BCGold Corp.
TSX VENTURE : BCG

BCGold Corp.

May 05, 2009 09:10 ET

BCGold Corp. Granted Permit to Dewater Engineer Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2009) - BCGold Corp. ("BCGold" or the "Company") (TSX VENTURE:BCG) is pleased to announce the receipt of an amended permit, from the British Columbia Ministry of Environment, to fully dewater the historic Engineer Mine in 2009. BCGold is formulating plans to dewater the lowest 3 levels of the 8 level, former high-grade gold producer. This dewatering will provide access for geological mapping and bulk sampling and allow the Company to drill off selected, partially mined high-grade gold segments of the Engineer and Double Decker veins.

BCGold's Engineer Mine Property offers excellent potential for near-term, small-scale, high-grade gold production from existing underground headings on the formerly gold producing Engineer, Double Decker and Boulder veins. Dewatering of the mine will provide access to the lowest level of the mine, the 8th Level, which has remained flooded since the mine closed in the early 1930s. It is on the 8th Level, along the Double Decker Vein, that historic sampling records indicate a 24.7 metre section that averaged 38.03 g/t Au, containing a 10.0 metre interval that averaged 84.35 g/t Au across the width of the drift (Brinker Report, 1927). Reportedly, only 10 metres was mined above this interval on the 8th Level before the mine closed in the early 1930s, primarily due to water ingress issues and an overwhelmed and antiquated mine water pumping system.

"This is an important step towards unlocking value at Engineer Mine," states Brian P. Fowler, P.Geo., President and Chief Executive Officer of BCGold. "BCGold is committed to developing a compliant mineral resource and fast-tracking Engineer Mine towards a small-scale commercial production decision."

BCGold is assembling a skilled and experienced team of mining and technical experts for the 2009 Engineer Mine exploration program. The Company has most of the required equipment on site to facilitate underground dewatering, rehabilitation and bulk sampling of vein zones below the 5th Level. It also has the ability to process gold "ore" by utilizing a fully operational and permitted 25 tonne per day gravity separation mill on the property.

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

The technical contents of this release have been reviewed by Gary Lustig, P. Geo., of G. N. Lustig Consulting Ltd., a Qualified Person pursuant to NI 43-101.

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 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.

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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