Vancouver - Lions Bay Capital Inc. (TSXV: LBI) ('Lions Bay' or the 'Company') announces that drilling has commenced on the mineral tenements held by Savic Pty Ltd ('Savic') in Western Victoria, Australia.

The drill program aims to test the extension of rare earth mineralisation on the Savic ground which lies adjacent to the discovery by Australian Rare Earths Ltd in near surface clays.

Lions Bay expects to complete a total of 16 short holes this week which should be sufficient to enable the board to make a decision on entering into a Joint Venture agreement covering the Savic ground. LBI paid AUD $200,000 (CAD $183,000) for an option to enter a Joint Venture under which it can earn a 50 per cent interest in the Savic areas by spending AUD $5.0 million (CAD $4.57 million) over 3 years.

About Lions Bay Capital Inc.

Lions Bay Capital Inc. is a TSX-V listed Investment Issuer that is focused on high return investment opportunities, principally in the mining, clean energy and clean technology sectors, where it provides public and private companies with strategic and financial support.

Contact:

John Byrne

Tel: +61 3 9236 2800

Email: jbyrne@lionsbaycapital.com

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