Northern Lion Gold Corp.
TSX VENTURE : NL

Northern Lion Gold Corp.

November 03, 2005 12:02 ET

Northern Lion Gold Corp.: Haveri Modeling Nears Completion-Regional Exploration Generates Gold Targets

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 3, 2005) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Northern Lion Gold Corp. (the "Company") (TSX VENTURE:NL) reports on exploration activity at its Haveri gold project and in the extensive Tampere Schist Belt ("TSB"), both located in southwestern Finland.

Work on the development of a new resource model is well developed at Haveri; while an ambitious regional program of grass-roots exploration of the TSB has demonstrated an ability to predict the location of anomalous gold targets using geophysical signatures derived from known gold deposits in the area. This exploration approach has also yielded several promising new targets in the area of the Haveri gold deposit.

Northern Lion President, John Lando commented: "Haveri has proved to be a geologically-complicated gold system, but we are confident that the current, detailed analysis of our extensive exploration work will unlock some of its secrets. Separately, we are very excited by the results of our TSB sampling program. On the basis of these results, we have acquired a significant stake in what looks to be a highly-prospective, regional gold system."

Haveri Project Modeling

Following completion of its 2005 exploration program at its 100% owned Haveri gold project, the Company has now undertaken a comprehensive program of deposit modeling to provide a better understanding of the complex geological and mineralizing environment at Haveri. The program will analyze closely the large Haveri database that has been compiled since exploration activities commenced in mid-2003. The results of this study will be used to guide future drilling and resource development campaigns. This work is well advanced and is expected to be completed this month.

TSB Regional Exploration

Since March, 2004, the Company has been engaged in a program of regional gold exploration in the Tampere Schist Belt. The objective of this work was to identify and investigate targets which exhibit distinct geophysical and geochemical signatures similar to those of the Kutemajarvi (Orivesi) and Haveri gold deposits.

Based on this work and follow-up till and rock sampling, a total of 37 targets has now been identified in areas underlain by felsic and intermediate bedrock units over a distance of 120 kilometers, from Jamijarvi in the west to Langelmaki in the east. In the course of this exploration, the Company has acquired 19 claims, encompassing 1092.9 hectares, and has applied to the Ministry of Trade and Industry for an additional 8 claims.

To date, initial field work has been completed on 15 of the 37 targets. Analytical results have been received for the soils and rocks collected from 11 targets and 8 have yielded anomalous gold values, which suggest the presence of nearby mineralized bedrock units. Detailed follow-up investigations are underway on 4 of the 8 targets.

On the most advanced target, a 20 to 25 metre-thick unit of altered quartz- and pyrite-rich felsic rock has been followed along strike for a distance of approximately 200 meters. Gold values to 0.5 ppm have been encountered in both till and bedrock samples. Further work is currently underway to identify areas of potential economic interest.

New Targets at Haveri

Using the same search criteria, geophysical signatures similar to those identified within the TSB have also been noted in the Ansomaki and Monkanmaki (Eronen) areas of the Haveri gold property. The two areas are located, respectively, 0.7 kilometers southeast and 2.3 kilometers south-southeast of the Haveri open pit:

The Ansomaki Anomaly: Initial till sampling (45 samples) at 15 meter intervals on four east-west lines 50 to 100 meters apart over the anomaly yielded gold values ranging from less than 10 parts per billion ("ppb") to 4473.4 ppb. The highest value was obtained from the western-most sample on a line that produced other anomalous samples. In-fill sampling on this line at 5 meter intervals produced additional anomalous values, resulting in a continuous series of four samples with gold values of 141, 843, 399, 4473 and 96 ppb over a distance of 20 meters. These results, when combined with available geological information, strongly suggest the presence of nearby, sub-cropping gold mineralization.

Follow-up till sampling, on 50 meter centers, over the shallow overburden portion of the Ansomaki (hill) area (estimated 250 samples) has been completed and the samples forwarded to the laboratory. Excavation of trenches to expose bedrock in the vicinity of the anomalous till samples has also been completed and sampling is currently underway.

Monkanmaki (Eronen) Anomaly: Till sampling on approximately 50 metre-centers over an area some 200 meters wide by 300 meters long has yielded anomalous gold values (from greater than 5 ppb to 68.6 ppb) in a north-trending zone that is roughly coincident with previously defined SP and HLEM geophysical anomalies. Three samples of bedrock collected from excavated trenches in the immediate vicinity have also yielded elevated gold values (greater than 20 ppb). Additional, detailed till and bedrock sampling will be undertaken in order to define potential drill targets.

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), the Company's Vice President, Exploration, a "Qualified Person" as defined by National Instrument 43-101. The samples of till and rock (7.5, 15 or 30 gram sub-samples) referred to in this news release were analyzed for 37 elements by Acme Analytical Laboratories Ltd., Vancouver, utilizing aqua regia digestion and the ICP-MS analytical method.

About Northern Lion

Northern Lion Gold Corp. is a Canadian based mining company which owns 100% of the Haveri gold project, a past gold producer in southern Finland, and also owns a large number of exploration claims in the Tampere Schist Belt of southern Finland, a mining-friendly and infrastructure-rich member of the European Union. The Company is well funded to carry on additional work to further define the Haveri gold deposit, and to further explore other areas within the Tampere Schist Belt for additional gold deposits.

NORTHERN LION GOLD CORP.

John Lando, President.


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