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Buccaneer Gold Announces Assay Results And Updates Its Exploration Program At The Muoso And Banso Concessions, Kibi Gold Project

The samples were analyzed by Fire Assay at Intertek Laboratory, in Tarkwa, Western Ghana.  Buccaneer Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of drill core.

This first phase of exploration drilling demonstrated the presence of multi-style mineralization in the Banso and Muoso Concessions, including the structurally controlled lode gold deposit, typical for the Kibi Gold Belt.

Exploration Program Update

Soil Geochemistry

Gold soil geochemical surveys were undertaken on selected areas.

A total of 2,746 soil samples have been taken to date (1,866 samples from the Muoso Concession and 880 samples from the Banso Concession).

The spacing between samples was 25 m, along the sampling lines.  The interval between lines was 100 m on the Muoso Concession. The interval between lines in the Banso Concession was 200 m, in order to cover larger zones. A total of 46 km of lines were cut and marked on the soil sampling grids.

Trenching

Trenches were dug at four different areas in Muoso East and Banso South, to confirm soil anomalies and the orientation of the veins before drilling was commenced. Chip samples were taken at the wall bottom of the trench.  Sample length was 2 m, or adjusted to the thickness of specific veins. A total of 330 m of trenches were made and 169 samples were taken.

Current Exploration Program

Buccaneer's current exploration program consists of compilation and interpretation of available data and ongoing field work, including geological mapping, soil geochemistry, trenching and ground magnetic survey. This program is designed to define the next drilling program that will include follow-up drilling on the known mineralization and testing of new selected exploration drill targets.

Qualified Person

Guy Della Valle, Ph.D., P.Geo (Temp.), Vice President, Exploration for Buccaneer Gold Corp. is acting as the Qualified Person in compliance with National Instrument 43-101 ("NI 43-101") with respect to this announcement. He has prepared and/or supervised the preparation of the technical data mentioned in this news release and confirms compliance with NI 43-101. Dr. Della Valle is a member in good standing of the Association of Professional Geoscientists of Ontario (APGO).

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