Bear Lake Gold Ltd. - Home - Tue Mar 9, 2010

UPCOMING CONFERENCES
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Precious Metals Exploration in North America

Bear Lake Gold Ltd. is a precious metals exploration company listed on the TSX Venture Exchange under the symbol "BLG". The Company's primary property is the Larder Lake gold project, located in the Larder Lake mining district of north-eastern Ontario. The Larder Lake property consists of a 100% interest in the Bear Lake, Cheminis, Fernland and Barber Larder properties. The Company also has a 75% interest in the Swansea property and holds 29 additional mining claims near the Cadillac-Larder Lake Break. Since March 2007, over 55,000 meters of drilling has been completed on the Larder Lake property.

In July 2009, the Company learned of material inconsistencies regarding the Company's exploration data that appeared to compromise the Company's prior reporting of exploration results in respect of its Larder Lake property. The Company immediately launched an investigation and retained Scott Wilson Roscoe Postle Associates to lead a technical investigation and prepare a report. Legal counsel was retained and the Board of Directors formed a technical committee to supervise the investigation, review internal technical procedures and make recommendations to the Board of Directors.

Scott Wilson issued its report dated November 2, 2009 which confirmed certain data inconsistencies. The Company issued a news release November 3, 2009, which disclosed the results of the report and includes a table showing the restated intercepts for the Bear Lake area of the Company's Larder Lake Property, with a comparison to the intercepts as originally released. The restated exploration results include a total of 58 intercepts within the Bear Lake area of the Larder Lake property. Click here to link to a table setting out the restated exploration results.

On August 25, 2009 a class action lawsuit was filed on in the Ontario Superior Court of Justice against the Company and certain of its current and former officers and directors, alleging certain misrepresentations were made regarding the Larder Lake project. The Company is vigorously defending itself and its assets.

Exploration activities at the Larder Lake Property were suspended on July 17, 2009, when the data inconsistencies were discovered, and have not yet recommenced.

Bear Lake Gold Ltd. has two other gold exploration projects. The Company has an option with Newmont Mining Company to earn a 75% interest in certain claims at Hope Bay in Nunavut. At October 31, 2009, the Company has spent $5.3 million of a total commitment of $7.25 million to be spent by October 31, 2010 to earn its interest at Hope Bay. The Company also has an option with Unity Gold Silver Mines, Inc. on the Unity project in Idaho, where surface drilling was completed at the end of 2008.

Tue Nov 3, 2009: Bear Lake Gold Provides Update on Larder Lake Property (more...)

Wed Sep 30, 2009: Financial Statements: Financial Statements and Management's Discussion Analysis for the year ended September 30, 2009 (more...)

Thu Aug 27, 2009: Bear Lake Gold reports proposed class action (more...)

Tue Aug 25, 2009: Financial Statements: Third Quarter ended June 30, 2009 - Financial Statements and MD&A (more...)

Fri Jul 24, 2009: Bear Lake Gold Provides Update About Larder Lake Property Operations and Investigation (more...)

Tue Jul 21, 2009: Bear Lake Gold Announces Data Inconsistencies that may Compromise Prior Technical Disclosure related to the Larder Lake Property (more...)

Thu Jun 4, 2009: Bear Lake Gold Annonces Closing Of $2.5 Million Bought Deal Private Placement (more...)

Wed May 27, 2009: Bear Lake Gold Ltd. announces $500,000 increase in Offering to raise up to $2,500,000 (more...)