Northern Lion Gold Corp.
TSX VENTURE : NL
FRANKFURT : N3E

Northern Lion Gold Corp.

November 06, 2006 14:07 ET

Northern Lion Gold Corp.: 2006 Exploration Discovers Gold in Bedrock at Ansomaki

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 6, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Northern Lion Gold Corp. (the "Company") (TSX VENTURE:NL)(FWB:N3E)reports on the results of its 2006 exploration program in the Ansomaki area of its Haveri Gold Project, located in southwestern Finland, approximately 175 km northwest of Helsinki.

The Ansomaki area comprises a small hill, with relief of about 55 metres, situated about one kilometre south of the Haveri mine. Previous till sampling of the area had returned significant gold values, derived from large numbers of gold grains. The 2006 program of shallow drilling has succeeded in demonstrating the presence of significant gold in bedrock at Ansomaki.

The Company is compiling these results, together with the exploration data amassed on its Haveri Gold Project, with a view to the possible future joint venture exploration of the combined area.

Previous Exploration at Ansomaki

In 2005, exploration at Ansomaki identified a 13 hectare area within which anomalous gold values, ranging from 76 parts per billion ("ppb") to in excess of 3,981 ppb (3.98 grams per tonne ("g/t")), were obtained from till samples collected just above the underlying bedrock surface. Gold content exceeded 1.07 g/t in two distinct zones, designated the North and South Zones, that were separated by about 250 metres.

Subsequent till sampling at two metre intervals along a 100 metre-long line in each of the two zones returned gold values of 6.7 g/t, 8.0 g/t and greater than 100 g/t, with 23 others containing greater than 1 g/t. Three large (10 litre) samples of till collected from the two lines yielded, when processed by panning, a large number of grains of gold ranging in size from 0.01 to 2.0 mm. Two samples from the North Zone returned 175 and 2,250 gold grains, while the sample from the South Zone returned a significantly greater number of similar grains.

2006 Percussion Drilling and Trenching

In order to better understand the distribution of gold in bedrock at Ansomaki, in early 2006, the Company embarked upon a program of rock channel sampling and shallow (to 40 metres depth) percussion drilling. A total of 44 holes were drilled in the two zones, and generally 2 or 3 holes were collared in a radial fashion at each site.

Results from this program follow:

North Zone

The zone was tested by 28 percussion holes within an area 160 metres by 250 metres. In addition, three sawn bedrock channels, oriented north-south and 10 metres to 65 metres apart, were completed, for a total length of 255 metres.

Assay results from the work indicate that gold is concentrated, in amounts greater than 1 g/t, to a maximum of +28 g/t, along the contacts of an east-west trending, north dipping quartz feldspar porphyry intrusive, 15 metres to 20 metres in width, which has been traced for a distance of about 120 metres.

The best mineralized intervals (5 metre composite samples) obtained from the percussion drilling yielded 9.84 g/t and 5.25 g/t from two holes (AP-09, AP-14) located about 40 metres apart. Significantly, the holes were collared 10 to 20 metres up-ice from the source of the earlier till samples that contained large numbers of gold grains. Ground magnetic surveying indicates that the porphyry, which is expressed as a magnetic low, is open to the west.

South Zone

The zone was tested by sixteen percussion holes, and two trenches with a total length of 160 metres, within an area 180 metres by 180 metres. The exploration returned gold values consistent with those encountered in the North Zone, with the maximum being 1.8 g/t over 5 metres from hole AP-31.

Quartz feldspar porphyry was not observed but the magnetic low signature would suggest that it may be present, but at depth, along strike to the northeast and southwest. The source of the gold grains present in the till sample collected from this zone has not been determined.

Quality Control/Quality Assurance

All exploration activities in Finland are supervised by Henrik Wik, M.Sc. (Geology and Mineralogy), under the direction of John R. Fraser, P.Geo.(BC), Vice President, Exploration, for Northern Lion, a "Qualified Person" as defined by National Instrument 43-101. The samples of rock from the percussion drilling and associated trenching discussed in this release were analyzed by the Geological Survey of Finland (Method 705P: fire assay with ICP-AES finish, 50 g sample) at the Rovaniemi laboratory facility. Mineralized intervals reported are down hole intervals and may not be representative of the true width of mineralization.

About Northern Lion Gold Corp.

Northern Lion is a Canadian mineral exploration company, listed on the TSX Venture Exchange and the Frankfurt Exchange. It owns 100% of the Haveri gold project, a past gold producer in southern Finland, and holds several strategically-located concessions within historical mining camps in Sweden.

The Company is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Scandinavia and has commenced exploration of a mineral exploration license over an extensive area of the prolific Iberian Pyrite Belt, in southern Portugal.

The Company is well funded to continue to define and explore its existing projects.

NORTHERN LION GOLD CORP.

John Lando, President.


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

Contact Information

  • Northern Lion Gold Corp.
    John Lando
    President
    (604) 669-2701 or Toll Free: 1-800-663-0510
    or
    Northern Lion Gold Corp.
    Don Flahiff
    (604) 669-2701 or Toll Free: 1-800-663-0510
    (604) 687-4670 (FAX)
    Email: info@northernliongold.com
    Website: www.northernliongold.com