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| BGL-TSXV August 7, 2007 BANDERA INCREASES FINANCING AND CLOSES FINAL TRANCHE Bandera Gold Ltd. (?Bandera?) announced today that it has increased its non brokered private placement to 4,095,500 units at $1.00 per unit. Bandera also announced today the closing of the second and final tranche of the private placement consisting of 1,611,500 units for gross proceeds of $1,611,500. 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 August 7, 2008. Finder?s fees of $99,800, 16,000 units and 79,200 finder?s warrants are to be paid on the closing of the second tranche of the private placement. 32,800 finder?s warrants are to be issued to First Canadian Capital Markets Limited (?FCCM?) to purchase one unit at a price of $1.25 per unit on or before August 7, 2009. Each unit consists of one common share and a half-warrant. Each whole warrant entitles FCCM to purchase one common share at a price of $1.25 per share on or before August 7, 2009. 46,400 finder?s warrants are to be issued to Northern Securities Inc. (?Northern?) to purchase one unit at a price of $1.25 per unit on or before August 7, 2008. Each unit consists of one common share and a half-warrant. Each whole warrant entitles Northern to purchase one common share at a price of $1.25 per share on or before August 7, 2008. The securities issued pursuant to the closing of the second tranche have a hold period expiring December 8, 2007. 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. |
