Barker has 4 million settlement failures in six months

2011-05-24 14:34 ET - News Release

Mr. Louis Doyle reports

BARKER REPORTS APRIL 2011 TRADING AND SETTLEMENT SUMMARY

In follow-up to Barker Minerals Ltd.'s news releases in Stockwatch on March 21, 2011, and April 18, 2011, a continuing review and analysis of trading and settlement data indicate that between Nov. 1, 2010, and April 30, 2011, approximately 4,213,406 "settlement failures" or "delayed settlements" occurred in Barker's public market. Of those 4,213,406 failed settles, as of April 30, 2011, 2,739,796 shares still remain unsettled.

The month of March, 2011, revealed a significant increase in settlement failures in Barker's public share market. During this time frame, reported stock sales at the Toronto Stock Exchange (TSX) and alternative exchanges, Alpha and Pure, far exceeded the net delivery of shares for settlement through CDS. The total net sales in March of 4,421,101 shares exceeded the total net settlement at CDS by 3,051,351 shares.

The total net sales in April of 7,456,474 shares were exceeded by the total net settlement at CDS by 1,386,820 shares. The April activity shows a decrease in the number of outstanding settlement failures; however, a significant portion of the cumulative settlement failures since Nov. 1, 2010 (2,739,796), still remains unsettled.

               NOV. 1, 2010, TO APRIL 30, 2011, 
          BML TRADING AND SETTLEMENT SUMMARY CHART

Date             Total        Total         Net           Net
                  buys        sells        buys         sells
                  *TSX         *TSX        *TSX          *TSX

November,    2,155,187   -2,155,187     747,431      -747,431
2010                                                    
December,    1,800,485   -1,800,485     876,585      -876,585
2010                                                     
January,     1,367,418   -1,367,418   1,052,352    -1,052,352
2011                                                     
February,    4,762,324   -4,762,324   1,834,810    -1,834,810
2011                                                    
*March,     19,466,898  -19,466,898   4,421,101    -4,421,101
2011                                                     
*April,     31,023,440  -31,023,440   7,456,474    -7,456,474
2011                                                    
Cumulative  60,575,752  -60,575,752  16,388,753 (-16,388,753) 
totals                                                   

Date         Net buys      Net sells    **Variance of TSX 
              settled        settled     net sells verses  
               at CDS         at CDS         CDS net sell    
                                               settlement     

November,     672,678       -682,678            64,753       
2010                                               
December,     963,375       -963,375         (-86,790)     
2010                                                
January,      970,098       -838,848           213,504      
2011                                                
February,     951,012       -951,012           883,798      
2011                                               
*March,     1,369,750     -1,369,750         3,051,351     
2011                                                
*April,     8,772,295     -8,843,294      (-1,386,820) 
2011                                    *** Cumulative   
                                         variance total   
Cumulative 13,699,208  (-13,648,957)         2,739,796     
totals                                              

(*) Includes TSX-V, Alpha, Pure, but not Omega (Omega does 
not trade TSX-V shares) or OTC which would not impact the 
bottom line result. 
(**) A positive number variance monthly total reflects 
the number of settlement failures for that time period. 
A negative number (bracketed) variance monthly total means 
more shares were net settled in CDS than were net traded 
during the time period.
(***) The cumulative variance total is the approximate amount 
of outstanding settlement failures since Nov. 1, 2010, which 
remain unsettled as of April 30, 2011.

Barker will continue to monitor its trading and settlement activities and report any irregularities which may be related to fraudulent activities in Barker's public share market to the proper regulatory authorities.

Share registration

The identification of significant settlement failures has resulted in a number of concerned investors contacting the company, requesting how they can confirm share ownership. To confirm share ownership, interested investors can contact their financial institutions, and request delivery of their physical share certificates, or request direct registration of their shares in their personal name. As of April 30, 2011, approximately 84,682,644 Barker Mineral shares are registered and held by investors in certificate form. At that date, there were 129,880,849 shares issued and outstanding.

The conclusions in this news release are assumptions of the company, and there are no certainties of accuracy.