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Friday, 02/10/2017 12:50:16 PM

Friday, February 10, 2017 12:50:16 PM

Post# of 465
BGM.v Barkerville Gold drills 9.1 m of 13.03 g/t Au at Cariboo



2017-02-10 08:14 ET - News Release


Mr. Chris Lodder reports

BARKERVILLE INTERSECTS 13.03 G/T AU OVER 9.10 METRES AT ISLAND MOUNTAIN AND PROVIDES CORPORATE UPDATE

Barkerville Gold Mines Ltd. has released final results from the 2016 phase I Island Mountain and Barkerville Mountain KL zone exploration drilling programs and first results from the new 2017 drilling at the company's flagship Cariboo gold project. All outstanding 2016 drill results have been received for the 27,131-metre phase I exploratory drilling program on Island Mountain and the first pass of widely spaced drilling on the KL zone gold-in-soil anomaly located on Barkerville Mountain. Drilling results are presented in the associated table.

Island Mountain drilling

The recently initiated 2017 phase II exploration drilling program on Island Mountain is currently being performed with six drill rigs on widely spaced 100-metre drill centres and infill dice-five drill patterns in the recently discovered Shaft zone. Discovered by way of the 2016 phase I program, the Shaft zone is defined by a series of previously undrilled vertically dipping vein sets occurring immediately footwall to the historic Aurum mine development. Phase II drill hole IM-17-004 intersected multiple auriferous veins in this new area including 13.03 grams per tonne gold over 9.10 metres, 11.48 g/t Au over 3.30 metres, 67.82 g/t Au over 2.90 metres and 72.80 g/t Au over 0.50 metre ranging from the near surface to minus 350 metres in vertical depth. Additional veining was also intersected in the Shaft zone by drill hole BGM-16-551: 9.22 g/t Au over 2.85 metres and 27.50 g/t Au over one metre as well as drill hole BGM-16-591 which intersected 6.97 g/t Au over 4.40 metres. In addition, stratigraphic drill hole BGM-16-515 intersected 9.61 g/t Au over 2.20 metres in new footwall veins.

KL zone drilling

The KL zone is located on the southeastern flank of Barkerville Mountain and is defined by a previously undrilled 800-metre-long gold-in-soil anomaly. As part of the first pass of exploratory drilling in this new area, 10 drill holes totalling 2,621 metres tested the anomaly at widely spaced 100-metre centres and encountered wide zones of intense silicification. Significant KL intersections include BGM-16-561: 21.09 g/t Au over 1.10 metres and BGM-16-590: 10.21 g/t Au over two metres.

2017 exploration update

The phase II drilling program is under way on Island Mountain with five drill rigs while a sixth rig is located on Cow Mountain performing a closely spaced grid program to collect material for an upcoming metallurgical test. Two additional drill rigs will be mobilized to the Wells project site imminently, with the focus being exploration and delineation of untested targets on Island, Cow and Barkerville Mountains. During 2017, the company intends to perform about 130,000 metres of diamond drilling in these areas with eight drill rigs.

Chris Lodder, president and chief executive officer, commented: "As we kick off the 2017 exploration program we are targeting specific areas with highest potential for resource definition within the central portion of the Cariboo gold project. Parallel to this we continue to advance towards initial production at Bonanza Ledge in the second quarter of 2017 and await final permit amendment approval to begin underground development. The QR mill has been upgraded substantially and commissioning using low-grade stockpiled material will begin shortly."

Qualified persons

Exploration activities at the Cariboo gold project are administered on-site by the company's exploration manager, Maggie Layman, PGeo. As per National Instrument 43-101, standards of disclosure for mineral projects, Paul Geddes, PGeo, 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 (Canadian Institute of Mining, Metallurgy and Petroleum) 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, B.C. 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 QA/QC program was designed and approved by Lynda Bloom, PGeo, of Analytical Solutions Ltd., and is overseen by the company's qualified person, Paul Geddes, PGeo, vice-president, exploration.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, B.C., 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 are pulverized. Analysis for gold is by 50-gram fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 part per million and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are reanalyzed using a 1,000 g screen metallic fire assay. A selected number of samples are also analyzed using a 48-multielemental geochemical package by a four-acid digestion, followed by inductively coupled plasma atomic emission spectroscopy (ICP-AES) and inductively coupled plasma mass spectroscopy (ICP-MS).

Appointment of vice-president, project development

The company is pleased to announce the appointment of Francois Vezina as vice-president, project development.

Mr. Vezina is a mining engineer with over 17 years of experience in mining and has extensive experience in open-pit and underground operations in Finland, Mexico and Canada. Mr. Vezina was the technical service manager for Agnico-Eagle Mines Ltd. and was responsible for overseeing the completion of the feasibility studies of LaRonde II, Pinos Altos and Kittila. Mr. Vezina then participated in the construction and commissioning of Pinos Altos as mine development manager and Kittila as mine operations manager before joining the Osisko Mining Corp. and participating as mine manager in the construction of the Canadian Malartic mine. He served more than five years as mine operations manager at the Canadian Malartic, responsible for the mining and maintenance department. Mr. Vezina is a specialist in mine operation optimization and is well recognized for innovating mining techniques. Mr. Vezina is presently the mine director of Osisko Gold Royalties Ltd. and holds a bachelor of mining engineering and a master in business administration (MBA).

