Bear Lake Gold Ltd.
TSX VENTURE : BLG

Bear Lake Gold Ltd.

June 09, 2009 08:30 ET

Bear Lake Gold Announces New High-Grade Gold Intercepts From Its Bear Lake Gold Zone

Hole #65 Intersected 3.0 Meters Grading 10.0 G/T Au, Hole #66 Cuts 2.7 Meters Grading 10.6 G/T Gold Plus 3.1 Meters Grading 14.8 G/T Gold and 3.2 Meters Assaying 10.5 G/T Gold

LONGUEUIL, QUEBEC--(Marketwire - June 9, 2009) - Bear Lake Gold Ltd. ("Bear Lake Gold") (TSX VENTURE:BLG) is pleased to announced more results from the infill drilling program on the Bear Lake gold zone of its 100% owned Larder Lake Project, located in north eastern Ontario.

- Hole #65 intersected, at a vertical depth of 600 meters, a 6.7 meter section of carbonate-type mineralization grading 6.2 g/t gold, including 3.0 meters at a grade of 10.0 g/t gold.

- Hole #66 intersected, also at a vertical depth of 600 meters, a 9.6 meter section of carbonate-type mineralization grading 8.4 g/t gold, including 2.7 meters which yielded 10.6 g/t gold and 3.1 meters that assayed 14.8 g/t gold.

- Hole #66 also cut, at a vertical depth of 700 meters, 5.6 meters of flow-type mineralization assaying 7.1 g/t gold, including 3.2 meters grading 10.5 g/t gold.

- Hole #53W3 cut, at a vertical depth of 975 meters, a 1.0 meter section of carbonate-type mineralization grading 10.5 g/t gold.

Holes #65 and #66 were drilled as part of the in-fill program designed to reduce hole spacing and increase confidence in one of the higher grade gold envelopes within the heart of the Bear Lake zone. Due to technical difficulties, hole #65 did not reach the projected flow-type mineralization but has been wedged and is in progress towards the flow-type mineralization. This infill drilling program at Bear Lake continues to successfully define the high grade portion of the deposit and results obtained to date confirm our interpretation that both high grade and lower grade mineralized zones occur within a wide alteration envelope.

Hole #53W3 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 compose the Bear Lake gold deposits. This hole crossed the broken ground area but was stopped early due to technical problems. However, the intersection of 1.0 meter of albitized carbonate mineralization grading 10.5 g/t gold confirms the presence of high grade gold values on the other side of the fault, within the large and broad zone of alteration and gold mineralization, at depths of more than 900 meters.

Link to flow-type mineralization diagram:

http://media3.marketwire.com/docs/06-09-09-Long-Bear-Flow-type.pdf

Link to carb-type mineralization diagram:

http://media3.marketwire.com/docs/06-09-09-Long-bear-carbonate-type.pdf

The 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 tighter drilling is necessary to establish the size and extent of the high-grade zones within this large gold mineralized envelope.

Link to complete assay results to date from the Bear Lake Area as at June 9, 2009:

http://media3.marketwire.com/docs/table3.pdf

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 52,000 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.

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., 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 interpretation of drilling results 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.

"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."

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

Contact Information

  • Bear Lake Gold Ltd.
    Francois Viens
    President and CEO
    Tel: 450-677-1009
    450-677-2601 (FAX)
    www.bearlakegold.com
    or
    Bear Lake Gold Ltd.
    Gerri Paxton
    Manager, Investor Relations
    Tel: 450-677-2054
    450-677-2601 (FAX)
    gpaxton@bearlakegold.com