BCGold Corp. Announces Cdn $500,000 Non-Brokered Private Placement

VANCOUVER, July 10, 2012 - BCGold Corp. (or the "Company") (TSX VENTURE:BCG) announces a non-brokered private placement of up to $500,000 through the issuance of 10,000,000 Units at a price of $0.05 per Unit. Each "Unit" will comprise one common share and one-half of a common share purchase warrant (a "Warrant"). Each Warrant is exercisable to purchase one BCGold Corp. common share at a price of $0.10 per share for a period of two years 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 $0.20 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 the Warrant holders and the expiry date of the Warrants will be 30 days from the date of Notice.

The 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 for continued scoping studies on the Engineer Mine project, administration expenses and general working capital. The Company intends to conduct exploration programs budgeted at $750,000 in 2012, primarily on the Engineer Mine, Off-White and South Quesnel properties. These programs will be principally funded by current unspent funds received from the issuance of Flow Through Shares in 2011.


About BCGold Corp.

BCGold Corp. (TSX VENTURE:BCG) is focused primarily on gold exploration and development in under-explored historic and emerging mining districts in British Columbia and Yukon. BCGold Corp. acquires and develops conceptual, early and mid-stage exploration opportunities and advances them towards resource development. Currently, institutional investors hold 21% of the Company's outstanding shares and Kinross Gold Corporation holds 5%.

BCGold Corp. is unique in that it not only exposes investors to the prospect of discoveries, but is also positioned to offset exploration costs by monetizing / forward selling gold concentrate recovered from on-site processing of bulk sample material at the Company's high-grade gold Engineer Mine property. Efforts to engage a suitable partner and terms for the forward sale of gravity gold concentrate are on-going.


On behalf of the Board of Directors,

Brian P. Fowler, P. Geo.
President & CEO



Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, but are not limited to, statements with respect to contemplated financings, use of proceeds of financings, reorganizations and exploration, development and production activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals, the completion of reorganizations and the timing and success of future exploration, development and production activities. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of its mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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.

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Contact

BCGold Corp.
Corporate Communications
604-697-2412
bcgir@bcgoldcorp.com
www.bcgoldcorp.com