Bear Lake Gold Ltd.
TSX VENTURE : BLG

Bear Lake Gold Ltd.

September 12, 2012 08:35 ET

Bear Lake Gold Announces Drilling Results at Larder Lake, Wide Mineralized Zones Intersected at Fernland

LONGUEUIL, QUÉBEC--(Marketwire - Sept. 12, 2012) - Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) is pleased to announce initial results of the drilling program conducted by Gold Fields at the Company's Larder Lake gold project located on the prolific Cadillac-Larder Lake Break in the mining district of Northeastern Ontario.

Gold Fields' initial drilling program was focused on the Fernland zone to investigate the potential for lower grade but wider mineralization. Since the beginning of the program ten holes totaling 3,975m have been drilled. The results indicate the presence of lower grade, yet wider mineralization in the Fernland zone.

Table 1
LARDER LAKE DRILL RESULTS
Hole no. From
(m)
To
(m)
Core length
(m) *
Gold
(g/t)
Comments Zone
GF-12-110 131.0 148.0 17.0 1.25 Flow-Type? Fernland
including 7.42g/t over 1.0m
195.5 197.8 2.3 0.96 Carbonate-Type? Fernland
GF-12-111 144.0 154.0 10.0 2.12 Flow-Type? Fernland
including 5.99g/t over 2.0m
GF-12-112 214.0 215.0 1.0 2.1 Flow-Type? Fernland
222.0 223.5 1.5 1.96 Flow-Type? Fernland
GF-12-113 Assays pending Fernland
GF-12-114 Assays pending Fernland
GF-12-115 Assays pending Fernland
GF-12-116 Assays pending Fernland
GF-12-117 Assays pending Fernland
GF-12-118 70.0 92.0 22.0 1.52 Flow-Type? Fernland
including 2.90g/t over 8.7m
GF-12-119 164.5 166.6 2.1 1.78 Quartz vein Fernland
* Information available to date does not allow estimation of true width
NSA = No Significant assay

Gold Fields is also conducting drilling, geochemical, geologic mapping and geophysical activities over the entire Larder Lake project. One drill is currently active at site and more drills will be mobilized as soon as additional targets are identified.

In April 2012, the Company and Gold Fields Abitibi Corporation signed an Option and Joint Venture agreement entitling Gold Fields to acquire 60% of the Larder Lake gold project by spending C$40 million over 5 years with a firm commitment to spend C$5 million by May 2013 (see press release dated April 10, 2012).

QA/QC

As operator of the project, Gold Fields has implemented and conducted a rigorous QA/QC program. Gold Fields Abitibi Exploration follows an internal QA/QC program which includes evaluation of field blanks, certified standards, pulp duplicates, coarse duplicates and Au repeats. The shipments are bagged, sealed, and shipped to the ALS Global Laboratory, a certified facility in Timmins, Ontario for preparation. After preparation a pulp split is shipped to ALS Global Laboratory, a certified facility in North Vancouver, BC for geochemical analysis.

Additional Exploration Results

The Company has received the assay results of the last 19 holes of the 15,215m drilling program initiated in 2011, which included eleven holes at Cheminis, six holes at Bear Lake and two holes at Fernland. Most holes intersected various gold values and confirmed the presence of the mineralized corridor at Bear Lake and Cheminis. Hole BLG-12-108 drilled on the Bear Lake zone intersected 5.36 g/t gold over 4.0 m. Complete drill results will be available on the Company's website. The results were submitted to a rigorous QA/QC program set up and supervised by P&E Mining Consultants Inc., an independent geological and mining consulting firm from Brampton, Ontario.

Qualified Person

The technical disclosure contained in this press release was approved by Francois Viens, President and CEO of the Company. Mr. Viens, P. Eng. is a 'qualified person' within the meaning of that term under NI 43-101.

Forward-Looking Information

This news release contains certain "forward-looking information" under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Specifically, this news release contains forward looking information about the drilling results and interpretation of these results. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.

About Bear Lake Gold

Bear Lake Gold Ltd. is focused on the exploration and development of the Larder Lake gold project in Ontario, Canada. The common shares of the Company trade on the TSX Venture Exchange under the symbol BLG. Additional information about the Company is available on its website, www.bearlakegold.com and on SEDAR at www.sedar.ca.

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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