BOZ

Banks Island Gold Ltd. (TSX VENTURE:BOZ) (the "Company") is pleased to provide
an update on the exploration program on the Yellow Giant Gold Project located
near Prince Rupert, BC. 


Company geologists are currently working on structural interpretation of faults
in a 2km section of the western metasediment belt between the Tel and Bob Zones.
The importance of structural control of mineralization in this area has recently
been highlighted through the discovery of a new mineralized vein from tunneling
activities at the Bob Zone. This parallel vein graded 28gpt Au over
approximately 0.3m true width. Recent trenching at the main Bob Zone outcrop and
at the surface expression of the parallel vein has provided insight and
experience to the Company's geological team. Recently acquired LiDAR and
airphotos are being used for targeting of high priority structures by the
diamond drill crew.


During drilling of the Discovery Zone, a wide stockwork zone of gold-sulphide
mineralization was encountered in the hangingwall rocks. This zone is assumed to
be part of the historic Englishman Zone. A continuous zone of mineralized
stockwork at the Englishman Zone was encountered in drillhole DIS-13-33 with an
intercept of 3.7gpt Au over 14.4m true width and drillhole DIS-13-35 with an
intercept of 1.2gpt Au over 11.6m true width. The Englishman Zone is open to the
northwest and further drilling is planned to determine the extent of gold
mineralization in this area. The Company believes further drilling at Englishman
has high potential for delineation of new mineral resources similar to recently
reported results at the Kim Zone.


Significant mineralized intersections at the Englishman Zone are displayed in
Table 1.




     Table 1 - Significant Mineralized Intersections at Englishman Zone     
----------------------------------------------------------------------------
                                      Core       Estimated                  
Hole        From (m)  To (m)  Interval (m)  True Width (m) Au (gpt) Ag (gpt)
----------------------------------------------------------------------------
DIS-13-33       64.5    81.5          16.9            14.4      3.7        7
----------------------------------------------------------------------------
DIS-13-35       73.5    87.1          13.6            11.6      1.2        3
----------------------------------------------------------------------------



Diamond drilling at the Discovery Zone was focused on expansion of the current
mineral resource. The Discovery Zone was successfully intersected at the
south-east periphery of the mineral resource. Highlights include drillhole
DIS-13-25 with an intercept of 28.1gpt Au over 1.9m true width and drillhole
DIS-13-23 with an intercept of 13.4gpt Au over 3.6m true width.


Significant mineralized intersections at the Discovery Zone are displayed in
Table 2.




Table 2 - Significant Mineralized Intersections at Discovery Zone           
----------------------------------------------------------------------------
                                       Core      Estimated                  
Hole         From (m)  To (m)  Interval (m) True Width (m) Au (gpt) Ag (gpt)
----------------------------------------------------------------------------
DIS-13-23        88.5    92.1           3.6            2.9     13.4       21
----------------------------------------------------------------------------
DIS-13-24        69.4    71.0           1.6            1.5     14.4       19
----------------------------------------------------------------------------
DIS-13-25        79.2    82.1           2.9            1.9     28.1       28
----------------------------------------------------------------------------



The Company is currently drilling near surface at the Bob Zone and will report
additional assays when received. 


Dr. Dirk Meckert, P.Geo is the qualified person who reviewed and approved the
contents of this news release. 


Analytical work was carried out by AGAT Laboratories Ltd. in Mississauga,
Ontario. Quality assurance and quality control programs include the use of
analytical blanks, standards, and duplicates in addition to the lab's own
internal quality assurance program. Samples are fire assayed with an ICP-EOS
finish to determine gold values. Samples containing greater than 10 gpt gold are
fire assayed with a gravimetric finish. 


The Company is a junior mining resource exploration company focused on exploring
for and developing economically viable mineral resources. The Company's mineral
properties are located 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

The TSX Venture Exchange has not reviewed and does not accept responsibility for
the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor
its Regulation Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.


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, 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Banks Island Gold Ltd.
Benjamin W. Mossman
604-245-0066
www.banksislandgold.com

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