Acquisition Of The Chaco Bear Property And Ashton Property

VANCOUVER - Lion Copper and Gold Corp. have closed the option agreement with Houston Minerals Ltd. pursuant to which Houston agreed to grant to the option to acquire a 100% interest in the Chaco Bear Property and the Ashton Property which are located in British Columbia.

The Chaco Bear Property is located in northern British Columbia, within the Stikine Terrane and hosted in similar rock formations as the Eskay Creek deposit, a precious metals volcanogenic massive sulphide (VMS) deposit in the Golden Triangle of British Columbia that was in production from 1994 to 2008. The Ashton Property is located within the Spences Bridge Group, a narrow, northwest-trending belt of early cretaceous volcanic rocks covering nearly 3,200 square kilometers from Princeton to Lillooet in British Columbia that are highly prospective for epithermal style gold mineralization.