BOZ

Banks Island Gold Ltd. (TSX VENTURE:BOZ) (the "Company") is pleased to provide
an update on exploration activities on the Banks Island Gold Project and
corporate activities.


EXPLORATION UPDATE

The Company recently completed 1,923m of diamond drilling in nine diamond drill
holes at the Tel Zone. Diamond drilling primarily targeted the Tel zone below
the current resource. Several mineralized intercepts were encountered and have
been submitted for assay. The Company has begun preparations to drill test three
of the strongest conductive anomalies determined from the VTEM plus time-domain
airborne geophysical survey flown by Geotech Ltd. in September 2011. Diamond
drilling is expected to commence in early March 2012.


LETTER OF INTENT ON NORTH AMERICAN GOLD PROPERTY

The Company announces that it has entered into a nonbinding Letter of Intent
(LOI) which allows Banks Island Gold an exclusive right to perform a due
diligence on a North American gold property. The LOI requires that the due
diligence be conducted in a confidential manner until a decision to proceed with
the acquisition has been made by the Company. The Company has paid a
non-refundable deposit of $100,000 to secure exclusive rights for a 120 day
period to conduct due diligence and to negotiate an option agreement on the
property. The Company has no obligation to enter into any agreement and there is
no guarantee or assurance that any agreement will result from the Company's due
diligence. If the Company does enter into any agreement in the future, it will
then issue a news release.


SKANDERBEG CAPITAL PARTNERS

The Company announces that it has retained the services of Skanderbeg Capital
Partners Inc. ("Skanderbeg") as a corporate development consultant. Skanderbeg
is a merchant banking group, focused on identifying, structuring and operating
companies with highly prospective business opportunities around the world.
Skanderbeg maintains offices in both North America and Europe and is
headquartered in Vancouver, British Columbia.


Skanderberg will be paid a monthly fee of $7,000 for an initial term of 12
months and will be granted 200,000 stock options of the Company, exercisable at
50 cents per share. The options will vest at a rate of 25% per quarter from date
of grant and are exercisable for a period of 5 years. The Agreement and the
grant of options pursuant to the Agreement are subject to regulatory approval.


RENMARK FINANCIAL

The Company announces that it has retained the services of Renmark Financial
Communications Inc. ("Renmark") to handle its investor activities and reinforce
Banks Island Gold's profile in the financial community and enhance the
visibility of its project portfolio.


Renmark Financial Communications Inc. is a Montreal and Toronto based full
service investor relations firm representing small, medium and large cap public
companies trading on all major North American exchanges.


In consideration of the services to be provided, the Company has agreed on a
monthly agreement starting March 1, 2012 paying a monthly retainer of $7,000 to
Renmark. Renmark does not have any interest, directly or indirectly, in the
Company or its securities, or any right or intent to acquire such an interest.


The Company is a junior mining resource exploration company focused on exploring
for and developing economically viable mineral resources. The Company's mineral
property is located on Banks Island in British Columbia. For more information,
please refer to the Company's website at www.banksislandgold.com.


ON BEHALF OF THE BOARD OF DIRECTORS

Benjamin W. Mossman, P.Eng., President, Director, & Chief Executive Officer

This press release contains forward-looking statements. All statements, other
than statements of historical fact, constitute "forward-looking statements" and
include any information that addresses activities, events or developments that
the Company believes, expects or anticipates will or may occur in the future
including the Company's strategy, plans or future financial or operating
performance and other statements that express management's expectations or
estimates of future performance.


Forward-looking statements are generally identifiable by the use of the words
"may", "will", "should", "continue", "expect", "anticipate", "estimate",
"believe", "intend", "plan" or "project" or the negative of these words or other
variations on these words or comparable terminology. These statements, however,
are subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed, implied by or projected
in the forward-looking information or statements. Important factors that could
cause actual results to differ from these forward-looking statements include but
are not limited to: risks related to the exploration and potential development
of the Company's project, the actual results of current exploration activities,
conclusions of economic evaluations, changes in project parameters as plans
continue to be refined and future prices of gold as well as those factors
discussed in the sections relating to risk factors of the Company prospectus
dated September 30, 2011 filed on SEDAR.


There can be no assurance that any forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader should not place any
undue reliance on forward-looking information or statements. Except as required
by law, the Company does not intend to revise or update these forward-looking
statements after the date of this document or to revise them to reflect the
occurrence of future unanticipated events.

Grafico Azioni Banks Island Gold Ltd. (TSXV:BOZ)
Storico
Da Giu 2024 a Lug 2024

Grafico Azioni Banks Island Gold Ltd. (TSXV:BOZ)
Storico
Da Lug 2023 a Lug 2024