Lion One Metals Limited announced further results from its diamond drilling program at the Tuvatu Gold Project in Fiji. The latest holes were drilled at 40 m centers and have confirmed the grade, widths, and continuity of the mineralized extensions west of the Tuvatu Resource Area. Gold mineralization in this new zone (Tuvatu West) is hosted in east-west oriented vein structures that cross cut the main Tuvatu Resource and extend along strike over 1 km to the west. Mineralization in the Tuvatu Resource Area has been drill tested to depths of 300m, and remains open at depth and along strike. The company is continuing the drilling in the area with the intention to undertake a new resource estimation upon receipt of all geochemical results from the program. Geological mapping and surface sampling is ongoing within the Tuvatu West area to ensure a clear understanding of the controls and nature of mineralization throughout the target zone. The company also wishes to report that it has filed a surface lease application with the i-Taukei Land Trust Board, and is preparing to file its Environmental Impact Assessment ("EIA") and related documentation that will accompany a mining lease application for Tuvatu with the Mineral Resources Department of Fiji.

Lion One Metals Limited reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported operating loss was CAD 727,635 against CAD 867,635 a year ago. Net loss for the period was CAD 680,380 or CAD 0.01 basic and diluted loss per share against CAD 806,106 or CAD 0.02 basic and diluted loss per share a year ago. For the six-month period, the company reported operating loss was CAD 1,150,557 against CAD 1,955,608 a year ago. Net loss for the period was CAD 1,050,785 or CAD 0.02 basic and diluted loss per share against CAD 1,830,029 or CAD 0.04 basic and diluted loss per share a year ago. Net cash used in operating activities was CAD 754,541 against CAD 1,232,740 a year ago. Purchase of equipment was CAD 90,158 against CAD 208,690 a year ago. Exploration expenditures were CAD 1,362,764 against CAD 1,605,107 a year ago.

Lion One Metals Limited announced the appointment of Ms. Samantha Shorter as the company's Chief Financial Officer. Ms. Shorter was previously employed an audit manager at a major Canadian accounting firm specializing in the mining industry and has extensive experience providing financial reporting and corporate services to companies in the mining and mineral exploration industries. Ms. Shorter is a Chartered Accountant and holds a Bachelor of Commerce degree with Honours from the University of British Columbia. The company reported that Mr. John Burghout has resigned as Chief Financial Officer. Mr. Burghout was instrumental in working with all levels of management during a period of transition and development for the organization.