VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 12, 2014) - Northern Lion Gold Corp. (the "Company") (TSX VENTURE:NL)(FRANKFURT:N3E) and the Company's joint venture partner, Centerra Gold (KB) Inc., a subsidiary of Centerra Gold Inc. (collectively "Centerra") announces the completion of its 2014 surface exploration program within the Optioned Permits in the Republic of Cyprus. This program was designed to follow up on the discovery of new volcanogenic-hosted massive-sulphide-(VHMS)-related mineralization in the 2013 drill program that was conducted with Centerra. Drilling in 2013 discovered a debris flow of transported VHMS-related material ranging in estimated true thickness from 6.0 to 14.05 metres ("m") and returned 14.05 m averaging 2.12 grams per tonne (g/t) gold, 16.91 g/t silver, 0.54% copper and 3.25% zinc in hole MVDD13-02 (reported Jan. 22, 2014).
The surface exploration project at Mavroyi began in March of this year and was composed of detailed mapping of the area and a ground geophysical programme which consisted of gravity and Induced Polarzation ("IP") surveys over the prospective area. As well, data from previous geophysical surveys; the 2011 Versatile Time-Domain Electromagnetic survey, flown by Geotech Airborne Malta (reported December 7, 2011), and the 2013 AMT survey data (reported October 10, 2013) was also revisited and reprocessed. A compilation of all of the geophysical data was completed and reinterpreted.
An IP and ground magnetic survey was also conducted at Pano Lefkara.
The resulting geophysical understanding has been combined with the geology and geochemistry and targets have been defined for an upcoming diamond drill program which is expected to commence in late June. The 2014 exploration program is being funded by Centerra.
Company President and CEO, John Lando commented: "We are approaching another very exciting drill program with our partner Centerra Gold. The systematic exploration that we have undertaken in Cyprus to date has validated many of the concepts we have put forward regarding the potential for Gold mineralization associated with these VHMS deposits of Cyprus. Our goal with this drill program is to identify the buried massive sulphide body related to the debris flow discovered last summer at Mavroyi."
Under an option agreement, Centerra has the right to acquire up to 70% interest in several exploration permits located in the Paphos and Larnaca Districts (the "Optioned Permits"). The Company, through its Cypriot subsidiary Katla Exploration Ltd., is the operator during the first year of the option agreement, following which Centerra may elect to assume operatorship (reported May 14, 2013).
Quality Control and Assurance
The Company's field activities in the Republic of Cyprus are under the direction of Robert Johnston, P.Geo. (BC), a consultant to the Company and "qualified person", as defined by National Instrument 43-101 ("NI 43-101"). Mr. Johnston is responsible for the technical content of this news release.
About Northern Lion
Northern Lion is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Europe. Northern Lion currently has a number of exploration permits in the Republic of Cyprus and is pursuing other opportunities within the region.
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, exploration plans of the Company, including the time thereof, 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; risks arising as a result of the Company operating in Cyprus; the ability of the Company to obtain additional financing; including through Centerra funding exploration and development activities pursuant to the option agreement; 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.
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