Bear Lake Gold fka BLG

[mhlld]

Bear Lake Gold Announces Initial NI 43-101 Mineral Resource Estimate of the Bear Lake Zone

LONGUEUIL, QUEBEC--(Marketwire - June 29, 2011) - Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG - News) is pleased to announce the results of an initial mineral resource estimate and an update on the drilling program at the Bear Lake zone of its Larder Lake Project located on the prolific Cadillac-Larder Lake Break in the mining district of North-Eastern Ontario.

The Bear Lake zone resource estimate prepared by P&E Mining Consultants Inc. of Brampton Ontario, an independent geological and mining consulting firm, stands at 3,750,000 tonnes grading 5.67 g/t gold in the Inferred category for a total of 683,600 ounces of gold. The zone remains open on strike and at depth.

Bear Lake Zone - NI 43-101 Mineral Resource Estimate

Following the completion of a 14,074m drilling program on the Bear Lake zone in 2011, the Company contracted P&E Mining Consultants Inc. ("P&E") of Brampton Ontario to complete a NI 43-101 compliant mineral resource estimate on the Bear Lake zone. P&E used the 88 surface drill holes available and conducted a re-sampling program in order to confirm the validity of the data. Assays used in the resource estimate were capped at 75.0 g/t gold and grades were estimated using the inverse distance cubed method. The resource model domains covered a 400m strike length to a depth of 1.3km from surface.

Inferred resources estimated by P&E are: 3,750,000 tonnes at 5.67 g/t gold for 683,600 ounces of gold. (1,2,3,4) Resources are reported using a 2.5 g/t gold cutoff and a minimal horizontal thickness of 2.0 m.

The Bear Lake mineralized zone is located approximately 2 km east of the Cheminis zone where a recent mineral resource estimate outlined Indicated resources of 335,000 tonnes at 4.07 g/t gold for 43,800 ounces of gold and Inferred resources of 1,391,000 tonnes at 5.22 g/t gold for 233,400 ounces of gold (see news release of April 13, 2011).

Both zones remain open on strike and at depth and additional exploration is required to assess the additional potential of both zones. In addition other targets remain unexplored, including the Fernland zone where hole #13, completed in November 2007, intersected 13.1 g/t gold over 6.0m near surface. This exploration potential combined with the growth potential of the Bear Lake and the Cheminis resources enhance the significance of the Larder Lake project located in a mining area that benefits from all the infrastructures readily available at close proximity.

Bear Lake zone - Drilling update

The last two holes were completed in May 2011 and hole 87A intersected 3.7 g/t gold over 1.0 m in the flow mineralization between 927.6 and 928.6. Hole 88 was abandoned due to technical problems. A complete results table is available on the Company's website. The diamond drilling program is now completed and drills have been demobilized from site. The Company will review different options for the continuation of the exploration program at Larder Lake and announce its plans shortly.

http://finance.yahoo.com/news/Bear-Lake-Gold-Announces-ccn-3588299856.html?x=0&.v=1