Big Bear Mining Corp. Signs Agreement with Rubicon Minerals (Amex: RBY) for 100% Interest in Red Lake Gold Property

SCOTTSDALE, Ariz., April 4 /PRNewswire/ -- Big Bear Mining Corp. is pleased to announce that they have entered into an option agreement with well know prospector Perry English (for Rubicon Minerals Corporation Amex: RBY) for a 100% interest in the Skinner and Shabu Lake properties (the "Property") located in the prolific Red Lake Mining Division of Northwestern Ontario, Canada.  As per terms of the agreement Big Bear shall be required to make a total cash payment of $200,000 in order to acquire the 100% interest.  "We are very excited about this property acquisition.  In my opinion the Red Lake area in northwestern Ontario is to Canada what the Carlin Gold Trend is to the United States - the most prolific gold producing region in the entire country," stated Steve Rix, President of Big Bear.

About the Property

The Property comprises 14 mineral claims and covers approximately 6,680 acres and is accessible by road.  The Property has multiple reported gold occurrences  (Ontario Geological Survey Open File Report 5835) as well as multiple documented copper/nickel occurrences (Preliminary Map P973 Shabumeni River - Narrow Lake area).

Previous exploration was hampered by inaccessibility but the construction of an all-season logging road in recent years has alleviated this and enhanced the possibility of discovering new gold and base metal zones.   In addition, follow up work on previous occurrences is now more economically viable.  

Gold occurrences located on this claim group include the Flint Rock Mines Ltd. occurrence (Shabu Lake occurrence), the Leonard Lake occurrences and the Madsen Red Lake Gold Mines occurrences.  Assays from drill holes and surface sampling on these known occurrences range from .01 oz/ton to .85 oz/ton.

The adjoining Bathurst Mine had limited early day production 307.5 oz gold and 92 oz silver (Rogers and Young 1930; Harding 1936; Sinclair et al. 1934, 1938, 1939; Bathurst Mines Ltd., assessment files, Resident Geologist's office Red Lake).  Numerous high grade quartz veins on the Bathurst Mine property have assayed greater that 4 oz/ton.  

An initial work program is currently being formulated to assess the full potential of the Property. 

About the Red Lake Mining District

Since the mid-1960's The Red Lake District has yielded over 30-million ounces of gold worth over USD $20 billion at today's prices and is home to Goldcorp's Red Lake Mine, one of the richest, lowest cost production mines in the world. The Red Lake Mine produces approximately 600,000 ounces worth USD $405 million annually, with over 11 million ounces (USD $7 billion) gold to date.

About Big Bear Mining Corp.:

bigbearmining.com  

Big Bear Mining Corp. is a US based exploration and development company, focusing on the acquisition and development of Gold and other precious commodity projects which demonstrate high probability for near term production. Big Bear is a fully reporting company quoted on the OTCBB under the symbol BGBR.

"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995.

Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Big Bear (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward looking statements.

SOURCE Big Bear Mining Corp.