BCGold Corp.
TSX VENTURE : BCG

BCGold Corp.

July 12, 2010 08:15 ET

BCGold Corp. Earns 100% Interest in Minto/Carmacks Copper-Gold Properties, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2010) - (TSX VENTURE:BCG) – BCGold Corp. (or the "Company") is pleased to announce that it accelerated the final payment under its property option agreement (the "Agreement") with Mr. Shawn Ryan and secured a 100% interest in 17 copper-gold properties in Yukon. The 17 properties, collectively the Minto/Carmacks Copper-Gold Properties (or the "Properties"), comprise approximately 16,985 hectares of mineral claims strategically centered in a rapidly emerging high-grade copper-gold district, some 220 kilometres northwest of Whitehorse.

The final cash payment of $50,000 and issuance of 100,000 Units, due October 15, 2010, was made by the Company on July 7, 2010 and thus completes the Company's obligations under the terms of the Agreement. Each "Unit" consists of one common share of BCGold Corp. and one-half of a common share purchase warrant, each whole warrant exercisable to purchase one common share of BCGold Corp. for two years following the date of issuance at a price of $.50.

The Company now has a 100% interest in the Minto/Carmacks Copper-Gold Properties, subject to a 1.75% net smelter royalty which BCGold Corp. can reduce to 0.5% by paying $1,500,000 to Mr. Ryan.

"By securing an immediate 100% interest in the Properties, BCGold Corp. improves its position to negotiate near-term option agreements and 2010 work commitments with suitable partners," stated Brian P. Fowler, P.Geo., President and CEO of BCGold Corp. "This further enhances the possibility of a 2010 copper-gold discovery for the BCGold Corp. shareholder, in addition to drill programs scheduled to commence on 3 of the Properties (Toe, Pepper and WS) later this month."

The Agreement

Signed November 1, 2006, the Agreement provided the Company with the option to acquire a 100% interest in the Minto/Carmacks Copper-Gold Properties by paying $300,000 cash to Mr. Ryan, issuing 1,000,000 BCGold Corp. common shares and 500,000 BCGold Corp. common share purchase warrants to Mr. Ryan, and incurring $900,000 in exploration expenditures. All obligations had the option to be accelerated at the Company's discretion. For full details of the Agreement please see BCGold Corp. news release dated November 27, 2006.

About the Minto/Carmacks Copper-Gold Properties

The Minto/Carmacks Copper-Gold Properties were staked over areas with geological, geochemical and geophysical characteristics known to indicate potential near surface, high-grade, structurally controlled copper-gold mineralization in the Minto/Carmacks Copper-Gold Belt. Along this trend lie Capstone Mining Corp.'s Minto Mine and Western Copper Corp.'s Carmacks Copper Project, which is in the advanced permitting stage.

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.

Contact Information