Mr. Arni Johannson of Lions Gate reports

LIONS GATE METALS COMPLETES ROK-COYOTE JOINT VENTURE

Lions Gate Metals Inc. has finalized the ROK-Coyote option agreement with Firesteel Resources Inc. The ROK-Coyote property is adjacent to Imperial Metals' Red Chris copper-gold deposit.

Lions Gate Metals has been granted an exclusive option to acquire a 75-per-cent interest in the ROK-Coyote mineral property consisting of the claims located in the Stikine Arch region of northwestern British Columbia about eight kilometres southeast of the Iskut Village on Highway 37 and 12 kilometres west of the B.C. Rail extension road bed.

The agreement provides for the payments as shown in the table.

                                              Cash to Lions Gate       Work
                                            Firesteel     shares commitment

On execution of the LOI dated Jan. 21, 2010 $  50,000          0 $        0
On later of execution of formal agreement     121,000     50,000
or receipt of TSX-V approval (effective          Paid
date)
Year 1 anniversary of effective date           50,000     50,000    350,000
Year 2 anniversary of effective date           75,000    100,000    450,000
Year 3 anniversary of effective date          100,000    200,000    700,000
Year 4 anniversary of effective date          100,000    250,000  1,000,000
                                             --------    ------- ----------
Total                                        $496,000    650,000 $2,500,000
                                             ========    ======= ==========

The cash payments of $50,000 and $121,000 have been paid and shall be credited toward Lions Gate's first year work commitments on the property.

Firesteel may back in for a 5-per-cent interest in the property by paying Lions Gate $200,000, which if exercised would result in the ownership being 70 per cent Lions Gate and 30 per cent Firesteel.

The property is adjacent to and immediately northwest of the Imperial Metals Corporation's Red Chris copper-gold deposit (with measured and indicated resources of 489.1 million tonnes at 0.43 per cent Cu and 0.42 gram per tonne Au, at 0.20-per-cent Cu cut-off (as reported on page 89 of Imperial Metals' technical report: 2010 exploration, drilling and mineral resource update dated May 19, 2010). In a news release in Stockwatch Aug. 5, 2010, Imperial Metals also reported the Red Chris drill hole RC09-393 returned 317.5 metres grading 1.08 per cent copper and 1.46 g/t gold within a 1,112.5-metre mineralized section grading 0.54 per cent copper, 0.61 g/t gold. Firesteel has reported that the property covers a copper-gold porphyry target located within a large hydrothermal sulphide system measuring at least nine square kilometres atop the Tanzilla Plateau. Access to the property is easily gained from Highway 37 along the west side of the claim group or from the Ealue Lake secondary road which crosses the southern half of the property in an east-west direction.

Property geology is reported as Lower Jurassic, Hazelton Group volcanics and sediments intruded by Early Jurassic, hornblende quartz monzonite, and syenite plugs and dikes. Copper-gold mineralization is related to emplacement of the intrusives. Postmineral, barren Hazelton volcanics cap part of the system. Alteration includes well-mineralized quartz stockworks and intense potassic alteration passing outward to phyllic and propylitic alteration assemblages.

Exploration work on the property dates from 1929 when copper was discovered at the Klappan Rose showing. Between then and the 1970s, when Texasgulf discovered the Red Chris deposit, exploration was intermittent and minimal. After the discovery, there was a period of increased exploration activity but it was largely limited to prospecting, geological mapping and some localized geophysical surveys.

We seek Safe Harbor.