01:43 PM EST, 12/18/2018 (MT Newswires) -- Barkerville Gold Mines (BGM.V) reports that it has completed $28.5 million financing of common and flow through shares.

The company also provided an update --

Barkerville has been actively exploring and delineating new mineral resources at the Cariboo Gold Project. A total of 123,000 meters of drilling occurred on the property in 2018. Regional soil sampling and surface mapping also occurred in 2018. The results of this drilling will be included in an updated mineral resource estimate, expected to be released in 2019.

Barkerville has also completed test mining at Bonanza Ledge. While the proceeds raised from the sale of "flow-through shares" under the offering will be focused on exploration activities, test mining may resume at Bonanza Ledge, subject to receiving an amendment to the active mine permit allowing mining of the BC Vein Zone and approval by the Board of Directors of an updated mine plan for the BC Vein Zone.

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