Lions Petroleum, Inc.: Corporate Update.

DENVER -- Lions Petroleum, Inc. (OTCBB:LPET), (formerly "Energy Visions Inc.") ("Lions") announces the following update relating to the spin off of its wholly owned subsidiary Pure Energy Visions Corporation (formerly "Energy Ventures Inc. (Canada)") ("PEVC"):

Further to its press release dated December 22, 2004, Lions has recently been advised that a prospectus must be filed with the applicable securities regulators in order to facilitate the distribution of the common shares in the capital of PEVC held by Lions to its shareholders. While this will take a considerable period of time to complete, it is necessary to ensure that the process is carried out appropriately.

In order to expedite the spin-off, Lions, with the consent of a majority of its shareholders, has issued effective as at September 20, 2004, special warrants (the "Special Warrants") on the basis of 1 Special Warrant for every share of PEVC. Each Special Warrant entitles the shareholders of record as at September 20, 2004, without the payment of any additional consideration, to acquire one (1) common share in the capital of PEVC held by Lions.

PEVC will use its best efforts to obtain, from the Ontario Securities Commission, a receipt for a final prospectus qualifying for distribution the common shares of PEVC to be distributed pursuant to the exercise of the Special Warrants (the "Receipt"). The Special Warrants are exercisable on or before the earlier of the date of issuance of the Receipt (the "Receipt Date"), and the date that is 12 months from the date of issuance of the Special Warrant Certificates (the "Expiry Date"). Any Special Warrants not exercised by the Receipt Date will be deemed to have been exercised by the holders on that date. In the event the Receipt is not obtained by the Expiry Date, Special Warrants not exercised by that date will be deemed to have been exercised by the holders and the common shares of PEVC (the "Shares"), will be distributed as of that date.

Shares distributed upon exercise of the Special Warrants prior to the issuance of the Receipt (or in the event the Receipt is not issued), will be subject to an indefinite statutory hold period in Canada, during which period of time the Shares may not be re-sold. Such hold period(s) will expire in a particular jurisdiction 12 months from the date PEVC becomes a reporting issuer in that jurisdiction.

Upon the exercise, or deemed exercise, of all of the Special Warrants, the shareholders of Lions, as at September 20, 2004, will own all of the common shares of PEVC and effectively will own the historical business relating to rechargeable batteries and fuel cells, conducted by PEVC. PEVC is currently negotiating to increase its holdings in Pure Energy Inc., whose 100% owned subsidiary, Pure Energy Visions Inc., owns a battery manufacturing plant in Amherst, Nova Scotia whose 'Pure Energy' rechargeable alkaline batteries are the #1 selling brand of rechargeable batteries in Canada.

Certain statements in this press release constitute "forward looking statements" within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the companies' management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein.

Lions Petroleum Inc. (OTC Bulletin Board:LPET)