Banks Island Gold Ltd. announced that it has received assay results from the Yellow Giant Gold Project located near Prince Rupert, BC. Reported results include diamond drilling completed at the Bob Zone. Three diamond drill holes were recently completed at the Bob Zone.

Diamond drilling focused on determining the plunge of the high-grade shoot at Bob. The Company successfully intersected the mineralized vein at a depth of 142m below surface in drill hole BOB-13-32. This drillhole is approximately 60m down dip of the high grade mineralized shoot that comprises the current mineral resource at the Bob Zone.

The Company believes the area around BOB-13-32 will develop into a high grade zone of mineralization similar to the upper Bob Zone. The mineralization in BOB-13-32 is composed of massive sulphides and banded sulphides in quartz. Sections of the mineralized interval are composed of up to approximately 60% chalcopyrite.

Drillhole BOB-13-32 included an intercept of 11.9gpt Au, 118gpt Ag, and 6.8% Cu over 3.6m. The Company is currently exploration diamond drilling at the Tel Zone with the objective of expanding the Tel Zone mineral resource to depth.