Drilling Report

    FOR:  BEMA GOLD CORPORATION

TSX, NYSE SYMBOL:  BGO
AIM SYMBOL:  BAU

September 26, 2006

Bema Gold Corporation: New Licenses Acquired at the Kupol Project Area and Additional High Grade
Results

Returned From the Newly Discovered 650 Zone

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 26, 2006) - Bema Gold Corporation
(TSX:BGO)(NYSE:BGO)(AIM:BAU) is pleased to announce that its 75% owned Russian subsidiary, Chukotka
Mining and Geological Company ("CMGC"), has been awarded two new licenses surrounding, and adjacent
to, the Kupol Project located in far east Russia where Bema is currently developing the Kupol Mine.
With the acquisition of these two licenses, Kupol West and Kupol East, CMGC increases its overall land
position in the Kupol Project area from approximately 17.5 square kilometers to an approximate
combined 425.5 square kilometers. Furthermore, additional high-grade drill results have been received
from the recently discovered 650 zone located south-east of the main Kupol vein.

Kupol West and Kupol East Licenses

The Kupol West and East licenses were awarded to CMGC which is 75% owned by Bema and 25% owned by the
government of Chukotka, through an auction and tender by the Russian Federal Agency for Management of
Mineral Resources (Rosnedra).

The Kupol West license surrounds the original Kupol project area and represents an expansion of the
existing property from approximately 17.5 square kilometers to an approximate 231.5 square kilometers.
The new license area also covers the potential northern and southern extensions of the main Kupol
vein. Previous Russian surface exploration sampling had identified four gold/silver prospects in the
area covered by the license.

The Kupol East license is situated 3.5 kilometers to the east of the Kupol West boundary and covers an
additional area of 194 square kilometers. Previous Russian exploration work has identified two
gold/silver prospects. Bema intends to commence extensive exploration programs on the Kupol West and
East licenses in 2007 consisting of mapping, surface sampling, geophysics, trenching and diamond
drilling. Please refer to Bema's website (www.bema.com) for a map outlining the location of the two
new licenses.

650 Zone Drill Results

An additional 17 holes, totaling 4,672.2 metres, have been drilled on the 650 zone since its
discovery. The 650 zone has now been traced through drilling over a strike length of 775 metres and
down dip for approximately 200 metres. Continuous high grade mineralization has been traced over 625
metres and appears to occur principally within a 100 to 125 metres elevation range, starting
approximately 75 to 100 metres below surface. The zone remains open along strike to the north and
south. Several parallel to sub-parallel veins are present in the 650 zone, with dips ranging from 70
degrees to vertical.

Significant new high grade intersections include 8.40 metres grading 24.06 grams per tonne ("g/t")
gold and 453.01 g/t silver in hole KP06-703, 4.80 metres grading 40.81 g/t gold and 375.50 g/t silver
in hole KP06-709, and 7.80 metres grading 20.02 g/t gold and 1,539.72 g/t silver in hole KP06-712.
Drilling is ongoing with two rigs continuing to work on the 650 zone and the adjacent South East
Breccia zone to test the limits of these zones and provide limited infill drilling, so that an initial
resource estimate can be calculated. For detailed information on the 650 and South East Breccia zones
and previous drill results, please refer to the Bema press release dated August 14, 2006. Significant
results from the new holes are presented in the table below:

/T/

--------------------------------------------------------------
Hole #             From       To   Length(i)   Gold     Silver
--------------------------------------------------------------
                     (m)      (m)        (m)   (g/t)      (g/t)
--------------------------------------------------------------

