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GOLD LION ACQUIRES OPTION TO MIA LI-3 LITHIUM PROJECT IN THE JAMES BAY REGION OF QUEBEC

Vancouver, British Columbia, Feb. 03, 2023 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) announces that it has acquired the rights to a property option agreement (the “Option Agreement”) dated as of December 18, 2022 pursuant to which it has the option to acquire a 100% interest in 57 mining claims covering approximately 2,950 hectares in the James Bay region of Quebec (the “Mia Li-3 Lithium Project”).

MIA LI-3 LITHIUM PROJECT

The Mia Li-3 Lithium Project is located approximately 15 km northwest of Q2 Metals Corp.’s (“Q2”) Mia Li-1 and Mia Li-2 projects (the “Mia Li-1 & 2 Projects”) in the James Bay region of Quebec. The Mia Li-3 Project is also directly adjacent to ground newly acquired by Q2 and presents a favourable opportunity for exploration on the same trend. Historical work by Main Exploration Company Ltd. in 1959 (GM10200) reported several spodumene-bearing pegmatites on the Mia Li-1 & 2 Projects.

The westernmost mineral showings of the Mia Li-1 & 2 Projects were sampled in 1997 by Quebec government geologists and assays returned grades of 0.47% Li2O and 2.27% Li2O respectively. Numerous pegmatite intrusions have been recorded along the 8.3 km long trend but were never followed up for their lithium potential. The 1959 report also details that the pegmatite dykes are as much as 100 feet (30.5 metres) in width and are commonly zoned, with spodumene crystals described as being as much as 2 feet (0.61 metres) in length. The southern half of the Mia Li-1 & 2 Projects covers a northeast limb of the Vieux Comptoir granite and a concordant intrusive body described as a spodumene granite on SIGEOM, the Quebec provincial government's geomining information system.

Gold Lion’s Mia Li-3 Lithium Project also contains the Vieux Comptoir Granite unit, an undifferentiated granite package that may contain phases of pegmatitic granite, k-feldspar granite and spodumene granite.

This news release contains information about adjacent properties on which Gold Lion has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

The technical information contained within this news release has been reviewed and approved by Martin Ethier, Géo (#1520), a Member of the Order of Geologists of Québec and the Qualified Person for the purpose of this news release as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Ethier is considered independent of the Company within the meaning of NI 43-101.