Mr. Francois Viens reports

BEAR LAKE GOLD ANNOUNCES DRILLING RESULTS AT LARDER LAKE, WIDE MINERALIZED ZONES INTERSECTED AT FERNLAND

Bear Lake Gold Ltd. has released initial results of the drilling program conducted by Gold Fields Abitibi Corp. at the company's Larder Lake gold project, located on the prolific Cadillac-Larder Lake break in the mining district of Northeastern Ontario.

Gold Fields' initial drilling program was focused on the Fernland zone to investigate the potential for lower-grade but wider mineralization. Since the beginning of the program, 10 holes totalling 3,975 metres have been drilled. The results indicate the presence of lower-grade but wider mineralization in the Fernland zone.

                             
                      LARDER LAKE DRILL RESULTS                         

             From      To  Core length(1)  Gold
Hole No.       (m)     (m)          (m)    (g/t)              Comments

GF-12-110   131.0   148.0         17.0     1.25     Including 7.42 g/t
                                                            over 1.0 m
            195.5   197.8          2.3     0.96
GF-12-111   144.0   154.0         10.0     2.12     Including 5.99 g/t
                                                            over 2.0 m
GF-12-112   214.0   215.0          1.0      2.1
            222.0   223.5          1.5     1.96
GF-12-113                                               Assays pending
GF-12-114                                               Assays pending
GF-12-115                                               Assays pending
GF-12-116                                               Assays pending
GF-12-117                                               Assays pending
GF-12-118    70.0    92.0         22.0     1.52     Including 2.90 g/t
                                                            over 8.7 m
GF-12-119   164.5   166.6          2.1     1.78

(1) Information available to date does not allow estimation of true width.                                                 

Gold Fields is also conducting drilling, geochemical, geologic mapping and geophysical activities over the entire Larder Lake project. One drill is currently active at site, and more drills will be mobilized as soon as additional targets are identified.

In April, 2012, the company and Gold Fields signed an option and joint venture agreement entitling Gold Fields to acquire 60 per cent of the Larder Lake gold project by spending $40-million over five years with a firm commitment to spend $5-million by May, 2013 (see press release dated April 10, 2012).

Quality assurance/quality control

As operator of the project, Gold Fields has implemented and conducted a rigorous quality assurance/quality control program. Gold Fields follows an internal quality assurance/quality control program that includes the evaluation of field blanks, certified standards, pulp duplicates, coarse duplicates and gold repeats. The shipments are bagged, sealed and shipped to ALS Global Laboratory, a certified facility in Timmins, Ont., for preparation. After preparation, a pulp split is shipped to ALS Global Laboratory, a certified facility in North Vancouver, B.C., for geochemical analysis.

Additional exploration results

The company has received the assay results of the last 19 holes of the 15,215-metre drilling program initiated in 2011, which included 11 holes at Cheminis, six holes at Bear Lake and two holes at Fernland. Most holes intersected various gold values and confirmed the presence of the mineralized corridor at Bear Lake and Cheminis. Hole BLG-12-108, drilled on the Bear Lake zone, intersected 5.36 g/t gold over four metres. Complete drill results will be available on the company's website. The results were submitted to a rigorous quality assurance/quality control program set up and supervised by P&E Mining Consultants Inc., an independent geological and mining consulting firm from Brampton, Ont.

Qualified person

The technical disclosure contained in this press release was approved by Francois Viens, PEng, president and chief executive officer of the company. Mr. Viens is a qualified person within the meaning of that term under National Instrument 43-101.

We seek Safe Harbor.