--------------------------------------------------------------
KP06-697         215.80   216.80       1.00   11.06     110.00
--------------------------------------------------------------
          And    237.20   239.30       2.10   10.83      18.80
--------------------------------------------------------------
KP06-700         218.80   222.30       3.50   25.42     353.80
--------------------------------------------------------------
          Incl.  220.40   221.40       1.00   78.28   1,194.90
--------------------------------------------------------------
KP06-703         184.50   192.90       8.40   24.06     453.01
--------------------------------------------------------------
          Incl.  184.50   185.50       1.00   85.40   2,162.50
--------------------------------------------------------------
          Incl.  187.50   189.50       2.00   13.39      30.60
--------------------------------------------------------------
          Incl.  190.50   192.40       1.90   37.48     631.60
--------------------------------------------------------------
KP06-704         184.90   194.20       9.30   10.54     203.34
--------------------------------------------------------------
          Incl.  191.30   194.20       2.90   16.68     206.01
--------------------------------------------------------------
          And    196.10   198.00       1.90  137.46     938.92
--------------------------------------------------------------
          And    201.00   201.70       0.70   12.66      63.26
--------------------------------------------------------------
KP06-705         204.10   214.60      10.50    4.95      25.27
--------------------------------------------------------------
          Incl.  212.00   213.00       1.00   10.02      40.86
--------------------------------------------------------------
          And    215.50   217.80       2.30   10.38      18.71
--------------------------------------------------------------
KP06-706          97.70   101.00       3.30   10.75     135.44
--------------------------------------------------------------
          Incl.  100.00   101.00       1.00   18.84      78.42
--------------------------------------------------------------
KP06-708         112.00   115.40       3.40   13.99     334.73
--------------------------------------------------------------
          Incl.  113.00   114.60       1.60   23.81     667.77
--------------------------------------------------------------
          And    117.00   118.40       1.40    8.79     161.45
--------------------------------------------------------------
KP06-709         238.50   243.30       4.80   40.81     375.50
--------------------------------------------------------------
          Incl.  238.50   242.00       3.50   53.43     460.40
--------------------------------------------------------------
KP06-712         205.10   212.90       7.80   20.02   1,539.72
--------------------------------------------------------------
          Incl.  205.10   209.75       4.65   24.98   1,691.89
--------------------------------------------------------------
          Incl.  210.85   212.90       2.05   16.06   1,859.93
--------------------------------------------------------------
          And    215.90   222.00       6.10    6.86     111.43
--------------------------------------------------------------
KP06-713         144.40   147.20       2.80    8.82     120.10
--------------------------------------------------------------
          Incl.  144.40   145.00       0.60   21.06     268.42
--------------------------------------------------------------
(i) True widths cannot be estimated until additional detailed drilling
    is complete.

/T/

Development and construction of the Kupol Mine continues to progress on schedule. The state of the art
600 man camp was recently commissioned and the main structure of the mill building as well as the
airstrip are almost complete. Both open pit and underground mine development is progressing well and
the procurement and shipping of materials for the 2007 program is underway. The Kupol Mine is on
schedule to begin production in mid 2008.

All results contained in this news release have been validated by a Quality Control Program ("QC"),
which has been designed in concert with an independent consultant to meet or exceed the requirements
of NI 43-101. This QC program includes the use of certified standard reference samples, coarse field
blank material and duplicate sampling as described at length in earlier news releases and in the
technical reports for the Kupol project dated April 4, 2005 and July 5, 2005. Tom Garagan, Vice
President of Exploration for Bema Gold Corporation, is the Qualified Person for this exploration
project.

On Behalf Of Bema Gold Corporation

Clive Johnson, Chairman, CEO, President

Some of the statements contained in this release are "forward-looking statements" within the meaning
of Canadian Securities law requirements and Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors that may
cause our actual results, performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such forward-looking statements. Forward-
looking statements in this release include statements regarding: the Company's projections regarding
mineral resource and reserve estimates in future periods. Factors that could cause actual results to
differ materially from anticipated results include risks and uncertainties such as: risks relating to
estimates of reserves, mineral deposits and production costs; mining and development risks; the risk
of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating
permits and other risks and uncertainties detailed in the Company's Form 40-F Annual Report for the
year ended December 31, 2005, which has been filed with the Securities and Exchange Commission, and
the Company's Annual Information Form for the year ended December 31, 2005, which is available under
the Company's name at www.sedar.com. The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new information, future events or
otherwise.



-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Bema Gold Corporation
Ian MacLean
Vice President, Investor Relations
[phone]

OR

Bema Gold Corporation
Kerry Suffolk
Manager, Investor Relations
[phone]
[e-mail]
www.bema.com

								
Bema Gold Corporation