Canada NewsWire

TORONTO, Feb. 20, 2019

TORONTO, Feb. 20, 2019 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "BGM") is pleased to announce the final drilling results from the 2018 Island Mountain exploration and category conversion program at the Company's flagship Cariboo Gold Project and recent results from holes drilled for metallurgical testing.

Recent highlights from the Island Mountain Shaft Zone exploration and delineation program include 9.72 g/t Au over 14.4 meters in hole IM-18-169 located 15 meters from surface within a modelled vein corridor. Drill hole IM-18-176 intersected 32.44 g/t Au over 3.0 meters with a higher-grade intercept 97.80 g/t Au over 0.50 meter. These results, as well as the highlights listed below, demonstrate grade and widths within the modelled vein corridors amenable to successful resource conversion.

Recent intercepts at 600 meters depth include 16.10 g/t Au over 0.55 meter and 14.05 g/t Au over 0.55 meter in hole IM-18-176. The current resource at Shaft Zone deposit is modelled to an average depth of 350 meters. BGM is currently exploring down dip of the known gold mineralization on Shaft Zone with three drill rigs. BGM is currently exploring on Mosquito Creek with two rigs, and testing targets on Barkerville Mountain, Williams Creek and Willow with an additional three rigs. See Company news release dated January 17, 2019 for additional information on the 2019 drill program.

In addition to the delineation drilling, the Company drilled a total of 11 holes on Shaft Zone and Cow Mountain in mineralized vein corridors to collect material for metallurgical testing purposes. The selected assay highlights are presented below and include 7.75 g/t Au over 46.0 meters within hole IM-MET-18-002.

Selected Drilling Highlights:

• IM-18-162: 14.55 g/t Au over 3.65 meters
• IM-18-164: 34.90 g/t Au over 1.45 meters
• IM-18-169: 9.72 g/t Au over 14.40 meters
• IM-18-173: 24.97 g/t Au over 2.50 meters
• IM-18-174: 9.01 g/t Au over 5.50 meters
• IM-18-176: 32.44 g/t Au over 3.00 meters including 97.80 g/t Au over 0.50 meter
• IM-18-176: 105.0 g/t Au over 0.65 meter
• IM-MET-18-001: 63.63 g/t Au over 1.25 meters
• IM-MET-18-001: 142.5 g/t Au over 0.50 meter
• IM-MET-18-002: 7.75 g/t Au over 46.0 meters
• IM-MET-18-003: 42.10 g/t Au over 1.20 meters
• IM-MET-18-003: 110.5 g/t Au over 1.00 meter
• IM-MET-18-004: 34.61 g/t Au over 5.00 meters including 137.5 g/t Au over 0.85 meter
• CM-MET-18-001: 5.78 g/t Au over 8.25 meters

A drill hole location plan map and section are presented below. Detailed drilling results are presented at the end of this release. The Shaft Zone 3D deposit model with assay highlights is located on the Company's website:

 Barkerville Gold Mines Ltd. 3D Deposit Model

Mineralized quartz veins on the Cariboo Gold Project are overall sub-vertical dip and northeast strike.  Vein corridors are defined as a high-density network of mineralized quartz veins within the sandstones. These corridors have been defined from surface to a vertical depth averaging 300 meters and remain open for expansion at depth and down plunge. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

Chris Lodder, President and CEO, comments, "these drill results demonstrate the high probability to add significant resources to at least double the depth of our average depth of present resources. This year's drilling will continue to explore these areas to a depth of up to 650 m and extensions for 2 km to the Northwest and 4 km to the Southeast of the defined underground resources".

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company's Project Geologists, Kyle Orr and Felipe Castaneda. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. 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 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, BC.  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 QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd., and is overseen by the Company's Qualified Person, Maggie Layman, P.Geo, Vice President Exploration.

Drill core samples are submitted to ALS Geochemistry's analytical facility in North Vancouver, British Columbia 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 is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-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 mineral rights package located in the historical Cariboo Mining District of central British Columbia. Barkerville's Cariboo Gold Project mineral tenures cover 1,950 square kilometres; along a strike length of 67 kilometres which includes several past producing placer and hard rock mines, making it one of the most well-endowed land packages in British Columbia. Since the management change in mid-2015, the Company has unlocked the fundamental structural controls of gold mineralization. The Company's Brownfield's exploration team is focused on upgrading and expanding the May 2018 43-101 compliant resource within the 8 kilometers of principle project area located near the town of Wells, British Columbia.  The Company's Greenfield's team is developing quality exploration assets throughout the remaining land package through systematic, scientific, exploration.  The operation's team is focused on completing required studies in order to pemit underground mining on Cow and Island Mountains.

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange ('TSXV') nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Table 1: Length Weighted Gold Composites

Table 2: Drillhole Collar Orientations:

SOURCE Barkerville Gold Mines Ltd.

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