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Lions Gate Metals files new NI 43-101 report on Poplar

Lions Gate Metals Inc (C:LGM)
Shares Issued 10,046,317
Last Close 3/6/2009 $0.82
Monday March 09 2009 - News Release

Mr. Mark Hewett reports
LIONS GATE METALS FILES NEW NI 43-101 TECHNICAL REPORT

Lions Gate Metals Inc. has completed its new independent National Instrument 43-101-compliant technical report on its Poplar project near Houston, B.C., Canada. LGM is the registered owner of the Poplar Lake property, and holds 100 per cent of the rights to the claims that comprise the Poplar Lake project area.

The report is authored by Peter L. Ogryzlo, MSc, PGeo, an independent qualified person under NI 43-101 who has undertaken an exhaustive review of available data on the Poplar project. The report states that previous diamond drilling on the Poplar property has demonstrated the presence of a sizable porphyry copper-molybdenum deposit, and reaffirms the positive assessments of two senior mining companies, Utah Mines (now BHP Billiton) and Placer Dome Exploration (now Barrick Gold Corporation). Based on approximately 17,000 metres of diamond drilling completed between 1974 and 1982, the previous operators of the Poplar property had identified a historical mineral resource of 236 million tonnes at 0.37-per-cent copper equivalent using a 0.25-per-cent copper equivalent cut-off grade and 1982 metal prices. The resource has been further tested by an additional 4,000 metres of diamond drilling between 1982 and 2005. The above resource estimate was prepared prior to the implementation of National Instrument 43-101 Standards of Disclosure for Mineral Projects, and does not comply with that standard; nor does the term copper equivalent grade comply with that standard. Mr. Ogryzlo observed in his report that the deposit is similar in size and metal content to the operating Huckleberry mine, located approximately 38 kilometres distant.

The report recommends an additional 4,200-metre, $1.7-million program of diamond drilling, supported by geophysical surveying, to upgrade the assay database in the core of the deposit. The objective being to provide adequate information for the company to develop a resource model suitable for scoping studies and further economic analysis. Further expenditures are also proposed to explore the area around the deposit for additional resources. A $952,099 exploration budget to undertake further drilling to confirm and enhance the above resource and bring it up to full NI 43-101 standard has been recommended.

Poplar appears to be a concentrically zoned porphyry copper-molybdenum deposit, with mineralization disseminated through large volumes of rock, both as fracture fillings and disseminations. The region surrounding the Poplar project is exceptionally well mineralized, with a number of producers, past producers and partially developed deposits with drill-indicated resources. The area has been and continues to be an important supplier of base and precious metals in the province of British Columbia, including the past-producing Emerald Glacier mine, the past-producing Silver Queen mine, and Imperial Metals' Huckleberry mine, which is in production at the time of preparation of this report.

LGM's president, Mark Hewett, was quoted as saying: "Poplar Lake is a 'name' property, well known with in the Western Canadian mining community. Utah Mines (now BHP Billiton) and Placer Dome Exploration (now Barrick Gold) carried out independent resource studies on the property. We are particularly pleased that the significance of our flagship property, Poplar has been reaffirmed. Now that LGM has attained its Tier 1 listing, we can work towards our objective to become a major presence in the copper mining market. We are geared for growth, actively vetting and targeting quality copper assets for acquisition."




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