Bowmore Exploration Ltd.

December 04, 2009 08:30 ET

BOWMORE Exploration Ltd.: Corporate Update

MONTREAL, QUEBEC--(Marketwire - Dec. 4, 2009) - BOWMORE Exploration Ltd. (TSX VENTURE:BOW) ("The Company") is pleased to provide a corporate update for its third quarter ended September 30th, and to provide an update on its exploration activities in Mexico.

In addition to finalizing the strategic partnership with Osisko Mining Corporation and completing the $4.2 Million financing at the beginning of July, the Company is pleased to report that it had received proceeds of $1,642,540 from the exercise of warrants which expired on August 28th, 2009.

These warrants were issued as part of the August 2008 non-brokered private placement financing whereas Bowmore issued a total of 5,380,000 Non Flow through Units (the "NFT Units") and 1,500,000 Flow Through Units (the "FT Units") of the Corporation. The NFT Units consisted of 1 purchase warrant and the FT Units consisted of one half purchase warrant. With the proceeds of the exercise of the warrants and existing cash on hand, this provided the Company with a total of $5.3 million cash at the end of the period ended September 30, 2009.

The Company also completed the acquisition of the "Paraje Azule" property covering a total of 12 claims with 2847 hectares surrounding the majority of the Sta-Elvira property.

On November 24, 2009 the Company provided a detail update on the exploration activities on the Sta-Elvira property in Mexico covering the geological mapping, sampling, the geochemical profile and mineralization found on the property. This information can be reviewed in detail by referring to the Company's News Release dated November 24, 2009.

Bowmore has entered into an agreement with G4 Drilling Inc. for its 2000 meter drill program on the Sta-Elvira property. The drill and grew has been mobilized and has been on site since Monday November 30, 2009 and is expected to start drilling Saturday December 5, 2009.

Mr. Paul Dumas, President of Bowmore, stated "That we are pleased with everything we have accomplished in the last quarter, our partnering with Osisko, strengthening our balance sheet and increasing our cash position. With the gold trading at today's prices, juniors still seem to have difficulty in financing themselves. We are fortunate to be in this position and to have solid shareholders. We are also pleased to see the drill program getting underway at the Sta-Elvira property, the terrain in this area has been somewhat challenging. Our investors will be able to view a series of photos of the Sta-Elvira site, camp and drilling within the next couple of days by visiting our website"

G4 Drilling Inc. is a Canadian base drilling company that has operations mainly in Canada and Mexico since 2006. G4 owns 23 drills and can provide reverse circulation, surface and underground coring. G4 has contracted with companies such as; Agnico Eagle, Coeur d'Alene, Grupo Mexico and Teck just to name a few.

is a Canadian exploration mining company focused on precious metal exploration in Canada and Mexico. The Company trades on the TSX Venture Exchange under the symbol "BOW".

For further information on BOWMORE, visit

Forward-looking statements:
Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; Actual results and future events could differ materially from those anticipated in such statements.

Neither 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.

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