AME Abacus Mining and Exploration Corporation

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN UNITED STATES

Lion One Metals Limited (TSX VENTURE:LIO) (the "Company") is pleased to announce
the completion of the reverse takeover of American Eagle Resources, Inc. ("AME")
and the name change from X-Tal Minerals Corp. The Company will begin trading on
the TSX Venture Exchange (the "TSX-V") as Lion One Metals Limited under the new
symbol "LIO" at market open on Monday, January 31, 2011.


The TSX-V has accepted for filing the Merger Agreement dated November 1, 2010,
and documentation with respect to a Private Placement announced November 18,
2010, and which closed December 22, 2010. In addition to the Company's 6,300,001
shares outstanding, the Company will issue 21,108,543 common shares to acquire
all of the issued and outstanding shares of AME and will issue 11,500,000 shares
in connection with the Private Placement. The Company will have a total of
38,908,544 shares issued and outstanding, of which 19,471,772 shares will be
subject to Tier 1 Value Escrow provisions.


As previously announced, the Company engaged MGI Securities Inc. and PI
Financial Corp. (the "Agents") as agents in connection with the financing, and
the Company concluded a portion of the financing on a non-brokered basis. The
financing consisted of 11,500,000 Subscription Receipts priced at $1.00 per
Subscription Receipt for gross proceeds of $11,500,000. Each Subscription
Receipt will now be converted into one unit of the Company, each unit consisting
of one common share and one half of one share purchase warrant, with each whole
warrant entitling the holder to purchase one common share of the Company at a
price of $2.00 for a period of 12 months expiring January 28, 2012. 


The Company has agreed to pay cash commissions of up to 6% of the gross proceeds
raised under the Offering with the assistance of the Agents, and issue warrants
of up to 6% of the number of Subscription Receipts sold under the Offering with
the assistance of the Agents.


The underlying common shares and warrants are subject to a four month hold
period expiring on April 22, 2011. The gross proceeds of the financing, less
certain fees, costs and expenses of the Agents, have been released from escrow
pursuant to the terms of a subscription receipt indenture entered into between
the Company, the Agents, and Computershare Trust Company of Canada. Shareholder
approvals for the merger transactions were obtained at the shareholder meetings
of the Company and of AME held on December 21, 2010. The final TSX-V Acceptance
Bulletin was issued on Friday, January 28, 2011. 


ON BEHALF OF THE BOARD OF DIRECTORS 

George S. Young, President & Director

This press release may contain "forward-looking information" within the meaning
of applicable Canadian securities legislation. All statements, other than
statements of historical fact, included herein are forward looking information.
Generally, forward-looking information may be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect",
"proposed", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases, or by the use of words or phrases which state that
certain actions, events or results may, could, would, or might occur or be
achieved. This forward-looking information reflects Lion One Metals Limited's
current beliefs and is based on information currently available to Lion One
Metals Limited and on assumptions Lion One Metals Limited believes are
reasonable. These assumptions include, but are not limited to, the actual
results of exploration projects being equivalent to or better than estimated
results in technical reports, assessment reports, other geological reports or
prior exploration results. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Lion One Metals
Limited or its subsidiaries to be materially different from those expressed or
implied by such forward-looking information. Such risks and other factors may
include, but are not limited to: the early stage development of Lion One Metals
Limited, general business, economic, competitive, political and social
uncertainties; the actual results of current research and development or
operational activities; competition; uncertainty as to patent applications and
intellectual property rights; product liability and lack of insurance; delay or
failure to receive board or regulatory approvals; changes in legislation,
including environmental legislation, affecting mining, timing and availability
of external financing on acceptable terms; not realizing on the potential
benefits of technology; conclusions of economic evaluations; and lack of
qualified, skilled labor or loss of key individuals. Although Lion One Metals
Limited has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking information. Lion One Metals Limited does not
undertake to update any forward-looking information, except in accordance with
applicable securities laws.

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