Cautionary Notes


FORWARD LOOKING INFORMATION ("FLI")

This website includes certain statements that may be deemed "forward-looking statements" or "forward-looking information". Forward-looking statements relate to future events or future performance and reflect Bison Gold Resources management's expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, permitting and approval timelines, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. These forward-looking statements are made as of the date of this document and Bison Gold Resources does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include changes in metals prices, changes in the availability of funding for mine development, unanticipated changes in key management personnel, risks related to possible variations in ore reserves, grade or recovery rates, accidents, labor disputes and other risks inherent to the mining industry, delays in obtaining governmental approvals or financing or both, changes to the costs and technical design associated with the completion of underground mine development or construction of processing facilities, and general economic conditions, as well as those factors detailed from time to time in Bison Gold Resources financial statements and management's discussion and analysis of those statements, all of which are filed and available for review at www.sedar.com. While Bison Gold Resources has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, mining is an inherently risky business and there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly investors should not place undue reliance on forward-looking statements.. For more information on the Company and the risks and challenges of its business, investors should review the Company's financial statements, Annual Information Form, the Study and other disclosure available on the Company's website www.bisongold.com and on www.sedar.com and investors should review the Company's annual filing on Form 20F with the United States Securities Commission.

Bison Gold Resources provides the following specific risk disclosure so investors are aware of the risks associated with certain statements contained in this website which may be deemed "forward looking statements", or "forward looking information", referenced to the section of this website which provides the information or statement. The below specific risk disclosure is in addition to the risk disclosure set out above. Investors are cautioned to read the below risk related information together with the above statements and Bison Gold Resources other risk disclosures

Specific risks associated with this FLI include: (i) the risk that gold prices may rise or fall in the future, which would improve or degrade this type of FLI; the risk that macro-economic conditions change to adjust the risk-free return on capital, thus affecting the discount rate used in these cash flow projections - a rise in the discount rate would reduce the present value of the project; (ii) the risk that capital and labor costs may rise or fall in the future, thus degrading or improving the project economics; (iii) tax structures and taxation rates may change in the future to the detriment or benefit of the project economics; (iv) the risk that equity, debt and corporate markets are not sufficiently robust to allow the project to be financed; (v) risks related to gold recoveries and the availability of off-site gold from concentrate recovery facilities, the lack of which would cause an increase in capital costs and a likely delay to obtaining permits; (vi) delays in obtaining governmental approvals; (vii)risks related to possible variations in ore reserves, grade or recovery rates; (viii) availability of key personnel to provide services which while currently good, may become difficult, potentially leading to delays in obtaining permits and conducting operations; (ix) accidents, labor disputes and other risks inherent to the mining industry; (x) inflation, which could affect cost estimates and negatively affect project economics; (xi)delays in obtaining financing to commence mining operations, all of which may affect the attainment of these FLI. The Company has assessed these risks using among other things Monte Carlo simulations which indicate these likelihood that these risks are realized and preclude the FLI from coming to fruition is limited. This type of FLI, economic summary data, is affected by most of the risks associated with the project because it is bottom line economic results type information.

"Discover Manitoba's Next Major Gold Deposit": Specific risks associated with these statements include: delays in obtaining governmental approvals; determinations by government agencies adverse to Bison Gold Resources interests; application of more stringent requirements by governmental agencies than that expected by the current fast track process applied to previously mined properties, changes in law and regulations, in particular environmental regulations, and availability of key personnel to provide services, which, while currently good, may expand or contract; all of which may affect the attainment of this FLI. 

"Bison Gold Corp Presentation Summary Slide" and similar information concerning the potential to expand the project: Specific risks associated with this disclosure: geologic risk inherent in the discovery and quantification of mineral resources - additional drilling may provide information that reduces or enhances the economic prospect of current Inferred Resources; which may affect the attainment of this FLI.

CAUTIONARY NOTE REGARDING RESOURCE ESTIMATES

The Resource and Reserve estimates included in this website are estimates and no assurances can be given that the indicated level of gold production will be achieved. Such estimates are expressions of judgment based on knowledge, mining experience, analysis of drilling and sampling results and industry practices. Valid estimates made at any given time may significantly change when new information becomes available, and reserve estimates established at any given time may, as a result of macro-economic or other factors, cease to be valid in the future. While the Company believes that the resource and reserve estimates included in this website are accurate, by their nature resource and reserve estimates are imprecise and depend to a certain extent upon statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or are reduced in the future, this could have a material adverse impact on the Company, and adversely affect the results of the Study. Investors are cautioned not to assume that any part or all of the mineral deposit will ever be extracted or processed at a profit.

US Investors are cautioned that the reserve estimates disclosed in this website have been calculated pursuant to Canadian standards, and may not be considered "reserves" by the U.S. Securities and Exchange Commission.

CAUTIONARY NOTE CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED MINERAL RESOURCES

This website uses the terms "Measured and Indicated Mineral Resources". Bison Gold Resources advises US investors that while those terms are recognized and required by Canadian regulators, the U.S. Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.

This website also uses the term "Inferred Mineral Resources". Bison Gold Resources advises US investors that while this term is recognized and required by Canadian regulators, the U.S. Securities and Exchange Commission does not recognize it. "Inferred Mineral Resources" have a great deal of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that part or all of an Inferred Resource exists, or is economically or legally mineable.

 






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