LONGUEUIL, QUEBEC -- (Marketwire) -- 02/25/13 -- Bear Lake Gold Ltd. (TSX VENTURE: BLG) (the "Company") is pleased to report that it held its annual general and special meeting of shareholders (the "Meeting") on February 22, 2013. All items of business on the agenda were approved by at least 95% of the votes cast.
The Company reports a change in the composition of the board of directors. Mr. Philip Martin did not stand for re-election at the Meeting and Mr. John Wakeford was elected as a new director. John Wakeford is a consulting geologist with more than 30 years' experience in exploration worldwide. At the time of his retirement in January 2012, Mr. Wakeford was the senior vice-president, corporate development of Sabina Gold & Silver Corp., where he continues as a director. Mr. Wakeford also acts as director for other public resource exploration companies.
David Fennell, executive chairman of the board and interim CEO, commented, "On behalf of Bear Lake Gold, we thank Philip Martin for his contributions to the Company over the years and we wish him the very best in his future endeavours. We are pleased to welcome John Wakeford to the board of Bear Lake Gold and we are confident that his wide experience and knowledge will be a great asset to Bear Lake going forward."
At the board meeting following the AGM, the board of directors approved the grant of an option to acquire 400,000 common shares to John Wakeford. Subject to regulatory approval, the incentive stock option will be exercisable at a price of $0.10 for a period of five years and will vest over a two-year period.
About Bear Lake Gold
The Company's Larder Lake gold project located on the Cadillac-Larder Lake Break in north-eastern Ontario is being explored under an option and joint venture agreement with Gold Fields Abitibi Exploration Corporation (a subsidiary of Gold Fields Limited). Additional information about the Company is available on its website at www.bearlakegold.com and on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Executive Chairman and Interim CEO
Bear Lake Gold Ltd.
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