BCGold Corp.
TSX VENTURE : BCG

BCGold Corp.

September 21, 2010 09:00 ET

BCGold Corp. Amends Voigtberg Property Agreement With Kaminak Gold Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2010) - BCGold Corp. (TSX VENTURE:BCG) (or the "Company") and Kaminak Gold Corp. ("Kaminak") are pleased to announce a second amendment to the Voigtberg Property Option Agreement, entered into on August 18, 2006 (see BCGold Corp. news release September 15, 2006). This amendment is subject to TSX Venture Exchange (the "Exchange") approval and comprises the following:

  • Kaminak will extend by one year the dates on or before which the Company must incur additional eligible exploration expenditures of $350,000 and $650,000 in order to increase its interest in the Voigtberg property to 60%. The amended dates are September 15, 2011 and September 15, 2012, respectively.

  • The Company will issue 100,000 BCGold Corp. common shares to Kaminak 15 days after receipt of Exchange approval.

BCGold Corp.'s recent completion of a $100,000 work program on the Voigtberg property vests the Company's 50% interest in the property. The work program entailed geological mapping, sampling and prospecting, which focused on a number of geophysical and geochemical copper, gold and molybdenum anomalies defined by previous work. A total of 160 rock samples and 12 soil samples were collected from these anomalies. Sample assay results are pending and the Company expects to follow-up the more encouraging results by drilling in 2011.

Previous Exploration at Voigtberg

The Voigtberg property is located four kilometres north of the Galore Creek access road and proposed hydro-electric power corridor in northwest British Columbia, Canada. 

BCGold Corp. has incurred in excess of $1,000,000 in eligible exploration expenditures on the Voigtberg property to date by conducting geological mapping, sampling, soil geochemical and airborne geophysical surveys, and limited diamond drill programs in 2006 and 2007. The Company's past exploration focus at Voigtberg was the "Gold Zone," a northeast elongated area measuring 400 by 650 metres coincident with a >300 parts per billion (ppb) gold in soil anomaly and an induced polarization (IP) chargeability high.

In 2006 BCGold Corp. drill hole VGT06-05 returned a near-surface intercept of 51.15 metres grading 1.03 g/t gold, including 18.17 metres grading 1.87 g/t gold. Step-out drill hole VGT07-10, drilled in 2007 by the Company 75 metres east of VGT06-05, intersected 76.40 metres that averaged 0.40 g/t gold. The Gold Zone is believed to represent a gold-rich halo located on the periphery of a porphyry copper-molybdenum system. It has been partially defined by six drill holes over a strike length of 300 metres and remains open along strike and at depth.

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 and emerging mining districts in British Columbia and Yukon. BCGold Corp. 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.

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 unit 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 unit issuances 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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