Barkerville Gold Mines corporate update plus exploration and production plans

Barkerville Gold Mines {TSXV: BGM.V}   has announced a corporate update.

It has also announced an update on its forthcoming exploration program and small-scale production plans, as well as a summary of recent activities with respect to optimising the Cow Mountain Resource.

Barkerville Gold Mines Provides Outlook and Corporate Update for 2016


April 21st, 2016

TORONTO, ON – Barkerville Gold Mines {TSXV: BGM.V} is pleased to provide an update on its forthcoming exploration program and small-scale production plans, as well as a summary of recent activities with respect to optimizing the Cow Mountain Resource.


Production at Bonanza Ledge and BC Vein
In the first quarter of 2016, Barkerville completed an underground mine plan for the balance of Bonanza Ledge ore and development of BC Vein ore which will be accessed from the same infrastructure. Geo-technical drilling was also completed on Bonanza Ledge.


This plan will be submitted to the BC Ministry of Energy and Mines (“BCMEM”) this quarter. Tenders have been submitted to several mine contractors and environmental work is also underway with underground development planned by the third quarter 2016. Upgrades and maintenance continues at the Company’s QR Mill where the ore will be processed. Details on production will be provided upon approval of the mine plan and environmental studies by the BCMEM.


Exploration 2016
The Company added over 80,000 hectares of additional exploration lands to its current extensive property package in the Cariboo Mining District in Q1. After a detailed regional and localised evaluation by our exploration team, a substantial drilling program on Island Mountain adjacent to the Cow Mountain Resource was recommended. In addition, an airborne geophysical magnetic and electromagnetic survey has been tendered and will commence in Q2, along with geochemical surveys, geological mapping, and prospecting. Priority targets generated from this program will be drill tested in the latter part of 2016.


Cow Mountain Update
Further to the company’s news release dated March 31, 2015, the Multiple Indicator Kriging (MIK) Cow Mountain resource estimate performed by Snowden Mining Industry Consultants of Vancouver, B.C. reported an Indicated Resource of 2.8 M oz (35.8 M tonnes at 2.4 g/t gold) and Inferred Resources of 2.0 M oz (27.5 M tonnes at 2.3 g/t gold) at a 0.5 g/t gold block cut-off.


The Company’s technical staff, as well as third party consultants, have been recompiling and validating the Cow Mountain databases with the aim of establishing a robust, geologically constrained resource model on which future economic considerations will be based. This new, geologically controlled estimate is scheduled for completion in the third quarter of 2016.


Alongside the aforementioned studies, the Company has recently completed 18,357 metres of its Phase I diamond drilling program on Cow Mountain designed to upgrade Inferred and Indicated gold resources within a conceptual open pit.Drilling has been halted temporarily due to seasonal melt conditions and the Phase II campaign is scheduled to begin once environmental conditions allow. The 41,000 metre Phase II program will take into account results from Phase I and will be utilized to further optimise the economics of the conceptual open pit. The second phase will also encompass geotechnical drilling for the purposes of optimizing pit walls as well as collection of fresh material for detailed metallurgical test work.
Qualified Persons

Exploration activities at the Cariboo Gold Project are jointly administered on site by the Company’s Project Managers Maggie Layman, P.Geo. and Wanda Carter, P.Geo. As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Paul Geddes, P.Geo. Vice President Exploration, is the Qualified Person for the Company and has prepared, validated and approved the technical 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.



For further information on Barkerville Gold Mines Ltd., please contact:
Tom Obradovich
+1 416 361 2511
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, uncertainty over the outcome of any litigious matters, 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.