Bear Lake Gold Signs Agreement to Transfer Mining Claims to Armistice Resources

Bear Lake Gold Ltd. (TSX VENTURE:BLG) today announced that it has signed an
agreement to transfer the right, title and interest to 18 mining claims (the
"Barber Larder Property") to Armistice Resources Corp. (TSX:AZ). 


In consideration for the transfer of the Barber Larder Property, Armistice will
grant to Bear Lake a 4% net smelter return royalty, subject to Armistice's right
to purchase 1% of the royalty for $1,000,000 under certain circumstances. In
addition, Armistice has agreed to indemnify Bear Lake from and against any and
all claims of whatever kind and nature that may in the future be imposed on,
incurred by, or asserted against Bear Lake in connection with the Barber Larder
Property. The transaction is expected to close once certain Planning Act
approvals have been obtained.


The 18 mining claims totalling 627 acres are located in the eastern part of Bear
Lake's Larder Lake project and are contiguous to the western boundary of
Armistice's McGarry mine. A drift (tunnel) already connects the Barber Larder
Property to the McGarry mine and extends onto the property for a distance of
approximately 1,300 feet at a depth of 2,250 feet from surface. This will grant
Armistice immediate access to the Barber Larder Property and allow for rapid,
efficient, and more cost-effective exploration of the property than from
surface.


About Bear Lake Gold 

Bear Lake Gold Ltd. is focused on the exploration and development of the Larder
Lake gold project located on the prolific Cadillac-Larder Lake Break in
north-eastern Ontario. The Larder Lake project consists of a 100% interest in
the Bear Lake, Cheminis, Fernland, and Barber Larder properties, and a 75%
interest in the Swansea property. The common shares of the Company trade on the
TSX Venture Exchange under the symbol BLG. Additional information about the
Company is available on its website, www.bearlakegold.com and on SEDAR at
www.sedar.ca. 


Cautionary Statement 

This press release contains forward-looking information. In particular, this
press release contains statements concerning the completion of a proposed
transaction between Bear Lake and Armistice. Forward-looking information is
subject to known and unknown risks and uncertainties, and depends on assumptions
and other factors, all of which may cause actual results or events to differ
materially from those anticipated in such forward-looking information. There can
be no assurance that the transaction will be completed. The forward-looking
statements contained in this press release are made as of the date hereof and
Bear Lake undertake no obligations to update publicly or revise any
forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

Bear Lake Gold Ltd. (TSXV:BLG)
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