Bishop Gold Inc.

Bishop Gold Inc.

November 01, 2005 11:17 ET

Bishop Announces $250,000 Private Placement and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 1, 2005) - Bishop Gold Inc. ("Bishop") (TSX VENTURE:BSG), listed on the TSX Venture Exchange Inc. (the "Exchange") under the trading symbol "BSG", is pleased to announce a private placement offering for maximum gross proceeds of $250,000 through the issuance of a total of 3,571,428 units ("Units") of the Corporation at a purchase price of $0.07 per unit. Each Unit will consist of one common share and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to acquire one common share of the Company for a period of two years at an exercise price of $0.12 per share.

Proceeds from this private placement will be used to for general working capital.

This placement is subject to acceptance by regulatory authorities and the TSX Venture Exchange. The shares issued under the private placement will be subject to a four-month hold period. A finder's fee may be paid in connection with the private placement.

Bishop also announces that its directors have approved the grant of a total of 1.5 million options to acquire common shares in the capital of Bishop at a price of 12 cents for five years to certain key officers, directors and consultants of Bishop.


Terry Fields, President

The company seeks safe harbor on forward-looking statements.

The TSX Venture Exchange Inc. has neither approved nor disapproved of the contents of this press release.

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