Bishop Gold Inc.
TSX VENTURE : BSG

Bishop Gold Inc.

August 05, 2005 14:40 ET

Bishop Disputes Default Claim

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 5, 2005) - Bishop Gold Inc. ("Bishop") (TSX VENTURE:BSG), listed on the TSX Venture Exchange Inc. (the "Exchange") under the trading symbol "BSG", announces that it has recently received a notice from Guardsmen Resources Inc. ("Guardsmen"), the vendor of its Al/Bonanza and Lawyers properties located in the Toodoggone district of North Central British Columbia, claiming that Bishop is in default pursuant to terms of the Mineral Claim Purchase and Sale Agreement ("Agreement") between Guardsmen and Bishop dated July 22, 2003 due to a delayed royalty payment to Guardsmen.

Concurrently with the delivery of this notice, Mr. Scott Gifford, a director of Bishop as well as a director and significant shareholder of Guardsmen, officially tendered his resignation as a director of Bishop. Following the resignation, Bishop currently has 3 active directors and is actively seeking another independent director for the board.

Bishop strongly disputes the claim of default by Guardsmen and counsel for Bishop and Guardsmen are presently in discussions regarding the matter. Further information will be released as received.

ON BEHALF OF BISHOP GOLD INC.

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.

Contact Information

  • Bishop Gold Inc.
    Investor Relations
    (604) 681-2575
    (604) 681-2577 (FAX)