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Barkerville Gold Intersects 9.85 g/t Gold Over 10.40 Meters and 8.96 g/t Gold Over 8.60 Meters

Press Release

HIGH-GRADE INTERCEPTS INCLUDE 102.50 G/T GOLD OVER 0.60 METER, 180.50 G/T GOLD OVER 0.55 METER, 169.50 G/T GOLD OVER 0.50 METER

TORONTO, Jan. 10, 2019 – Barkerville Gold Mines Ltd. (TSXV: BGM) (the “Company” or “Barkerville”) is pleased to announce drilling results of 50 holes from the 2018 Cow Mountain exploration and category conversion program at the Company’s flagship Cariboo Gold Project. The recent drilling results demonstrate continuity of high grade gold mineralization within vein corridors and extensions down dip and down plunge. A total of 63,970 meters in 231 holes were drilled on Cow Mountain during the 2018 drill program.

Recent highlights from the Cow Mountain exploration and delineation program include 10.47 g/t Au over 7.30 meters in hole CM-18-164, located 20 meters down dip from CM-18-159, that intersected 8.70 g/t Au over 3.35 meters within an existing vein corridor. CM-18-153 intersected 8.96 g/t Au over 8.60 meters, including high grade intercepts of 17.40 g/t Auover 0.85 meter, 9.35 g/t Au over 0.50 meter and 33.30 g/t Au over 0.70 meter.

Selected Drilling Highlights:

  • CM-18-151: 29.87 g/t Au over 3.85meters including 102.50 g/t Au over 0.60 meters
  • CM-18-153: 8.96 g/t Au over 8.60 meters
  • CM-18-158: 9.85 g/t Au over 10.40 meters
  • CM-18-159: 169.50 g/t Au over 0.50 meter
  • CM-18-159: 8.70 g/t Au over 3.35 meters
  • CM-18-164: 10.47 g/t Au over 7.30 meters
  • CM-18-172: 9.08 g/t Au over 4.55 meters
  • CM-18-172: 35.32 g/t Au over 3.50 meters including 180.50 g/t Au over 0.55 meter
  • CM-18-178: 73.70 g/t Au over 0.70 meter
  • CM-18-186: 10.39 g/t Au over 3.65 meters
  • CM-18-187: 11.09 g/t Au over 3.10 meters
  • CM-18-197: 7.05 g/t Au over 6.65 meters
  • CM-18-198: 45.50 g/t Au over 0.95 meter

True widths are estimated to be 50 to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

A drill hole location plan map and section are presented below. Detailed drilling results are presented at the end of this release. The Cow Mountain 3D deposit model with assay highlights is located on the Company’s website:

Barkerville Gold Mines Ltd. 3D Deposit Model

The drill program at Cow Mountain was designed to infill and expand high-grade gold-mineralized vein corridors modelled in the May 2018 Cow Mountain resource estimate. Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones.   Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike. These corridors have been defined from surface to a vertical depth of up to 300 meters and remain open for expansion at depth and down plunge. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company’s Project Geologists, Kyle Orrand Felipe Castaneda. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, 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, Maggie Layman, 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).

About Barkerville Gold Mines Ltd.

The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville’s Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company’s Brownfield’s exploration team is focused on developing and delineating a mineable resource within the 7 kilometers of principle project area located near the town of Wells, British Columbia. The Company’s Greenfield’s team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration. The operation’s team is focused on developing and mining the Bonanza Ledge and BC Vein deposits on Barkerville Mountain. This operation allows the company to generate near term cash flow, train a local work force, keeps the present mining permit active, and de-risk’s the project through staged production growth.  Processing of material from these deposits is processed at the QR mill. QR is a fully owned, permitted mill and tailings facility, located approximately 110 kilometres away from Wells, and can be accessed by an all-season road.

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