BAU Bema Npv

RNS Number:2883B
Bema Gold Corporation
27 July 2004



                                  News Release

     Bema Arranges US$60 Million Bridge Loan Facility for Kupol Development

Vancouver, British Columbia, July 27, 2004 - Bema Gold Corporation (TSX / AMEX:
BGO, AIM: BAU) is pleased to announce that the Company has concluded loan
documentation and  signed an agreement whereby Bayerische Hypo- und Vereinsbank
AG ("HVB") will provide, as Mandated Lead Arranger, a US$60 million bridge loan
facility ( the "Facility") for the continued development of the Kupol project
located in north eastern Russia.

Bema will guarantee the Facility, which will mature 24 months from the signing
of the agreement, however, Bema intends to repay the Facility from a portion of
the proceeds of the Kupol project construction financing, which is expected to
be arranged in early 2005.

Based on the 2003 drill program, Bema completed a Preliminary Economic
Assessment of the Kupol project demonstrating that it can be developed as a high
grade, low cost, gold and silver mine with robust project economics (see press
release dated 06/05/04).

The 2004 exploration and development program commenced earlier this year with
57,000 metres of exploration and infill drilling planned as well as construction
of a runway for fixed wing aircraft, earth works for mine and mill facilities,
geotechnical and condemnation drill programs, and procurement of equipment for
2005 construction. To date, Bema has completed approximately 21,700 metres of
the 2004 drill program at Kupol and expects to release the results by mid
August. The drill program will continue throughout the fall followed by a Final
Feasibility Study which is scheduled to be completed by March 2005.

For information on Bema Gold Corporation please visit our website at
www.bema.com or contact Investor Relations:

Ian MacLean                         Derek Iwanaka

Manager, Investor Relations         Investor Relations
604-681-8371                        604-681-8371
investor@bemagold.com               investor@bemagold.com

The Toronto and American Stock Exchanges neither approve nor disapprove the
information contained in this News Release. Some of the statements contained in
this release are forward-looking statements, such as estimates and statements
that describe the Company's future plans, objectives or goals, including words
to the effect that the Company or management expects a stated condition or
result to occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and uncertainties.
Actual results in each case could differ materially from those currently
anticipated in such statements.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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