Bandera Gold Ltd (fka BGL)

[Lone Ranger 2]

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Bandera drills 1.23 m of 3.4% Pb at Taylor Brook

2017-03-29 19:44 ET - News Release

Mr. Peter Gommerud reports

BANDERA REPORTS DRILL RESULTS OF SURFACE DIAMOND DRILL PROGRAM ON THE TAYLOR BROOK PROPERTY

Bandera Gold Ltd. has released drill results from two holes (TBD 16-40 and 41) of an initial diamond drill program at the Taylor Brook lead-zinc-silver property in the Bathurst mining camp, New Brunswick (see press release Feb. 22, 2017).

Both drill holes were designed to test the extension of a mineralized horizon intersected in hole TBD 14-39. This hole (drilled in 2014) intersected two zones, 2.5 metres of massive to semi-massive sulphide returning low-grade lead zinc grading 2.5 per cent combined Pb/Zn and a lower zone returning 4.47 per cent combined Pb/Zn across eight metres.

Hole 16-40 intersected 3.4 per cent lead, 5.53 per cent zinc and 126 grams per tonne silver across 1.23 metres. Both drill holes intersected the same mineralized horizon and extended the known zone approximately 100 metres to the east.

Results for hole TBD 16-40 (azimuth 360 degrees, dip minus 60 degrees) are presented in the attached results for hole TBD 16-40 table. The true widths of these intersections are not known.

RESULTS FOR HOLE TBD 16-40

From To Width Pb Zn Ag Au
metres % % g/t ppb

79.5 81 1.5 0.01 0.01 1 5
81 82 1 0.27 0.58 17 73
82 83.2 1.2 0.19 0.75 12 120
83.2 84.75 1.55 0.09 0.28 7 55
84.75 86.8 2.05 0.12 0.62 6 37
86.8 88.03 1.23 3.4 5.53 126 276
88.03 88.65 0.62 0.07 0.55 4 68
88.65 90 1.35 0.02 0.05 3 59

Results for hole TBD 16-41 (azimuth 360 degrees, dip minus 60 degrees) are presented in the attached results for hole TBD 16-41 table. The true widths of these intersections are not known.

RESULTS FOR HOLE TBD 16-41

From To Width Pb Zn Ag Au
metres % % g/t ppb

101 102.88 1.88 0.01 0.01 0 16
102.88 104.2 1.32 0.33 1.44 10 158
104.2 105.75 1.55 0.21 0.47 7 101
105.75 106.4 0.65 0.54 1.9 20 128
106.4 107.6 1.2 0.02 0.04 1 96
107.6 108.2 0.6 0.05 0.26 2 37

Drill core (NQ) was transported to the Madran facility, owned by the Ministry of Mines near Bathurst, N.B., where it was logged and sampled. Mineralized core was sawn in half, with half of the samples shipped to SGS Analytical Laboratories, an ISO 9001:2000-certified analytical laboratory, located in Blainville, Que. The remaining core was replaced in the core box and is stored for future reference. Core recovery for these hole averaged 98 per cent. All samples underwent testing by standard analytical methods.

Further exploration is warranted, as the deposit has not been delineated laterally to the east or west, nor at depth. The deposit appears to have a nucleus of higher-grade massive sulphides concentrated in the northwest of the deposit that remains untested. This deposit appears to have several mineralized horizons, of which the latest drill program may have only intersected the upper most horizon.

Bruce Downing, MSc, PGeo, qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information disclosed in this press release.

About Bandera Gold Ltd.

Bandera is a Canadian-based junior mineral exploration and development company engaged in the exploration, evaluation and development of the Taylor Brook property, located in the prolithic Bathurst mining camp, New Brunswick, which is host to several lead-zinc-silver deposits.

Bandera will also continue to identify and evaluate additional mineral properties of merit for acquisition.

We seek Safe Harbor.

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