BOZ

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Banks Island Gold Ltd. (the "Company") (TSX VENTURE:BOZ) wishes to announce a
non-brokered private placement offering (the "Unit Offering") of up to 166,667
units (the "Units") at a price of $0.60 per Unit and an offering(the "FT
Offering") up to 381,000 flow-through common shares (the "FT Shares") at a price
of $0.66 per FT Share. Gross proceeds from the Unit Offering and FT Offering
will total $351,460. Each Unit in the Unit Offering is comprised of one common
share of the Company and one half of one non-transferrable share purchase
warrant. One whole warrant entitles the holder to purchase one additional share
of the Company at a price of $1.00 per share until October 13, 2014. If, during
the exercise period of the Warrants, the closing price of the Company's common
shares is $1.50 per share or higher for 20 consecutive trading days, the Company
may accelerate the expiry date of the warrants to 30 days from the date written
notice of same is provided to the holders. The securities issued in connection
with the Unit Offering, FT Offering and Finder's Units (as defined below) are
subject to a hold period which expires at midnight on October 13, 2012.


The Company will issue an aggregate of 13,333 Units (the "Finder's Units"),
representing 8% of the number of Units sold pursuant to the Unit Offering, as a
finder's fee in connection with the Unit Offering. The Finder's Units will be
comprised of one common share and one half of one non-transferable share
purchase warrant, which securities will have the same terms as the Units.


The gross proceeds from the Unit Offering will be used for potential
acquisitions and, along with the proceeds of the FT Offering, to continue
exploration and development activities on the Company Bank's Island Property
located on Banks Island in British Columbia.


The securities have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "1933 Act"), or under any state
securities laws, and may not be offered or sold, directly or indirectly, or
delivered within the United States or to, or for the account or benefit of, U.S.
persons (as defined in Regulation S under the 1933 Act) absent registration or
an applicable exemption from the registration requirements. This news release
does not constitute an offer to sell or a solicitation to buy such securities in
the United States.


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 Bank's Island Property, the actual results of current
exploration activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of gold, as well as a
number of other factors relating to the mineral exploration industry, generally,
and as otherwise discussed in certain of the Company's disclosure documents
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)
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Da Ago 2024 a Set 2024

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