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Barkerville Gold Mines Ltd
Symbol C : BGM
Shares Issued 77,234,336
Close 2011-09-12 C$ 1.62
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Barkerville drills up to 3.4 m of 459 g/t Au at Cow Mtn

2011-09-13 09:20 ET - News Release

Mr. Frank Callaghan reports

BARKERVILLE INTERCEPTS UP TO 3.4 M (11.0 FEET) OF 459 G/T (13.393 OZ/T) GOLD INCLUDING 0.8 M (2.6 FEET) OF 1,942 G/T OR 56.635 OZ/T GOLD-DISCOVERS SECOND AND THIRD GOLD ZONES ON COW MOUNTAIN

Barkerville Gold Mines Ltd. has discovered the second visible gold-cosalite-pyrite-quartz mineralized zone returning up to 1,942 grams per tonne or 56.635 ounces per ton (resplit 2,156 grams per tonne or 62.875 ounces per ton) gold -- the highest gold grade recorded to date in the area. The new zone is parallel/subparallel to the first visible gold-cosalite-quartz-pyrite zone on Cow Mountain reported by the company on June 27 and July 26, and is about 305 metres (1,000 feet) to the mine grid east. Both zones, running mine grid south and north, are outside the perimeter of the proposed Cariboo gold quartz (CGQ) open pit on the northwest and west flanks of Cow Mountain on the company's project in central British Columbia.

A third mineralized zone, located mine grid southeast of the proposed CGQ open pit, returned assays grading up to 102 grams per tonne (2.975 ounces per ton) gold in drill hole CM11-44, and is controlled by drill holes CM11-28B and 29 on pad G, CM11-43 on pad H, CM11-44 and 45 on pad M, and CM11-46, 47 and 48 on pad J and K. The size of the controlled area of the zone is approximately 15 metres (50 feet) around.

The new visible gold-cosalite-quartz-pyrite zone is controlled respectively by drill holes CM11-85 and 86 on drill pad W, CM11-83 and 84 on pad V, M11-93 on pad X6, and CM11-97 on X2 at present which is about 244 metres (800 feet) long. It is preliminarily interpreted that the zone plunges at depth to the mine grid south. Drilling of CM11-97 is still in progress.

For the first time, it is confirmed that, in addition to pyrite, quartz and cosalite (a bismuth and lead sulphide mineral) are also the dominant minerals to carry gold, especially visible gold. Length of visible gold in a quartz vein in CM11-85 is up to 0.7 centimetre and that in drill hole CM11-93 is 0.25 to 0.50 centimetre in size.

Drilling on Cow Mountain continues. The company currently has five drill rigs in operation and a sixth is en route. Results will be released as they become available. Highlights are shown as follows and in the attached table, and drill sections will be posted on the company's website.

  • CM11-86:
    • 10.2 metres (33.6 feet) of 4.37 grams per tonne (0.101 ounce per ton) gold between 596.4 feet and 630.0 feet;
  • CM11-85:
    • 2.7 metres (8.8 feet) of 23.5 grams per tonne (0.684 ounce per ton) gold between 934.2 feet and 943.0 feet;
    • Including 0.5 metre (1.5 feet) of 130 grams per tonne (3.791 ounces per ton) gold between 938.5 feet and 940.0 feet;
    • 3.4 metres (11.0 feet) of 459 grams per tonne (13.393 ounces per ton) gold between 1,007 feet and 1,018 feet;
    • Including 0.8 metre (2.6 feet) of 1,942 grams per tonne or 56.635 ounces per ton (resplit 2,156 grams per tonne or 62.875 ounces per ton) gold between 1,010.4 feet and 1,013.0 feet;
  • CM11-84:
    • 3.2 metres (10.6 feet) of 11.5 grams per tonne (0.336 ounce per ton) gold between 296.4 feet and 307.0 feet;
    • 5.5 metres (18.0 feet) of 3.48 grams per tonne (0.102 ounce per ton) gold between 749.0 feet and 767.0 feet;
  • CM11-83:
    • 10.8 metres (35.4 feet) of 7.69 grams per tonne (0.224 ounce per ton) gold between 731.6 feet and 767.0 feet;
    • Including 1.7 metres (5.6 feet) of 30.5 grams per tonne (0.889 ounce per ton) gold between 751.4 feet and 757.0 feet;
  • CM11-46:
    • 4.1 metres (13.3 feet) of 6.02 grams per tonne (0.175 ounce per ton) gold between 196.8 feet and 210.1 feet;
  • CM11-45:
    • 1.2 metres (3.9 feet) of 24.2 grams per tonne (0.706 ounce per ton) gold between 208.0 feet and 211.9 feet;
  • CM11-44:
    • 9.1 metres (29.9 feet) of 7.90 grams per tonne (0.230 ounce per ton) gold between 147.0 feet and 176.9 feet;
    • Including 2.2 metres (7.3 feet) of 29.0 grams per tonne (0.846 ounce per ton) gold between 166.6 feet and 173.9 feet;
    • 6.2 metres (20.3 feet) of 14.9 grams per tonne (0.434 ounce per ton) gold between 227.0 feet and 247.3 feet;
    • Including 0.6 metre (1.9 feet) of 102 grams per tonne (2.975 ounces per ton) gold between 233.0 feet and 234.9 feet;
    • 5.3 metres (17.3 feet) of 12.4 grams per tonne (0.360 ounce per ton) gold between 767.6 feet and 784.9 feet;
    • Including 1.3 metres (4.3 feet) of 44.0 grams per tonne (1.283 ounces per ton) gold between 777.2 feet and 781.5 feet;
  • CM11-43:
    • 5.5 metres (17.9 feet) of 3.38 grams per tonne (0.099 ounce per ton) gold between 775.9 feet and 798.3 feet;
  • CM11-29:
    • 3.8 metres (12.4 feet) of 5.24 grams per tonne (0.153 ounce per ton) gold between 146.0 feet and 158.4 feet;
    • Including 0.4 metre (1.3 feet) of 46.0 grams per tonne (1.341 ounces per ton) gold between 156.4 feet and 157.7 feet;
  • CM11-28B:
    • 3.2 metres (10.6 feet) of 5.80 grams per tonne (0.169 ounce per ton) gold between 446.0 feet and 456.6 feet.

