Bear Lake Gold Ltd.

Bear Lake Gold Ltd.

May 15, 2009 12:44 ET

Bear Lake Gold Announces Continued Success and More High-Grade Gold Intercepts at its Bear Lake Gold Zone

LONGUEUIL, QUEBEC--(Marketwire - May 15, 2009) -

Hole #44W2 intersected 8.5 meters grading 10.6 g/t Au

Hole #64 cuts 5.1 meters grading 9.9 g/t gold plus 2.5 meters grading 10.0 g/t gold

Bear Lake Gold Ltd. ("Bear Lake Gold") (TSX VENTURE:BLG) is pleased to announced additional results from the infill drilling program on its 100% owned Bear Lake gold zone of the Larder Lake Project, located in north eastern Ontario.

- Hole #44W2 intersected, at a vertical depth of 650 meters, an 8.5 meter section of carbonate-type mineralization grading 10.6 g/t gold, including 3.5 meters at a grade of 18.3 g/t gold and a second carbonate-type zone intercept of 1.5 meter, grading 8.5 g/t gold.

- Hole #64 intersected, at a vertical depth of 500 meters, a 5.1 meter section of carbonate- type mineralization grading 9.9 g/t gold, including 2.3 meters which yielded 14.9 g/t gold.

- Hole #64 also cut, at a vertical depth of 575 meters, 5.0 meters of flow-type mineralization assaying 5.4 g/t gold, including 2.5 meters grading 10.0 g/t gold.

"The infill drilling program at Bear Lake continues to successfully define the high grade portion of the deposit," said Francois Viens, President and CEO of Bear Lake Gold. "Results obtained to date confirm our interpretation that both high grade and lower grade mineralized zones are located within a wide alteration zone. These results are part of our work to complete, as planned, a NI 43-101 compliant mineral resource estimate this summer."

Hole #44W2 is part of the program to wedge and deepen holes previously stopped short by broken ground associated with a fault zone, located about half way between the carbonate and flow-type mineralized zones that make up the Bear Lake gold deposits. This hole was successfully extended and crossed the broken ground area but was stopped due to technical problems. It will be completed at a later date. However, the intersection of 8.5 meters of carbonate mineralization, grading 10.6 g/t gold, confirms the presence of higher grade shoots within the large and broad zone of alteration and gold mineralization.

Hole #64 was drilled as part of the in-fill program designed to reduce hole spacing and increase our confidence in one of the higher grade gold zone within the heart of the Bear Lake zone. Bear Lake Gold's objective is to complete a compliant with NI 43-101 mineral resource estimate in the summer of 2009.

Link to flow-type mineralization diagram is available at the following address:

Link to carb-type mineralization diagram is available at the following address:

Other new intercepts reported in this news release include hole #63, which intersected 5.0 meters of carbonate-type mineralization grading 1.0 g/t gold and 8.6 meters of flow-type mineralization, which assayed 1.1 g/t gold. Hole #63 provided a second intersection of the carbonate-type zone returning 1.1 g/t gold over 5.5 meters. These intercepts are within a lower grade part of the mineralized zone and are located at a vertical depth of 600 meters.

These new gold intersections confirm that the large gold mineralized system identified at Bear Lake includes both high-grade and low-grade mineralized shoots, similar to the ore zone setting at the former Kerr Addison Mine, located 5 km to the east and that tighter drilling is necessary to establish the full extent of the high-grade gold.

Link to complete assay results to date from the Bear Lake Area as at May 19, 2009 is available at the following address:

Project Update

Three drill rigs are currently working at Larder Lake on the infill drilling of the higher-grade portion of the Bear Lake zone between depths of 400 to 800 meters. Since drilling started in March 2007, more than 49,000 meters of diamond drilling have been completed at Larder Lake.

Work is on-going to complete an initial mineral resource estimate and a NI 43-101 compliant technical report on the Bear Lake zone during the summer of 2009. Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) has been selected to assist Bear Lake Gold in the evaluation of the Bear Lake zone.

Quality Assurance and Control

As part of its QA/QC program, Bear Lake Gold carried out check assays on the high-grade intersections, with no significant discrepancies found in the assay results. The assays reported are the uncut average grades of all determinations from the same samples. The analytical method for gold is one (1) assay-ton fire assay, with gravimetric finish on all samples. All assays reporting over 2 g/t gold are automatically re-checked using the rejects. Assaying is done at Polymet Labs in Cobalt, Ontario. The quality control process includes inserting blank samples and certified standards within each batch sent to the laboratory.

Qualified Person

The technical content of the information contained in this news release was reviewed and approved by Mr. Bernard Boily, P. Geo., and Bear Lake Gold's Vice President of Exploration. He is responsible for supervising the drilling program and is a qualified person under National Instrument 43-101.

Forward-looking Statements

This news release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Bear Lake Gold believes, expects or anticipates will or may occur in the future, are forward-looking information. This forward-looking information reflects the current internal projections, expectations or beliefs of management of Bear Lake Gold, based on information currently available to them. Forward looking information in this news release includes statements regarding the nature of mineralization at Larder Lake, the expected results of drilling on the project and the plan to define a NI43-101 resource at Larder Lake. Forward-looking information is based on assumptions and subject to a number of known and unknown risks and uncertainties beyond Bear Lake Gold's control, including uncertainties related to the outcome of the Company's current drill program and other risks involved in the gold exploration and development industry, as well as those risk factors identified in the Company's most recent Management Discussion and Analysis filed on SEDAR. There can be no assurance that the beliefs and assumptions underlying the forward looking information will prove to be accurate, and actual results could differ materially from those suggested by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Bear Lake Gold undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.

Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.

"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)
    Bear Lake Gold Ltd.
    Gerri Paxton
    Manager, Investor Relations
    450-677-2601 (FAX)