VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2012) - Lion One Metals Limited (TSX VENTURE:LIO)(OTCQX:LOMLF)(FRANKFURT:LY1) (the "Company" or "Lion One") is pleased to announce the appointment of Mr. Stephen Thomas Mann to the Company's Board of Directors.
Mr. Mann is currently the Managing Director of Avocet Resources Limited (formerly U3O8 Limited) in Perth, Australia. Since joining Avocet in 2006 he has been credited with the discovery of the Dawson-Hinkler uranium deposit in Western Australia, and for negotiating and coordinating the sale of that asset to Toro Energy Limited in December of 2010. Mr. Mann also manages Avocet's precious metals and uranium exploration portfolios in Argentina.
From 1999 until 2006, Mr. Mann was Managing Director of Cogema Australia Pty Ltd/AREVA in Perth, Australia, reporting directly to the Head Office in France. At AREVA, he discovered the Frogs Leg Gold Deposit and initiated the commencement of mining at both the Frogs Leg Gold Deposit and the White Foil Deposit. Mr. Mann was credited with the discovery of the +1 million ounce White Foil Gold Deposit, while in the role of Exploration Manager/General Manager for Afmeco Pty Ltd/Mines and Resources Australia Pty Ltd in Perth, from 1994 to 1999.
Previous experience also includes positions as Senior Exploration & Resource Definition Geologist for Newcrest Mining Limited at the Tuckabianna Gold Mine in Western Australia from 1992 to 1994, and Senior Geologist for Newcrest from 1990 to 1992. From 1985 to 1990 he held various positions as Senior Geologist and Geologist for BHP Minerals in Kalgoorlie, Perth and Adelaide, Australia, where he led the teams responsible for the discoveries and drill out of the Zulieka gold deposit, and Cadjebut, Twelve Mile Bore, and other associated base metal deposits. Mr. Mann was also a Geologist for General Electric's exploration company; Utah Development Company based in Adelaide, South Australia from 1982 to 1985. Mr. Mann received his Bachelor of Science in Geology (with honors) from the University of Adelaide, South Australia in 1981.
"We are most pleased to have Stephen join our board," said Walter H. Berukoff, Chairman of the Lion One board. "As the Tuvatu Project progresses to the development and pre-production stages, his knowledge and experience will be extremely valuable to us. He has both the professional credentials and the direct experience in developing and operating mines that are essential to us at this time."
The Company also wishes to announce the grant of 875,000 options to various directors, officers, and employees. The stock options are exercisable for common shares of the Company at a price of $0.70 per share and expire five years from the date of grant, vesting over a period of three years. Total issued and outstanding shares in the capital of the Company to date are 48,868,827.
About Lion One Metals Limited
Lion One Metals is a gold exploration company focused on the redevelopment of the Tuvatu Gold Project on the island of Viti Levu in Fiji. Tuvatu lies in the highly mineralized Pacific Islands Arc which hosts many of the significant gold and copper projects in the world, including the 11 million ounce Vatukoula gold deposit located only 40 kilometers to the north. The Tuvatu Project currently contains a mineral resource of 652,000 ounces gold (consisting of 172,000 oz. Au indicated, 480,000 oz. Au inferred).
On Behalf of the Board of Directors
Hamish Greig, Vice President
Lion One Metals Limited
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 labor 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.
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.