Mr. Guy Morissette reports

CONTINUED SUCCESS OF BOUSQUET GOLD DRILLING WITH FIRST HOLES AT DECOEUR PROSPECT

Bullion Gold Resources Corp. and its partner Olympio Metals Ltd. have released results from the first two drill holes at the Decoeur prospect have significantly extended gold mineralization both at depth and along strike. Olympio has an option to earn an 80-per-cent interest in the Bousquet project in Quebec from Bullion Gold Resources in return for an investment of $2-million in exploration work and a cash and share payment of $1.25-million.

Highlights

• Assay results received for the first two holes drilled at the Decoeur prospect within the Bousquet project have extended the mineralization at depth and along strike, including:
  • 14.50 metres at 1.96 grams per tonne Au from 355.50 m (BO-25-40);
  • 3.75 m at 2.24 g/t Au from 13.25 m (BO-25-39).
• Hole BO-25-40 targeted previously unrecognized north-trending structural zones, and has returned the best intercept at Decoeur since the prospect was discovered 80 years ago;
• North-trending mineralized structures are poorly defined by historical drilling and are a priority target for future drilling at Decoeur;
• Hole BO-25-39 has confirmed near-surface gold mineralization associated with the North Bousquet fault and remains untested to the east;
• To date all 12 drill holes completed and assayed across three prospects at Bousquet have successfully intersected high-grade gold mineralization;
• Drilling at Bousquet is continuing with assay results to continue over the next two months;
• The Bousquet project is located on the Cadillac Break in Quebec, Canada, a regional structure associated with world-class gold mines
• Situated within 15 km of multimillion-ounce working gold mines.

Olympio's managing director, Sean Delaney, commented:

"We are delighted to have returned the best intercept at Decoeur with a single targeted drill hole. Hole BO-25-40 has confirmed a previously unrecognized geological interpretation at Decoeur and we are confident that further drilling with this strategy will provide an opportunity to upgrade the scale of the Decoeur prospect. Hole BO-25-39 has significantly extended the Decoeur gold mineralization to the east near surface and supports our interpretation the North Bousquet fault is a fundamental regional structure with previously unrecognized prospectivity for gold mineralization."

"Bullion Gold's management is very encouraged by the steady flow of positive results at Bousquet. Our partner continues to execute at a high level, and the project's proximity to established mining infrastructure could provide significant strategic advantages should future results confirm the potential for an economic gold deposit," said Guy Morissette, chief executive officer of Bullion Gold.

Hole BO-25-40 was designed to test north-trending structures at Decoeur, interpreted from field mapping at Amadee and Decoeur by the Olympio exploration team. Historical drilling was drilled exclusively north-south to test for east-trending structures, thus potentially missing these important north-trending mineralised structures. Hole BO-25-40 was drilled with an azimuth of 220 degrees, and intercepted 14.50 m at 1.96 g/t Au (down hole, see Table 1), the best gold intercept recorded at Decoeur to date. The mineralized zone in hole BO-25-40 is associated with a significantly chlorite-carbonate altered talc-schist unit. The mineralized zone is interpreted to occur in the hangingwall of the North Bousquet fault. The mineralization style and the host lithology (talc schist) are very similar to gold mineralization associated with Piche Group lithologies on the Cadillac Break 1.4 km to the north. The distinctive Piche Group volcano-sedimentary package is intimately associated with gold mineralization at numerous resources along the Cadillac Break.

Hole BO-25-39 was drilled into the interpreted location of the North Bousquet fault to the east of the historically defined Decoeur prospect. The hole intersected 3.75 m at 2.24 g/t Au from 13.25 m (down hole), hosted exclusively in talc-schist, as occurs in hole BO-25-40. Hole BO-25-39 has confirmed the potential for shallow mineralization associated with the Piche Group talc-schists in the hanging wall of the North Bousquet fault. The extent of mapped talc-chlorite schist peripheral to the North Bousquet fault to the east of BO-25-39 represents a high-priority exploration target. The target area is also associated with an IP chargeability anomalies.

Olympio subsequently completed two more drill holes, BO-25-50 and BO-25-51, to the east of hole BO-25-39 targeting mapped talc-chlorite schists in the hangingwall of the North Bousquet fault. Both holes intersected sulphide-bearing altered talc shists, and assay results are expected to be received in the coming month.

The VLF EM data illustrates the continuity of the North Bousquet fault. The recent drilling has confirmed the association between talc-schists in the hangingwall of the North Bousquet fault and gold mineralization. This relationship will be targeted by further drilling, particularly to the east of Decoeur. VLF is a passive EM surveying technique that is well suited to detecting linear conductors. A ground-based VLF survey was conducted over the Bousquet project in 1986. The structures are inferred to host disseminated sulphides and/or graphitic schists which produce an EM response, and potentially also an IP response.

Notably at Decoeur, there has been very little historical shallow drilling. Further drilling at Decoeur (and along the North Bousquet fault) will focus on testing for shallow gold mineralization and north trending structures by drilling at an appropriate azimuth (220 degrees or similar).

Olympio looks forward to keeping the market updated on our continuing drill campaign at the Bousquet project.

QA/QC (quality assurance/quality control)

The NQ drilling program was implanted and run by Explo-Logik in Val d'Or, Que. The drill core was split with half sent to AGAT Laboratories Ltd., Mississauga, and prepared in their facility in Val d'Or, Que. All samples are processed by fire assays on 50 grams with atomic absorption finish and by four acids digestion with ICP-OES finish, respectively, for gold base metals and pathfinder elements. Some veins samples are processed by metallic screen procedure to y assay separately coarse fraction with a cut at 106 micrometres and using one-kilogram sample preparation. Samples preparation duplicates, varied standards and blanks are inserted into the sample stream.

Qualified person

This press release was read and approved by Gilles Laverdiere, PGeo, director, and qualified person under National Instrument 43-101.

About Bullion Gold Resources Corp.

Bullion Gold is involved in the identification, exploration and development of viable mineral properties in the province of Quebec. The company is developing the 100-per-cent-owned Langlade and Bodo SM projects.

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