Vancouver, June 17, 2022 - Lions Bay Capital Inc. (TSXV: LBI) ("Lions Bay") or the "Company"), announces the receipt of the phase 2 drilling report from SRK Consulting (Australasia) Pty Ltd. ("SRK") on the rare earth discovery being evaluated by the Savic Minerals Pty Ltd ("Savic") joint venture. Lions Bay has the right to earn up to 50 per cent interest on the Savic ground by spending AUD $5 million (CAD $4.47 million) over 3 years from January 2022. The Savic ground lies immediately adjacent to the Koppamurra Project of Australian Rare Earths.
Assays from the recent phase 2 exploration on the Savic ground are expected in the next six weeks which will enable the geological team to determine a grid for resource definition drilling later this year.
The full SRK report can be found at:
https://lionsbaycapital.com/wp-content/uploads/2022/06/PDC001_MEMO_Phase2-Drilling-Program_Rev0.pdf
About Lions Bay Capital Inc.
Lions Bay Capital Inc. is a TSX-V listed Investment Issuer that is focused on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it provides public and private companies with strategic and financial support.
On behalf of the Board of Lions Bay.
John Byrne
Executive Chairman
Tel: +61 3 9236 2800
Email: jbyrne@lionsbaycapital.com
For more information, please visit the corporate website at www.lionsbaycapital.com or contact the above.
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