Veining Corridors Continue to Expand

TORONTO, ON – June 21, 2017 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration drilling program at the Company’s flagship Cariboo Gold Project. The Company is currently exploring and delineating the Valley Zone with four drill rigs. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.

Drilling Highlights:

  • CM-17-021: 10.77 g/t Au over 5.90 metres
  • CM-17-025: 17.55 g/t Au over 6.20 metres
  • CM-17-044: 5.44 g/t Au over 13.95 metres

The geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time and as such, core lengths are reported.

Veining Corridors Continue to Expand

Phase II drillhole CM-17-021 has intersected two new veining occurrences at vertical depths of 125 and 145 metres vertically below surface grading 9.32 g/t Au over 4.15 metres and 10.77 g/t Au over 5.90 metres respectively. Located on the southeastern strike of the Valley Zone, drillhole CM-17-025 intersected a new occurrence grading 17.55 g/t Au over 6.20 metres, 75 metres vertically below surface. As well, drillhole CM-17-044 discovered additional new veining occurrences in a broad corridor grading 5.44 g/t Au over 13.95 metres 54 metres below surface.

“We are seeing repeated success with targeting and intercepting mineralized vein systems across our current drilling program areas.” Kyle Orr, Senior Geologist with BGM commented. “These latest results provide more evidence that the Cow Mountain and Island Mountain areas are connected through continuous, high grade gold mineralization in the Valley Zone.”

About the Phase II Program

The 130,000 metre 2017 Phase II exploratory and delineation drill program on Island Mountain is intended to determine the extent of the vein systems that were historically never explored, and is aimed at discovering new vein systems and sulphide replacement bodies that will ultimately inform a maiden resource at Island Mountain. Four drill rigs are currently delineating additional mineralization below and on strike from the former Aurum and Cariboo Gold Quartz Mines which have never been explored since mining operations ceased circa 1967. Three rigs are testing down dip mineralization on Cow Mountain and in the Valley Zone. One rig is drilling new targets identified in 2016 located on Barkerville Mountain.

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company’s Exploration Manager, Maggie Layman, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Cariboo Gold Project.

Quality Assurance – Quality Control

Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at the Company’s secure facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. The Company inserts quality control (QC) samples at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company’s Qualified Person, Paul Geddes, P.Geo, Vice President Exploration.

Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).

For further information on Barkerville Gold Mines Ltd. please visit the Company’s website at www.barkervillegold.com or contact:

Chris Lodder
President & Chief Executive Officer
155 University Avenue, Suite 1440
Toronto, Ontario, Canada
[email protected]

About Barkerville Gold Mines Ltd.

The Company is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s mineral tenures cover 2,110 square kilometres along a strike length of 67 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by Barkerville in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of 2015 with 91,489 tonnes of material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange (‘TSXV’) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Table 1: Length weighted gold composites for Valley Zone drillholes:

HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
CM-17-021 171.35 175.50 4.15 9.32
INCLUDING 171.35 171.85 0.50 29.30
AND 173.45 174.10 0.65 34.70
CM-17-021 194.20 200.10 5.90 10.77
INCLUDING 196.40 196.90 0.50 93.00
AND 196.90 197.50 0.60 19.35
AND 198.00 198.60 0.60 6.52
CM-17-021 232.50 233.05 0.55 8.15
CM-17-025 53.75 54.25 0.50 15.60
CM-17-025 79.00 85.20 6.20 17.55
INCLUDING 83.75 84.35 0.60 83.10
AND 84.35 85.20 0.85 64.60
CM-17-025 164.00 164.65 0.65 13.90
CM-17-029 287.85 288.60 0.75 8.76
CM-17-029 349.00 349.50 0.50 46.70
CM-17-030 ASSAYS PENDING
CM-17-031 ABANDONED
CM-17-032 68.25 68.90 0.65 19.70
CM-17-032 215.20 215.70 0.50 14.10
CM-17-032 228.25 229.00 0.75 18.75
CM-17-032 287.35 288.20 0.85 10.05
CM-17-032 339.20 339.80 0.60 10.35
CM-17-033 144.65 145.30 0.65 26.40
CM-17-033 281.85 282.45 0.60 12.40
CM-17-033 302.50 304.00 1.50 9.74
CM-17-034 ABANDONED
CM-17-035 85.80 86.35 0.55 22.90
CM-17-035 87.50 88.00 0.50 36.20
CM-17-035 96.40 97.00 0.60 15.30
CM-17-035 103.65 104.30 0.65 45.80
CM-17-035 115.70 116.40 0.70 15.40
CM-17-035 121.80 125.65 3.85 6.46
INCLUDING 121.80 122.50 0.70 15.25
AND 124.50 125.10 0.60 11.85
CM-17-035 128.50 129.50 1.00 8.91
CM-17-035 132.05 133.00 0.95 10.95
CM-17-036 76.00 77.00 1.00 6.19
CM-17-036 198.15 198.70 0.55 12.15
CM-17-036 384.30 384.80 0.50 20.40
CM-17-037 296.65 300.40 3.75 4.19
INCLUDING 296.65 297.25 0.60 7.58
AND 297.80 298.30 0.50 7.57
AND 298.30 299.15 0.85 5.32
CM-17-037 313.00 313.50 0.50 12.20
CM-17-037 466.75 467.50 0.75 9.87
CM-17-037 476.45 476.95 0.50 7.89
CM-17-037 481.15 481.65 0.50 9.62
CM-17-037 499.50 500.00 0.50 8.43
CM-17-037 523.30 524.00 0.70 12.85
CM-17-037 529.55 530.05 0.50 12.05
CM-17-037 532.90 533.40 0.50 15.40
CM-17-038 60.75 61.40 0.65 10.65
CM-17-038 191.75 193.00 1.25 13.80
CM-17-038 200.50 201.10 0.60 9.72
CM-17-038 259.50 260.00 0.50 8.44
CM-17-038 295.00 296.00 1.00 8.66
CM-17-038 298.00 298.60 0.60 10.45
CM-17-039 64.55 65.05 0.50 21.60
CM-17-039 152.50 153.20 0.70 15.80
CM-17-039 356.40 356.90 0.50 16.30
CM-17-040 140.60 141.10 0.50 13.30
CM-17-040 161.00 165.20 4.20 8.44
INCLUDING 162.20 162.80 0.60 25.10
AND 162.80 163.30 0.50 20.40
AND 163.30 163.80 0.50 17.55
CM-17-040 200.00 201.10 1.10 7.78
CM-17-040 211.30 212.00 0.70 12.80
CM-17-040 217.00 217.50 0.50 13.40
CM-17-040 228.80 229.60 0.80 35.90
CM-17-040 235.80 236.60 0.80 37.20
CM-17-040 237.60 238.35 0.75 14.85
CM-17-040 255.30 255.80 0.50 56.60
CM-17-041 133.60 134.10 0.50 29.30
CM-17-041 252.65 253.60 0.95 22.70
CM-17-042 70.15 70.70 0.55 33.10
CM-17-042 97.00 97.65 0.65 10.40
CM-17-042 141.40 142.00 0.60 21.60
CM-17-042 156.00 156.50 0.50 29.80
CM-17-042 189.65 190.15 0.50 14.25
CM-17-042 191.50 192.00 0.50 16.50
CM-17-042 204.00 204.50 0.50 17.75
CM-17-042 349.55 350.20 0.65 12.05
CM-17-043 207.50 208.20 0.70 9.87
CM-17-043 249.30 249.80 0.50 21.70
CM-17-044 76.20 90.15 13.95 5.44
INCLUDING 76.20 76.70 0.50 40.00
AND 81.70 82.25 0.55 23.70
AND 86.75 87.25 0.50 18.45
AND 88.15 88.65 0.50 8.59
AND 89.65 90.15 0.50 54.80
CM-17-044 119.50 120.20 0.70 20.80
CM-17-044 124.45 125.05 0.60 12.30
CM-17-044 430.10 430.85 0.75 43.50
CM-17-044 459.35 460.05 0.70 17.90
CM-17-045 124.30 125.00 0.70 26.00
CM-17-045 165.55 166.55 1.00 14.10

True widths cannot be accurately determined from the information available therefore core lengths are reported. Rock not recovered by drilling was assigned zero grade. Top cuts have not been applied to high grade assays. MC = Mosquito Creek, SHAFT = Shaft Zone, VALLEY = Valley Zone.

Table 2: Drillhole Collar Orientations:

HOLE-ID AZIMUTH DIP HOLE-ID AZIMUTH DIP
CM-17-021 310.00 -45.00 CM-17-042 129.50 -44.90
CM-17-025 127.30 -61.20 CM-17-043 130.00 -45.00
CM-17-029 130.30 -45.30 CM-17-044 310.00 -45.00
CM-17-030 310.00 -45.00 CM-17-045 310.00 -50.20
CM-17-031 310.00 -45.00 CM-17-046 317.10 -44.70
CM-17-032 130.00 -44.90 CM-17-047 307.40 -46.50
CM-17-033 220.00 -45.00 CM-17-048 310.00 -55.00
CM-17-034 310.00 -45.00 CM-17-049 128.30 -46.10
CM-17-035 220.00 -65.00 CM-17-050 316.90 -58.80
CM-17-036 126.60 -45.30 CM-17-051 130.00 -45.00
CM-17-037 310.00 -43.80 CM-17-053 132.00 -61.30
CM-17-038 130.00 -44.20 CM-17-054 305.10 -57.10
CM-17-039 127.80 -45.00 CM-17-055 316.10 -54.30
CM-17-040 314.00 -45.00 CM-17-057 130.00 -41.30
CM-17-041 310.00 -67.00 CM-17-058 224.80 -44.30