Mr. Guy Morissette reports

BULLION GOLD PROVIDES UPDATES ON ITS BOUSQUET, LANGLADE, AND BODO (RIVON ZONE) EXPLORATION PROJECTS

Bullion Gold Resources Corp. has provided an update on the progress of its exploration programs at its Bousquet, Langlade and Bodo projects, all located in strategic areas of Quebec.

Highlights

Bousquet project:

• Olympio Metals has paid $300,000 in cash and shares to date to Bullion Gold and spent nearly $1-million on exploration work to date.
• Assay results are expected in the coming weeks.

Langlade project:

• A surface exploration program is under way to verify the extensions of the Langlade zone and prepare a 2,000-metre drilling program.
• The company is awaiting drilling permits.
• The identified mineralization is typical of VMS (volcanogenic massive sulphide) deposits, rich in copper, zinc and silver.

Bodo project (global sector):

• The company is awaiting assay results from samples from areas outside of Rivon and is currently evaluating the planning of an initial drilling program.

Bodo project -- Rivon zone:

• A recently completed airborne magnetic-TDEM survey demonstrates a strong correlation between magnetic anomalies and the various shear zones already identified at surface and in historical drilling.
• The company confirms the presence of at least five gold-bearing and polymetallic shear zones containing gold, silver, copper, zinc and lead. Rock analyses also revealed the presence of cobalt and nickel.
• These zones are hosted within a mineralized envelope nearly one kilometre wide, with kilometre-long structures in a north-south orientation. Grab samples returned exceptional grades of up to 15.75 per cent copper, 384 grams per tonne silver, 6.85 g/t gold and 1.21 per cent zinc. The company is currently in discussions with financial partners to initiate a drilling program on the Rivon zone.

"We are encouraged by the progress of our projects. At Bousquet, ongoing work confirms the gold potential of new thick, sulphide-rich zones. At Langlade, we are preparing for a drilling program that could better define the potential of a polymetallic VMS deposit. Finally, at Bodo, geophysical and geological data from the Rivon zone highlight a large-scale polymetallic system that quickly merits an initial drilling program," said Guy Morissette, president and chief executive officer of Bullion Gold Resources.

Geological context

The Bousquet project is located in the heart of the Bousquet-Cadillac mining camp. This project covers gold-bearing structures associated with the Cadillac-Larder Lake fault, a regional structure recognized worldwide for having produced tens of millions of ounces of gold. The Paquin, Decoeur and Amadee zones feature gold-bearing quartz veins hosted in shear zones and favourable volcanic rocks. Olympio Metals holds an option to acquire an 80-per-cent interest in this project in exchange for a cash and share payment of $1.25-million and $2-million in exploration expenditures. Bullion Gold Resources will then retain an undivided 20-per-cent interest in this project (net carried interest).

The Langlade zone, consisting of 72 mining cells with a total area of approximately 4,125 hectares, is a polymetallic VMS (copper-zinc-silver) showing. The historically identified massive and semi-massive sulphides suggest a fertile volcanic hydrothermal system. Exploration aims to better define the lateral extensions of this mineralization and confirm the potential for an economic deposit. The current exploration program aims to test new surface targets in the northern extension of the main showing, as well as to verify several electromagnetic anomalies in the eastern part of the property. However, a significant overburden cover in certain areas limits ground prospecting. The company is awaiting its permits to begin its stripping and drilling program.

The Bodo project comprises 763 claims covering an area of 410 square kilometres. It is located in a complex structural environment favourable to the emplacement of polymetallic systems. The Rivon zone includes several continuous north-south-trending gold and polymetallic shear zones, hosted within a mineralized envelope of nearly one km. The high copper and silver grades observed reinforce the importance of this zone, which appears to be a prime target for a future drilling program. The company has obtained permits to undertake drilling in this area. The program aims to drill the mineralized corridor over its entire width to assess the number of mineralized structures present in this envelope. Currently, the company estimates the presence of at least five mineralized structures containing strategic minerals and precious metals. However, the estimate of the actual number of mineralized structures is limited by the presence of overburden between the different shear zones traced at surface.

Private placement

The company also announces that it has closed a private placement, pursuant to which it issued 2,392,857 flow-through share units of the company at a price of seven cents for gross proceeds of $167,500. The company also issued two million share units of the company at a price of five cents for gross proceeds of $100,000.

Each flow-through unit consists of one flow-through share and one-half of one common share purchase warrant, each warrant entitling the holder to purchase one additional common share in the capital of the company for a period of 12 months from the closing date of the private placement, at a purchase price of 10 cents per common share. Each unit consists of one common share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share in the capital of the company for a period of 24 months from the closing date of the private placement, at a purchase price of eight cents per common share.

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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