NL Northern Lion Gold Corp

Northern Lion Gold Corp. (TSX VENTURE:NL)(FRANKFURT:N3E) (the "Company")
announces that its previously announced (reported April 4, 2013) definitive
option agreement (the "Agreement") with Centerra Gold (KB) Inc., a subsidiary of
Centerra Gold Inc. ("Centerra") has become fully effective as the conditions
precedent to such effectiveness, which included receipt of TSX Venture Exchange
approval and confirmation that certain licenses applied by the Company have been
granted, have now been satisfied.


Pursuant to the Agreement, Centerra can earn up to a 70% interest in a number of
the Company's exploration permits (the "Option Properties") located in the
Larnaca and Paphos Districts of the Republic of Cyprus. To earn an initial 51%
interest, Centerra must, in addition to the US$100,000 previously paid, make
exploration and development expenditures of US$3 million over three years (the
"Initial Option Period"), of which US$500,000 is a firm commitment by Centerra
that must be incurred on or before the first anniversary of the effective date
of the Agreement.


Once a 51% interest is earned by Centerra, either a 51/49 joint venture will be
formed (and further funding would be done on a pro rata basis), or Centerra may
elect to earn an additional 19% interest to bring its total property interest to
70% by funding an additional US$3 million in exploration and development
expenditures within a two year period following its election to increase its
interest.


The Company will be the operator during the first year of the Initial Option
Period, following which Centerra may elect to assume operatorship.


Exploration Update

The Company's 2013 exploration program commenced in April on its permits in the
Paphos District of western Cyprus (subject to the Agreement with Centerra),
installing grids for a ground geophysical survey that is planned to begin
shortly. The surveys will measure Audio Magnetotellurics ("AMT") as a primary
method and use Transient Electromagnetics ("TEM") to further test anomalous
areas.


The geophysical crew is in place conducting orientation test lines over known
massive sulfide mineralization, in order to provide a reference to assist in the
interpretation of survey results. The orientation AMT survey successfully
identified known mineralization and results from the orientation TEM survey are
currently being processed. These test lines are being conducted on grounds not
associated with this Agreement.


The first area of the geophysical survey will be in the Paphos District, where a
2011 Versatile Time-Domain Electromagnetic Survey conducted by Geotech Airborne
Malta, Ltd. (reported February 7, 2012), discovered a number of geophysical
targets in this area. Five of these targets have been selected by Centerra for
this follow-up ground survey.


Centerra and the Company have also selected the Pano Lefkara permit for the
second phase of the AMT survey. Pano Lefkara was previously drilled by the
Company in 2012. Auriferous massive sulfides were encountered in three drill
holes and assays of up to 3 metres of 4.98 grams per tonne ("g/t") gold, 29.60
g/t silver, 3.75% copper, and 2.47% zinc were returned (reported July 17, 2012).


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


Corporate Update

The Company also announces that the Board of Directors will be asking
shareholders for the option to consolidate its common shares. Shareholders
permission for this option will be requested at the upcoming annual general and
special meeting of shareholders scheduled to be held on June 13, 2013.


Due to current difficult market conditions the Company proposes to have the
option available to consolidate its share capital of one (1) new share for up to
every ten (10) old shares. If a consolidation takes place, no name change of the
Company would occur. The Board of Directors of the Company at any time in its
absolute discretion will determine the exact ratio of the consolidation, up to
10 common shares.


As at the date hereof, there are an aggregate 45,847,094 issued and outstanding
common shares. Assuming no other change to the issued and outstanding common
shares, if approved by the shareholders, and then enacted by the Board of
Directors, the maximum share consolidation would result in an aggregate of
approximately 4,584,709 common shares issued and outstanding.


A proposed share consolidation is subject to the approval, by resolution, of the
shareholders of the Company and to the approval of the TSX Venture Exchange.
Full details regarding the possible consolidation will be included in the
information circular that can be viewed on SEDAR at www.sedar.com.


Company President and CEO, John Lando, commented: "The Board of Directors has
decided to ask shareholders for this approval at the current time in order to
give the Company further flexibility over the coming year as it looks for
further funding. The Agreement with Centerra will provide some exploration
funding, however more funding may be required for corporate overhead and to
advance our other projects in the Republic of Cyprus." 


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
has a number of exploration permits in the Republic of Cyprus and is actively
pursuing other opportunities within the region. 


About Centerra

Centerra is a gold mining company focused on operating, developing, exploring
and acquiring gold and gold-copper 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.


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, including the time
thereof, 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; risks arising as a result of the Company operating in Cyprus; the
ability of the Company to obtain additional financing; including through
Centerra funding exploration and development activities pursuant to the
Agreement; 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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