CANADIAN COMPANY WINS FIJI MINING LICENSE

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Lion One plans to explore for gold and silver

SUVA, Fiji (Fijilive, July 1, 2008) - Fiji’s Mineral Resources Department has given an exploration license to a Canadian mining company that has expressed interest in developing the Tuvatu Gold Mining project in the Sabeto Valley near Nadi.

The company, Lion One Ltd is registered locally and is a subsidiary of Red Lion Management Ltd, a Canada-based company

Mineral Resources manager mining Venasio Nasara said the company would explore for gold and silver.

He said that the gold is at least high grade, similar to Vatukoula gold mine in Tavua.

Nasara says there is at least more than one million tons of ore, producing at least 20,000 to 30,000 ounces annually.

In an advertisement, two weeks ago, the company said it was in the process of developing the Tuvatu mine and also pursuing exploration projects on Vanua Levu (gold, silver and other minerals).

The company was recruiting local workers to join its team.

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