Bishop Gold Inc.

Bishop Gold Inc.

October 06, 2005 15:00 ET

Bishop Closes Balance of $1.2 Million Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 6, 2005) - Bishop Gold Inc. ("Bishop"), trading symbol (TSX VENTURE:BSG) listed on the TSX Venture Exchange Inc. (the "Exchange"), is pleased to announce that it has closed the balance of its previously announced private placement of up to $1,200,000 of units of Bishop at a price of $0.05 per unit. The first tranche of 10,937,500 units was closed on September 27, 2005. The balance of units, an aggregate of 13,062,500 common shares and 13,062,500 common share purchase warrants ("Warrants") have been issued for aggregate gross proceeds of $653,125, with each Warrant entitling the holder to acquire one (1) common share at a price of $0.10 on or before October 6, 2007. The foregoing common shares and Warrants are subject to a four-month hold period, which will expire on February 7, 2006. An aggregate of $46,280 was paid as cash commissions.


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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