Bridgeport Ventures Inc.
TSX : BPV

Bridgeport Ventures Inc.

October 25, 2010 07:00 ET

Bridgeport Ventures Inc. Acquires Gold Properties in Nevada

TORONTO, ONTARIO--(Marketwire - Oct. 25, 2010) - Bridgeport Ventures Inc. (TSX:BPV) ("Bridgeport") is pleased to announce that it has agreed to acquire from Fronteer Gold Inc. ("Fronteer") a 100 per cent interest (with minor exceptions) in 10 mineral properties in Nevada, USA.

Fronteer will become the largest shareholder of Bridgeport with 4.5 million shares. In addition, Fronteer will retain a 2 per cent net smelter royalty in the properties.

Bridgeport's CEO, Shastri Ramnath said, "The acquisition of these properties by Bridgeport represents a unique opportunity to acquire a large, attractive land position in one of the world's leading gold jurisdictions. We are pleased to welcome Fronteer as a major shareholder and look forward to maintaining a relationship with their team. The initial property assessment undertaken by Dr. Matthew Gray and myself indicate that the geological environment of the properties is favourable for gold mineralization and that they can be quickly advanced to the drill stage. Bridgeport plans on aggressively exploring the properties. Initially, activity will be focussed on the Argentite and Black Rock properties."

All 10 properties are located in gold districts that have produced or are currently producing significant gold. Four of the properties are located in a high grade epithermal setting known as the Walker Lane trend; four exhibit gold mineralization consistent with Carlin-type systems, and two are located in a mesothermal gold environment.

Closing of the transaction will take place as soon as title verification and regulatory approvals have been obtained including the approval of the Toronto Stock Exchange. Bridgeport will begin work on the properties immediately thereafter. A $10 million program is planned over the next eighteen months.

About Bridgeport Ventures

Bridgeport Ventures Inc. (TSX:BPV) is a Canadian mineral exploration company with operations in the Americas. Its strong technical team with local experience has a solid record of discovery and a proven history of mining success. Additional information on Bridgeport can be found at: www.bridgeportventures.net.

To date, there has been insufficient exploration drilling to define a mineral resource on the properties referenced above, and it is uncertain if further exploration drilling will result in a mineral resource being defined.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Bridgeport, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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