Banks Island Gold Ltd. reported an update on progress at the Yellow Giant Gold Property, located on Banks Island, British Columbia. Monthly payable gold produced from May 1, 2014 to June 10, 2014 was 2,001oz gold equivalent and average payable gold produced per day was 49oz gold eq per day. Total gold contained in concentrate from processing of Bob Zone mineralization to June 10, 2014 is 7,145oz gold and 18,559oz silver.

Operation of the DMS Plant and Spiral Concentrator circuits were interrupted starting June 11, 2014 to allow installation of the grinding and flotation processing circuits which are underway and nearing completion. The company estimates that approx. 2,000 tonnes of mineralized material remains in broken inventory at the Bob Zone which will be processed once the grinding and flotation sections are commissioned.

The arithmetic average of assays of mill feed from the Bob Zone to date is 21.0gpt Au and 51gpt Ag. The company estimates a quantity of 6,000 tonnes of DMS fines are currently stockpiled onsite which are composed of material rejected by the Spiral Concentrator. The company has sampled material from its DMS fines stockpiles.

The average of 14 samples, ranged from 7.8gpt Au to 62.9gpt Au with an arithmetic average of 19.9gpt Au and 51gpt Ag.