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Lion One Provides Update for 2012 Work Programs at Tuvatu Gold Project, Fiji

Lion One Metals Limited (LIO.V) provided an exploration and development update for its Tuvatu Gold Project located near Nadi on the island of Viti Levu, Fiji.

The company will continue to test, confirm, and substantially expand historic exploration, 80,000 metres of previous drilling and metallurgical data from previous feasibility studies.

Management believes that the 12,166 hectare Tuvatu property has further resource potential beyond the resource area drilled to date.

"The company's geological and metallurgical programs carried out during 2012 overwhelmingly support the continued advancement of Tuvatu," said Walter H. Berukoff, Chairman and Chief Executive Officer. "In conjunction with further engineering and environmental studies, our objective for 2013 is to build a robust economic model and complete the permitting process for a high-grade gold mining operation in Fiji."

LIO shares climbed two cents to $0.73.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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