NL Northern Lion Gold Corp

Northern Lion Gold Corp. (TSX VENTURE:NL)(FRANKFURT:N3E) (the "Company")
announces that, further to its previously announced letter of intent with
Centerra Gold Inc. ("Centerra") (reported February 28, 2013), it has entered
into a binding definitive option agreement (the "Agreement") with Centerra Gold
(KB) Inc., a subsidiary of Centerra. The Company also announces the initiation
of a joint exploration program with Centerra in the Republic of Cyprus. 


Pursuant to the Agreement, Centerra can earn a 51% to 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 pay US$100,000 to the Company and make exploration and
development expenditures of US$3 million over three years (the "Initial Option
Period"). 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. 


Centerra's funding obligations under the Agreement are subject to certain
conditions, including the Company obtaining TSX Venture Exchange approval and
the receipt of certain licenses which have been applied for by the Company. 


The Company and Centerra are preparing to commence a ground-based EM and
magnetic geophysical survey ("Geophysical Survey") over prospective areas in the
Paphos and Larnaca Districts. 


Company President and CEO, John Lando, commented: "This final agreement with
Centerra represents a firm commitment from a leading gold producer to work with
us to discover buried Cyprus-style massive sulphide deposits in underexplored
regions of Cyprus. We have held numerous meetings with Centerra's technical team
to outline high priority targets and to design an exploration program that
includes ground geophysical surveys and diamond drill programs." 


The geophysical survey is designed to follow-up on the results of a 2011
Versatile Time-Domain Electromagnetic Survey conducted by Geotech Airborne
Malta, Ltd. (reported February 7, 2012), to explore for buried massive sulphide
targets in underexplored areas of western Cyprus. Five high priority targets
located in the Paphos District of western Cyprus have been selected by Centerra
for follow-up., including the prospective Lysos permit. The Lysos permit area
hosts a cluster of seven VTEM anomalies. Centerra and the Company have also
chosen the Pano Lefkara permit for work during the initial phase of exploration.
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 g/t gold, 29.60 g/t silver, 3.75% copper, and 2.47% zinc were returned
(reported July 17, 2012). 


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.


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, receipt of all required
regulatory approval, 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; 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
President
(604) 669-2701 or Toll Free at 1 800 663 0510
info@northernliongold.com


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

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