Edmonton, AB, November 29, 2013-Bandera Gold Ltd (“Bandera”) (TSXV:BGL) announced today that it has increased its non-brokered private placement of 5,000,000 units to 5,100,000 units of Bandera at a price of $0.05 per unit and closed the financing for proceeds of $255,000. Each unit consists of one common share and a half warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.05 per share on or before November 29, 2015.

The warrants will include a provision that in the event that the common shares of Bandera trade at or above $0.08 per share for 5 consecutive trading days, Bandera may, upon notice to the holders of the warrants, shorten the exercise period to 30 days after which the warrants will lapse.

The securities issued pursuant to the private placement have a hold period expiring March 30, 2014.

On Behalf of the Board

Stephen Roehrig

President and CEO

For further information please contact:

Stephen Roehrig, President and CEO (780) 465-4129

Web: www.banderagold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information provided herein contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Bandera at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Bandera that actual results achieved will be the same in whole or in part as those indicated in the forward-looking statements.