LGM Lions Gate Metals Inc.

Lions Gate Metals Inc. (TSX VENTURE:LGM) ("Lions Gate" or the "Company")
announces that it is returning the ROK Coyote project (the "Project") to
Firesteel Resources Inc. ("Firesteel").


The Company has made a number of offers to Firesteel to acquire a 100% interest
in the Project; however, these offers have been rejected. It is therefore with
regret that the Company has chosen to return the Project to Firesteel, in good
standing, ahead of the next payment due under the January 2011 option agreement
(the "Option Agreement"). 


A final proposal and release notice was delivered to the Firesteel board of
directors on December 20th, 2012 and expired December 31, 2012 at 5:00pm (PST).
Lions Gate was informed by Firesteel that the offer - composed of shares and
cash - was not in the best interest of their shareholders. As a result of this
decision, Lions Gate will be cancelling its Option Agreement for the Project.


Commenting on the return of the Project, Mr. Arni Johannson stated, "The Board
of Lions Gate felt that the ability to earn only a 70% interest in the project
for significant multi-year work payments in addition to cash and share payments
to the Vendor did not make fiscal sense with the current market conditions in
the junior resource sector. As such we tried to modify our Option Agreement to
better reflect the prevailing economic realities and were unable to secure new
terms."


The Company today also announces the appointment of Sharon Muzzin, CA, as Chief
Financial Officer, replacing David McAdam who has resigned from the position.
Ms. Muzzin is a CA with over 25 years of experience providing management
services to both private and public entities including several public companies
in the mining industry.


Sincerely on behalf of the Board of Directors, 

Arni Johannson, CEO & Chair

Lions Gate Metals Inc.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lions Gate Metals Inc.
Blair McIntyre
Exec VP
(778) 837-6812

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