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| BGL-TSXV December 3, 2009 BANDERA ANNOUNCES $500,000 PRIVATE PLACEMENT Bandera Gold Ltd. (“Bandera”) announced today a proposed non-brokered private placement of up to of 3,333,333 units of Bandera at a price of $0.15 per unit, for proceeds of up to $500,000. Each unit will consist of one common share and a half warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.25 per share for a period of one year from closing of the private placement. The private placement is subject to regulatory approval including the approval of the TSX Venture Exchange. Finder’s fees will be paid on the private placement in accordance with the policies of the TSX Venture Exchange and applicable securities laws. The net proceeds of the private placement will be used for exploration of Bandera’s Belmira Gold-Silver Project in Colombia, South America and general working capital. 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 Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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. |
