January 24, 2019, North Vancouver, BC – Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX:LLO) (“Lion One” or the “Company”) is pleased to announce that construction of the new Lion One Geochemical Assay and Metallurgical Laboratory building is nearing completion. The lab is located at the Company’s Fijian headquarters, 1km from the Nadi International Airport on the island of Viti Levu in the Republic of Fiji. Construction of the laboratory building commenced in early 2018 with local contractors and will service the Company’s Tuvatu Gold Project located 17km away in the nearby Sabeto Valley.
The Company plans to start the commissioning process in Q2 2019 as soon as the current installation of the fume collection system is completed. Lion One has hired a highly experienced Laboratory Manager and team of laboratory technicians from Fiji to operate the facility, supporting the creation of five new full time positions.
The new laboratory will be equipped for gold analysis by fire assay with atomic absorption spectrometry (AAS) finish. A large range of other elements will be assayed by Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES). The facility will also be utilized to conduct metallurgical optimization test work including flotation and leaching. Fiji does not currently have any commercial laboratory facilities for geochemical and metallurgical analysis, so the Company plans to have the laboratory internationally certified for commercial operations in the near future to service local industries.
Lion One Managing Director Stephen Mann commented “The new facility will greatly reduce costs and return times on geochemical and metallurgical sampling results. Currently the return times on average take 4 to 6 weeks with samples sent to Australia or Canada at a significant cost that included other logistics such as customs clearance, freight, transport, and analysis. The Company will soon be able to benefit from 24-48 hour turnaround on results, greatly enhancing planning and direction of future exploration, mine planning, and metallurgical work at the Tuvatu Gold Project.”
About Lion One
Lion One Metals Limited is a Canadian exploration and development company focused on advancing its 100% owned and fully permitted Tuvatu Gold Project towards production. Lion One envisions a low-cost high grade underground gold mining operation with district-scale exploration upside, located near the Nadi International Airport on the island of Viti Levu in the South Pacific island nation of Fiji.
Additional information about Lion One including NI 43-101 technical reports for the Tuvatu Gold Project is available at www.liononemetals.com and at www.sedar.com.
On behalf of the Board of Directors of Lion One Metals Limited
“Walter Berukoff”
Chairman & CEO
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
