Lionsgold : Exercise of Warrants

Lionsgold Limited

('Lionsgold', 'LION' or the 'Company')

Exercise of Warrants

Lionsgold (LON: LION), the AIM quoted company focused onthe exploration, production and retail application of physical gold, including thedevelopment of the digital gold currency Goldbloc, announces that it has received notices of exercise in respect of warrants to subscribe for new ordinary shares of no par value each ('New Ordinary Shares') at a price per share as listed below (the 'Warrant Shares').

Number of Warrants	Exercise Price
363,636	2.2p
6,750,000	1.2p

The Company will therefore issue and allot 7,113,636 new Ordinary Shares for the receipt of £89,000. Application will be made for these New Ordinary Shares to be admitted to trading on AIM, which is expected to take place on or around 4 May 2018. The New Ordinary Shares will rank pari-passu with existing ordinary shares.

Total Voting Rights

Due to a duplicated application for 1,500,000 shares on 2 January 2018 following the exercise of warrants, in the announcements of total voting rights, the issued ordinary share capital of Lionsgold has since been overstated by 1,500,000 shares. Therefore, immediately prior to the issue of New Ordinary Shares outlined in this announcement, there were 505,345,660 Ordinary Shares with voting rights attached (one vote per share).

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA ('DTRs'), the issued ordinary share capital of Lionsgold following the issue of the New Ordinary Shares, there shall be 512,459,296 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Lionsgold under the DTRs.

Enquiries:

Lionsgold Limited Cameron Parry (Chief Executive Officer)	Tel: [phone]
WH Ireland Limited (Nominated Adviser) Tim Feather/Chris Viggor	Tel: [phone]
Smaller Company Capital Limited (Broker) Rupert Williams / Jeremy Woodgate	Tel: [phone]

About LIONSGOLD Limited (LSE: LION)

Lionsgold is a London Stock Exchange AIM market quoted, gold-focused company involved in the exploration, production and retail application of physical gold, with gold assets in India and Finland and a wholly owned financial technology company developing the digital gold currency, Goldbloc.

Lionsgold's three core focuses are:

· Strategic partnership with leading India gold exploration and mine development company, Geomysore, in which Lionsgold holds 21.15%;

· Developing the digital gold curreny Goldbloc under its wholly owned financial technology division and 12.5% holding in Railsbank Technology Ltd, to enable customers to utilise direct ownership of physical gold via the global banking system (www.goldbloc.com); and

· Gold exploration and production in Finland via 30% ownership of Finnish joint venture.