South Orogrande Property Abandoned Drill Hole

VANCOUVER – Gold Lion Resources Inc. reported on the final results of abandoned drill hole SO-01 on it’s South Orogrande Property which was stopped short of intersecting its target, due to drilling challenges. The hole was drilled at a shallow dip of -45° and was designed to test the newly defined Horseshoe Bend target located within the Property’s X Zone. The hole was prematurely terminated by the contractor at 881 feet (269 meters), approximately 1000 feet (305 meters) short of the planned target depth. The final 72.2 meters of the hole intersected 0.15 g/t gold from 196.29 meters to 268.53 meters and ended in increasing levels of mineralization and quartz-sericite-pyrite alteration with depth.

The inaugural drilling program on the property was challenged by a large wildfire, severe supply chain disruptions and a lack of labor market participation brought on by the Covid-19 pandemic. The Company had planned for a 4-hole drill program on the Property, but the drilling company which was contracted was unable to provide suitable drilling equipment and personnel and drilled just one hole to half of its target depth.

Despite being stopped short of the IP geophysical target, encouragingly, the hole displayed increasing amounts of alteration and sulfide mineralization with depth, supporting the validity of the target.

Chris Paul, CEO, said, “The Covid-19 pandemic, supply chain disruptions and lack of available drill contractors, combined with a very bad wildfire season, hindered our ability to drill test the Orogrande Shear Zone in 2021. Despite not being able to complete our planned four-hole program, a single hole was still able to test the alteration halo surrounding the Orogrande Shear Zone and returned encouraging gold values over a broad 72-meter interval. The unexpectedly large alteration halo provides promise for the potential of the Orogrande Shear Zone itself, which is associated with gold-in-soil values well exceeding those intersected in hole SO-01. A review of the target in 3 dimensions, as posted on the Company’s website, provides clear guidance for follow-up drilling on this favorable target. The Company is currently evaluating its plans for 2022 in which it anticipates being fully permitted for drilling on Erickson Ridge as well.”