BCGold Corp.
TSX VENTURE : BCG

BCGold Corp.

April 02, 2007 16:00 ET

BCGold Corp. and Stealth Minerals Option Agreement Approved

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) - BCGold Corp. (TSX VENTURE:BCG) ("BCGold") and Stealth Minerals Limited ("Stealth") have received regulatory approval for the option agreement entered into in September 2006.

BCGold Corp. has chosen three of Stealth's Toodoggone properties, namely, Sickle-Sofia, FogMess and Louis. BCGold can earn a 51% interest in each of the properties by spending $1 million on each property over a three year period and a 60% interest by spending $2 million on each property over a four year period. BCGold's interest in any of the three properties can be increased to 75% by producing a bankable feasibility study. A NI 43-101 Technical Report was completed on the Sickle-Sofia copper-gold porphyry prospect, which is available on SEDAR.com. BCGold is the operator.

BCGold will close on the second tranche of 1,750,000 shares of Stealth at $0.20 per share for a total of $350,000 payable to Stealth on March 30th, 2007. The first tranche of 750,000 shares of Stealth at $0.20 per share closed in October 2006.

BCGold will also issue to Stealth 450,000 units consisting of 450,000 BCGold Corp common shares and 450,000 warrants. Two warrants and cash are required to acquire one common share. The cash per share is determined by the 20 day average closing price of the common shares of BCGold ending on the trading day prior to the date of closing times a factor of 125%.

ON BEHALF OF THE BOARD OF DIRECTORS

Brian P. Fowler, P.Geo., President and Chief Executive Officer

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the completion of transactions and the use of proceeds. 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 ability to complete contemplated transactions and the use of proceeds.

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

Contact Information

  • BCGold Corp.
    Sacha C. Fernandes
    Manager, Investor Relations
    (604) 646-1581
    or
    BCGold Corp.
    Freeman Smith, P. Geo.
    VP Corporate Development
    (604) 646-1583
    (604) 642-2411 (FAX)
    Website: www.bcgoldcorp.com