BCGold Corp.
TSX VENTURE : BCG

BCGold Corp.

March 18, 2009 14:10 ET

BCGold Corp. Amends Engineer Mine Property Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2009) - BCGold Corp. ("BCGold" or the "Company") (TSX VENTURE:BCG) is pleased to announce that it has re-negotiated the terms of its option agreement on the Engineer Mine Property with Engineer Mining Corp. ("EMC"). Under the amended agreement, BCGold will be entitled to defer all cash payments and securities issuances (beginning with the cash payments and securities issuances originally due by January 16, 2009) by one year, with due dates recommencing on January 16, 2010, by electing on or before July 1, 2009 to do one of the following:

a) paying $30,000 to EMC on or before July 1, 2009; or

b) de-watering the lower 3 levels of the Engineer Mine in 2009.

In the case that BCGold elects (b) above, BCGold will be required to use its best efforts to de-water the Engineer Mine under a permit that allows for a higher rate of discharge than the existing Waste Discharge permit PE14978 (the application for which is currently under review). The election of (b) above will also entitle EMC to 30% of the net proceeds from the sale of gold extracted from the Double Decker vein between the 5th level underhand stope, immediately below the 326 and 327 stopes, down dip to the R805 stope on the 8th level in the Engineer Mine, after payment of costs and expenses associated with the extraction.

The Engineer Mine Property has a potential mineral target of 100,000 to 150,000 tonnes averaging 8-12 g/t gold (containing between 26,000 and 57,000 ounces of gold). This estimate is conceptual in nature, is non NI 43-101 compliant and based on a 3-D Vulcan™ model developed by BCGold that incorporates historic geological maps and sections, chip samples and production records. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in this target being delineated as a mineral resource.

BCGold has an option to earn a 100% interest in the Engineer Mine Property, with no underlying royalties.

"We are pleased that we were able to revise our agreement with EMC," states Brian P. Fowler, P.Geo., President and Chief Executive Officer of BCGold. "This amendment allows BCGold to focus cash reserves on near-term exploration and discovery at Engineer Mine and provides us with an opportunity to raise exploration capital under better market conditions."

The Engineer Mine

The Engineer Mine Property is situated 32 kilometres west of Atlin, British Columbia, and 140 kilometres south of Whitehorse, Yukon. The historic Engineer Mine was a high-grade gold producer that reached its zenith in the mid-1920s. More than 560 kilograms of gold were reportedly produced at a realized grade exceeding 39 g/t Au from high-grade epithermal quartz-carbonate veins on 5 mine levels. The presence of visible gold was the primary method of identifying and following ore shoots in the veins. All veins remain open at depth and little exploration has been conducted deeper than 200 metres below surface.

About BCGold Corp.

BCGold Corp. (TSX VENTURE:BCG) is a Vancouver-based junior resource company focused on copper and gold exploration in under-explored historic mining and exploration districts in British Columbia and Yukon. BCGold acquires and develops conceptual, early and mid-stage exploration opportunities and advances them towards resource development by using internal expertise, engaging preferred joint venture partners, and creating strategic alliances with major exploration and mining companies.

Marc Jutras, M.A.Sc., P.Eng., Vice President, Evaluations for BCGold and a Qualified Person for the purposes of National Instrument 43-101 has reviewed the technical content related to the mineral potential stated in this press release.

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 mineral potential and planned 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, realized mineralization of properties and the timing and success of future exploration, development and production activities.

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.

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