NL Northern Lion Gold Corp

Northern Lion Gold Corp. (the "Company") (TSX VENTURE:NL)(FRANKFURT:N3E)
announces that it has entered into a non-binding letter of intent (the "LOI")
with a subsidiary of Centerra Gold Inc. ("Centerra") with respect to an
option/joint venture transaction. 


Pursuant to the LOI, Centerra can earn up to 70% interest in several of the
Company's exploration permits (the "Option Properties") located in the Larnaca
and Paphos Districts of the Republic of Cyprus. The LOI provides that Centerra
would advance funds to initiate exploration activities on the Option Properties.
Funding would go towards mobilizing a ground-based EM geophysical survey over
the prospective Lysos permit. Lysos was identified by a 2011 Versatile
Time-Domain Electromagnetic and aeromagnetics (VTEM) survey, conducted by
Geotech Airborne Malta Ltd, and consists of a cluster of 7 anomalies within an
area of 17 square kilometres with the largest anomaly over 3.2 kilometres long
(reported July 17, 2012). The ground-based geophysical survey is designed to
follow-up on the previous VTEM survey results and identify buried massive
sulphide targets in underexplored areas of western Cyprus. 


The Company continues to hold several permits within the Republic of Cyprus that
remain outside of this LOI.


The completion of the proposed transaction discussed in the LOI is subject to a
number of conditions including, negotiation and execution of a definitive
agreement, receipt of all required regulatory approvals, including approval of
the TSX Venture Exchange and completion of due diligence investigations by
Centerra. 


Company President and CEO, John Lando, commented: "This transaction with a
leading gold producer provides validation of the geology and geography of the
region. Cyprus has a long history of mining with very little exploration work
completed over the last forty years. This strategic alliance will contribute to
the development of a systematic exploration program to discover additional
buried massive sulphide bodies." 


Centerra is a gold mining company focused on operating, developing, exploring
and acquiring gold properties in Asia, the former Soviet Union, Turkey and other
emerging markets worldwide. Centerra is a leading North American-based gold
producer and is the largest Western-based gold producer in Central Asia.
Centerra's shares trade on the Toronto Stock Exchange (TSX) under the symbol CG.
The Company is headquartered in Toronto, Ontario, Canada.


The Company's field activities in Cyprus are under the direction of Robert
Johnston, P.Geo. (BC), and "qualified person", as defined by National Instrument
43-101. Mr. Johnston is responsible for the technical content of this news
release. 


About Northern Lion

Northern Lion is committed to building a strong portfolio of projects within
mining-friendly and infrastructure-rich areas of Europe. Northern Lion currently
controls over 40 km2 of exploration permits in the Republic of Cyprus and is
actively pursuing other opportunities within the region. 


NORTHERN LION GOLD CORP.

John Lando, President

This news release includes "forward-looking information", as such term is
defined in applicable securities laws. The forward-looking information includes,
without limitation, exploration plans of the Company, the satisfaction of
conditions necessary to complete the transaction contemplated in the LOI,
including without limitation the negotiation and execution of a definitive
agreement, receipt of all required regulatory approval, and the completion of
due diligence by Centerra, the success of exploration activities and other
similar statements concerning anticipated future events, conditions or results
that are not historical facts. These statements reflect management's current
estimates, beliefs, intentions and expectations; they are not guarantees of
future performance. The Company cautions that all forward-looking information is
inherently uncertain and that actual performance may be affected by a number of
material factors, many of which are beyond the Company's control. Such factors
include, among others, risks and uncertainties relating to exploration and
development; the ability of the Company to obtain additional financing; the
Company's limited operating history; the need to comply with environmental and
governmental regulations; potential defects in title to the Company's
properties; fluctuations in currency exchange rates; fluctuating prices of
commodities; operating hazards and risks; competition; and other risks and
uncertainties. Accordingly, actual future events, conditions and results may
differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. All statements are made
as of the date of this news release and, except as required by law, the Company
is under no obligation to update or alter any forward-looking information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Northern Lion Gold Corp.
John Lando
(604) 669-2701 or Toll Free: 1 800 663 0510


Northern Lion Gold Corp.
Ian Mitchell
(604) 669-2701 or Toll Free: 1 800 663 0510
(604) 687-4670 (FAX)
info@northernliongold.com
www.northernliongold.com

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