Bear Lake Gold Ltd.
TSX VENTURE : BLG

Bear Lake Gold Ltd.

October 09, 2008 08:50 ET

Bear Lake Gold Changes Year End; Grants Stock Options

LONGUEUIL, QUEBEC--(Marketwire - Oct. 9, 2008) - Bear Lake Gold Ltd. (the "Company" or "Bear Lake") (TSX VENTURE:BLG) announces that the Company has changed its financial year-end to September 30, from its prior year-end of December 31. The Company made this change to align its year-end with that of its wholly-owned subsidiary Maximus Ventures Ltd., which it acquired through a business combination by way of statutory plan of arrangement that became effective on September 16, 2008.

Option Grant

The Company announces the grant to a director of an incentive stock option to acquire 100,000 common shares of Bear Lake (adjusted to reflect the Company's two-for-one share consolidation that came into effect on September 23, 2008), under the Company's stock option plan. The option is exercisable at $0.70 per share, which is equivalent to the market closing price on the day preceding the grant. The option has a five-year term and will vest over a two-year period. The option is subject to the policies of the TSX Venture Exchange.

About Bear Lake Gold

Bear Lake Gold is engaged in the exploration of gold and precious mineral properties in North America. On September 16, 2008, the Company completed a business combination with Maximus Ventures Ltd. ("Maximus"), its partner in the Larder Lake project. In connection with the transaction, the Company changed its name from NFX Gold Inc. to Bear Lake Gold Ltd. Additional information about the Company is available on the Company's website at www.bearlakegold.com and on SEDAR at www.sedar.ca.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.

Contact Information

  • Bear Lake Gold Ltd.
    Francois Viens
    President and CEO
    450-677-1009
    450-677-2601 (FAX)
    www.bearlakegold.com
    or
    Bear Lake Gold Ltd.
    Gerri Paxton/Louise Quinn
    Investor Relations
    450-677-2054/677-3523
    gpaxton@bearlakegold.com
    lquinn@ bearlakegold.com