Lion One Metals Limited

Lion One Metals Limited

December 19, 2013 21:57 ET

Lion One Announces Results of AGM and Appointment of New Managing Director

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2013) - December 19, 2013. Lion One Metals Limited (TSX VENTURE:LIO)(FRANKFURT:LY1)(OTCQX:LOMLF)(ASX:LLO) (the "Company") is pleased to announce the voting results from its Annual and Special General Meeting ("AGM") held on December 11, 2013 in North Vancouver, British Columbia.

A total of 39,004,567 common shares were voted at the meeting representing 64.82% of the votes attached to all common shares. Shareholders voted in favor of all items placed before the AGM, including the motion to reappoint Davidson & Company Chartered Accountants LLP as auditors of the Company for the fiscal year ended June 30, 2014, at a remuneration to be fixed by the board. Voters approved the Company's stock option plan, and approved the motion to fix the number of directors at seven. Voters reelected all seven incumbent director nominees: Walter Berukoff, Richard Meli, David Duval, George S. Young, Hamish Greig, Stephen Mann, and Kevin Puil.

Following the AGM the board of directors reappointed the following executive officers: Walter Berukoff as Chief Executive Officer, Samantha Shorter as Chief Financial Officer, Stephanie Martel as VP Administration, and Hamish Greig as VP and Corporate Secretary. The board also appointed independent directors Richard Meli, David Duval, and Kevin Puil to the audit committee.

The board also appointed Stephen Mann as the Managing Director of the Company. Mr. Mann is a professional geologist with over thirty years' industry experience in mineral exploration and mine development with companies such as Utah Development Company, BHP Minerals, and Newcrest. Prior to joining Lion One he was Managing Director at Cogema Australia/AREVA from 1994 to 2006 where he was credited with the discovery, development, and initiation of mining at the White Foil and Frogs Leg gold mines in Western Australia. From 2006 to 2013 Mr. Mann was the Managing Director of Avocet Resources Limited in Perth, Western Australia. He holds an honors degree in Geology from the University of Adelaide.

The Company also announces that George S. Young has resigned as President of the Company. Mr. Young remains on the board and will continue to focus on business development opportunities for the Company. The Company wishes to thank Mr. Young for his contributions as President, particularly during its initial listing on the TSX Venture Exchange and through subsequent private placement financings.

About Lion One Metals Limited

Lion One Metals Limited is a Canadian resource company focused on the acquisition, exploration and development of mineral projects worldwide. In June 2013 Lion One merged with Avocet Resources of Perth, Australia, and is focused on advancing the Tuvatu Gold Project in Fiji, the Olary Creek Iron Ore Project in South Australia, and additional exploration-stage projects in Fiji, Australia, and Argentina.

On Behalf of the Board of Directors

Walter H. Berukoff, Chairman of the Board, Lion One Metals Limited

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.

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.

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