BCGold Corp.

BCGold Corp.

April 29, 2008 15:08 ET

Kinross Gold Corporation to Make Strategic Investment in BCGold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2008) - BCGold Corp. ("BCGold" or the "Company") (TSX VENTURE:BCG) is pleased to announce that Kinross Gold Corporation ("Kinross"), the third largest gold mining company in North America, has agreed to make a strategic investment in BCGold.

BCGold holds a number of quality early and advanced-stage gold exploration properties in British Columbia, including the former high-grade gold producer, Engineer Mine property. In 2007, BCGold spent $2 million on exploration in British Columbia and is planning a similar level of expenditure in British Columbia for 2008.

Under the terms of the investment, Kinross, by way of private placement, has agreed to purchase 3,000,000 common shares of BCGold at a price of $0.35 per share, for total proceeds of $1,050,000, subject to approval by the TSX Venture Exchange ("TSXV"). This equates to a 12.8% equity position in the Company. Shares will be pooled with an escrow agent and released in four equal allotments on a quarterly basis, commencing 15 months from the date of issue. A 6% cash finder's fee is payable to an independent financial management and investment advisory company.

Kinross will have the right to participate in future financings of BCGold to maintain its then equity interest in the Company at up to 10%, subject to TSXV approval and subject to maintaining a minimum 5% equity interest in the Company. BCGold will use the proceeds of this investment from Kinross to offset general operating costs and generative exploration and direct project costs in British Columbia.

"This is a huge vote of confidence in BCGold's exploration land holdings, strategy and management," states Brian P. Fowler, P.Geo., President and Chief Executive Officer of BCGold. "We look forward to a long and productive working relationship with Kinross. As a preferred partner for BCGold, Kinross will be provided preferential consideration by way of option or joint venture agreement to assist BCGold in advancing the Company's gold exploration projects."

About BCGold Corp.

BCGold Corp. (TSX VENTURE:BCG) is a Vancouver-based junior resource company focused on base and precious metal exploration in under-explored historic mining and exploration districts in British Columbia and Yukon. BCGold acquires and advances conceptual, early and mid-stage, quality exploration opportunities towards resource development utilizing internal expertise and by engaging preferred joint venture partners.

On behalf of the Board of Directors,

Brian P. Fowler, P. Geo., President & CEO

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future payments, expenditures and share issuances and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing of future payments, expenditures and share issuances and the timing and success of future exploration, development and production activities.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information