Bear Lake Announces Gold Fields Begins Drilling at Larder Lake

Bear Lake Gold Ltd. (TSX VENTURE:BLG) (the "Company" or "Bear Lake") is pleased
to announce that Gold Fields has begun an initial phase of drilling at the
Larder Lake Project located in north-eastern Ontario. Following a helicopter Mag
survey over the property, the drilling started with the objective of testing the
Cheminis and Fernland targets. The initial phase consists of approximately
9,000m along the prolific Cadillac-Larder Lake Break. Surface mapping, ground
geophysics and detailed geochemistry over the property has also started and a
second phase drilling program of approximately 9,000m will follow up on newly
generated targets.


As previously announced, Bear Lake has signed an option and joint venture
agreement with Gold Fields Abitibi Exploration Corporation ("Gold Fields") (a
subsidiary of Gold Fields Limited), under which Gold Fields has the option to
earn an interest of up to 60% on a group of claims - including the Company's
100%-held Bear Lake, Cheminis and Fernland target areas and on the 75%-held
Swansea property - by sole funding $40 million in exploration and development
expenditures on the projects. Gold Fields can earn an initial 51% interest by
spending $25 million over a period of 36 months, including a firm commitment of
$5 million during the first 12 months. Gold Fields can earn an additional 9%
interest by spending a further $15 million over a period of 24 months following
the initial term. 


Gold Fields will manage all field work during the option period. A steering
committee including two representatives of each of Bear Lake and Gold Fields was
formed to oversee the exploration work and review the work programs during this
period. If Gold Fields exercises the option, it will be the operator of the
resulting joint venture. 


About Bear Lake Gold

Bear Lake Gold Ltd. is focused on the exploration and development of the Larder
Lake gold project located on the Cadillac-Larder Lake Break in north-eastern
Ontario. In 2011, the Company announced the completion of a NI 43-101 compliant
mineral resource on the Bear Lake and Cheminis properties. The common shares of
the Company trade on the TSX Venture Exchange under the symbol BLG. Additional
information about the Company is available on its website at
www.bearlakegold.com and on SEDAR at www.sedar.ca.


About Gold Fields Limited

Gold Fields is one of the world's largest unhedged producers of gold with
attributable, annualized production of 3.5 million ounces per annum from eight
operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has
an extensive and diverse growth pipeline with both greenfield and near mine
exploration projects at various stages of development. Gold Fields has total
attributable Mineral Reserves of 80.6 million ounces and Mineral Resources of
217 million ounces. Gold Fields has a primary listing on the JSE Limited in
South Africa and secondary listings on the New York Stock Exchange, NASDAQ Dubai
Limited, Euronext and the Swiss Exchange. For more information, visit the
company's website at www.goldfields.co.za.


Cautionary Statement 

This press release contains forward-looking information. In particular, this
press release contains statements concerning the intended work program.
Forward-looking information is subject to known and unknown risks and
uncertainties, and depends on assumptions and other factors, all of which may
cause actual results or events to differ materially from those anticipated in
such forward-looking information. The forward-looking statements contained in
this press release are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.