Banks Island Gold Ltd. reported that it has been issued a Mines Act Permit for Yellow Giant Gold Property, located on Banks Island, British Columbia. The British Columbia Ministry of Energy and Mines has approved the company's mine plan and reclamation program allowing commercial production at the Yellow Giant Project. Mine Permit M-241 allows the construction of a 200tpd grinding and flotation plant, an underground mine at the Tel Zone, and associated facilities including rock stockpiles and other infrastructure.

The company anticipates approval of its British Columbia Mining Lease and Environmental Management Act Permits in the near future. Mr. Benjamin Mossman P.Eng, CEO of Banks Island Gold is the qualified person who reviewed and approved the contents of this news release.