Bear Lake Gold fka BLG

[mhlld]

Bear Lake Gold Reports High Grade Drill Results at Larder Lake Hole BLG-10-79 Intersects 12.03 g Au/t Over 3.0 Meters - Third Diamond Drill to Arrive Shortly

LONGUEUIL, QUEBEC--(Marketwire - Nov. 4, 2010) - Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) is pleased to announce additional drill results from the 2010 drill program at its 100% owned Larder Lake project, in Ontario. Hole 79 intersected 6.7 g/t gold over 6.8m including 12.0 g/t gold over 3.0m in carbonate-type mineralization at a depth of approximately 685 meters. The following table highlights the results of the hole. The attached longitudinal sections show the location of the drill holes.

Table – Highlights (1)

Hole From To Core Length Au (g/t) Zone
(2)
BLG-10-79 736.5 738.0 1.5 5.96 Carbonate Zone
747.2 748.5 1.3 13.85 Carbonate Zone
754.5 761.3 6.8 6.73 Carbonate Zone
including 757.0 760.0 3.0 12.03 Carbonate Zone
786.0 790.0 4.0 1.07 Altered Ultramafics

(1) Complete assay results are available on the Company's website.

(2) It is not possible to determine true widths at this time. All widths of intercepts reported are core length.

The high grade intersection in hole 79 within the carbonate zone is located at a depth of 685 meters from surface, and approximately 30 meters down dip of hole 44W2 which intercepted 5.1 g/t Au over 3.5m (see long. section). This intercept confirms the down dip extension of one of the higher grade lenses in the carbonate zone. Two more holes are in progress to test both mineralized horizons at depths between 750m and 900m from surface.

Longitudinal Section Carbonate-type Mineralization: http://www.bearlakegold.com/i/maps/LarderLake_Long_Nov10_Carb.jpg

Longitudinal Section Flow-type Mineralization: http://www.bearlakegold.com/i/maps/LarderLake_Long_Nov10_Flow.jpg

2010 Work Program

Following the completion of a $3.76 million financing, the Company initiated a drilling program at Larder Lake in July 2010. Two drills are currently working on site. A third diamond drill rig is being mobilized to accelerate the pace of the program and should start working shortly. The current program consists of approximately 15,000 meters of diamond drilling focused mostly on the Bear Lake zone. Four (4) holes have been completed so far, totaling 2,800 m of drilling. The campaign mainly targets the upper part of the Bear Lake zone, at depths between 400m and 1,200 m from surface, with the objective of defining and expanding the higher grade mineralized lenses, including both the carbonate and flow-type mineralized horizons. The Company plans to complete a NI43-101 compliant resource estimate as soon as the density of drilling in the Bear Lake zone is sufficient to support resource estimation.

The Larder Lake properties extend over 13km straddling the prolific Cadillac-Larder Lake fault zone, host of the historic Kerr Addison mine (with an estimated 11million ounces of gold produced), which is located some 4km to the east of the Bear Lake Zone. Easily accessible, the project is close to major infrastructures including a paved road and power line.

QA/QC

The Company has implemented a rigorous QA/QC program independently set up and supervised by P&E Mining Consultants Inc. of Brampton, Ontario. The program includes chain of custody of samples, drill core sawn in half and shipped in sealed bags to Laboratoire Expert, a certified assay laboratory located in Rouyn Noranda, Quebec. Blank samples, blind duplicates and certified standards are also inserted in the sample stream. Samples with gold values higher than 10g Au/t are systematically re-analysed, and samples containing visible gold are also analysed systematically with the metallic screen analysis.

Qualified Person

The 2010 work program is directed by Francois Viens, P. Eng., President and CEO of the Company. The technical information contained in this press release was prepared and approved by Francois Viens, President and CEO of the Company. Mr. Viens is a 'qualified person' within the meaning of that term under NI 43-101.

Forward-Looking Information

This news release contains certain "forward-looking information" under Canadian securities laws. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. Specifically, this news release contains forward looking information about the Company's plans for the work program to be carried out at Larder Lake and plans to complete a resource estimate. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company's control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.

About Bear Lake Gold

Bear Lake Gold Ltd. is engaged in the exploration of gold and precious mineral properties in North America. Additional information about the Company is available on the Company's website at www.bearlakegold.com and on SEDAR at www.sedar.com.

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 more information, please contact

Bear Lake Gold Ltd.
Francois Viens
President and CEO
450-677-1009
450-677-2601 (FAX)
[e-mail]

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