TORONTO, ONTARIO--(Marketwire - April 27, 2011) - Bison Gold Resources Inc. ("Bison Gold" or the "Company") (News - Market indicators) today announced that it has closed the first tranche of its non-brokered private placement originally announced on April 8, 2011. The flow-through portion of the offering was oversubscribed with the Company raising aggregate gross proceeds of $1,576,080+399,840 by issuing 3,502,400 common shares issued on a flow-through basis under the Income Tax Act (Canada), as amended (the "Flow-Through Shares") for gross proceeds of $1,576,080 and issuing 1,142,400 units (the "Units") at a price of $0.35 per Unit for gross proceeds of $399,840.

"We are very pleased with the successful first tranche closing of our 2011 financing. The fact that Bison Gold was able to raise support at a premium to market and at a time when junior explorers have taken a 'breather' across the board is a testament to the companyâ¬xs future potential and to its very loyal shareholders that have supported the companyâ¬xs exploration program", says Amir Mousavi, VP Corporate Development. "We will continue to work towards unlocking shareholder value through strategic development and exploration".

Each Unit consists of one common share and one half of one common share purchase warrant ("Warrant"). Each full Warrant entitles the holder to purchase one common share at a price of $0.50, and has an expiry period of two years. The Warrants may be subject to accelerated expiry in certain circumstances. Proceeds of the non-flow-through private placement financing will be used for general working capital purposes.

All common shares issued will be subject to a four-month and one day hold period from the date of closing. The gross proceeds of the Flow-Through Share financing and the net proceeds of the Unit financing will be used exclusively to fund the Company's ongoing exploration programs in the province of Manitoba.

In connection with the first tranche of the flow-through and non-flow through private placement offerings, the Company will pay finders' fees consisting of $91,708.50.

The private placement offerings are both subject to the final approval of the TSX Venture Exchange.

About Bison Gold

Bison Gold is a Canadian public company listed on the TSX Venture Exchange. Bison Gold is focused on gold, base metal and rare element exploration with property assets in Manitoba, Canada. Bison Gold's land holdings have historically produced in excess of 200,000 ounces of gold. Further details can be found on Bison Gold's website at www.bisongold.com.

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This news release contains forward-looking statements regarding the timing and content of upcoming programs and may be subject to regulatory approval. Actual results may differ materially from those currently anticipated in such statements.