LionGold Corp. Ltd. provided earnings guidance for the third quarter ended December 31, 2011. For the quarter, the group will suffer substantial increased losses from the second quarter ended September 30, 2011. The main factors for the substantial increased losses are: impairment of goodwill attributable to the Company's investment in 70% of Mornington Offshore Inc. ('MOI') and MOI's investment in its 100% subsidiary, Emas Mali SA; additional exploration costs and expenses attributable to the Company's gold mining exploration activities in Mali; provision (one-time) of the amount due to The Chinese Society for Environmental Sciences; and fees and expenses incurred by the company in the arbitration proceedings with The Chinese Society for Environmental Sciences and the Company's proposed acquisition of all the issued shares of Signature Metals Limited.