Bralorne Gold Mines Ltd.: Preliminary Economic Assessment 2011 Update Shows Viability

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/06/11 -- Bralorne Gold Mines Ltd. (TSX VENTURE: BPM)(OTCQX: BPMSF)(PINKSHEETS: BPMSF)(BERLIN: GV7)(FRANKFURT: GV7) ('Bralorne') is pleased to announce an updated Preliminary Economic Assessment report on the Bralorne mine operation located near Gold Bridge, British Columbia. The report was completed by Beacon Hill Consultants (1988) Ltd. and is dated October 2011.

  'The Bralorne mine was placed back into operation in April 2011 and has
  been operating since that time. It has processed some 11,000 tons of ore
  grading 0.254 oz Au/t as of the end of September, 2011 and has produced
  1629 oz (Dore bar) from gravity and 212.9 tons of arsenopyrite
  concentrate estimated to contain 873 oz of gold. A certain amount of Dore
  bar has been sold and there remains an inventory of 1505 oz Au and
  581 oz Ag and 212.9 tons of concentrate estimated to grade 4.098ozAu/ton.
  Bralorne has an agreement in place with a smelter to refine the Dore bar
  and is in negotiations with a buyer for the arsenopyrite concentrate. The
  before taxes net smelter value of this inventory is estimated at
  $3,295,840 based upon a gold price of US$1600/oz.

  The mine has outlined sufficient resources for a 5 year mine life at
  85tpd, 30,000tpy at an average grade of 0.28ozAu/t. Based on development
  and operating costs as shown in this report, which reflects those costs
  experienced by the Bralorne operations to date and metal prices of
  US$1600/oz for 2011, US$1500/oz 2012 and the backward 3 year average of
  US$1250/oz for succeeding years the operation has a positive cash flow,
  discounted @ 8% of $2.7 million. The 8% discounted cash flow increases to
  $9.5 million when using a gold price of US$1600/oz for all the 5
  operating years.

  It can be concluded that subject to gold metal prices that the Bralorne
  mine with provide an acceptable return on investment and although a large
  resource inventory is unlikely to be developed, there should be no reason
  why Bralorne should not continue operations for many years with only a
  few years of defined resources available at any one time; which is often
  the case for deposits with this type of geological multi-vein
  structures.'

The report is an update of previous reports done in 2005. 2006, 2007 and 2011 by Beacon Hill and as such is considered non-compliant with NI 43-101. For more information, please visit our website at: www.bralorne.com

ON BEHALF OF THE BOARD

William Kocken, President & Chief Executive Officer

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading 'Risk Factors' and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Bralorne Gold Mines Ltd.

William Kocken

President & Chief Executive Officer

604.682.3701

604.682.3600 (FAX)
ir@bralorne.com
www.bralorne.com