BOZ

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Banks Island Gold Ltd. (TSX VENTURE:BOZ) (the "Company") is pleased to announce
that it has settled on terms to undertake a private placement with Global
Resources Investments Ltd. ("GRIL"). Pursuant to terms, the Company will issue
an aggregate of 8,000,000 common shares at a price of GBP 0.2766 (approx.
CDN$0.52) per common share to raise gross proceeds of GBP 2,212,800 (approx. CDN
$4,160,000).


GRIL has been established to exploit investment opportunities in the junior
mining and natural resources sectors worldwide, with an investment objective to
generate medium and long term capital growth. GRIL intends to re-register as a
public company and be constituted as an investment trust with the name Global
Resources Investment Trust PLC ("GRIT") and seek admission of its ordinary
shares on the main market for the listed securities on the London Stock
Exchange.


In consideration for acquiring the Banks Island shares, GRIT intends to issue
and deliver to Banks Island, 2,213,001 ordinary shares of GRIT at GBP 1.0 per
share (the "GRIT Shares"). Banks Island will then sell the GRIT Shares through
the facilities of the London Stock Exchange to realize the private placement
proceeds.


Closing of the transaction is subject to a number of conditions precedent,
including approval of the TSX Venture Exchange, and GRIT successfully listing on
the London Stock Exchange.


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 and 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, P.Eng.
President and Chief Executive Officer
604-245-0066
www.banksislandgold.com

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

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