Appointment of investor relations consultant

The company also announces that it has engaged S3 Communications Inc. to provide investor relations and corporate communications services for the company. S3 Communications is a Toronto-based company which provides value for its clients through strategic marketing and communication plans. Scott Kelly, managing partner of S3 Communications, will oversee all investor relations services on behalf of Barkerville, which include marketing, strategic communications and public relations, for a period of 12 months. In consideration for the services provided, Barkerville will pay S3 Communications a monthly fee of $6,000, in addition to reimbursement for expenses.

Mr. Kelly has more than 20 years experience in corporate communications and has direct experience serving as an independent director on public and private company boards, and prior to its acquisition by the TMX Group, Mr. Kelly was a partner, director and senior vice-president of the Equicom Group Inc.

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 1,164 square kilometres along a strike length of 60 kilometres which include several past-producing hardrock mines of the historic Barkerville mining camp near the town of Wells, B.C. 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.

LENGTH-WEIGHTED GOLD COMPOSITES FOR ISLAND MOUNTAIN
AND BARKERVILLE MOUNTAIN DRILL HOLES

Hole From To Core length Au
ID (m) (m) (m) (g/t)

BGM-16-515 195.00 197.20 2.20 9.61
Including 196.00 196.50 0.50 23.8
And 196.50 197.20 0.70 8.43
BGM-16-515 199.50 200.60 1.10 7.53
BGM-16-550 132.15 133.00 0.85 1.13
BGM-16-551 32.40 33.50 1.10 6.73
BGM-16-551 174.40 175.00 0.60 5.12
BGM-16-551 184.00 185.00 1.00 27.5
BGM-16-551 197.15 200.00 2.85 9.22
Including 198.40 199.10 0.70 30.8
BGM-16-591 26.40 27.70 1.30 12.4
BGM-16-591 51.10 52.20 1.10 8.86
BGM-16-591 55.50 56.00 0.50 15.65
BGM-16-591 61.10 65.50 4.40 6.97
Including 61.10 62.20 1.10 5.49
And 64.90 65.50 0.60 38.3
BGM-16-591 75.00 75.65 0.65 25.8
BGM-16-591 79.50 80.45 0.95 5.06
BGM-16-592 169.50 170.50 1.00 1.29
BGM-16-593 32.40 33.50 1.10 20
BGM-16-593 188.00 189.05 1.05 8.23
BGM-16-557 140.77 141.30 0.53 6.98
BGM-16-557 152.70 154.00 1.30 4.53
BGM-16-561 61.50 62.00 0.50 19.7
BGM-16-561 66.17 66.85 0.68 21.5
BGM-16-561 73.90 75.15 1.25 16.9
BGM-16-561 81.10 82.80 1.70 7.7
BGM-16-561 179.65 180.75 1.10 21.09
Including 179.65 180.20 0.55 34.1
And 180.20 180.75 0.55 8.08
BGM-16-566 102.00 102.50 0.50 7.51
BGM-16-569 57.30 58.30 1.00 4.17
BGM-16-569 96.15 97.10 0.95 9.49
BGM-16-573 60.70 61.25 0.55 3.71
BGM-16-573 80.75 81.30 0.55 26.9
BGM-16-573 110.25 111.55 1.30 2.17
BGM-16-573 140.85 141.40 0.55 5.28
BGM-16-576 67.10 67.65 0.55 5.61
BGM-16-576 68.50 70.00 1.50 2.15
BGM-16-579 NSA
BGM-16-586 273.00 273.50 0.50 6.47
BGM-16-590 50.75 51.25 0.50 10.45
BGM-16-590 88.10 88.60 0.50 0.08
BGM-16-590 117.25 117.75 0.50 7.01
BGM-16-590 138.25 140.25 2.00 10.21
Including 139.25 139.75 0.50 10.3
And 139.75 140.25 0.50 24.7
BGM-16-594 131.50 132.00 0.50 5.19
BGM-16-594 332.10 332.65 0.55 4.38
IM-17-001 106.50 107.00 0.50 12.00
IM-17-001 129.00 129.85 0.85 5.50
IM-17-001 137.50 138.00 0.50 5.40
IM-17-002 pending
IM-17-003 234.50 235.25 0.75 16.25
IM-17-004 121.20 123.90 2.70 7.32
Including 122.90 123.40 0.50 14.10
And 123.40 123.90 0.50 10.50
IM-17-004 127.80 131.10 3.30 11.48
IM-17-004 130.00 130.55 0.55 64.40
IM-17-004 173.70 174.25 0.55 26.70
IM-17-004 179.40 188.50 9.10 13.03
Including 180.70 181.30 0.60 16.15
And 187.70 188.50 0.80 95.30
IM-17-004 248.00 248.60 0.60 27.10
IM-17-004 263.00 263.70 0.70 10.40
IM-17-004 292.40 295.30 2.90 67.82
Including 292.40 293.50 1.10 157.00
And 293.50 294.20 0.70 14.95
And 294.20 294.80 0.60 22.30
IM-17-004 338.70 340.20 1.50 7.33
IM-17-004 359.50 360.00 0.50 72.80
IM-17-004 373.00 375.95 2.95 7.55
Including 374.00 374.50 0.50 18.75
IM-17-004 381.60 382.10 0.50 8.92
IM-17-004 389.00 389.50 0.50 7.68
IM-17-005 196.00 197.00 1.00 4.65
IM-17-006 186.35 187.30 0.95 6.35

Core lengths represent 50 to 90 per cent of true widths.
Rock not recovered by drilling was assigned zero grade
and not included in the composites. Top cuts have not
been applied to high-grade assays.
NSA -- no significant assays.
IM -- Island Mountain.
KL -- KL zone (Barkerville Mountain).

We seek Safe Harbor.

© 2017 Canjex Publishing Ltd. All rights reserved.

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