Banks Island Gold Ltd. Appoints Wolf Nickel as Chairman of the Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 30, 2013) - Banks Island Gold Ltd. (the "Company") (TSX VENTURE:BOZ) announces that Mr. Wolf Nickel, P.Eng, has been appointed as the Chairman of the Board of Directors of the Company.

Mr. Nickel is recently retired from a distinguished career with Teck Resources Ltd. and ComInco Ltd. spanning a total of 35 years. In his most recent position Mr. Nickel served as President and General Manager of Highland Valley Copper, Canada's largest open pit copper mine, from 2001 to 2009. Mr. Nickel's previous positions at Teck Resources Ltd. included General Manager Project Development and Base Metal Operations for Teck Cominco, General Manager Elkview Coal Corporation and Mine Manager Afton Operating Corporation. Mr. Nickel currently serves as a Director of Candente Copper Corp.

Mr. Mossman, President and CEO of the Company stated, "We are excited about Wolf taking a leadership role on the board of directors as our Company transitions into a new phase of development. Banks Island Gold will benefit greatly from Wolf's knowledge, stature, and experience from a 35 year career in the mining industry."

The Company announces that it has granted 1,060,000 incentive stock options to directors, officers, consultants, and employees of the Company. The options, which are subject to the terms and conditions of the Company's stock option plan, may be exercised at a price of $0.58 per share for a term of 5 years.

The Company is a junior mining resource exploration company focused on exploring for and developing economically viable mineral resources. The Company's principal mineral properties are located in British Columbia. For more information, please refer to the Company's website at www.banksislandgold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Benjamin W. Mossman, P.Eng, President, Director, & Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.