Bear Lake Gold Ltd.
TSX VENTURE : BLG

Bear Lake Gold Ltd.

December 16, 2011 08:30 ET

Bear Lake Gold Files Audited Financial Statements for Year Ended September 30, 2011 and Makes Option Grant

LONGUEUIL, QUÉBEC--(Marketwire - Dec. 16, 2011) - Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) announces that its audited consolidated financial statements, notes and management's discussion & analysis for the year ended September 30, 2011 have been filed on SEDAR at www.sedar.com and are available on the Company's website at www.bearlakegold.com.

The Company also announces that it has approved the grant of an aggregate of 1,320,000 incentive stock options to officers and employees of the Company. Subject to regulatory approval, the options will be exercisable at a price of $0.08 for a period of 5 years. A total of 800,000 options are subject to vesting based upon satisfaction of performance-based criteria and 520,000 will vest over two years.

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.com.

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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