Bear Lake Gold Announces Drilling Results at Larder Lake

Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) is pleased to announce
results of nine additional drill holes at its Larder Lake gold project located
on the prolific Cadillac-Larder Lake Break in the mining district of
Northeastern Ontario. Most holes intersected various gold values and confirmed
the presence of the mineralized corridor at Bear Lake and Cheminis. 


Drilling at Larder Lake tested the extension of the resources of the Cheminis
and Bear Lake zones. Six holes totaling 4,036 m were completed at Cheminis and
three holes totaling 1,784 m were completed on the Bear Lake zone. Most holes
tested the extension of the D and NCB zones, two of the largest mineralized
zones at Cheminis, and the carbonate and flow zones at Bear Lake. Results from
six other holes are still pending.




     Larder Lake Cheminis & Bear Lake zones - Drill Results               
                                                                          
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 Hole  Sector    Zone          From          To        Length        Grade
                                (m)         (m)        (m)(i)   (g/t gold)
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 91W  Cheminis   NSA                                                      
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 93W2 Cheminis    SS         540.75      542.21          1.46         1.17
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                  D           551.5       558.1           6.6         1.38
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               New Zone      562.62      564.84          2.22         1.23
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 95AW Cheminis   NSA                                                      
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 96W  Cheminis    SS          670.5       673.5           3.0         1.54
 -------------------------------------------------------------------------
                  D           682.5         684           1.5         3.00
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 97  Bear Lake   NSA                                                      
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 98  Bear Lake   Sed.           492       493.2           1.2         2.68
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 99W  Cheminis    D           498.5       499.5           1.0         1.55
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 100 Bear Lake   Flow          34.0        35.0           1.0         1.69
 -------------------------------------------------------------------------
                              271.7       274.4           2.7         2.65
 -------------------------------------------------------------------------
              including       271.7         273           1.3         4.55
 -------------------------------------------------------------------------
                 Flow         305.2         312           6.8         1.11
 -------------------------------------------------------------------------
              including       305.2       306.5           1.3         3.38
 -------------------------------------------------------------------------
 105  Cheminis   NSA                                                      
 -------------------------------------------------------------------------
 (i) Information available to date does not allow estimation of true width
 Hole 101 to 104 - assays pending                                         
 NSA = No Significant assay                                               



The holes are located outside the limits of the resource estimation model and
most holes intersected lower grade mineralization. However, the grades obtained
may potentially indicate the presence of lower-grade mineralized horizons
intercalated within higher-grade lenses and additional drilling will be required
to investigate the presence of higher-grade lenses. Figures 1 & 2 show the
recent drill holes locations compared to the grade distribution of the gold
resources.


Gold Fields Option and Joint Venture Agreement - Update

In April, 2012, the Company and Gold Fields Abitibi Corporation signed an Option
and Joint Venture agreement entitling Gold Fields to acquire 60% of the Larder
Lake gold project by spending $40 million over 5 years (see press release dated
April 10th, 2012). The Company has obtained the TSX Venture Exchange approval
for the transaction. The transaction is subject to Gold Fields completing due
diligence enquiries by May 21, 2012. 


QA/QC

The Company has implemented a rigorous QA/QC program independently set up and
supervised by P&E Mining Consultants Inc., an independent geological and mining
consulting firm of Brampton Ontario. The program includes chain of custody of
samples, drill core sawn in half and shipped in sealed bags to Laboratoire
Expert, a certified assay laboratory located in Rouyn Noranda, Quebec. Blank
samples, blind duplicates and certified standards are also inserted in the
sample stream. Samples with gold values higher than 10g Au/t are systematically
re-analyzed, and samples containing visible gold are also analyzed
systematically with the metallic screen analysis. 


Qualified Person

The technical disclosure contained in this press release was approved by
Francois Viens, President and CEO of the Company. Mr. Viens, P. Eng. is a
'qualified person' within the meaning of that term under NI 43-101. 


Forward-Looking Information 

This news release contains certain "forward-looking information" under Canadian
securities laws. All statements that address future plans, activities, events or
developments that the Company believes, expects or anticipates will or may occur
are forward-looking information. Specifically, this news release contains
forward looking information about the drilling results, interpretation of these
results as well as the potential expansion of the Bear Lake and Cheminis mineral
resources, and future work program at Larder Lake. Forward looking information
is based upon assumptions by management that are subject to known and unknown
risks and uncertainties beyond the Company's control, including risks related to
mining exploration and the availability of financing for companies such as the
Company. There can be no assurance that outcomes anticipated in the forward
looking information will occur, and actual results may differ materially for a
variety of reasons. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking information, except as may be
required by law.


About Bear Lake Gold

Bear Lake Gold Ltd. is focused on the exploration and development of the Larder
Lake gold project in Ontario, Canada. 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, www.bearlakegold.com and on SEDAR at
www.sedar.ca.


FIGURE 1: CHEMINIS PROJECT D ZONE LONGITUDINAL SECTION & FIGURE 2: BEAR LAKE
PROJECT FLOW ZONE LONGITUDINAL SECTION are available at the following link:
http://media3.marketwire.com/docs/blg_maps.pdf