BOWMORE Amends the Terms of Its Option Agreement Regarding the Duverny Gold Property in the Abitibi Region of Quebec

MONTRÉAL, QUÉBEC–(Marketwire – Jan. 25, 2013) – BOWMORE Exploration Ltd. (the “Company” or “Bowmore”) (TSX VENTURE:BOW)(FRANKFURT:OB5) is pleased to announce that the terms of the property option agreement dated August 10, 2010 (the “Option Agreement”) in regards to its Duverny gold property in Quebec (the “Property”) have been amended to extend by 24 months the option period (the “Option Period”) during which the Company is to incur an aggregate of $2,500,000 on the Property and to revise the amounts required to be spent each year.

Under the terms of the amendment to the Option Agreement (the “Amendment), the Company is to issue a total of 499,996 common shares of the Company (the “Shares”) to the property owners, as well as to make an additional $100,000 cash payment on or before December 31, 2016, as consideration for the 24 month extension of the Option Period, as well as for compensation for the Company not having kept certain non-material mineral claims in good standing. Pursuant to the Amendment, the Company’s exploration expenditure requirement for 2012 was reduced to $350,000 (which the Company has incurred), and it must incur the remaining exploration expenditures on the following schedule:

1. $400,000 on or before December 31, 2013;
2. $400,000 on or before December 31, 2014;
3. $500,000 on or before December 31, 2015 and;
4. $500,000 on or before December 31, 2016.

At the end of this period, the Company will have acquired a 100% interest in the Property, subject to the property owners retaining a 2% NSR. The issuance of the Shares is subject to receipt of acceptance for filing by the TSX Venture Exchange.

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