LionGold EntersAgreement to Acquire 100% stake in Amayapampa Gold Project in Bolivia for US$7.0 million (or approximately S$9.

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1 LionGold Corp Ltd (Incorporated in Bermuda) 38 Kallang Place, Singapore Tel: (65) ;Fax: (65) Media Release (For Immediate Release) LionGold EntersAgreement to Acquire 100% stake in Amayapampa Gold Project in Bolivia for US$7.0 million (or approximately S$9.045 million) Summary: LionGold enters into a Share Sale Agreement with Republic Gold Limited, an ASX listed gold explorer to purchase entire issued and paid-up capitalof Republic Gold Limited s wholly owned subsidiary, Vista Gold Corp. Vista Gold Corp, through itself and its subsidiaries, owns, legally and beneficially, the Amayapampa Gold Project in the Municipality of Chayanta, Bustillo Province in Bolivia, consisting of 38 overlapping concessions totaling 3,367 hectares and one concession at Consoliddada III. The total consideration will be US$7.0 million (or approximately S$9.045 million at an exchange rate of US$1.00 to S$1.2935)and it will be satisfied by the payment of US$750,000, which will be off-setagainst an amount equal to the Loan amount due from Republic Gold to LionGold under the Loan Agreement announced on 18 th May 2012and the rest of US$6.25 million to be satisfied by the allotment and issue of LionGold shares at an issue price of S$ SINGAPORE, 2 June2012 LionGold Corp Ltd( LionGold or the Company ) is pleased to announce that it has entered into a Share Sale Agreement ( Share Sale Agreement ) with Republic Gold Limited, an ASX-listed explorer to acquire Vista Gold Corp (a whollyowned subsidiary of Republic Gold Limited).

2 Vista Gold is a company incorporated in Antigua and Barbuda under IBC No and is the holding company of the following subsidiaries: a) MINERA NUEVA VISTA S.A (a company incorporated in Bolivia); b) COMPAÑÍA INVERSORA VISTA S.A. (a company incorporated in Bolivia); and c) COMPAÑÍA EXPLORADORA VISTEX S.A. (a company incorporated in Bolivia) Vista Gold, through itself and its subsidiaries (collectively the Vista Companies ) owns, legally and beneficially, the Amayapampa Gold Project ( Amayapampa Gold Project ) in the Municipality of Chayanta, Bustillo Province in Bolivia. The Amayapampa Gold Project is located 380 km southeast of La Paz, on the Altiplano of south western Bolivia, at an elevation of 4,100 metres. Mineralisation at the project is as free gold in association with pyrite, in a structural envelope of sheared quartz veins in black argillites with quartzite and siltstone interbeds. The Amayapampa Gold Project has the following Mineral Resources as of June 2010 Mineral Resources as of June 2010 Tonnes Grade Ounces (M) (Au g/t) Au (000 s) Measured Indicated Inferred Total ,280 2 P age

3 Ore Reserves as of June 2010 Tonnes Grade Content (000 s) Ounces (M) (Au g/t) Au Proven Probable Total Republic carried out further drilling and surface trenching after the most recent June 2010 resource estimate. The results of this work were comparable to the block model in the areas affected and are not expected to materially affect the resource estimate. Additional information relating to Republic Gold and Vista Gold may be obtained from Republic Gold s website at The Consideration The Consideration was arrived at by LionGold after taking into consideration the following factors: 1. The Amayapampa Gold Project is an attractive asset which is undervalued. This is supported by a comparison of peers on an EV/Resource basis and also when compared to a number of DCF scenarios generated in the feasibility study of the project. 3 P age

