Home > Junior Mines > Bear Lake Gold Ltd.
Bear Lake Gold Ltd.
Bear Lake Gold Ltd. is a Canadian gold exploration company listed on the TSX Venture Exchange under the symbol "BLG". 
 
Bear Lake Gold's primary project is the Larder Lake gold property, located on the prolific Cadillac-Larder Lake Break in the mining district of north-eastern Ontario. The Larder Lake gold property consists of a 100% interest in the Bear Lake, Cheminis, and Fernland properties. The Company also has a 75% interest in the Swansea property. This portfolio of exploration projects spread out over a distance of approximately 11km provides a large area of interesting targets to explore in one of the world's best mining jurisdictions with excellent infrastructures available at close proximity. 
 
Gold Fields Option 
 
In April 2012, Bear Lake entered into an option and joint venture agreement with Gold Fields Abitibi Exploration Corporation, a 100% subsidiary of Gold Fields Limited. Gold Fields has the option to earn up to a 60% interest in the Company's Bear Lake, Cheminis, Fernland and Swansea properties by spending $40 million on exploration and development on the option properties in two stages:
 
- To earn a 51% interest, Gold Fields must spend $25 million on the option properties over a period of 36 months, including a firm commitment of $5 million during the first 12 months.
 
- Gold Fields may increase its interest to 60% by spending an additional $15 million over the 24 months following the initial 36 months. 
 
- If a development decision in respect of the option properties is made, Bear Lake may elect to finance its share of the development costs through a loan arranged by Gold Fields, for which Gold Fields will receive an additional 5% interest in the option properties against the payment of a nominal strike price, increasing its interest to 65%. If the Company arranges its own development financing, it will retain a 40% interest in the Projects.
 
- Gold Fields is the manager of all exploration during the option period. A committee made up of two representatives of each of Bear Lake and Gold Fields oversees the exploration work and review the work programs. If Gold Fields exercises the option, it will be the operator of the resulting joint venture. 

Bear Lake Gold Ltd.
1111 St-Charles West
West Tower, Suite 101
Longueuil, Quebec
Canada J4K 5G4
Telephone: 450-677-1009
Fax: 450-677-2601
David Fennell
Executive Chairman and Interim CEO

info@bearlakegold.com