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BCGold Corp. Amends Property Agreement with Blind Creek Resources Ltd.

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Vancouver, British Columbia, July 28, 2015 (TSX-V: BCG) - BCGold Corp. ("BCGold" or the "Company") is pleased to announce that the Company and Blind Creek Resources Ltd. ("Blind Creek") have signed a second amendment to the Blind Creek Letter Agreement, under which BCGold may earn up to a 100% interest in the Blind Creek property (see August 19, 2013 and August 12, 2014 news releases). The amendment, subject to TSX Venture Exchange approval, includes the following:
  • Each of BCGold’s annual option commitments over four years, totalling $400,000 in eligible exploration expenses, issuance of 1,000,000 BCGold common shares, and cash payments of $225,000 to Blind Creek, are extended by one year. 
  • In consideration of the above, BCGold will issue 100,000 common shares to Blind Creek 15 days after receipt of Exchange approval of the amendment.
About the Blind Creek Property

The Blind Creek property is situated adjacent to BCGold’s 100% owned historic Engineer Mine property, located 32 km southwest of Atlin, B.C. The 1,105 ha property overlays the southeastern extensions of two shear structures (Shear A and Shear B) that are known to host broad zones of gold-bearing hydrothermal breccias on the Engineer Mine property. The Blind Creek property also partially overlays an untested 250-m wide, circular magnetic high and coincidental gold and arsenic-in-soil anomaly, flanked by a 1,000-m-long resistivity high and occurring at the intersection of the Shear A and Shear B structures. These features are believed to represent a near-surface intrusion and gold-bearing alteration envelope, and possible core of the Engineer Mine epithermal gold mineralizing system. The Company is positioning itself to drill test this target when better market conditions prevail.

About BCGold

BCGold is a Vancouver-based junior resource company focused on copper and gold exploration in underexplored, historic and emerging mining districts in British Columbia and Yukon. The Company acquires and develops conceptual, early and mid-stage exploration opportunities and advances them towards resource development.

BCGold’s primary gold asset is the 100% owned, historic high-grade gold Engineer Mine property, situated 32km southwest of Atlin, B.C. At Engineer Mine, the Company is uniquely positioned and fully permitted for small-scale mining and on-site milling. In 2011 the Company successfully mined and milled 246 tonnes of vein material from the Engineer Vein on Level 5 and produced and monetized 800 kg of gravity concentrate for a return of $US107,000. This bulk sampling program identified 2 accessible high-grade gold exploration targetson the Engineer Vein between 5 and 8 Levels. Subsequent mine de-watering, geological mapping and panel sampling in 2012 confirmed the existence of these two exploration targets on 6 and 7 Levels, and re-established a third that was cut off by a dyke on 5 Level.

BCGold is seeking the means to finance a $2 million seasonal mining and on-site milling operation at Engineer Mine, mining up to 15,000 tonnes of mineralized material and producing between 7,000 to 10,500 ounces of gold in concentrate.* The Company is aggressively marketing this opportunity and remains highly encouraged by continued qualified expressions of interest. With the current US currency exchange rate and fuel prices, small, high-grade gold mines in Canada, such as Engineer Mine, continue to represent excellent investment opportunities.

*Readers are cautioned that the Company has not completed a pre-feasibility or feasibility study which establishes mineral reserves with demonstrated economic and technical viability. Further, the Company cautions readers that any potential production may not be economically feasible and historically projects taken to production without establishing reserves through a feasibility study have a much higher risk of economic or technical failure.

On behalf of the Board of Directors, 

Brian P. Fowler, P. Geo. 
President & CEO 

For further information, please contact:

Brian P. Fowler
Tel: 604-697-2401

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Some statements in this news release contain forward-looking information or forward-looking statements. These statements include, but are not limited to, statements with respect to future expenditures and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration, development and production activities. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.