Bishop Gold Inc.

Bishop Gold Inc.

September 27, 2005 10:12 ET

Bishop Announces First Closing of Private Placement, Commencement of Fall Work Program and Formal Settlement/Joint Venture

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 27, 2005) - Bishop Gold Inc. ("Bishop"), listed on the TSX Venture Exchange Inc. (the "Exchange") under the trading symbol "BSG", is pleased to announce that it has closed the first tranche of its previously announced private placement of up to $1,200,000 of units of Bishop at a price of $0.05 per unit. An aggregate of 10,937,500 common shares and 10,937,500 common share purchase warrants ("Warrants") have been issued for aggregate gross proceeds of $546,875, with each Warrant entitling the holder to acquire one (1) common share at a price of $0.10 on or before September 26, 2007. The foregoing common shares and Warrants (and the common shares issuable upon exercise of the Warrants) are subject to a four-month hold period, which will expire on January 26, 2006. An aggregate of $35,240 was paid as cash commissions.

With the completion of the first tranche of its previously announced private placement, Bishop is currently mobilizing its work crew and drill contractor to commence a 1,600 metre diamond drill program on the Lawyers Gold Project in the Toodoggone region of North Central, B.C. Further details regarding the planned work program will be discussed in a subsequent news release.

Bishop is also pleased to announce that it has executed a formal settlement agreement with Guardsmen Resources Inc. ("Guardsmen") on the terms described in the news release dated September 14, 2005 and has entered into a joint venture agreement with Guardsmen in respect of the Alberts Hump properties on the terms described in the September 14, 2005 news release.


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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