"The Company is very pleased with these results," states Brian P. Fowler, P.Geo., President and CEO of BCGold Corp. "A number of very important elements were confirmed by the 2012 dewatering program. Firstly, the Company demonstrated the ability to dewater the workings with little difficulty. Secondly, the Company’s historic development records for 6 and 7 Level were verified. Thirdly, our geologists potentially identified a high-grade gold shoot within the Shaft Vein with a minimum 113 m vertical extent. And most importantly, we have confirmed that three important gold shoots within the Engineer Vein persist at depth. Panel assay results are in fact better than BCGold Corp.’s vein channel assay results on 5 Level, which were demonstrated by the 2011 bulk sampling program to underestimate gold mining grades by an average factor of 850%. This large gold grade disparity is directly related to the presence of nuggety, bonanza-grade gold which has been observed on all levels of the Engineer Mine sampled to date. BCGold Corp. will continue to source financing, to continue development and bulk sampling at Engineer Mine, by way of earn-in agreement, royalty agreement or gold concentrate forward sale arrangement."

In 2011 BCGold Corp. delineated the Shaft Vein, which lies approximately 215 m northeast of the Engineer Vein, for over 50 m along strike by surface trenching; this year mapping and sampling of the exposed vein identified eight clusters of roscoelite with coarse visible gold—a mineralogy previously thought to only occur in the Engineer Vein. One of the grab samples assayed returned 15,280 g/t Au (445.7 oz/ton) and BCGold Corp. previously reported a high-grade grab sample of the Shaft Vein, 113 m vertically below on 5 Level, that assayed 860 g/t Au (25.1 oz/ton). The Shaft Vein has never been drill tested and is an excellent exploration target.

BCGold Corp. also received mobile metal ion (MMI) soil sampling assay results from the soil orientation program conducted over portions of the Engineer and Gold Hill properties; results are being compiled and will be reported in due course.

A panel sampling technique was employed to collect samples of vein material for assay analysis due to the high-nugget effect of coarse gold distribution in the Engineer Vein. The vein was divided into one metre sample intervals along strike, and multiple cuts were taken across the vein using a pneumatic chipper. Multiple cuts across the vein create a more representative sample; as opposed to channel samples, which use just a single cut per sample interval. Blanks, standards and duplicates were inserted into the sample stream to monitor laboratory performance.

Panel samples were submitted to Inspectorate Exploration and Mining Services of Richmond, British Columbia, where they were analyzed for gold using a 1,000 gram metallic screen assay and other elements using multi-element inductively coupled plasma (ICP) analysis. High-grade grab samples were analyzed for gold using a one-assay ton fire assay with a gravimetric finish.

Darren O’Brien, P.Geo., Vice President, Exploration for BCGold Corp. and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

BCGold Corp. wishes to announce a non-brokered private placement of up to $750,000 through the issuance of up to 4.7 million Units at a price of $0.16 per Unit. Each “Unit” will comprise one common share and one-half of a common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to purchase one BCGold Corp. common share at a price of $0.22 per share for a period of one year from the date of the close of the financing (the "Closing"). The Warrants are subject to an accelerated expiry date, which comes into effect when the trading price of BCGold Corp. common shares closes at or above $0.30 per share for twenty consecutive trading days in the period commencing four months after the Closing. In such an event the Company will give expiry acceleration notice ("Notice") to Warrant holders and the expiry date of the Warrants will be 30 days from the date of Notice.

This private placement is subject to TSX Venture Exchange approval and all securities are subject to a four-month hold period. It is anticipated that officers and directors of the Company will participate in this offering. Finder’s fees will be payable in connection with the private placement, in accordance with the policies of the TSX Venture Exchange.

Proceeds from this financing will be used to complete in-house scoping studies, continue metallurgical studies, and refine bulk-tonnage gold exploration targets for drill testing in 2013 at the Engineer Mine property, and for general working capital purposes.

BCGold Corp. (TSX-V: BCG) is focused on exploration and development of its 100%-owned historic Engineer Mine and adjoining Gold Hill properties, situated in northwestern British Columbia. Since 2007 the Company has incurred approximately $3.5 million in expenditures to demonstrate the exploration upside and near term mining potential of these properties. BCGold Corp. is unique in that it exposes investors to the prospect of discoveries while being positioned to offset exploration costs by monetizing / forward selling gold concentrate recovered from on-site processing of high-grade gold bulk samples at Engineer Mine.

BCGold Corp. has generated 27 early to mid-stage gold and copper-gold properties in British Columbia and Yukon that it will continue to advance by sourcing preferred joint venture partners.

On behalf of the Board of Directors,

President & CEO

For further information please contact:

Marla Lede

Manager, Corporate Communications

Tel: 604-697-2412

Email: [email protected]