Mr. Chris Lodder reports

BGM INTERSECTS 31.22 G/T AU OVER 7.50 METRES AT SHAFT ZONE

Barkerville Gold Mines Ltd. has released additional results from the continuing 130,000-metre phase 2 Island Mountain exploration drilling program at the company's flagship Cariboo gold project. The company is currently exploring and delineating Island Mountain with seven drill rigs and has now relocated an eighth rig to the Valley zone which occurs between Cow Mountain and Island Mountain. Detailed drilling results, a drill hole location plan map, level plan and longitudinal section are presented on the company's website.

Drilling highlights:

• IM-17-045: 14.01 grams per tonne gold over 5.25 metres;
• IM-17-049: 7.73 g/t Au over 8.35 metres;
• IM-17-050: 12.60 g/t Au over six metres;
• IM-17-058: 31.22 g/t Au over 7.50 metres.

Note

True widths cannot be accurately determined from the information available therefore core lengths are reported.

Shaft zone continues to demonstrate continuity

The company intersected 31.22 g/t Au over 7.50 metres including 197.00 g/t Au over 1.10 metres with drill hole IM-17-058 in the southeastern portion of the Shaft zone at a shallow depth of 80 metres below surface. This veining intersection correlates very well with previously reported veining defined by drill holes IM-17-046 which intersected 15.76 g/t Au over four metres 50 metres along vein strike and IM-17-033 which intersected 7.84 g/t Au over 3.80 metres, 150 metres along vein strike to the northeast. This newly defined high-grade intersection is untested along strike to the southwest and is open for expansion at depth.

Averaging 7.73 g/t Au over 8.35 metres, drill hole IM-17-049 was successful in demonstrating vertical continuity with previously reported drill hole BGM-16-529 which intersected veining grading 6.90 g/t Au over 11.45 metres. The two drill hole intersections are separated by a vertical distance of 60 metres and remain untested below 250 metres vertical depth.

New mineralization expands Mosquito Creek to depth

At vertical depths of 250 and 320 metres vertically below surface in the Mosquito Creek area, drill hole IM-17-045 intersected new veining grading 7.96 g/t Au over 3.75 metres and 14.01 g/t Au over 5.52 metres, respectively. These new occurrences occur 100 metres northwest of previously reported 2016 phase I drill hole BGM-16-527 which intersected deep veining grading 10.34 g/t Au over 11.50 metres at a vertical depth of 400 metres below surface. Additionally, drill hole IM-17-054 intersected another occurrence averaging 6.99 g/t Au over 3.10 metres situated 100 metres northwest of IM-17-045. The new veining outlined by these widely spaced, 100-metre-centred drill holes is open for expansion in all directions.

About the phase 2 program

The 130,000-metre 2017 phase 2 exploratory and delineation drill program on Island Mountain is intended to determine the extent of the vein systems that were historically never explored, and is aimed at discovering new vein systems and sulphide replacement bodies that will ultimately inform a maiden resource. Seven drill rigs are currently operating on Island Mountain, with an eighth rig testing for additional mineralization below the former Aurum and Cariboo gold quartz mines which have never been explored since mining operations ceased about 1960.

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 g 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).

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 includes several past-producing hard rock mines of the historic Barkerville gold mining camp near the town of Wells, B.C.

 
          LENGTH-WEIGHTED GOLD COMPOSITES FOR 
          ISLAND MOUNTAIN PHASE 2 DRILL HOLES
  
Hole              From       To        Core length         Au 
ID                 (m)      (m)                (m)      (g/t)

IM-17-045       278.10   281.85               3.75       7.96
including       278.10   279.10               1.00      18.00
and             280.60   281.10               0.50      20.70
IM-17-045       358.90   364.15               5.25      14.01
including       358.90   359.40               0.50      13.70
and             361.00   362.00               1.00      23.60
and             362.00   363.05               1.05      30.60
IM-17-045       399.80   401.80               2.00       5.62
IM-17-045       460.30   460.80               0.50      10.85
IM-17-047       134.60   135.75               1.15      20.93
including       135.15   135.75               0.60      34.80
IM-17-047       243.50   245.30               1.80      16.53
including       244.65   245.30               0.65      45.50
IM-17-049       124.75   125.25               0.50      28.30
IM-17-049       309.70   310.75               1.05      11.00
IM-17-049       357.65   366.00               8.35       7.73
including       360.20   361.00               0.80      45.10
and             363.65   364.85               1.20      15.80
IM-17-050       213.00   219.00               6.00      12.60
including       214.00   214.80               0.80      63.40
and             214.80   215.30               0.50      45.80
IM-17-050       425.15   426.70               1.55       7.57
including       425.90   426.70               0.80      13.75
IM-17-051                                      assays pending
IM-17-053        17.70    21.00               3.30       7.89
including        18.30    19.80               1.50      14.30
and              19.80    20.20               0.40      10.50
IM-17-053        36.00    39.80               3.80      11.03
including        38.00    39.00               1.00      25.10
IM-17-053       122.00   123.00               1.00      10.55
IM-17-054       307.40   310.50               3.10       6.99
including       308.50   309.00               0.50      19.05
and             310.00   310.50               0.50      22.30
IM-17-055       203.25   204.10               0.85       3.50
IM-17-056        84.00    85.50               1.50       4.42
IM-17-057                                      assays pending
IM-17-058       157.65   158.15               0.50      12.35
IM-17-058       188.50   196.00               7.50      31.22
including       190.75   191.85               1.10     197.00
IM-17-059        91.90    92.60               0.70       4.14
 
True widths cannot be accurately determined from the 
information available therefore core lengths are reported. 
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. 
 

We seek Safe Harbor.