Lion One Metals Ltd V.LIO

Alternate Symbol(s): LOMLF | V.LIO.WT

Metals & Mining Gold

Lion One Metals Limited is a Canadian gold producer. It is in the business of mineral exploration and evaluation and is focused on the development of mineral resources in Fiji. The Company is the owner and operator of the Tuvatu Gold Mine located on the island of Viti Levu in the Fiji Islands. The Tuvatu Gold Project has been fully permitted for development, construction, and mining by the Government of Fiji with the grant of a Special Mining Lease (SML 62). The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Property comprises four special prospecting licenses (SPL 62), with a total area of 20,170.5 hectares. It also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets. It holds four exploration licenses for the Tuvatu properties as granted by the mineral resources department.

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Lion One Metals Ltd

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Post by martinishakeron Feb 15, 2011 3:36pm

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Post# 18138209

TAVATU PROJECT IN FIJI

LION ONE METALS: TRANSFORMATION OF FIJIAN ECONOMY : CONTINUED…

WORK HAS BEGUN ON THE TAVATU PROJECT IN FIJI

Lion One Metals announces the commencement of exploration & development work on its TUVATU PROJECT, which it describes as the largest known gold deposit in the Fijian Islands. In excess of US $ 23 million dollars has been spent to date by Lion One Metals and the previous owner, the Emperor Gold Mines. Historical data reports several 100, 000 tonnes of ore, grading as high as 7.05 g/T, are indicated and inferred. In addition, approximately 60,000 meters of drill core, on site, are to be re-evaluated in view of the dramatic increase in metals prices .

Furthermore, a thorough examination of the 1630 meter ‘decline’ will be conducted in order to more accurately evaluate the geology and maximize the mine’s productive potential. At the time the operation was placed into a care and maintenance status, due to low gold prices, production costs were recorded as $ 185.02 (us) /oz. Gold.

Management also believes the parameters of the exploration/development program are expansive enough to examine other areas and styles of mineralization, identified on the leases, including those associated with copper-gold porphyry and VMS systems.

Note: Lion One is well funded and is spearheaded by a highly professional, highly experienced and successful mining team, led by Walter Berukoff and George Young.

IMPORTANT NOTE: Today’s very detailed news release can be found in the company’s excellent web site. The graphics are designed to give the investor a clear perspective of the TUVATU PROJECT, its location, as well as its proximity to Fiji’s infrastructure. www.liononemetals.com