                 SIGNIFICANT INTERCEPTS OF 2011 
              DIAMOND DRILL HOLES ON COW MOUNTAIN 

DDH No.       From       To   Width  Width      Au       Au     Ag
             (feet)   (feet)  (feet)    (m)   (g/t)   (oz/t)  (g/t)

CM11-28      No drill core (hole got stuck and abandoned)
CM11-28B      75.8     76.8     1.0    0.3    3.04    0.089    N/S
             171.2    172.5     1.3    0.4    12.4    0.362    2.8
             284.4    296.0    11.6    3.5    2.09(i) 0.061(i) N/S
Including    284.4    288.5     4.1    1.2    31.2    0.910    1.6
             446.0    456.6    10.6    3.2    5.80(i) 0.169(i) 1.3(i)
             496.0    499.5     3.5    1.1    1.26(i) 0.037(i) N/S
             528.6    541.6    13.0    4.0    1.26(i) 0.037(i) N/S
             583.9    584.9     1.0    0.3    2.00    0.058    N/S
             743.3    747.1     3.8    1.2    2.79    0.081    N/S
           1,115.4  1,116.5     1.1    0.3    1.56    0.045    1.0
           1,216.4  1,219.6     3.2    1.0    1.19    0.035    N/S
           1,291.3  1,292.7     1.4    0.4    2.94    0.086    N/S
CM11-29      146.0    158.4    12.4    3.8    5.24(i) 0.153(i) 1.2(i)
Including    156.4   157.7     1.3    0.4    46.0    1.341    3.2
             247.4   253.0     5.6    1.7    8.43    0.246    N/S
             286.3   293.0     6.7    2.0    1.03(i) 0.030(i) N/S
Including    290.9   292.0     1.1    0.3    7.25    0.211    N/S
             549.6   552.0     2.4    0.7    3.28    0.096    N/S
             600.5   605.6     5.1    1.6    2.04    0.059    N/S
             879.0   880.7     1.7    0.5    3.09    0.090    N/S
           1,113.2 1,114.4     1.2    0.4    2.89    0.084    N/S
CM11-41      252.8   257.1     4.3    1.3     5.6    0.163    N/S
            (hole got stuck and abandoned)
CM11-42    No significant assay (hole got stuck and abandoned)
CM11-43      166.4   176.1     9.7    3.0    1.38(i) 0.040(i) N/S
             402.9   407.5     4.6    1.4    1.37    0.040(i) N/S
             546.1   559.8    13.7    4.2    1.54(i) 0.045(i) N/S
             731.8   740.6     8.8    2.7    1.68(i) 0.049(i) N/S
             775.9   793.8    17.9    5.5    3.38(i) 0.099(i) N/S
CM11-44      109.0   110.7     1.7    0.5    1.78    0.052    N/S
             147.0   176.9    29.9    9.1    7.90(i) 0.230(i) N/S
Including    166.6   173.9     7.3    2.2    29.0    0.846    1.2
             227.0   247.3    20.3    6.2    14.9(i) 0.434    1.4(i)
Including    233.0   234.9     1.9    0.6     102    2.975    9.0
             236.9   238.9     2.0    0.6    22.2    0.647    1.8
             241.6   243.2     1.6    0.5    29.5    0.860    1.8
             657.7   666.6     8.9    2.7   1.418(i) 0.041(i) N/S
             767.6   784.9    17.3    5.3    12.4(i) 0.360(i) N/S
Including    777.2   781.5     4.3    1.3    44.0    1.283    1.8
CM11-45       74.8    76.3     1.5    0.5    24.4    0.712
              80.2    85.1     4.9    1.5    25.6    0.747
             208.0   211.9     3.9    1.2    24.2(i) 0.706(i)
             230.2   232.6     2.4    0.7    2.57    0.075
             310.4   313.0     2.6    0.8    2.88    0.084
             330.5   332.9     2.4    0.7    12.0    0.350
CM11-46      196.8   210.1    13.3    4.1    6.02(i) 0.175(i) N/S
Including    204.5   207.4     2.9    0.9    27.3    0.796    1.4
             391.9   413.8    21.9    6.7    1.03(i) 0.030(i) N/S
             542.5   543.9     1.4    0.4    1.46    0.043    N/S
             708.7   725.1    16.4    5.0    1.72(i) 0.050(i) N/S
             766.6   780.8    14.2    4.3    1.01(i) 0.030(i) N/S
           1,108.0 1,121.8    13.8    4.2    2.20(i) 0.064(i) N/S
CM11-47      171.4   183.9    12.5    3.8    1.60(i) 0.047(i) N/S
             337.3   342.1     4.8    1.5    1.40(i) 0.041(i) N/S
CM11-48       55.8    80.4    24.6    7.5    1.80(i) 0.052(i) N/S
              99.0   114.8    15.8    4.8    1.03(i) 0.030(i) N/S
CM11-81      234.5   236.0     1.5    0.5    2.18    0.064    N/S
CM11-82      No significant assay
CM11-83      205.5   215.0     9.5    2.9    1.44    0.042    N/S
             235.5   245.2     9.7    3.0    4.22(i) 0.123(i) N/S
             341.9   345.9     4.0    1.2    1.74(i) 0.051(i) N/S
             361.8   362.8     1.0    0.3    25.5    0.744    1.0
             731.6   767.0    35.4   10.8    7.69(i) 0.224(i) N/S
Including    751.4   757.0     5.6    1.7    30.5    0.889    2.0
             787.0   799.9    12.9    3.9    4.29(i) 0.125(i) N/S
Including    793.4   795.7     2.3    0.7    23.4    0.682    1.2
             859.7   867.0     7.3    2.2    34.5    1.006    N/S
           1,039.4 1,055.6    16.2    4.9    12.7(i) 0.369(i) N/S
Including  1,047.9 1,050.0     2.1    0.6    92.0    2.683    8.0
CM11-84       40.0    71.5    31.5    9.6    1.58(i) 0.046(i) N/S
             105.8   108.9     3.1    0.9    5.20    0.152    1.0
             197.0   207.0    10.0    3.0    7.95(i) 0.232(i) N/S
             296.4   307.0    10.6    3.2    11.5(i) 0.336(i) N/S
             348.6   352.8     4.2    1.3    3.18    0.093    N/S
             440.8   460.6    19.8    6.0    1.24(i) 0.036(i) N/S
             584.4   588.3     3.9    1.2    8.62    0.251    N/S
             597.0   600.5     3.5    1.1    2.00    0.058    N/S
             724.6   729.9     5.3    1.6    1.38    0.040    N/S
             729.9   737.0     7.1    2.2    1.17(i) 0.034(i) N/S
             749.0   767.0    18.0    5.5    3.48(i) 0.102(i) N/S
CM11-85      394.8   395.8     1.0    0.3    1.10    0.032    N/S
             407.8   409.5     1.7    0.5    7.10    0.207    N/S
             676.6   687.0    10.4    3.2    4.10(i) 0.120(i) N/S
Including    679.2   681.3     2.1    0.6    20.1    0.586    N/S
             735.2   747.0    11.8    3.6    4.08(i) 0.119(i) N/S
             934.2   943.0     8.8    2.7    23.5(i) 0.684(i) N/S
Including    938.5   940.0     1.5    0.5   130.0    3.791    1.4
           1,007.0 1,018.0    11.0    3.4     459(i)13.393(i)29.9(i)
Including  1,010.4 1,013.0     2.6    0.8   1,942   56.635    126
CM11-86      197.0   210.6    13.6    4.1    1.84(i) 0.054(i) N/S
             252.2   254.2     2.0    0.6    2.05    0.060    N/S
             316.0   317.0     1.0    0.3    3.80    0.111    N/S
             527.0   537.0    10.0    3.0    1.86(i) 0.054(i) N/S
             596.4   630.0    33.6   10.2    4.37(i) 0.101(i) N/S

Note: N/S means no significant assay; (i) weighted.

Drill core processing included descriptive logging and sampling for geochemical analyses. The HQ and NQ-size drill core was cut/split in two halves using saws and a splitter at the company's Lowhee Creek compound in Wells-Barkerville in central British Columbia. 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 transshipment to Eco Tech Lab in Kamloops, B.C. Sample preparation and geochemical assaying is done at Eco Tech Lab, following its 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. Eco Tech Lab is certified under the assayers certification program of British Columbia.

The technical information in this news release has been reviewed and approved by chief geologist Jim Yin, PhD, PGeo, a qualified person as defined in National Instrument 43-101.

We seek Safe Harbor.

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