Lions Bay Capital Inc. announced the receipt of very encouraging results from the recent exploration work on the Savic rare earth exploration areas in Western Victoria, Australia. The results include spectacular assays of over 2% total rare earths from samples taken from water bores drilled by the Victorian government which are 9 km east of the most recent drilling program carried out by Lions Bay. Under the agreement with Savic LBI has the right to earn a 50% interest in the project area by spending $5 million on exploration over 3 years.