Blue Gold Mining Inc. announces $20,000,000 best efforts offering of units

Blue Gold Mining Inc. (TSX VENTURE:BGX) (the “Corporation”) announces that the Corporation has entered into an agreement with a syndicate of Agents led by Cormark Securities Inc. and including Axemen Resource Capital Ltd., PI Financial Corp. and Canaccord Genuity Inc. (the “Agents”) to offer for sale (the “Offering”), on a best efforts agency basis, up to $20,000,000 of units (the “Units”) of the Corporation at a price of $1.00 per Unit (the “Offering Price”). Each Unit will consist of one common share in the capital of the Corporation (a “Common Share”) and one-half of one warrant (a “Warrant”). Each whole Warrant will entitle the holder to acquire one Common Share at a price of $1.50 for a period of two years following the closing date.

The Corporation will pay the Agents a cash commission equal to 6.0% of the gross proceeds of the offering. Closing of the offering is anticipated to occur on or before October 6, 2011 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.

The Corporation has also granted to the Agents the option to sell up to an additional $5,000,000 of Units, exercisable until the date which is two days prior to the closing date.

The net proceeds of the financing will be used for potential future acquisitions and for general corporate purposes.

Blue Gold Mining Inc.

Mark O’Dea, Director