Buccaneer Gold Announces 2014 Normal Course Issuer Bid and Results of 2013 Bid

Toronto, Ontario--(Newsfile Corp. - February 12, 2014) - BUCCANEER GOLD CORP. (TSXV: BGG) ("Buccaneer" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSX-V") has accepted a notice filed by the Company of its intention to renew its prior normal course issuer bid (the "2013 Bid") for a further one year period (the "2014 Bid"). The Company intends to proceed with the 2014 Bid to purchase up to 2,575,166 common shares (the "Shares") of the Company.

The Company is commencing the 2014 Bid because it believes that the current market price of its Shares may not fully reflect the underlying value of the Company's business and its future business prospects. The Company believes that the purchase of Shares for cancellation is in the best interests of the Company’s shareholders by increasing the respective proportionate shareholdings and therefore increasing the respective equity interest in the Company for all remaining shareholders.

As of February 11, 2014, the Company had 32,191,667 Shares issued and outstanding. The 2,575,166 Shares that may be purchased by the Company under the 2014 Bid represent approximately 10% of the public float of the Company. The 2014 Bid will commence on February 13, 2014 and will terminate on February 13, 2015 or at such earlier date in the event that the number of Shares sought in the 2014 Bid has been repurchased. The Company reserves the right to terminate the 2014 Bid earlier if it feels that it is appropriate to do so.

All Shares will be purchased on the open market through the facilities of the TSX-V, and payment for the Shares will be in accordance with TSX-V policies. The price paid for the Shares will be the market price at the time of purchase. Purchasing may be suspended at any time, and no purchases will be made other than by means of open market transactions during the term of the 2014 Bid. The Shares purchased by the Company will be cancelled.

The Company has engaged Haywood Securities Inc. to act as broker through which the 2014 Bid will be conducted.

Previous purchases were made by the Company under the 2013 Bid, the results of which are noted hereunder.

Results of 2013 Bid

Buccaneer acquired 392,000 Shares at an average price of $0.03 per share under the 2013 Bid which commenced on February 11, 2013 and expired on February 11, 2014.

About Buccaneer

Buccaneer is a mineral exploration company whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Company is available on SEDAR at www.sedar.com.

For further information, please contact Paul Zyla, President and Chief Executive Officer or Kevin Swanborough, Chief Financial Officer at 416 366-4227 or by e-mail at info@buccaneergold.com.

Cautionary Statement

This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of Buccaneer, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Buccaneer’s expectations are the risks detailed herein and from time to time in the filings made by Buccaneer with securities regulators.

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