| ||Tue Aug 3, 2010|
Drilling Underway at the Moura Project, Portugal
| ||Vancouver, British Columbia: Northern Lion Gold Corp. (the "Company" or "Northern Lion") wishes to announce the commencement of a diamond drill program on the Company's 100% owned Moura License, located in southern Portugal. The 252.5 square kilometre Moura license is located 180 kilometres east-southeast of Lisbon. The license encompasses two historical deposits (Enfermarias and Preguica), and 11 known mineral occurrences, within a 25 kilometre lead-zinc-silver belt.|
Earlier this year a geophysical induced polarization (IP) survey was completed over two areas of interest; Carrasca and Machados. These areas have undergone limited exploration in the past and were chosen based on favorable geology and soil anomalies from historical geochemical surveys. Three holes are planned at Machados to test a combination of resistivity, chargeability and soil geochemistry anomalies. Geological mapping of the area indicates two NW-SE trending SW overturned anticlines and one syncline, with the limbs dipping approximately 40˚ NE. Cambrian dolomites dominate the anticline centers and the syncline center is represented by Ordovician acid metavolcanics. Prospecting of the area has discovered float consisting of magnetite and hemaitite mineralization and quartz, hematite, and copper oxide mineralization.
Machados is located approximately 2 km south of Enfermarias where Northern Lion previously drilled 4 holes in 2008. Results from the 2008 program were reported March 18, and May 14, 2008, and consisted of 16.5 meters of 1.3% copper and 3.1 meters of 1.4% copper.
The Moura lead zinc silver belt has been known historically for its' strata-bound carbonate hosted mineralization. However, recently volcanogenic hosted massive sulphide (VHMS) features have been recognized and it is this VHMS style of mineralization that is associated with the copper values at Enfermarias.
The first hole at Machados is now complete and logging and sampling of the core is underway.
Quality Control and Assurance
Joan McCorquodale, P.Geo, a consultant to the Company and a "qualified person" as defined by National Instrument 43-101 ("NI 43-101"), 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 and 100% interest in its Moura Licence in Portugal, the Company holds a 100% interest in two projects in the historic Bergslagen mining district of southern Sweden.
NORTHERN LION GOLD CORP.
John Lando, President.
For information with respect to Northern Lion or the contents of this news release, please contact John Lando or Don Flahiff at (604) 669-2701, toll free at 1-800-663-0510, or email to firstname.lastname@example.org.
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
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