Barkerville Gold Mines Ltd. {TSX.V: BGM}

Provided the new drilling results from the 2019 Island Mountain exploration and category conversion program at the company’s flagship Cariboo gold project in central British Columbia..

New results from eight recent holes on Island Mountain include 10.76 grams per tonne Au over 20.0 metres including a sample of 157.50 g/t Au over 1.25 metres in IM-19-019

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drills 20 m of 10.76 g/t Au at Island Mtn

2019-05-02 04:54 ET – News Release

Mr. Chris Lodder reports

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BGM INTERSECTS 10.76 G/T GOLD OVER 20.0 metreS IN DEEP EXPLORATION ON ISLAND MOUNTAIN

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Barkerville Gold Mines Ltd. has provided the new drilling results from the 2019 Island Mountain exploration and category conversion program at the company’s flagship Cariboo gold project in central British Columbia.

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New results from eight recent holes on Island Mountain include 10.76 grams per tonne Au over 20.0 metres including a sample of 157.50 g/t Au over 1.25 metres in IM-19-019, extending a mineralised vein corridor on the Shaft zone 60 metres down dip to a vertical depth of 450 metres. Infill hole IM-19-020 intersected 162.5 g/t Au over 0.50 metre outside of an existing vein corridor. IM-19-023 intersected five new previously unmodelled zones including 21.97 g/t Au over 4.05 metres. These results, as well as the attached summarised highlights, demonstrate continuity of grade and widths within the modelled vein corridors, expansion of mineralisation at depth and anomalous mineralisation between the vein corridors.

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Select drilling highlights

• IM-19-019 is located at the Shaft zone on Island Mountain and was designed to investigate down-dip extensions on the mineralized vein corridors as well as shallow infill high-grade zones. IM-19-019 was successful at intersecting multiple high-grade intercepts of gold mineralization including 27.60 g/t Au over 1.40 metres within a modelled vein corridor and farther down hole, at a vertical depth of 450 metres, IM-19-019 intersected 10.76 g/t Au over 20.0 metres in a vein corridor within sericite altered siltstone-sandstone and includes a sample that assayed 157.50 g/t over 1.25 metres. Mineralization continued to depth of 543 metres down hole, with a sample grading 11.85 g/t Au over 0.50 metre.
• IM-19-020 was designed to infill shallow, high-grade vein corridors on the Shaft zone and intersected a quartz vein hosting up to 80 per cent pyrite vein outside a previously modelled vein corridor that assayed 162.50 g/t over 0.50 metre at a vertical depth of 115 metres.
• IM-19-023 is a 684-metre-deep hole and intersected five main zones of mineralisation. At 194.5 metres down hole, IM-19-023 intersected previously unmodelled quartz veins that assayed 21.97 g/t Au over 4.05 metres including a sample of 87.60 g/t over 0.75 metre. At depth, a zone of strong silica alteration within sandstone and calcareous sandstone is present from 438 metres to 493 metres and exhibits multiple vein corridors with disseminated pyrite and cosalite not previously modelled and extend veins at depth. At 434.70 metres down hole, a mineralized zone assayed 6.78 g/t Au over 3.30 metres and 65 metres down dip of a modelled vein corridor. At 450.25 metres, 10.57 g/t Au over 5.60 metres, at 471 metres depth, 4.33 g/t Au over 3.70 metres including 12.95 g/t Au over 1.00 metre, at 485.35 metres depth 10.12 g/t Au over 7.95 metres.

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True widths are estimated to be 50 to 75 per cent of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high-grade assays.

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A complete table of assay highlights for IM-19-016 to IM-19-023 is attached. The Shaft zone 3-D deposit model with assay highlights is located on the company’s website.

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Mineralised quartz veins on the Cariboo gold project are overall subvertical dip and northeast strike. Vein corridors are defined as a high-density network of mineralised quartz veins within the sandstones. These corridors have been defined from surface to a vertical depth averaging 300 metres 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.

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Qualified persons

As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, PGeo, vice-president of 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.