NFX

Bear Lake Gold Ltd. (the "Company" or "Bear Lake") (TSX VENTURE:BLG) is pleased
to announce that it has proceeded with its previously announced consolidation of
the common shares of the Company. The consolidation was approved at the special
meeting of the shareholders of the Company held on September 11, 2008. The
consolidation results in each shareholder of the Company receiving one
post-consolidation share for every two pre-consolidation common shares held.
Prior to the completion of the consolidation the Company had 127,966,114 common
shares outstanding, and upon completion of the consolidation, the Company has
approximately 63,983,057 post-consolidation common shares outstanding.


The Company filed articles of amendment pursuant to the Business Corporations
Act (Ontario) to effect the consolidation on September 23, 2008. The
consolidation has been accepted by the TSX Venture Exchange ("TSXV").  The
post-consolidation common shares will commence trading on the TSXV as of the
opening of trading on Wednesday September 24, 2008.


The consolidation followed the business combination of NFX Gold Inc. ("NFX") and
Maximus Ventures Ltd. ("Maximus") which was completed by way of a plan of
arrangement on September 16, 2008 (the "Arrangement"). Under the Arrangement,
NFX acquired all the issued and outstanding shares of Maximus in exchange for
NFX common shares on a one-for-one basis and NFX changed its name to "Bear Lake
Gold Ltd.". On September 18, 2008, the common shares of Bear Lake began trading
under their new name and trading symbol, BLG. The trading of the common shares
of Maximus on the TSXV was halted on September 16, 2008 and the Maximus common
shares were delisted from the TSXV effective at the close of trading on
September 18, 2008.


Letters of transmittal with respect to the consolidation will be mailed to
former NFX registered shareholders. All registered shareholders of the Company
will be required to send their certificates representing pre-consolidation
common shares with a properly executed letter of transmittal to the Company's
transfer agent - Equity Transfer & Trust Company in Toronto, Ontario. Additional
copies of the letter of transmittal can be obtained through Equity Transfer.
Letters of transmittal for the Arrangement were sent to former Maximus
registered shareholders and all holders who have duly completed letters of
transmittal and submitted their Maximus common share certificates in connection
with the Arrangement will receive post-consolidation Bear Lake common shares.


No certificates representing fractional post-consolidation common shares will be
issued pursuant to the consolidation. All fractional shares resulting from the
consolidation will be rounded down to the nearest whole number and no cash
consideration will be paid in respect of fractional shares.

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