NEW EXPANSION AT DEPTH GRADES 12.76 G/T AU OVER 25.40 METRES

TORONTO, ON – August 9th, 2017 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce that additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration drilling program at the Company’s flagship Cariboo Gold Project have confirmed short range continuity of the vein systems and expanded a veining corridor at depth in the Shaft Zone. The Company is currently exploring and delineating the Valley and Shaft Zones with seven drill rigs, while an eighth drill rig is testing a broad gold in soil anomaly on Barkerville Mountain. Given the continued drilling success at the project, the Company has ordered two additional drill rigs for early August 2017 bringing the total number of operating rigs to ten. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.

Short Range Continuity Confirmed in Shaft Zone

The Company is very pleased to announce that Phase II drillhole IM-17-024 has successfully demonstrated and enhanced the short-range grade continuity and width of one of the numerous Shaft Zone veining corridors via the intersection of 18.84 g/t Au over 30.85 metres. This intensely veined and silica altered sandstone hosted zone occurs 20 metres vertically below previously reported drillhole IM-17-078 which intersected 11.42 g/t Au over 28.55 metres at a vertical depth of 450 metres below surface. Because these stand-alone drill holes constitute only two intercepts that cannot be confidently corroborated by additional drill hole pierce points, the geometry and hence true width of the potential mineralized zone cannot be assuredly concluded at this time.

New Shaft Zone High Tenor Veining Corridors Intersected at Depth

Approximately nineteen metres down hole from the above stated intersection a second zone grading
7.88 g/t Au over 7.70 metres
 was encountered followed by another high tenor zone fifty-five metres further downhole in drillhole IM-17-124. This third veining corridor was intersected grading
12.76 g/t Au over 25.40 metres at a vertical depth of 540 metres below surface and is to date the deepest veining discovered in the Shaft Zone. As such, this new occurrence is open for expansion and is supported by previously reported drillhole IM-17-097 which intersected analogous veining grading 40.19 g/t Au over 3.10 metres, 39.05 g/t Au over 8.25 metres and 10.34 g/t Au over 4.50 metres at vertical depth of 480 metres below surface. Drillhole IM-17-097 is located 50 metres to the east along vein strike.

Chris Lodder, President and CEO, commented “These infill drilling results and the nearby newly identified mineralized zones, demonstrate the potential for large tonnage, high grade mineralized corridors which may be amenable to larger tonnage underground mining methods.”

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 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 Shaft Zone drillholes:

HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T)
IM-17-112 184.00 186.90 2.90 19.69
INCLUDING 184.00 184.65 0.65 84.50
IM-17-112 329.80 330.65 0.85 10.50
IM-17-112 483.40 488.15 4.75 11.37
INCLUDING 487.00 488.15 1.15 43.30
IM-17-112 514.60 515.30 0.70 20.40
IM-17-112 556.40 557.55 1.15 11.90
IM-17-112 618.55 619.05 0.50 15.15
IM-17-112 637.85 638.35 0.50 17.10
IM-17-112 655.50 656.00 0.50 17.10
IM-17-119 63.85 64.65 0.80 12.85
IM-17-119 73.00 74.50 1.50 7.80
IM-17-119 94.00 98.50 4.50 7.09
INCLUDING 97.00 98.50 1.50 19.15
IM-17-119 266.10 266.75 0.65 8.55
IM-17-120 272.25 273.50 1.25 10.90
IM-17-120 378.40 378.95 0.55 12.85
IM-17-120 384.00 390.80 6.80 12.18
INCLUDING 384.00 384.50 0.50 42.30
AND 385.00 385.50 0.50 35.40
AND 386.60 387.10 0.50 37.20
AND 390.00 390.80 0.80 18.90
IM-17-120 438.50 439.00 0.50 9.64
IM-17-120 496.50 500.00 3.50 12.34
INCLUDING 498.10 499.05 0.95 39.80
IM-17-120 583.30 584.00 0.70 25.10
IM-17-120 590.80 591.30 0.50 13.85
IM-17-120 603.50 604.00 0.50 11.35
IM-17-120 633.20 633.85 0.65 9.90
IM-17-121 71.50 76.00 4.50 6.53
INCLUDING 71.50 72.25 0.75 9.00
AND 73.55 74.05 0.50 35.80
IM-17-121 99.50 100.00 0.50 34.10
IM-17-121 287.95 288.45 0.50 40.50
IM-17-121 402.30 402.80 0.50 45.60
IM-17-121 497.35 498.30 0.95 21.20
IM-17-121 500.35 501.35 1.00 11.25
IM-17-122 ASSAYS PENDING
IM-17-123 ASSAYS PENDING
IM-17-124 88.90 89.50 0.60 12.95
IM-17-124 478.75 509.60 30.85 18.84
INCLUDING 478.75 500.40 21.65 26.00
INCLUDING 479.25 480.00 0.75 22.20
AND 480.00 480.95 0.95 38.70
AND 485.25 486.50 1.25 36.50
AND 486.50 487.10 0.60 164.00
AND 489.45 490.00 0.55 13.90
AND 490.00 491.00 1.00 22.20
AND 491.00 492.00 1.00 72.00
AND 492.00 493.00 1.00 55.00
AND 493.00 494.00 1.00 7.75
AND 494.00 494.70 0.70 42.90
AND 494.70 495.40 0.70 37.80
AND 498.55 499.50 0.95 50.00
AND 499.50 500.40 0.90 87.50
AND 504.30 504.80 0.50 6.64
AND 508.50 509.00 0.50 10.50
AND 519.50 520.00 0.50 7.52
IM-17-124 528.80 536.50 7.70 7.88
INCLUDING 533.90 534.75 0.85 19.55
AND 534.75 535.40 0.65 50.40
AND 535.40 536.50 1.10 6.51
IM-17-124 578.50 580.25 1.75 14.87
INCLUDING 579.65 580.25 0.60 41.90
IM-17-124 591.00 616.40 25.40 12.76
INCLUDING 592.00 592.70 0.70 77.00
AND 597.00 597.60 0.60 14.85
AND 597.60 598.10 0.50 94.30
AND 603.50 604.10 0.60 7.07
AND 604.10 604.80 0.70 155.50
AND 604.80 605.95 1.15 38.40
AND 612.05 612.55 0.50 9.06
AND 615.90 616.40 0.50 98.00

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. SHAFT = Shaft Zone, VALLEY = Valley Zone.

 

Table 2: Drillhole Collar Orientations:

HOLE-ID AZIMUTH DIP
IM-17-112 140.00 -45.00
IM-17-119 141.20 -63.60
IM-17-120 140.00 -63.00
IM-17-121 134.90 -65.50
IM-17-124 132.30 -65.00