Bear Lake Gold Ltd.

Bear Lake Gold Ltd.

October 05, 2010 08:30 ET

Bear Lake Gold Adds Second Drill at Larder Lake and Extends Expiry of Warrants

LONGUEUIL, QUEBEC--(Marketwire - Oct. 5, 2010) - Bear Lake Gold Ltd. (TSX VENTURE:BLG) (the "Company") announces that it has mobilized a second drill rig to accelerate the pace of its previously- announced program of diamond drilling, consisting of approximately 15,000 meters focused mostly on the Bear Lake zone, at its Larder Lake Project in Ontario.

The Company is also pleased to announce that it has received the consent of the TSX Venture Exchange to the extension of the term of 2,991,495 share purchase warrants issued on October 23, 2008 (the "2008 Warrants") as part of a brokered private placement of its securities. The 2008 Warrants are now exercisable for an extended term expiring on October 23, 2011. The exercise price of $0.40 is unchanged.

Forward-Looking Information

This news release contains certain forward-looking information within the meaning of applicable securities laws, which reflect current expectations of the management of Bear Lake Gold Ltd. regarding future events including the Company's plans to accelerate its current drill program. The Company believes that the expectations and assumptions reflected in the forward-looking information contained herein are reasonable but no assurance can be given that these expectations and assumptions are correct or that that the results implied by forward-looking statements herein will occur. The Company assumes no duty to update or revise forward looking information, except as may be required pursuant to applicable laws. All forward-looking information is expressly qualified in its entirety by this cautionary statement.

"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

  • Bear Lake Gold Ltd
    Francois Viens
    President and CEO
    450-677-2601 (FAX)