Vancouver, BC - TheNewswire - May 10, 2023 - Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE:GL) (OTC:GLIOF) (FWB:2BC) is pleased to announce the Company has appointed Mr. Mark Haywood as Chief Executive Officer. Mr. Haywood will help lead Gold Lion’s inaugural exploration campaign at its Mia Li-3 Lithium Project in James Bay, QC.

Mr. Haywood has over 25 years of mining industry experience and holds degrees in both Mining Engineering and Law. Mr. Haywood has held progressive career positions with Anglo Gold Ashanti, Goldfields, IAMGold, Ivanhoe, BHP and Placer Pacific at various open-pit and underground mining operations around the world, including leadership positions of Chief Mining Engineer, Mine Manager, and General Manager. Mr. Haywood has held President & CEO and directorship positions with several public and private Canadian exploration and mining corporations since 2008.

Mr. Haywood stated that “The Canadian Critical Minerals Strategy is primarily designed to accelerate the domestic exploration, production and supply of critical minerals for the green economy. As one of the significant critical minerals, lithium is Gold Lion’s focus, and I’m pleased to be a part of an opportunity for discovery and development in James Bay.”

Furthermore, the Company announces that Mr. Lawrence Hay has resigned as Chief Executive Officer. Mr. Hay will remain with the Company as a director.

Gold Lion also announces it has issued to Mr. Haywood an aggregate of 2,000,000 incentive stock options at a price of $0.07 per common share for a period of five years, pursuant to its Stock Option Plan. 500,000 options will vest immediately, and the remainder shall vest quarterly in equal amounts over a one-year term.

About Gold Lion Resources Inc.

Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its lithium and precious metals focused portfolio including the Mia Li-3 Lithium, Cuteye and Fairview Properties located in Quebec and British Columbia. For more information please visit: https://goldlionresources.com/.

ON BEHALF OF THE BOARD OF DIRECTORS

Lawrence Hay, CEO

T: 604-416-0569

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Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the Company's expected benefits of the Transaction and opportunities which will arise from the acquisition of the Property. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; and (ii) other factors beyond the control of the Company. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.

600-1090 West Georgia St., Vancouver, British Columbia V6E 3V7

T: (604-687-2038)/ W: https://goldlionresources.com/