Northern Lion Gold Corp.

Northern Lion Gold Corp.

January 09, 2008 13:15 ET

Northern Lion Announces Advisory Agreement with Union Securities

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2008) - Northern Lion Gold Corp. (the "Company") (TSX VENTURE:NL)(FRANKFURT:N3E) has entered into an agreement (the "Agreement") with Union Securities Ltd. ("Union") for the provision of consulting and advisory services to the Company, including a review and evaluation of the Company's exploration properties, investment and financing advice, market evaluation and brokerage and finder services.

Under the Agreement, which has a one-year term, Union will receive as an advisory fee for past services non-transferable warrants to purchase up to 250,000 common shares of the Company at a price of $0.50 per share for a period of 24 months. If, during the term of the Agreement, the Company closes a treasury offering of shares at a price of at least $1.00 per share (the "Financing Price") to raise gross proceeds of at least $5 million, Union will receive non-transferable warrants to purchase an additional 250,000 common shares of the Company for a period of 24 months. The exercise price of the warrants will be the greater of the Financing Price and the market price of the Company's common shares. The Company will also pay Union's reasonable fees and expenses incurred in connection with providing the services.

The Agreement is subject to TSX Venture Exchange approval.

Proceeds received by the Company upon the exercise of warrants will be used to fund on-going work programs on the Company's properties and for general working capital.

About Northern Lion

Northern Lion Gold Corp. is a Canadian mineral exploration company, listed on the TSX Venture Exchange and the Frankfurt Exchange. The Company is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Europe. It has approximately 31 million shares issued, $5.0 million in cash and a further $5.2 million in marketable securities.

In addition to the Cercal and Moura licences in Portugal, the Company holds a 100% interest in seven projects in the historic Bergslagen mining district of southern Sweden. These properties were acquired in 2006, and data compilation and review and limited soil sampling have been completed in preparation for field work. The Company also holds a 100% interest in the Nynasberget gold prospect, which was acquired in the Jamtland region of central Sweden.


John Lando, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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