Bema Gold & Arizona Star - Cerro Casale Deep Oxide Zone Drill Results.

VANCOUVER, British Columbia--(BUSINESS WIRE)--March 21, 1996-- BEMA GOLD CORP. (TSE,VSE,AMEX:BGO VSE:AZS) Arizona Star Resource Corp. ("Arizona Star") and Bema Gold Corporation ("Bema Gold") are pleased to announce that additional assay results have been received from the feasibility study drilling of the recently discovered deep oxide zone on the Cerro Casale deposit.

These results confirm management's belief that this zone will significantly increase the size of the Cerro Casale deposit.

The Cerro Casale deposit is located on the Aldebaran Property in the Maricunga District of north central Chile and is owned 51 percent by Arizona Star and 49 percent by Bema Gold.

Initial results of the 51,000 foot feasibility study drilling were released last January. These results showed higher gold grades over longer intervals than had been seen in earlier drilling programs and a greater depth of oxidation than had been previously interpreted. In addition this drilling encountered what appeared to be a significant body of deep, higher grade, oxide, gold mineralization below the initial Cerro Casale reserves, extending to a depth of at least 1,200 feet beneath the surface. An additional 20,000 foot of reverse circulation drilling program was started in early February to better define this zone.

The following selection of drill holes results are from the deep oxide zone which is situated beneath the initial Cerro Casale reserve. They are the result of deepening some existing holes and the drilling of new holes. The majority of the material in these intersections is oxide: -0-

Drill Hole  From    To      Length    Avg. Grade
            (ft)    (ft)    (ft)      oz/ton
----------------------------------------------
CC-102      407     1102    695       0.035
CC-103      886     1358    472       0.029
CC-108      538     1148    610       0.033
CC-109      532     1142    610       0.025
CC-114      564     879     315       0.026
CC-123      558     925     367       0.022
  including 801     925     124       0.024
CC-124      538    1024     486       0.025
CC-125      656    1083     427       0.038
CC-165      945    1220     275       0.031
CC-166      636    1011     374       0.021
  including 833     938     105       0.027

An independent pre-feasibility study was completed on the Cerro Casale Deposit in July 1994 which showed the deposit to be an economically viable open-pit, heap-leach operation with a minable reserve of 2 million ounces of gold. Based on the initial feasibility study drill results and the above results, management believes that the minable reserves at Cerro Casale will be of a higher gold grade and significantly larger in size.

Due to the need for this deep drilling the feasibility study has been re-scheduled for completion by late June of this year.

The Aldebaran Property is located approximately 20 miles south of the Refugio Mine (50 percent Bema Gold/50 percent Amax Gold Inc.) where processing of ore has recently begun. The Refugio Mine is scheduled to produce over 230,000 ounces of gold per year.

BEMA GOLD CORPORATION

Clive T. Johnson

Chairman, C.E.O. & President

ARIZONA STAR RESOURCE CORP.

Roger Richer

President

The Vancouver and Toronto Stock Exchanges neither approve nor disapprove the information contained in this News Release. Bema Gold Corporation trades on the Vancouver, Toronto and American Stock Exchange, symbol - BGO. Arizona Star Resource Corp. trades on the Vancouver Stock Exchange, symbol - AZS.

CONTACT: Bema Gold Corporation

John Anderson

Director, Investor Relations

604/681-8371

1-800-316-8855 North America

604/681-6209 (FAX)