
"VHMS" deposits. These deposits are hosted within the pillow lava
sequence of the Troodos Ophiolite
Complex. The pillow lava sequence is divided into Upper and Lower Pillow
Lavas, with the majority of massive sulphide bodies
located along the contact between pillow lava sequences, and the remainder
between the Lower Pillow Lavas and the Basal Group. All of the Company's
applications overlie these important contacts. Gold mineralization associated
with the massive sulphide ores has not historically
been evaluated.
Quality Control and Assurance
The Company's field activities in Cyprus are under the direction of
Jim Chapman, P.Geo. (BC), consultant to the Company
and "qualified person", as defined by National Instrument 43-101,
who is responsible for the technical content of this news release.
About Northern Lion
Northern Lion Gold Corp. is a Canadian mineral exploration company,
listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company is
committed to building a strong portfolio of projects within mining-friendly
and infrastructure-rich areas of Europe.
In addition to its exploration permits in Cyprus, the Company holds a
100% interest in its Moura Licence
in Portugal and a 100% interest in one project in the historic Bergslagen mining district of southern Sweden.
NORTHERN LION GOLD CORP.
John Lando, President
This news release includes "forward-looking information", as such term is defined in applicable securities laws.
The forward-looking information includes, without limitation, the success of
exploration activities and other similar statements concerning anticipated
future events, conditions or results that are not historical facts. These statements
reflect management's current estimates, beliefs, intentions and expectations;
they are not guarantees of future performance. The Company cautions that all
forward-looking information is inherently uncertain and that actual
performance may be affected by a number of material factors, many of which
are beyond the Company's control. Such factors include, among others, risks
and uncertainties relating to exploration and development; the ability of the
Company to obtain additional financing; the Company's limited operating
history; the need to comply with environmental and governmental regulations;
potential defects in title to the Company's properties; fluctuations in
currency exchange rates; fluctuating prices of commodities; operating hazards
and risks; competition; and other risks and uncertainties. Accordingly,
actual future events, conditions and results may differ materially from the
estimates, beliefs, intentions and expectations expressed or implied in the
forward-looking information. All statements are made as of the date of this
news release and, except as required by law, the Company is under no
obligation to update or alter any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
Contact:
John Lando
Northern Lion Gold Corp.
(604) 669-2701 or Toll Free: 1-800-663-0510
Don Flahiff
Northern Lion Gold Corp.
(604) 669-2701 or Toll Free: 1-800-663-0510
info@northernliongold.com
www.northernliongold.com
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