Banks Island Gold Ltd. Reports Grinding and Flotation Circuits Nearing Completion at Yellow Giant

Banks Island Gold Ltd. (TSX VENTURE:BOZ) (the "Company") is pleased to report an
update on progress at the Yellow Giant Gold Property, located on Banks Island,
British Columbia.


The Company has made significant progress towards completion and commissioning
of the grinding and flotation sections of the mineral process plant. Company
engineers and Halyard Inc. have been responsible for project management to
oversee this work. All major equipment is now in place and company crews are now
completing piping, pumps, and electrical work. The Company plans to begin
commissioning of the grinding and flotation sections in late-July and begin
production of flotation concentrate in early August 2014. 


Design and construction of additional improvements will continue after
commissioning. A gold room is planned to be commissioned in late August for
upgrading gravity recoverable gold into a direct smelting gold product. An
onsite assay laboratory facility is planned to be constructed and commissioned
in September. Design and construction of all facilities are being handled by
Company employees.


GRINDING AND FLOTATION CIRCUITS

The Company continues work towards completion of installation and commissioning
of the grinding and flotation circuits of the process plant. The grinding and
flotation modules are now installed, the thickeners are erected and mechanically
complete, both filter presses have been erected, and the mill feed conveyor has
been erected and commissioned. The diesel gensets, which include primary and
backup power with a combined capacity of 3.2MVA, are installed and are due to be
commissioned and tied into the site power system. The stock tanks and agitators
are to be erected shortly and piping and electrical installations are in
progress and nearing completion. The company plans to commence Cold
Commissioning in the next week to be followed by Hot Commissioning. The running
of ore through the plant is anticipated to start in late July with production of
flotation concentrates expected to commence in early August. 


A photo of the processing plant, as at July 10th 2014, is displayed in Figure 1.

To view 'Figure 1 - Yellow Giant Process Plant - July 1st 2014', please visit
the following link: http://media3.marketwire.com/docs/bank0711.pdf


Mr. Benjamin Mossman P.Eng, CEO of Banks Island Gold is the qualified person who
reviewed and approved the contents of this news release. 


The Company is a mining company focused on gold production, exploration, and
development of economically viable mineral resources. The Company's mineral
property is 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, Director, & 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 Annual
Information Form dated Febraury 22, 2013 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
604-245-0066
www.banksislandgold.com