Equip the .416 rifle. When you first enter the "arena", move to the left. There should be a cave. Wait in front and the lion will charge. Just before it hits you, shoot it, then jump into the cave. Go out the other end. Move straight for the lion. When you are close enough, it will turn around and swing at you. Shoot just as soon as it turns around. Note: You must keep running at the lion before and after you shoot it. By doing this, after you shoot it you will be close enough to the cave to jump back into it. Do this repeatedly until the lion dies.