4 2. The Vista Gold Acquisition enables LionGold to acquire a 100% interest in the Amayapampa Project and use that position to drive the Project development. 3. The Company is of the view that significant value may be extracted post acquisition by:- (a) Funding the development of the Amayapampa Gold Project in a timely manner; and (b) Providing technical expertise to optimise pit designs mine planning and scheduling to maximise value of the mine development. Under the terms of the Share Sale Agreement entered into today, the total Consideration to acquire Vista Gold is US$7,000,000(or approximately S$9.045 million at an exchange rate of US$1.00 to S$1.2935). The Consideration is to be satisfied by (a) the payment of US$750,000, which will be set-off against an amount equal to the Loan amount due from Republic Gold to the Company under the Loan Agreement announced on 18 May 2912; and (b) the allotment and issue of such number of new shares in the capital of LionGold (Vista Gold Consideration Shares) that is equal in value to the amount of US$6,250,000 based on (i) the volume weighted average price of the Company s Shares as traded on the SGX-ST on the date of the Share Sale Agreement as quoted by and (ii) the exchange rate between Singapore Dollars and US Dollars at 5pm Sydney, time on the date of the Share Sale Agreement as determined by Based on the foregoing, the amount of US$6,250,000 is equivalent to S$8,084,375 and LionGold will, on completion of the Vista Gold Acquisition allot and issue 8,052,968 Vista Gold Consideration Shares, credited as fully paid to Republic Gold.The issue price of the Vista Gold Consideration Shares is S$1.0039, which is the volume weighted average price of the shares of the Company traded on the SGX-ST on 1 June 2012 being the last full trading day prior to the date the Share Sale Agreement was entered into. The Vista Gold Consideration Shares represents approximately 1.10% of the number 4 P age

5 (727,849,704) of shares in issue as at the date of the Company s Annual General Meeting on 30 July An Attractive Investment Proposition LionGold believes that the Amayapampa Gold Project, which has been subject to a feasibility study that has been reviewed by AMC Mining Consultants Limited and compiled into an NI compliant document, is an attractive target. LionGold has secured this purchase at a significantdiscount to the value as indicated by the feasibility study NPV. Upside offered by a potentially higher gold price than that used for the feasibility study adds further attraction to this project. Key Financial Indicators are reported by AMC (January 2011) are as follows: Item Life of Mine Total Mill Throughput Total Gold Produced Total Waste Mined Inititial Project Capital Cost On-Going Capital Costs Life-of-Mine Operating Costs Base Case Gold Price Assumption Discount Rate 0.0% 5.0% 7.5% 10.0% Parameter /Result 8 years 18.9 Mt 653 koz 48.5 Mt US$136M US$34M US$290M US$1020/oz After-Tax Base Case Net Present Value (US$000 s) US$137,251 US$104,750 US$92,275 US$81,696 Commenting on the attractive proposition of the Amayapampa Gold Project, Mr Errol 5 P age

6 Smart, Group Chief Operating Officer of LionGold Corp Ltd said We believethe Amayapampa Gold Project will give a significant boost to our existing gold reserve and resourceinventory and presents a strong, short to medium term production growth opportunity.we are confident that under LionGold strategic management and with our access to financial resources, the Amayapampa Gold Project can be developed to the potential identified by the feasibility study. Given that the study was undertaken at a gold price of only US$1020 per ounce and with Life of Mine Operating costs estimated as only US$444/oz, the upside at current gold prices is particularly attractive. Statement on Mineral Resources The information in this announcement that relates to mineral resources is based on information compiled by Kerrin Allwood. Kerrin Allwood is employed by Geomodelling (NZ) Ltd and is a member of the Australian Institute of Mining and Metallurgy. Kerrin Allwood and is a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Resources (the JORC Code). Kerrin Allwood has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code. Kerrin Allwood consents to the publication of this information in the form and content in which it appears. Note to public / editors : Please read this media release in conjunction with the official announcement posted on the SGXnet with regards to this transaction - End - For media and investor enquiries, please contact Mr Roger Poh Director of Corporate Communications Mobile : roger@liongoldcorp.com 6 P age

7 About LionGold Corp Ltd (Bloomberg Code: LIGO:SP / Reuters Code: LION:SI) LionGold Corp Ltd ( LionGold or the Group ) is a Main Board SGX listed investment holding company focused on investing in and managing businesses that are engaged in the acquisition of gold mining licenses and development of these licenses into physical production. The Group currently has interests in gold mining assets in 4 countries globally Mali, Ghana and Mongolia While amassing gold mining licenses and accelerating gold production within present tenements, LionGold continues to explore new gold mining opportunities via acquisitions of gold mining and exploration companies with significant compliant resource base. These strategic and accretive acquisitions underscore LionGold s desire to establish itself as a mid-tier global gold mining consolidator. In addition to its Gold mining investments, the Group continues to have investments in legacy, non-core segments such as renewable energy and the manufacturing of office equipment business. For more information visit : 7 P age