North Vancouver, British Columbia--(Newsfile Corp. - September 5, 2017) - Lion One Metals Limited (TSXV: LIO) (ASX: LLO) (OTCQX: LOMLF) (FSE: LY1) (the "Company") is pleased to announce the appointment of Mr. Kevin Li, P. Eng. as Project Manager for the Company's 100% owned and fully permitted Tuvatu Gold Project located on the island of Viti Levu in the Republic of Fiji.
Mr. Li joins Lion One after serving three years as Project Controls Manager at Pretium Resources Inc. for the construction of the $1 billion Brucejack gold project in northern British Columbia. For Lion One, Mr. Li will oversee the design and fabrication of the Tuvatu processing plant, to be built in in China to North American and Australian engineering specifications, and its subsequent shipment, construction, and commissioning at the Tuvatu mine site in Fiji.
Mr. Li's career spans over 30 years with extensive experience in heavy industrial project and construction management. Mr. Li's previous experience also includes positions as the Project Manager at Monument Mining for the construction of the Selinsing gold mine expansion in Malaysia, Senior Project Scheduler at SNC-Lavalin for Barrick Gold's Pueblo Viejo gold mine in the Dominican Republic and SaskPower's Yellowhead power plant in Saskatchewan, Project Controls Manager at Fluor Canada on the Sulfolix Copper Mine in Chile, and over 13 years as the Civil and Structural Engineer and Project Manager at China's Dongfang Electric Corporation.
Lion One also announces the following progress updates for current work in the development of Tuvatu:
Completed evaluation of the Engineering, Procurement, and Construction (EPC) proposals. Contract to be awarded following final negotiations with remaining EPC candidates in China;
Ongoing evaluation of bulk earthworks construction proposals. Contract to be awarded as soon as possible to enable completion of run of mine (ROM) stockpile facility prior to end of 2017 dry season;
Ongoing evaluation of Underground Contract Mining proposals. Contract to be awarded as soon as possible to enable significant preproduction mining and stockpiling of ROM material prior to mill commissioning;
Tuvatu Analytical Laboratory tendered for construction, to be located at Lion One compound, 16 km from mine site for expedited exploration and grade control sample assaying.
"We welcome Kevin Li to Lion One's management and senior technical team as we transition into the development and construction phases of the Tuvatu Gold Project," said Lion One CEO Walter Berukoff. "Kevin brings the highest pedigree of skills and experience in project management and his fluency in Mandarin will be invaluable in helping Lion One navigate the critical path to production. We expect to complete the funding of the project once the contracts for development are finalized. In addition to funding from Ansteel (see news release dated August 24, 2016), the Company is also considering other possible funding opportunities. We expect to award these contracts and complete the requisite funding imminently, and will provide further guidance regarding development schedules once finalized."
About Tuvatu | Lion One | Fiji Gold
Lion One is aggressively advancing its 100% owned Tuvatu Gold Project as a world class discovery and near-term production opportunity in the southwest Pacific Ring of Fire. Tuvatu is modeled for exploration after regional giants in the low sulphidation family of high grade epithermal gold deposits such as Porgera and Lihir in PNG, and Vatukoula in Fiji. These spectacular discoveries have produced over 35 million ounces of gold in similar alkaline volcanic settings. Tuvatu has been fully permitted by the Government of Fiji for operations startup and has a dual-track strategy of production development and resource expansion inside its 385 hectare mining lease.
Tuvatu is located 25 km from the international airport in Nadi, on the west coast of Viti Levu in the Republic of Fiji. Lion One's CEO Walter Berukoff leading an experienced team of mine builders, has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
Ian Chang, M.A.Sc., P.Eng., Chief Development Officer, is the Qualified Person ("QP") responsible for Tuvatu Mine development.
For more information on Lion One including technical reports please visit the Company's website at www.liononemetals.com or the SEDAR website at www.sedar.com.
On behalf of Lion One Metals Limited
"Ian I Chang"
Chief Development Officer
For further information please contact
Hamish Greig, Vice President (North Vancouver, BC) Tel: 604-973-3008
Joe Gray, Investor Relations (North Vancouver, BC) Tel: 604-973-3004
Toll Free IR Line (North America) Tel: 1-855-805-1250
Email: [email protected]
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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.