Northern Lion Gold Corp.

Northern Lion Gold Corp.

March 02, 2007 10:30 ET

Northern Lion Gold Corp.: Initial Data Review Identifies High-Grade Silver at Moura Exploration Licence, Portugal

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2007) - Northern Lion Gold Corp. (the "Company") (TSX VENTURE:NL)(FRANKFURT:N3E) has now completed the initial compilation and modeling of historical exploration data on its Moura exploration licence, located in southeastern Portugal, approximately 180 km east-southwest of Lisbon.

The Company's initial review of the licence has revealed the presence of at least 13 significant zinc-lead occurrences. The most important of these is the carbonate-hosted Preguica deposit, which was estimated in the 1960s by Compagnie Royalle Austrienne des Mines, to contain one million tones ("Mt") averaging 8% zinc and 2% lead (this estimate predates National Instrument 43-101 ("NI 43-101") and was not prepared in accordance with its requirements).

The most important of the other known mineral occurrences is the Louzeiras prospect, located in the Vale de Vargo antimony-lead-silver belt, in the southwestern part of the licence. It is an under-explored, high-grade silver prospect, discovered in the 1960s by SFM, the Portuguese government exploration authority.

Details of the Louzeiras Prospect

The Louzeiras prospect occurs within folded Ordovician dolomitic carbonates and acid and basic volcanic rocks. It was identified by follow-up drilling and trenching by SFM on a 2.5 km by 200 to 400 metre-wide surface geochemical anomaly. Earlier soil sampling of the anomaly had returned significant values for antimony (10 to 840 parts per million ("ppm")); lead (40 to 11,800 ppm); zinc (150 to 8,000 ppm); and copper (30 to 1,400 ppm).

The SFM work exposed a narrow, irregular-shaped "vein" of a dense, yellow secondary mineral identified as bindheimite that was accompanied by tennantite. An analysis of the bindheimite by SFM yielded a silver value of 2,711.2 grams per tonne ("g/t").

In 1986, Rio Tinto cut nine trenches across this occurrence, over a distance of about 80 metres, the best samples from which produced a weighted silver value of 187.1 g/t over an average width of 1.53 metres. In addition, a 40 kilogram composite sample of the bindheimite mineralization from the cross-trenches produced a silver value of 1,367.0 g/t. Prospecting to the northwest of the trench, within the geochemical anomaly, resulted in discovery of bindheimite float, with two samples returning silver values of 744 g/t and 370 g/t.

The presence of an extensive geochemical anomaly in a favorable geological setting, comprising hydrothermally altered, dolomitic carbonates exposed along an anticlinal axis, indicates that significant mineral potential exists and that additional exploration is warranted.

Other Exploration Targets

In addition to the Preguica deposit and Louzeiras prospect, the Company's exploration of the Moura licence will focus on:

- The Enfermarias deposit, a stratabound lead/zinc deposit in the northern part of the licence area, estimated in the 1980s by SFM to contain 4.57 Mt grading 3.5% zinc and 0.8% lead, and open for extension. This estimate predates NI 43-101 and was not prepared in accordance with its requirements; and

- Vila Ruiva, a mineralized zone with historical production from a small open pit of 12,694 tonnes grading 42% zinc.

The Company will begin shortly ground work on these targets, as well as on its Cercal License, located within the prolific Iberian Pyrite Belt of Portugal.

In total, the Company now controls over 600 square kilometres under exploration licence in Portugal.

Quality Control and Quality Assurance

All exploration activities of the Company are under the direction of its Vice President, Exploration, John R. Fraser, P.Geo. (BC), who is a "qualified person", as defined by NI 43-101 of the Canadian Securities Administrators. Mr. Fraser is also responsible for the technical content of this news release.

Geological and exploration data and resources estimates contained herein are taken from historical records that predate NI 43-101. Although the Company has no reason to doubt the accuracy of this data, they are not compliant with the requirements of NI 43-101 and should not be relied upon. Drill intersections reported are believed to be core lengths and may not be the true width of mineralization.

About Northern Lion

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. The Company is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Europe.


John Lando, President

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

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