Barkerville Gold Mines Announces Filing of the Preliminary Economic Assessment Technical Report for the Cariboo Gold Project

TORONTO, Sept. 17, 2019 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce the filing of an independent preliminary economic assessment technical report on its Cariboo Gold Project, which has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The technical report, entitled "Preliminary Economic Assessment of the Cariboo Gold Project, District of Wells, British Columbia, Canada" and dated September 17, 2019 (effective date of August 18, 2019), has been prepared for Barkerville by, Allnorth Consultants Ltd., BBA inc., InnovExplo Inc, Golder Associates Ltd., Mining Plus Canada Consulting Ltd., SRK Consulting (Canada) Inc., and WSP Canada Inc. The Cariboo Gold Project PEA is available on SEDAR (www.sedar.com) under Barkerville's issuer profile. The key results of the PEA were announced on Aug 19, 2019.


About the Cariboo Gold Project

The Company is focused on developing its extensive mineral rights package located in the historical Cariboo Mining District of central British Columbia. BGM's Cariboo Gold Project mineral tenures cover 1,950 square kilometers; along a strike length of 67 kilometers 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 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 to permit 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.

SOURCE Barkerville Gold Mines Ltd.



Contact

Chris Lodder, President & Chief Executive Officer
155 University Avenue, Suite 1440
Toronto, Ontario, Canada
clodder@barkervillegold.com