Bear Lake Gold Ltd.
TSX VENTURE : BLG

Bear Lake Gold Ltd.

September 23, 2010 11:28 ET

Bear Lake Gold Reports Drill Results at Larder Lake: Second Diamond Drill to Arrive Shortly

LONGUEUIL, QUÉBEC--(Marketwire - Sept. 23, 2010) - Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) is pleased to announce the first drill results of its 2010 drill program at the Larder Lake property, in Ontario. Hole 49-W3 intersected 1.7 g Au/t over 9.5m in flow-type mineralization at a depth of 850m and hole 78 intersected 1.9 g Au/t over 4.5m at a depth of 700m, also in flow-type mineralization. The following table highlights the results in all three holes. The attached longitudinal sections show the location of the drill holes.

Table – Highlights

Hole From To Core Length(.1) Au (g/t) Zone
           
NFX-08-49W3 883.0 892.3 9.3 0.29 Carb.
  1017.0 1026.5 9.5 1.74 Flow
including 1022.8 1025.5 2.7 4.75 Flow
           
BLG-10-77 702.5 704.0 1.5 0.16 Carb.
           
BLG-10-78 696.5 701.0 4.5 1.43 Carb.
  735.5 738.6 3.1 1.47 UM
  819.0 823.5 4.5 1.90 Flow

(.1)It is not possible at this time to determine true widths. All widths of intercepts reported are core length.

Hole 49-W3 is a re-drill of hole 49, and holes 77 and 78 were drilled on the eastern edge of the mineralized envelope for logistical reasons. The drilling confirmed the presence and extended the typical mineralized alteration zones, and intersected both Carbonate-type and Flow-type mineralization with the exception of Hole 77. This hole was abandoned after deviating too far off target and did not reach the flow-type mineralization. The intensity and characteristics of alteration encountered in these holes will allow the Company to focus more accurately on the interpreted location of the higher grade lenses within the heart of the Bear Lake deposit. The alteration can also be used as a vector toward locating higher grade zones outside the actual mineralized envelope. (See link to longitudinal map below)

Longitudinal Section Carbonate-type Mineralization: http://www.bearlakegold.com/i/maps/LarderLake_Long_Sep10_Carb.jpg

Longitudinal Section Flow-type Mineralization: http://www.bearlakegold.com/i/maps/LarderLake_Long_Sep10_Flow.jpg

2010 Work Program

Following the completion of a $3.76M Financing, the drilling program is now underway at Larder Lake with one drill working on site. A second drill is scheduled to arrive later this month to accelerate the drilling. The program consists of approximately 15,000 meters of diamond drilling focused mostly on the Bear Lake zone. The campaign will mainly target the upper part of the Bear Lake zone at depths between 400m and 1,200m from surface with the objective to define and expand the higher grade mineralized lenses, including both the Carbonate and Flow-type mineralized horizons. The objective is to complete a NI43-101 compliant resource estimate as soon as the density of drilling is sufficient on the Bear Lake zone. The Larder Lake properties extend over 13km straddling the prolific Cadillac-Larder Lake fault zone, host of the historic Kerr Addison mine (11M ounces of gold produced), which is located some 4km to the east. Easily accessible, the properties are close to major infrastructure including a paved road and power line.

QA/QC

The Company has implemented a rigorous QA/QC program independently set up and supervised by P&E Mining Consultants Inc., of Brampton, Ontario. The program includes chain of custody of samples, drill core sawn in half and shipped in sealed bags to Laboratoire Expert, a certified assay laboratory located in Rouyn Noranda, Quebec. Blank samples, blind duplicates and certified standards are also inserted in the sample stream. Samples with gold values higher than 10g Au/t are re-analysed via the metallic screen procedure. Samples containing visible gold are also analysed systematically with the metallic screen analysis.

Qualified Person

The 2010 work program is directed by Francois Viens, P. Eng., President and CEO of Bear Lake Gold. Mr. Viens is a Qualified Person as defined by NI 43-101. Mr. Viens prepared and approved the content of this press release.

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 Company's plans for the work program to be carried out at Larder Lake and plans to complete a resource estimate. 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 engaged in the exploration of gold and precious mineral properties in North America. Additional information about the Company is available on the Company's 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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