BGM Intersects 17.30 G/T Au Over 7.50 Metres at Valley Zone

Expansion of Vein Corridors Continues

TORONTO, July 5, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce additional drilling results from the ongoing 130,000 metre Phase II Island Mountain exploration drilling program at the Company's flagship Cariboo Gold Project. The Company is currently exploring and delineating the Valley and Shaft Zones with seven drill rigs, while an eighth drill rig is conducting exploratory drilling on Barkerville Mountain. Detailed drilling results, a drill hole location plan map, vertical section and longitudinal section are presented at the end of this release.

Veining Corridors Continue to Develop in Valley Zone

The ongoing exploration and delineation drilling program in the Valley Zone continues to corroborate veining corridors as demonstrated by drillhole CM-17-057 which intersected a broad network of veining averaging 17.30 g/t Au over 7.50 metres at vertical depth of 170 metres below surface. At the same elevation 130 metres along vein strike to the southwest, drillhole CM-17-048 delineated additional veining grading 12.27 g/t Au over 4.55 metres. In a previously unexplored portion of the Valley Zone, another new veining occurrence averaging 11.33 g/t Au over 3.00 metres was discovered by drillhole CM-17-053 at a vertical depth of 140 metres below surface. Because of the wide hole spacings and scarcity of historical drilling in these areas, all occurrences are open for expansion.

"The high-grade vein corridors in the Valley Zone continue to be identified and will require infill drilling later in the year." noted Chris Lodder, President and CEO of Barkerville Gold Mines. "Seven drills are focused on infill drilling on Island Mountain and one rig is conducting reconnaissance drilling on Barkerville Mountain. Regional exploration in the larger land package was reinitiated last week and will continue until late September. The objective of the regional exploration program is to continue the advancement of future drill targets. Underground mine development continues at Bonanza Ledge with processing at the QR mill to start in August."

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company's Exploration Manager, Maggie Layman, 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 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, Paul Geddes, 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 land package located in the historical Cariboo Mining District of central British Columbia. Barkerville's mineral tenures cover 2,110 square kilometres along a strike length of 67 kilometres which includes several past producing hard rock mines of the historic Barkerville Gold Mining Camp near the town of Wells, British Columbia. The QR Project, located approximately 110 kilometres by highway and all weather road from Wells was acquired by Barkerville in 2010 and boasts a fully permitted 900 tonne/day gold milling and tailings facility. Test mining of the Bonanza Ledge open pit was completed in March of 2015 with 91,489 tonnes of material milled producing 25,464 ounces of gold. The Company has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models which are assisting management in defining new deposits in the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

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 for Valley and Shaft Zone drillholes:

HOLE-ID

FROM (M)

TO (M)

CORE LENGTH (M)

AU (G/T)

