Blue Gold Mining Inc. Announces $20,000,000 Best Efforts Offering of Units

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Blue Gold Mining Inc. (TSX VENTURE:BGX) (the "Corporation") announces that the
Corporation has entered into an agreement with a syndicate of Agents led by
Cormark Securities Inc. and including Axemen Resource Capital Ltd., PI Financial
Corp. and Canaccord Genuity Inc. (the "Agents") to offer for sale (the
"Offering"), on a best efforts agency basis, up to $20,000,000 of units (the
"Units") of the Corporation at a price of $1.00 per Unit (the "Offering Price").
Each Unit will consist of one common share in the capital of the Corporation (a
"Common Share") and one-half of one warrant (a "Warrant"). Each whole Warrant
will entitle the holder to acquire one Common Share at a price of $1.50 for a
period of two years following the closing date. 


The Corporation will pay the Agents a cash commission equal to 6.0% of the gross
proceeds of the offering. Closing of the offering is anticipated to occur on or
before October 6, 2011 and is subject to receipt of applicable regulatory
approvals including approval of the TSX Venture Exchange. 


The Corporation has also granted to the Agents the option to sell up to an
additional $5,000,000 of Units, exercisable until the date which is two days
prior to the closing date. 


The net proceeds of the financing will be used for potential future acquisitions
and for general corporate purposes. 


Blue Gold Mining Inc. 

Mark O'Dea, Director