Bear Lake Gold Ltd.

Bear Lake Gold Ltd.

April 13, 2010 09:13 ET

Bear Lake Gold: Update on Settlement of Class Action Lawsuit

LONGUEUIL, QUEBEC--(Marketwire - April 13, 2010) - Further to its April 5, 2010 news release announcing that it has reached an agreement in principle to settle the class action commenced in Ontario against the Company, its directors and certain of its current and former officers (the "Class Action"), Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) today announced that an agreement in principle has also been reached with Mr. Bernard Boily, the Company's former Vice President Exploration.

The agreement in principle remains subject to final settlement documentation and court approval. The proposed settlement does not and will not constitute any admission of liability by the Company or its officers, directors or employees.

Forward-looking Statements

This news release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. These forward-looking statements reflect the current internal projections, expectations or beliefs of management of the Company based on information currently available to them. Forward-looking statements are subject to a number of known and unknown risks and uncertainties beyond the Company's control. There can be no assurance that such statements will prove to be accurate. In particular, there can be no assurance that the settlement described herein will be completed upon the terms described or at all, or that other actions will not be commenced against the Company in respect of the same subject matter. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Contact Information

  • Francois Viens
    President and CEO
    450-677-2601 (FAX)
    Carole Plante
    Corporate Secretary