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| BGL-TSXV July 13, 2007 BANDERA CLOSES FIRST TRANCHE OF FINANCING Bandera Gold Ltd. (?Bandera?) announced today that it has closed the first tranche of its non brokered private placement of up to 4,000,000 units at $1.00 per unit. The first tranche consisted of 2,484,000 units for proceeds of $2,484,000. Each unit consists of one common share and a half-warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $1.25 per share on or before July 13, 2008. The securities issued pursuant to the closing of the first tranche have a hold period expiring November 14, 2007. Finder?s fees of $138,920 are to be paid on the closing of the first tranche of the private placement. Bandera also announced today that it is extending the date for the closing of additional tranches of the private placement. On Behalf of the Board Kelvin Williams President and CEO For further information please contact: Kelvin Williams, President and CEO (780) 465-4129 Web: www.banderagold.com Or Micro Cap et al, Investor Relations at: (877) 642-7622 E mail: info@microcapetal.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Information provided herein contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Bandera at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Bandera that actual results achieved will be the same in whole or in part as those indicated in the forward-looking statements. |