AREA

CM-17-046

115.20

115.70

0.50

145.00

VALLEY

CM-17-046

151.50

155.45

3.95

5.01

VALLEY

INCLUDING

152.40

153.05

0.65

24.90

VALLEY

CM-17-046

284.90

303.85

18.95

2.86

VALLEY

INCLUDING

290.25

290.80

0.55

9.29

VALLEY

CM-17-046

296.30

296.80

0.50

10.20

VALLEY

CM-17-046

303.20

303.85

0.65

30.70

VALLEY

CM-17-047

94.00

94.50

0.50

5.95

VALLEY

CM-17-047

97.00

97.80

0.80

6.55

VALLEY

CM-17-047

106.60

107.10

0.50

18.60

VALLEY

CM-17-047

137.55

138.05

0.50

11.15

VALLEY

CM-17-047

410.50

414.00

3.50

5.41

VALLEY

CM-17-047

482.75

484.50

1.75

7.96

VALLEY

CM-17-047

500.40

501.75

1.35

7.58

VALLEY

CM-17-047

600.25

600.75

0.50

6.42

VALLEY

CM-17-048

165.60

170.15

4.55

12.27

VALLEY

INCLUDING

166.30

167.00

0.70

70.80

VALLEY

CM-17-049

559.70

560.60

0.90

12.40

VALLEY

CM-17-050

63.20

64.10

0.90

5.63

VALLEY

CM-17-050

68.60

69.25

0.65

6.86

VALLEY

CM-17-051

94.75

96.10

1.35

17.45

VALLEY

CM-17-051

211.60

212.90

1.30

10.70

VALLEY

CM-17-051

234.00

235.10

1.10

13.00

VALLEY

CM-17-053

140.00

143.00

3.00

11.33

VALLEY

INCLUDING

140.50

141.00

0.50

54.10

VALLEY

CM-17-053

332.50

335.05

2.55

6.93

VALLEY

CM-17-053

373.70

374.50

0.80

5.39

VALLEY

CM-17-053

375.70

376.30

0.60

6.10

VALLEY

CM-17-054

131.00

134.55

3.55

6.22

VALLEY

INCLUDING

132.00

132.85

0.85

12.65

VALLEY

AND

133.50

134.00

0.50

15.25

VALLEY

CM-17-054

189.40

190.20

0.80

16.25

VALLEY

CM-17-054

689.85

690.35

0.50

7.85

VALLEY

CM-17-055

134.00

134.50

0.50

5.75

VALLEY

CM-17-055

363.55

364.40

0.85

15.85

VALLEY

CM-17-056




ASSAYS PENDING

VALLEY

CM-17-057

215.15

222.65

7.50

17.30

VALLEY

INCLUDING

215.15

215.80

0.65

57.40

VALLEY

AND

219.95

220.55

0.60

115.50

VALLEY

AND

220.55

221.15

0.60

29.40

VALLEY

AND

221.15

221.65

0.50

7.95

VALLEY

CM-17-057

233.70

234.30

0.60

16.50

VALLEY

CM-17-057

288.85

289.45

0.60

11.80

VALLEY

CM-17-057

316.30

316.80

0.50

46.60

VALLEY

IM-17-103

104.15

104.65

0.50

17.85

SHAFT

IM-17-103

261.55

262.30

0.75

17.95

SHAFT

IM-17-103

350.60

351.10

0.50

35.70

SHAFT

IM-17-103

371.50

372.25

0.75

9.22

SHAFT

IM-17-103

399.50

405.25

5.75

9.65

SHAFT

INCLUDING

401.45

402.15

0.70

37.00

SHAFT

AND

404.30

405.25

0.95

24.50

SHAFT

IM-17-104




ASSAYS PENDING

SHAFT

IM-17-105




ASSAYS PENDING

SHAFT

IM-17-106

71.95

72.45

0.50

17.00

SHAFT

IM-17-106

169.50

170.00

0.50

19.25

SHAFT

IM-17-106

203.10

211.25

8.15

8.01

SHAFT

INCLUDING

208.30

209.05

0.75

48.20

SHAFT

AND

210.50

211.25

0.75

33.10

SHAFT

IM-17-106

268.70

269.30

0.60

12.60

SHAFT

IM-17-106

490.55

491.90

1.35

10.59

SHAFT

IM-17-106

612.65

613.45

0.80

11.10

SHAFT

 

True widths cannot be accurately determined from the information available therefore core lengths are reported. Rock not recovered by drilling was assigned zero grade. Top cuts have not been applied to high grade assays. SHAFT = Shaft Zone, VALLEY = Valley Zone.

Table 2: Drillhole Collar Orientations:

HOLE-ID

AZIMUTH

DIP

CM-17-046

317.10

-44.70

CM-17-047

307.40

-46.50

CM-17-048

310.00

-55.00

CM-17-049

128.30

-46.10

CM-17-050

316.90

-58.80

CM-17-051

130.00

-45.00

CM-17-053

132.00

-61.30

CM-17-054

305.10

-57.10

CM-17-055

316.10

-54.30

CM-17-057

130.00

-41.30

IM-17-103

132.10

-45.40

IM-17-106

140.00

-59.10


 

SOURCE Barkerville Gold Mines Ltd.

For further information: on Barkerville Gold Mines Ltd. please visit our website at www.barkervillegold.com or contact: Chris Lodder, President & Chief Executive Officer, 155 University Avenue, Suite 1440, Toronto, Ontario, Canada, clodder@barkervillegold.com

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