Bear Lake Gold Appoints Executive Chair and Grants Options
October 19, 2010 - Longueuil, Quebec: The Board of Directors of Bear Lake Gold Ltd. (TSXV: BLG) (the “Company”) is pleased to announce that its Chairman, David Fennell, will assume the role and duties of Executive Chairman of the Company. In addition to the normal duties of Chairman, the Executive Chairman will lead the assessment of potential strategic initiatives to create and enhance value for shareholders. In consultation with François Viens, the Company’s President and CEO, he will ensure that action plans and policies are in place to meet the Company’s objectives.
The Company also announces that, subject to regulatory approval, it has approved the grant of an aggregate of 5,250,000 stock options to directors, officers, employees and consultants of the Company. Of the total, 1,630,000 options are subject to the achievement of certain performance objectives and vest only if the 20-day volume weighted average price of the Company’s common shares on the TSXV is $0.90 per share or above; and 700,000 are subject to the achievement of certain defined performance objectives. The balance of 3,620,000 options vest over a two-year period. The options have a five-year term and are exercisable at a price of $0.30, the closing price of the Company’s stock on October 15, 2010.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
For further information, please contact:
Francois Viens
President and CEO
Tel: 450-677-2172
Fax: 450-677-2601
Website: www.bearlakegold.com
