Barkerville Gold Mines Ltd (BGM)

[gsfl]

27.4 Meters (90.0 Feet) of 7.09 g/T (0.207 oz/t) Gold
Including 12.2 Meters (40.0 Feet) of 15.7 g/T (0.457 oz/t) Gold & Including 9.1 Meters (30.0 Feet) of 20.8 g/T (0.606 oz/t) Gold & 2011 Drilling Programs Completes on Cow Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2012) - Further to the news releases on the high grade VG-cosalite-quartz-pyrite zones discovered by the Company on Cow Mt. reported respectively on June 27, July 26, September 13, October 18 and December 12, Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") reports more significant intercepts of 2011 drill results conducted on Cow Mt. recently.

Highlights include (Table 1):

CM11-74

27.4 m (90.0 feet) of 7.09 g/T (0.207 oz/t) gold between 215.2 and 242.6 meters (706.0' and 796.0')
including 12.2 meters (40.0 feet) of 15.7 g/T (0.457 oz/t) gold between 215.2 and 227.4 meters (706.0' and 746.0')
including 9.1 meters (30.0 feet) of 20.8 g/T (0.606 oz/t) gold between 215.2 and 224.3 meters (706.0' and 736.0')
CM11-106

3.6 m (11.8 feet) of 6.56 g/T (0.191 oz/t) gold between 44.8 and 48.4 meters (147.0' and 158.8')
CM11-109

4.7 m (15.5 feet) of 11.313 g/T (0.330 oz/t) gold between 213.8 and 218.5 meters (701.5' and 717.0' )
including 1.2 meters (4.0 feet) of 43.382 g/T (1.265 oz/t) gold between 215.5 and 216.7 meters (707.0' and 711.0')
CM11-122

15.4 m (50.6 feet) of 3.59 g/T (0.105 oz/t) gold between 352.7 and 368.1 meters (1,157.0' and 1,207.6')
including 8.9 meters (29.1 feet) of 5.98 g/T (0.174 oz/t) gold between 354.8 and 363.7 meters (1,164.0' and 1,193.1')
CM11-125

4.1 m (13.6 feet) of 22.328 g/T (0.651 oz/t) gold between 143.6 and 147.7 meters (471.0' and 484.6')
CM11-126

22.7 m (74.5 feet) of 5.736 g/T (0.167 oz/t) gold between 55.7 and 78.4 meters (182.8' and 257.3')
including 14.8 meters (48.5 feet) of 8.679 g/T (0.253 oz/t) gold between 57.2 and 71.9 meters (187.5' and 236.0')
including 5.0 meters (16.5 feet) of 22.911 g/T (0.668 oz/t) gold between 66.9 and 71.9 meters (219.5' and 236.0')
CM11-138

23.5 m (77.2 feet) of 5.597 g/T (0.163 oz/t) gold between 193.4 and 217.0 meters (634.6' and 711.8')
including 10.0 meters (32.7 feet) of 12.52 g/T (0.365 oz/t) gold between 197.2 and 207.2 meters (647.0' and 679.7')
including 4.2 meters (13.7 feet) of 26.763 g/T (0.781 oz/t) gold between 197.2 and 201.4 meters (647.0' and 660.7')
CM11-139

7.7 m (25.3 feet) of 8.560 g/T (0.250 oz/t) gold between 90.8 and 98.5 meters (298.0' and 323.3')
including 1.9 meters (6.3 feet) of 34.053 g/T (0.993 oz/t) gold between 96.6 and 98.5 meters (317.0' and 323.3')
CM11-140

11.1 m (36.3 feet) of 12.75 g/T (0.372 oz/t) gold between 21.5 and 32.6 meters (70.7' and 107.0')
including 3.0 meters (9.7 feet) of 47.627 g/T (1.389 oz/t) gold between 21.5 and 24.5 meters (70.7' and 80.4')
The significant intercept of drill holes CM11-74 mentioned above includes a high grade (40%) pyrite replacement band in grey/tan colored phyllite between 221.8 meters (727.7 feet) and 223.5 meters (733.4 feet).

All the significant intercepts described above and in Table 1 may not be the true width. The true width will be figured out after assay results of more drill holes at the same setups are received.

2011 Drilling Program on both Cow and Barkerville Mt. were completely finished by December 23, 2011 and results will be released as they become available. In total, 235 drill holes, which includes those got stuck and abandoned, were conducted on both Cow and Barkerville Mountains. These drill holes include 167 exploration drill holes conducted on Cow Mt., 46 exploration (41) and environmental (5) drill holes on Barkerville Mt., and 22 monitoring water holes on both Cow and Barkerville Mountains. Pending assay results of the other drill holes will be published as soon as they are received.

Drill core processing included descriptive logging and sampling for geochemical analyses. The NQ & NQ2-size drill core was cut/split in two halves using saws and a splitter at the Company's Lowhee Creek Compound in Wells-Barkerville, central B.C. One-half of the core is put in a sample bag. After all the samples are placed in the rice bags at the mine site, they are transported by BGM's personnel to a shipping company in Quesnel for trans-shipment to ALS Minerals in North Vancouver and Inspectorate Exploration & Services Ltd. in Richmond, B.C. for analysis. Sample preparation and geochemical assaying is done at ALS and Inspectorate Labs respectively, following their own internal standards for quality control and verification. The gold assaying method uses a standard fire assay with AA finish and a metallic gold assay for those samples with visible gold. Both ALS and Inspectorate are certified under the Assayers Certification Program of B.C.