December 17, 2012

BRALORNE HIGH GRADE DRILL INTERCEPT CONFIRMED AT 409.5 G/T GOLD OVER 1.2 METRES AND SECOND VEIN AT 11.8 G/T GOLD OVER 1.9 METRES IN HOLE UB12-015

Bralorne Gold Mines Ltd. (the "Company") provide the following update of drilling results at the Bralorne mine operation located near Gold Bridge, British Columbia, where the Company is exploring and building a new gold mining operation.

The high grade assay previously announced drill for hole UB12-015 (News Release: October 1, 2012) was confirmed by a second assay as 409.5 grams gold per tonne (uncut) over a 2.1 metre core interval (11.94 ounce gold per ton over 7.0 feet). Geochemical results for silver in this intercept are also high at 525.5 grams per tonne. This intercept is a quartz vein containing visible gold that is situated close to the new mine workings in the BK-3 area. The 3900 West sub level has now been driven west past this intercept along the mineralized BK vein and assay results are pending.

Another gold-bearing quartz vein intersected in the same drill hole returned 25.0 grams gold per tonne (uncut) over a 0.6 metre core interval (0.729 ounce gold per ton over 2.0 feet). Together with adjacent mineralized rock, the weight average assay is 11.8 grams gold per tonne (uncut) over a 1.9 metre core interval (0.347 ounce gold per ton over 6.4 feet). This intercept is an unexpected structure parallel and south of the BK-3 zone. Follow-up exploration drilling is planned.

Surface drilling commenced in the Bralorne-Pioneer gap area on September 3, 2012 after the permit was received. Two holes were completed and one hole was abandoned, for a total of 618.4 metres drilled. Two new gold bearing structures were identified and a significant intercept was obtained on the 77 vein. Significant assay results received to date are also provided in the table below. The results are very encouraging, particularly since the 77 vein was the most productive vein in the historic mine but was not explored much between the historic Bralorne and Pioneer properties. Additional drilling is planned in this area for next year.

Significant diamond drill intercepts received to date as listed in the table below:

          Core True Core        
      From To Interval Width Interval Au Au    
Hole Az. Inc. (m) (m) (m) (m) (ft) (g/T) (oz/ton) Gold Target
                       
UB12-001 349 -31 43.9 44.0 0.2 0.2 0.6 8.78 0.256   New Find
UB12-001 349 -31 76.4 76.7 0.3 0.2 0.9 63.60 1.855 VG BKN split
UB12-003 349 -12 55.9 56.2 0.3 0.3 1.1 114.00 3.325 VG BKN
UB12-003 349 -12 61.1 61.5 0.5 0.4 1.5 12.60 0.367   BKN HW
UB12-005 334 -7 69.2 70.9 1.7 1.3 5.6 4.10 0.120 BKN
UB12-006 336 -22 79.8 80.2 0.3 0.3 1.1 3.73 0.109   BKN
UB12-012 334 +77 9.9 10.4 0.5 0.2 1.6 9.30 0.271   New Find
UB12-013 14.2 +38 112.2 113.4 1.2 1.0 4.0 6.88 0.201   BK
UB12-014 9 +61 103.6 104.1 0.4 0.2 1.4 6.88 0.201   BK FW
UB12-015 335 +59 88.4 89.0 0.6 0.3 2.0 25.00 0.729 VG New Find
UB12-015 335 +59 89.0 90.3 1.3 0.7 4.4 5.93 0.173    
UB12-015 335 +59 163.7 165.8 2.1 1.2 7.0 409.51 11.944 VG BK
SB12-002 175 -49 224.5 224.7 0.1 0.1 0.4 6.70 0.195   New Find
SB12-002 175 -49 246.7 246.9 0.2 0.2 0.6 47.90 1.397 VG New Find
SB12-002 175 -49 303.1 303.4 0.3 0.3 1.0 22.00 0.642   77 vein


Abbreviations: VG = visible gold, QV=quartz vein, QSTZ=quartz veinlet zone, ALT = altered zone
Au = gold, oz/ton = ounce per ton, Az=azimuth, Inc=inclination, HW = hanging wall, FW = foot wall, BK = BK vein, BKN = BK North vein

Cautionary Note: The company considers all intercepts assaying 0.1 oz/ton Au or greater as significant, but cautions that these intercept data are preliminary in nature and not conclusive evidence of the likelihood of the occurrence of an economic mineral deposit.

Thorough QA/QC protocols are followed on the project by monitoring the results of blank and standard samples inserted at a frequency of 1 in 20 each and re-analysis of check samples at a second laboratory. Drill core samples are submitted for preparation and analysis directly to either ALS Laboratory Group in North Vancouver or SGS Laboratory in Vancouver, both of which are ISO certified and accredited. Analysis is conducted on 1 assay-ton aliquots using the fire assay method with a gravimetric finish. Metallic sieve assays are done on all mineralized quartz vein samples. The project is under the technical supervision of Dr. Matt Ball, P.Geo., President and Chief operating Officer of the company and qualified person ("QP") as defined by National Instrument 43-101, who has reviewed the technical content of this release.

The Company has filed its recent Preliminary Economic Assessment report which now is available at: www.sedar.com




ON BEHALF OF THE BOARD
"William Kocken"
__________________________________________
William Kocken, Chief Executive Officer