LGM Lions Gate Metals Inc.

Lions Gate Metals Inc. (TSX VENTURE: LGM) ("Lions Gate" or the "Company") is pleased to announce it has agreed to amend and to extend the term of the letter of intent with Firesteel Resources Inc. ("Firesteel") originally signed January 21, 2010. (announced in a News Release dated January 25, 2010).

Lions Gate Metals Inc. ("Lions Gate") will be granted an exclusive option (the "Option") to acquire seventy-five percent (75%) interest in the ROK-Coyote mineral property comprised of the claims located in the Stikine Arch region of northwestern B.C. about 8 kilometres southeast of the Iskut Village on Highway 37 and 12 kilometres west of the BC Rail extension road bed. The LOI supersedes and replaces a formal offer made by Lions Gate to Firesteel in a letter dated December 8, 2009 and the Letter Agreement between Firesteel and Lions Gate dated January 21, 2010 pursuant to which Firesteel granted to Lions Gate a sole and exclusive option to acquire up to a 75% interest in and to the ROK Property (collectively, the "LAs").

The Agreement provides for the following payments:

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                                               Cash to    Lions        Work
                                             Firesteel     Gate  Commitment
Date                                             (Cdn$)  Shares       (Cdn$)
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On Execution of the LOI dated January 21,     $ 50,000        0           0
2010                                              PAID
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On later of execution of Formal Agreement or  $121,000   50,000
receipt of TSX-V approval (Effective Date)
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Year 1 Anniversary of Effective Date          $ 50,000   50,000  $  350,000
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Year 2 Anniversary of Effective Date          $ 75,000  100,000  $  450,000
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Year 3 Anniversary of Effective Date          $100,000  200,000  $  700,000
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Year 4 Anniversary of Effective Date          $100,000  250,000  $1,000,000
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Total                                         $496,000  650,000  $2,500,000
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The cash payments of $50,000, which has already been paid and of $121,000 which is payable on the Effective Date shall be credited towards Lions Gate work commitments on the Property.

Firesteel may acquire a 5% interest in the Property by paying Lions Gate $200,000 which, if exercised, would result in the ownership being 70% Lions Gate and 30% Firesteel.

The Agreement is subject to the approval of the TSX-V.

The parties acknowledge Brett Resources Inc. had filed a writ of summons and statement of claim against Firesteel in relation to the ROK Property. Firesteel and Brett have reached an agreement, under which Brett has agreed to cease all litigation against Firesteel and to dismiss the Brett Claim in exchange for the reimbursement of approximately $119,243 spent by Brett for exploration work on the ROK Property in 2009.

The Property is adjacent to and immediately northwest of the Imperial Metals Corporation's Red Chris copper-gold deposit (with measured and indicated resources of 489.1 million tonnes at 0.43% Cu and 0.42 g/t Au, at 0.20% Cu Cutoff, as reported on page 89 of Imperial Metals' Technical Report: 2010 Exploration, Drilling and Mineral Resource Update dated May 19, 2010). In a news release dated August 5, 2010 Imperial Metals also reported the Red Chris Drill hole RC09-393 returned 317.5 metres grading 1.08% copper and 1.46 g/t gold within a 1,112.5 metre mineralized section grading 0.54% copper, 0.61 g/t gold. Firesteel has reported that the Property covers a copper-gold porphyry target located within a large hydrothermal sulphide system measuring at least 9 sq. km. atop the Tanzilla Plateau. Access to the Property is easily gained from Hwy. 37 along the west side of the claim group or from the Ealue Lake secondary road which crosses the southern half of the Property in an east-west direction.

Property geology is reported as Lower Jurassic, Hazelton Group volcanics and sediments intruded by Early Jurassic, hornblende quartz monzonite and syenite plugs and dykes. Copper-gold mineralization is related to emplacement of the intrusives. Post mineral, barren Hazelton volcanics cap part of the system. Alteration includes well mineralized quartz stockworks & intense potassic alteration passing outward to phyllic and propylitic alteration assemblages.

Exploration work on the Property dates back to 1929 when copper was discovered at the Klappan Rose showing. Between then and the 1970's, when Texasgulf discovered the Red Chris deposit, exploration was intermittent and minimal. After the discovery, there was a period of increased exploration activity but it was largely limited to prospecting, geological mapping and some localized geophysical surveys.

About Lions Gate Metals

Lions Gate is a Canadian based, junior resource company focused on the exploration, development, and acquisition of both advanced and early stage mineral projects. Lions Gate owns 100% of three substantial copper and molybdenum projects located in British Columbia. Lions Gate's flagship project is the Poplar porphyry copper molybdenum deposit near Houston, BC. The Huckleberry Mine, located approximately 35 kilometres southwest of the Poplar Deposit, produces copper and molybdenum from a deposit of similar age and setting.

Technical Information contained in this news release has been reviewed and approved by Andrew Gourlay, P.Geol., Vice President of Exploration who is a Qualified Person as defined in NI 43-101.

Sincerely on behalf of the Board of Directors,

Arni Johannson, CEO and Chairman of the Board

Lions Gate Metals Inc.

For further information on the Company and its projects please visit our web site at www.LionsGateMetals.com.

THIS PRESS RELEASE INCLUDES FORWARD-LOOKING STATEMENTS OR INFORMATION. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT INCLUDED IN THIS RELEASE, INCLUDING WITHOUT LIMITATION, STATEMENTS REGARDING FUTURE PLANS AND OBJECTIVES OF THE COMPANY ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE VARIOUS RISKS AND UNCERTAINTIES. THERE CAN BE NO ASSURANCE THAT SUCH STATEMENTS WILL PROVE TO BE ACCURATE AND ACTUAL RESULTS AND FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE COMPANY'S PLANS OR EXPECTATIONS INCLUDE AVAILABILITY OF CAPITAL AND FINANCING IN CONNECTION WITH THE COMPANY'S PROPOSED PRIVATE PLACEMENT, GENERAL ECONOMIC, MARKET OR BUSINESS CONDITIONS, REGULATORY CHANGES, TIMELINES OF GOVERNMENT OR REGULATORY APPROVALS AND OTHER RISKS DETAILED HEREIN AND FROM TIME TO TIME IN THE FILINGS MADE BY THE COMPANY. ACCORDINGLY, READERS ARE ADVISED NOT TO PLACE UNDUE RELIANCE ON FORWARD-LOOKING STATEMENTS OR INFORMATION.

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Contacts: Lions Gate Metals Inc. Blair McIntyre President & Director of the Board (604) 683-7588 www.LionsGateMetals.com