Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

September 15, 2011 16:25 ET

Bison Gold Resources Inc. Provides Exploration Update and Grants Stock Options

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2011) - Bison Gold Resources Inc. (Bison Gold or the "Company") (TSX VENTURE:BGE) is pleased to announce it has completed a total of 31 holes on the Central Manitoba Property and are currently awaiting 1050 assay results from drill holes OG-11-15 through to OG-11-28. Drill holes OG-11-16 through to OG-11-28 were designed to test near surface gold mineralization discovered by Bison personnel this past summer and gold in soil geochemical anomalies.

Surface exploration will continue on the Property throughout the fall. A 29 line-km grid is near completion on the Eldorado zone where extensive geological mapping, trenching and channel sampling has been ongoing since June. The Eldorado zone, a quartz vein hosted gold-bearing structure has been followed and traced for > 1 km and additional en echelon gold-bearing structures have been identified. Bison plans to conduct a surface-based VLF-EM and magnetometer survey on the Eldorado grid to further aid in targeting for diamond drilling after freeze-up this fall.

The table below outlines the highlights of the 516 assay results received to date from surface exploration (see also press release dated July 8, 2011).

Sample UTM E UTM N Type AREA Au g/t
490621 332181 5641903 gr Eldorado 64.23
490604 332220 5641851 gr Eldorado 41.67
490617 332181 5641903 gr Eldorado 40.91
490609 332134 5641978 gr Eldorado 23.80
490625 332164 5641934 gr Eldorado 11.83
490707 331079 5641528 gr Eldorado 10.15
420416 332755 5639582 gr Ogama HW3 313.40
420708 332031 5639540 gr Ogama SW 75.96
420219 332265 5639412 gr Ogama South 64.44
420777 332404 5640421 gr Ogama North 57.99
420383 332034 5639537 gr Ogama SW 39.06
420727 331780 5640052 gr Rockland West 30.38
420404 332681 5639534 gr Ogama HW2 22.67
420536 332251 5639579 gr Ogama SW 16.91
420436 332786 5639563 gr Ogama HW3 11.56
420403 332681 5639534 gr Ogama HW2 10.46
Note: "gr" = grab sample

"To date, we have identified and outlined 10 additional near-surface gold-bearing structures within 1 km of the Ogama mine workings that will be drill-tested this fall and winter," stated Lucas Ewart, President and CEO of Bison Gold.

QA/QC

Drill core was sawed, with half sent to TSL Labs in Saskatoon, SK and the other half retained for reference. Most gold analyses were done using 50g fire assay with AA finish. A gravimetric finish is employed where samples return gold values in excess of 3000 ppb. Screen metallics techniques were used on samples with visible gold. TSL maintains a strict quality control program with standards, blanks and duplicates included with every sample series. Standards and blanks are inserted regularly by Bison Gold personnel in to the sample series at their core processing facility. All rock samples from surface exploration follow the same rigorous protocols. A representative sample for each sample sent for assay is collected in the field and stored at Bison's core processing facility.

All exploration activities for Bison Gold are under the supervision and guidance of David C. Benson, P.Geo, and a Qualified Person under NI 43-101. Mr. Benson has reviewed the technical portions of this news release. Scott Snider, B.Sc., Exploration Manager and Lori Stewart, M.Sc., GIT supervise field operations and database management.

In addition, the Company is pleased to announce that under the Company's Stock Option Plan (the "Plan"), the Board of Directors of Bison Gold granted to Directors, Officers and employees of the Company incentive stock options to purchase an aggregate of 950,000 common shares of the Company at an exercise price of $0.20 per share expiring September 6, 2016. The incentive stock options are subject to acceptance by the TSX Venture Exchange. The number of shares reserved for issuance under the Plan is 6,806,148 of which 5,902,501 have been granted under the Plan.

About Bison Gold

Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold, base metal and rare element exploration with property assets in Canada. The flagship property, Central Manitoba, is historically the 2nd largest gold producer in the prolific Rice Lake Greenstone Belt after San Gold Corp.'s Rice Lake Mining Operations. Further details can be found on Bison Gold's website at www.bisongold.com.

We seek safe harbour. This news release contains forward-looking statements regarding the timing and content of upcoming programs and may be subject to regulatory approval. Actual results may differ materially from those currently anticipated in such statements. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Bison undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither the 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.

Contact Information

  • Bison Gold Resources Inc.
    Mr. Lucas Ewart
    President and CEO
    (416) 488-2590
    www.bisongold.com