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| BGL-TSXV January 26, 2007 BANDERA GRANTS STOCK OPTIONS Bandera Gold Ltd. (?Bandera?) has granted 3,800,000 stock options with an exercise price of $1.39 per share and an expiry date of January 26, 2012 to directors, officers, consultants and employees of Bandera. On Behalf of the Board Kelvin Williams CEO For further information please contact: Kelvin Williams, CEO (780) 465-4129 THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |


