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File: NR_120711.pdf
Barkerville Gold Mines Ltd.
15th Floor 675 West Hastings Street, Vancouver, British Columbia, Canada V6B 1N2
Telephone: 604 669-6463 TSX Venture Exchange
Facsimile: 604 669-3041 Trading Symbol: "BGM"
Toll Free: 1-800 663-9688 Frankfurt Stock Exchange
Web: www.barkervillegold.com Trading Symbol: "IWUB"
News Release 11-35
Barkerville announces Property Purchase from
Mosquito Consolidated Gold Mines Ltd.
December 7, 2011
Vancouver, BC Barkerville Gold Mines Ltd. (the "Company") is pleased to announce that
subject to regulatory approval it has entered into an agreement with Mosquito Consolidated
Gold Mines Ltd. to acquire all residual property interest owned by Mosquito in the Cariboo
District near Wells, BC for the purchase price of $5,000,000. These interests include a 50%
Interest in the Cariboo Gold Quartz Property, placer mining rights on the Mosquito Creek
Property and a 3% Net Smelter Return royalty on the Cariboo Gold Quartz Mine Property, Island
Mountain Mine Property and Mosquito Creek Mine Property. The transaction is subject to
Mosquito Creek obtaining a fairness opinion and Board approval.
The Company intends to finance the property acquisition from the funds to be raised in their
private placement announced on December 5, 2011 (News Release 11-33).
Frank Callaghan, President and Chief Executive Officer of the Company, stated "The Company
had previously completed all of its obligations to acquire the 50% interest in the Cariboo Gold
Property other than the delivery of a feasibility study but this payment will enable the Company
to complete its obligations plus purchase the outstanding 3% Net Smelter Return royalties on
the properties which we believe to be in the best interests of the Company as it enables the
Company to continue its development of its Bonanza Ledge Project in an expedient manor."
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects
in the Cariboo Mining District in central B.C. The Company's mineral tenures now cover over
117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101
gold deposits, including the QR Mine & Mill. The QR Property was acquired in February 2010
and includes a 900 tonne/day gold milling facility and a permitted gold mine located
approximately 110 kilometers by highway and all-weather road from the Barkerville Gold Camp.
Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began
pouring doré gold in September 2010. In November 2010, the Company acquired a second
permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the
Barkerville Gold Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject to
government approvals. In November 2010 the Company and the Lhtako Dene First Nation also
signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. The
Company has not hedged any of its future gold production.
The technical information in this News Release has been reviewed and approved by Chief
Geologist Jim Yin, PhD, P.Geo, a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors
"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
Tel: (604) 669 6463
This News Release contains forward-looking statements. Forward-looking statements are
statements which relate to future events and conditions and therefore involve inherent risks and
uncertainties. These statements are only predictions and involve known and unknown risks,
uncertainties and other factors that may cause our or our industry's actual results, levels of
activity, performance or achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these forward-looking
statements. While these forward-looking statements, and any assumptions upon which they are
based, are made in good faith and reflect our current judgment regarding the direction of our
industry, actual results will almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance suggested herein. Except as
required by applicable law, the Company does not intend to update any of the forward-looking
statements to conform these statements to actual results. All phases of the Company's
operations are subject to environmental regulation and governmental approval and permits and
there can be no assurance that the Company will obtain all the requisite permits for future
development. Mining is an inherently risky business with large capital expenditures and cyclical
metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
File: NR_120711.doc
Barkerville Gold Mines Ltd.
15th Floor 675 West Hastings Street, Vancouver, British Columbia, Canada V6B 1N2
Telephone: 604 669-6463
TSX Venture Exchange
Facsimile: 604 669-3041
Trading Symbol: "BGM"
Toll Free: 1-800 663-9688
Frankfurt Stock Exchange
Web: www.barkervillegold.com
Trading Symbol: "IWUB"
News Release 11-35
Barkerville announces Property Purchase from
Mosquito Consolidated Gold Mines Ltd.
December 7, 2011
Vancouver, BC - Barkerville Gold Mines Ltd. (the "Company") is pleased to announce that subject to regulatory approval
---> it has entered into an agreement with Mosquito Consolidated Gold Mines Ltd. to acquire all residual property interest
---> owned by Mosquito in the Cariboo District near Wells, BC for the purchase price of $5,000,000. These interests includ
--->e a 50% Interest in the Cariboo Gold Quartz Property, placer mining rights on the Mosquito Creek Property and a 3% Net
---> Smelter Return royalty on the Cariboo Gold Quartz Mine Property, Island Mountain Mine Property and Mosquito Creek Min
--->e Property. The transaction is subject to Mosquito Creek obtaining a fairness opinion and Board approval.
The Company intends to finance the property acquisition from the funds to be raised in their private placement announc
--->ed on December 5, 2011 (News Release 11-33).
Frank Callaghan, President and Chief Executive Officer of the Company, stated "The Company had previously completed al
--->l of its obligations to acquire the 50% interest in the Cariboo Gold Property other than the delivery of a feasibility
---> study but this payment will enable the Company to complete its obligations plus purchase the outstanding 3% Net Smelt
--->er Return royalties on the properties which we believe to be in the best interests of the Company as it enables the Co
--->mpany to continue its development of its Bonanza Ledge Project in an expedient manor."
About Barkerville Gold Mines Ltd.
Since the mid 1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining Dist
--->rict in central B.C. The Company's mineral tenures now cover over 117,691.14 hectares, encompassing seven past produci
--->ng hard rock mines and three NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property was acquired in Fe
--->bruary 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 kil
--->ometers by highway and all-weather road from the Barkerville Gold Camp. Mining operations commenced at QR in the first
---> quarter of fiscal 2011 and the Company began pouring doré gold in September 2010. In November 2010, the Company
--->acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkervil
--->le Gold Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject to government approvals. In November 2
--->010 the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and
--->Cariboo Gold Projects. The Company has not hedged any of its future gold production.
The technical information in this News Release has been reviewed and approved by Chief Geologist Jim Yin, PhD, P.Geo,
--->a qualified person as defined in National Instrument 43-101.
On behalf of the Board of Directors
"J. Frank Callaghan"
J. Frank Callaghan
President and CEO
Tel: (604) 669 - 6463
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to futur
--->e events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions
--->and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual resul
--->ts, levels of activity, performance or achievements to be materially different from any future results, levels of acti
--->vity, performance or achievements expressed or implied by these forward-looking statements. While these forward-lookin
--->g statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment r
--->egarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimat
--->es, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicab
--->le law, the Company does not intend to update any of the forward-looking statements to conform these statements to act
--->ual results. All phases of the Company's operations are subject to environmental regulation and governmental approval
--->and permits and there can be no assurance that the Company will obtain all the requisite permits for future developmen
--->t. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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