Bison Gold Resources Inc.
TSX VENTURE : BGE

Bison Gold Resources Inc.

August 03, 2011 11:02 ET

Bison Gold Resources Inc.'s Strategic Alternative Review Committee Provides Progress Update

TORONTO, ONTARIO--(Marketwire - Aug. 3, 2011) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (TSX VENTURE:BGE) today provides an update on the Strategic Alternative Review ("SAR") Committee's progress.

Bison Gold's Strategic Alternative Review Committee reports that it is in the process of reviewing multiple arrangements with senior gold producers that may be interested in escalating Bison Gold's exploration program in the Rice Lake region of Manitoba, where the Company has 26 claims over 12.2 sq. miles and 2 past producing mines with historical production of 205,474 oz Au. Confidentiality Agreements have been executed.

The SAR Committee was formed on September 14, 2010 to help unlock shareholder value and further develop Bison Gold's assets. Members of the SAR Committee include Lucas Ewart, President and CEO, Amir Mousavi, V.P. Corporate Development and CFO, Borys Chabursky, Director. The decision to form the SAR Committee was approved by Bison Gold's Board of Directors to focus on possible expansion, investment and joint venture opportunities with other gold companies in the business of exploration and/or gold production.

Lucas Ewart, said, "We believe that this is an opportune time for us to review partnerships with senior gold companies for enhancing shareholder value. However, as we participate in this process, we will continue to move forward with our aggressive exploration program at the Ogama Zone". Bison Gold's Ogama Zone has been the focus of an aggressive drilling program that commenced in November 2011 and has yielded exceptional results.

The following results were initially released on Marketwire on May 30, 2011. The widths reported are drill intercepted core widths and not true widths.

Drill Hole Core interval (m) Width (m) Au g/t
OG-11-09 365.25 - 369.07 3.82 96.5
OG-11-09 182.71 - 185.01 2.3 15.6
OG-11-08 61.18 - 63.09 1.91 206.0
OG-11-08 383.13 - 383.85 0.72 9.4
OG-11-07 411.76 - 413.61 1.85 15.1
OG-11-04 431.14 - 433.29 2.15 14.3
including 433.05 - 438.40 5.35 7.8
OG-10-04 402.77 – 405.23 2.46 37.1
Including 402.77 – 403.53 0.76 117.9
OG-10-04 199.48 – 200.35 0.87 27.3
OG-10-05 485.36 – 511.00 25.64 5.3
including 489.86 – 496.41 6.55 17.6
including 489.86 – 491.63 1.77 50.8
including 493.34 – 496.41 3.07 8.2
including 501.08 – 504.71 3.63 4.5
OG-10-05 158.29 – 159.75 1.46 16.6

The Company has stated that there can be no assurance that this process will lead to the approval or completion of any definitive agreement or other transaction.

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.

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 Manitoba, Canada. Bison Gold's land holdings have historically produced in excess of 200,000 ounces of gold. Further details can be found on Bison Gold's website at www.bisongold.com.

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.

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 & CEO
    (416) 488-2590
    www.bisongold.com