Lions Gate Assigns Whitford Lake Property to Canadian Uranium Corp.

Lions Gate Assigns Whitford Lake Property to Canadian Uranium Corp. 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/17/13 -- Lions
Gate Metals Inc. (TSX VENTURE:LGM) ("Lions Gate" or the "Company") is
pleased to announce that it has entered into an assignment agreement
with an arm's length purchaser for the Whitford Lake Uranium Project
in the eastern Athabasca Basin. 
Under the terms of the assignment, Canadian Uranium Corp., a private
British Columbia company, can earn a 100% interest in the Whitford
Lake Option Agreement by issuing to Lions Gate 4,500,000 common
shares of Canadian Uranium and paying an aggregate of $520,000 on or
before March 31, 2014. As part of its capitalization strategy,
Canadian Uranium Corp. intends to list its shares for trading on the
CNSX, Canada's fastest growing stock exchange.  
The directors of Lions Gate Metals are extremely pleased with this
disposition as it facilitates the exploration of the Whitford Lake
Project while maintaining a significant upside for its shareholders.  
About the Whitford Lake Project. 
The Whitford Lake Project covers an area of 67ha, some 21km SE of the
Cigar Mine on the eastern edge of the Athabasca Basin, the most
productive uranium region in the world. Other claimholders in the
area include Fission Energy, Purepoint Uranium, Denison Mines and
Cameco Corporation. The primary target at Whitford Lake is two
northeast, parallel magnetic contacts, between which lies a zone of
subsurface resistivity, with a strike of roughly 750m. Drilling at
Whitford Lake by Cameco in 1995 identified a zone of altered
sandstone, beginning approx. 30m above the unconformity, enriched
with chlorite and illite, which is indicative of hydrothermal
activity. In addition, elevated lead levels below the unconformity
have also been identified. All of these enrichments are key
exploration indicators for uranium exploration in the Athabasca
basin. In 2013, Lions Gate identified through a ground IP survey a
moderate low-resistivity feature located at 200 m depth increasing to
340 m depth towards the east which forms the highest priority target
on the project. For more information regarding the results of the
ground survey, please refer to the news release dated September 13,
2013. 
Sincerely on behalf of the Board of Directors,  
Arni Johannson, CEO & Chair, Lions Gate Metals Inc. 
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR
INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT
INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS
REGARDING FUTURE PLANS AND OBJECTIVES OF THE COMPANY ARE
FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND
UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL
PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD
DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS.
IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE
AVAILABILITY OF CAPITAL AND GENERAL ECONOMIC, MARKET OR BUSINESS
CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY
APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN
THE FILINGS MADE BY THE COMPANY. ACCORDINGLY, READERS ARE ADVISED NOT
TO PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS OR INFORMATION.
Contacts:
Lions Gate Metals
Blair McIntyre
Exec VP of Lions Gate Metals
(778) 837-6812
 
 
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