Barkerville Gold Mines Closes $2Million Private Placement and Debt Settlement, Commences Drill Program at its Bonanza Ledge - BC Vein Property and Announces Resignation of Director

TORONTO, ON / TheNewswire / June 23, 2015 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company") is pleased to announce that further to its press release of June 15, 2015, it has completed a private placement of 6,250,000 flow through common shares (the "Flow Through Shares") at a price of $0.32 per Flow Through Share for gross proceeds of $2,000,000 (the "FT Offering").

In addition, the Company has settled an aggregate of $118,201 of indebtedness with an arm's length creditor through the issuance of an aggregate of 422,148 common shares (the "Common Shares") of the Company at a price of $0.28 per Common Share (the "Debt Settlement").

The Company intends to use the net proceeds from the FT Offering to explore its extensive property package encompassing the Cariboo Mining District and related properties in British Columbia. The securities issued pursuant to the FT Offering and the Debt Settlement are subject to a four month hold period. Completion of the FT Offering is subject to final acceptance of the TSX Venture Exchange.

The Company is also pleased to announce the commencement of its Phase I diamond drilling program that will initially be focused on the Bonanza Ledge - BC Vein Areas of the property (Barkerville Mountain). Geotech Drilling Services Limited, based out of Prince George, British Columbia has been awarded the contract to perform 20,000 metres of diamond drilling. The Phase I program is designed to validate the historical drilling performed on the property by previous operators, expand the known gold mineralization hosted in the BC Vein and also to assess the potential for additional occurrences of Bonanza Ledge style replacement sulphide gold mineralization. Currently, one drill has been assigned to the program with the possibility of additional drills being added at a later date. Drillhole assay results from this phase will be reported as they become available.

The Company also announces the resignation of Mr. Norman Anderson as a director, effective todays' date. The directors and management would like to thank Mr. Anderson for his contributions to the Company and wish him success in his future endeavours.

For further information on Barkerville Gold Mines Ltd., please contact:

Tom Obradovich

President & Chief Executive Officer

(416) 361-2511

tobradovich@sympatico.ca

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.

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