BCGold Corp.
TSX VENTURE : BCG
PINK SHEETS : BCGOF

BCGold Corp.

October 06, 2011 08:30 ET

BCGold Corp. Recovers Gold and Completes Bulk Sampling/Test Milling At Engineer Gold Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2011) - BCGold Corp. (TSX VENTURE:BCG)(PINK SHEETS:BCGOF) (or the "Company") is pleased to provide an update for the recently completed bulk sampling and test milling component of a Phase I exploration program at the Company's Engineer Gold Mine, situated in northwestern British Columbia. Highlights of the Company's progress include the following:

-- Six composite bulk samples totalling 400 tonnes were successfully mined, transported and stockpiled at the mill staging area for processing. Five of the samples representing the Engineer Vein were mined from underground workings and extracted via the 5-Level portal. The sixth sample was mined by surface trenching the Double Decker Vein (previously reported August 16, 2011).

-- Wire gold in roscoelite and/or fine gold in quartz were observed in all six bulk samples, confirming the BCGold Corp. geology and mineralization model.

-- Refurbishment of the on-site gravity separation mill is complete and milling commenced on September 3rd. Approximately 300 tonnes of material was processed from the six bulk samples. Milling was completed October 1st.

-- Sampling was conducted at all stages of the crushing, grinding, Deister table, and tailings circuits to determine mining head grade as well as milling performance. Preliminary sub-sample assay results are expected by late October.

-- Continuous streams of fine (+/- coarse) gold were observed on the finishing table for three of the bulk samples. Intermittent gold was observed for the other three bulk samples. Images and video of the bulk sampling and test milling program can be viewed on the Company's web site under the Engineer Mine section (to view, click here).

-- Approximately 800 kg of table concentrate was collected from the mill's recovery circuit. Gold separated on the finishing table was collected for processing of gold-silver dore. The remaining concentrate is being shipped for metallurgy testing and will be monetized if warranted.

"We are very pleased with the functionality of the on-site mill, and even more so with the amount of visible gold we have seen crossing the finishing table," states Brian P. Fowler, P.Geo., President and Chief Executive Officer of BCGold Corp. "The mill appears to be very effective at concentrating and recovering vein gold at Engineer Mine. Subsequent metallurgical test work on bulk sample concentrates will provide the basis for any additional bulk sampling and mining. Any net revenue derived from recovered gold sales of the bulk sample concentrate will be used to support further exploration and development."

In addition to bulk sampling and test milling at Engineer Mine this year, the Company carried out an airborne geophysical survey and conducted over 600 metres of excavator trenching, geological mapping and sampling on a number of veins and bulk-tonnage shear zone targets on the property (see press release dated August 16, 2011). Assay results from this work are expected in November.

BCGold Corp.'s 2011 exploration program is Phase I of the two-phase, three-year, $10.2 million exploration and development program recommended by Snowden Mining Industry Consultants Ltd. in their April 2011 National Instrument 43–101 Technical Report for the Engineer Gold Project (available at www.bcgoldcorp.com). The report describes an Inferred Mineral Resource estimate of 41,000 tonnes grading 19.0 g/t gold (including 14,000 tonnes grading 52.5 g/t gold) for the partially-mined Engineer and Double Decker Veins (see press release March 4, 2011).

Bulk Samples

Six composite bulk samples totalling 400 tonnes were successfully mined and stockpiled at the mill staging area. Five of the samples representing the Engineer Vein were mined from underground workings and extracted via the 5-Level portal. The sixth sample was mined by surface trenching the Double Decker Vein. See table below for bulk sample descriptions. A cross section and surface plan showing bulk sample locations can be viewed on the Company's web site.

Table 1 Engineer Mine Bulk Sample Descriptions
Bulk Sample Tonnes
Mined
Vein Name / Location Comments
DD Trench 50 Double Decker Vein / Surface Surface expression of Double Decker Vein. Recent channel sample returned 979 g/t Au (see press release August 16, 2011)
505-2 95 Engineer Vein / 5 Level Adjacent to a 1995 – 23 tonne bulk sample assayed 25.9 g/t Au
505-3A 52 Engineer Vein / 5 Level North face of Stope 505-3; Represents 900 tonne block
505-3B 91 Engineer Vein / 5 Level Pillar of Stope 505-3; 1995 – 9 tonne bulk sample assayed 18.4 g/t Au
505-5 82 Engineer Vein / 5 Level Pillar of Stope 505-5
505-6 30 Engineer Vein / 5 Level Represents 500 tonne block between Raises 505-5 and 505-6;
Total Tonnes
Mined
400 - -

Mill & Metallurgy

On-site mill refurbishment has been completed and milling of bulk sample material commenced September 3rd. Approximately 300 tonnes of the bulk samples have been milled. An additional 100 tonnes remain stockpiled for future milling if warranted. The average feed rate to the ball mill averaged 1.4 tonnes per hour. Mill availability averaged 7.1 hours per day with a substantial amount of time required to flush out the circuit between bulk samples. The ball mill slurry was screened to -30 mesh before pumping to triple deck Deister tables where approximately 2% of the rock mass was concentrated and sent to a finishing table. At the finishing table the concentrate was further refined, producing approximately 800 kg of sulphide-rich concentrate with gold reporting to it. When a gold line was observed on the finishing table, it was collected to be refined into a gold-silver dore. Milling was completed on October 1st.

Sampling was conducted at all stages of the crushing, grinding, Deister table, and tailings circuits to determine mining head grade as well as milling performance. A rigorous quality assurance and quality control (QA/QC) program was implemented. Bulk sample table concentrate will be submitted for assay analysis, mineralogical and metallurgical test work. All samples and table concentrate have now been shipped off site.

BCGold Corp. is pleased to announce that Gekko Systems of Ballarat, Australia will be conducting the metallurgy study. Gekko Systems specializes in design and development of mineral processing equipment with a focus on gravity separation. They will conduct bench-scale gravity and leach amenability tests on mill feed and table concentrate provided from the Engineer Mill. Results of the study will be used to maximize gold recovery of the Engineer Mine mill feed. Metallurgical results should be available in early 2012.

Darren O'Brien, P.Geo., Vice President Exploration for BCGold Corp. and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About the Engineer Mine

BCGold Corp. owns a 60% interest in the Engineer Mine property, with an option to earn a 100% interest.

Engineer Mine was a high-grade gold producer that came to peak production in the mid-1920s and ceased operation in the early 1930s. More than 560 kilograms of gold and 278 kilograms of silver were officially produced at realized grades exceeding 39 g/t Au and 20 g/t Ag, from high-grade epithermal quartz-carbonate veins on six of eight mine levels.

There are more than 25 known veins on the property and only 4 have undergone limited production and exploration to date. All veins remain open at depth and little exploration has been conducted deeper than 200 metres below surface.

The Company consolidated its land position around Engineer Mine in 2010 by signing an option agreement to acquire a 100% interest in the adjacent Gold Hill property. The 2,100 hectare Gold Hill property includes the Happy Sullivan high-grade gold epithermal prospect and a 2.2 kilometre segment of the highly prospective Shear Zone "B" structure.

About BCGold Corp.

BCGold Corp. (TSX VENTURE:BCG) is a Vancouver-based junior resource company focused on copper and gold exploration and development 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. Currently, institutional investors hold 21% of the Company's outstanding shares and Kinross Gold Corporation holds 8%.

On behalf of the Board of Directors,

Brian P. Fowler, P. Geo., President & CEO

Some statements in this news release contain forward-looking information or forward-looking statements. These statements include, but are not limited to, statements with respect to future expenditures 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 and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration, development and production activities. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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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