BGM Intersects 13.31 g/t Au over 11.00 Metres at Shaft Zone

May 9th, 2017

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Shaft Zone Veining Significantly Expanded into Footwall

TORONTO, ON - May 9th, 2017 - 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 Zone with four drill rigs. Detailed drilling results, a drill hole location plan map, level plan and longitudinal section are presented at the end of this release.

Shaft Zone Significantly Expanded

Exploratory drillhole IM-17-101 has expanded the footwall extents of the Shaft Zone by intersecting numerous previously unidentified vein sets including 12.48 g/t Au over 3.75 metres (130 metres below surface), 13.31 g/t Au over 11.00 metres (200 metres below surface), and 7.60 g/t Au over 11.75 metres (250 metres below surface). The latter two intervals respectively occur 30 and 125 metres footwall to the originally interpreted sandstone footwall contact which is the dominant host to veining in the Cariboo Gold Camp. Due to the lack of drilling in this new area, no positive correlations with other drillholes can be made at this time and as such the new veining occurrences are open for expansion in all directions.

“We are greatly encouraged by the results of this recent drilling at the Shaft Zone,” commented BGM’s Chief Geoscientist Dr. Terry Harbort. “The wide, high-grade vein intercepts encountered indicate a significant extension of previously unknown continuity along strike of the vein zones into footwall units.”

About the Phase II Program

The 130,000 metre 2017 Phase II exploratory and delineation drill program on Island Mountain is intended to determine the extent of the vein systems that were historically never explored, and is aimed at discovering new vein systems and sulphide replacement bodies that will ultimately inform a maiden resource at Island Mountain. Four drill rigs are currently delineating additional mineralization below the former Aurum and Cariboo Gold Quartz Mines which have never been explored since mining operations ceased circa 1960.

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).

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

Chris Lodder
President & Chief Executive Officer
155 University Avenue, Suite 1440
Toronto, Ontario, Canada
[email protected]

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 Island Mountain Phase II drillholes:

HOLE-ID FROM (M) TO (M) CORE LENGTH (M) AU (G/T) AREA
IM-17-086 122.80 123.40 0.60 70.80 SHAFT
IM-17-086 202.60 203.30 0.70 129.00 SHAFT
IM-17-086 220.50 221.05 0.55 7.84 SHAFT
IM-17-086 226.10 226.60 0.50 6.80 SHAFT
IM-17-086 277.30 278.00 0.70 11.95 SHAFT
IM-17-087 124.00 125.10 1.10 18.00 SHAFT
IM-17-087 130.70 132.60 1.90 14.44 SHAFT
INCLUDING 130.70 131.60 0.90 19.85 SHAFT
AND 131.60 132.60 1.00 9.57 SHAFT
IM-17-087 166.00 166.65 0.65 19.45 SHAFT
IM-17-087 247.60 259.05 11.45 5.32 SHAFT
INCLUDING 247.60 248.55 0.95 10.45 SHAFT
AND 248.55 250.00 1.45 8.72 SHAFT
AND 257.30 258.55 1.25 23.60 SHAFT
AND 258.55 259.05 0.50 7.84 SHAFT
IM-17-087 308.00 308.95 0.95 12.15 SHAFT
IM-17-088 285.50 286.30 0.80 1.02 MC
IM-17-089 232.80 239.05 6.25 6.18 MC
INCLUDING 232.80 233.60 0.80 12.35 MC
AND 237.95 239.05 1.10 24.70 MC
IM-17-090 334.30 335.80 1.50 22.70 MC
IM-17-090 402.10 402.60 0.50 35.90 MC
IM-17-090 580.50 581.80 1.30 13.50 MC
IM-17-091 ASSAYS PENDING
IM-17-092 32.10 32.60 0.50 7.25 MC
IM-17-092 36.00 37.00 1.00 12.00 MC
IM-17-093 89.40 90.15 0.75 11.75 SHAFT
IM-17-093 122.10 122.65 0.55 45.90 SHAFT
IM-17-093 150.30 151.35 1.05 17.04 SHAFT
INCLUDING 150.30 150.80 0.50 11.15 SHAFT
AND 150.80 151.35 0.55 22.40 SHAFT
IM-17-093 160.70 161.40 0.70 54.50 SHAFT
IM-17-093 167.10 167.90 0.80 78.90 SHAFT
IM-17-093 212.05 216.90 4.85 36.50 SHAFT
INCLUDING 212.05 212.90 0.85 128.50 SHAFT
AND 215.90 216.90 1.00 66.50 SHAFT
IM-17-093 295.25 297.70 2.45 10.05 SHAFT
INCLUDING 295.25 296.10 0.85 14.85 SHAFT
AND 297.05 297.70 0.65 18.40 SHAFT
IM-17-094 148.20 149.50 1.30 17.30 MC
IM-17-095 54.20 54.90 0.70 3.34 MC
IM-17-096 ASSAYS PENDING
IM-17-097 ASSAYS PENDING
IM-17-098 ASSAYS PENDING
IM-17-099 52.55 54.20 1.65 11.65 MC
INCLUDING 52.55 53.20 0.65 18.65 MC
AND 53.70 54.20 0.50 13.55 MC
IM-17-100 ASSAYS PENDING
IM-17-101 60.65 62.00 1.35 11.00 SHAFT
IM-17-101 64.60 65.10 0.50 13.80 SHAFT
IM-17-101 172.65 176.40 3.75 12.48 SHAFT
INCLUDING 173.85 175.14 1.29 28.00 SHAFT
IM-17-101 238.15 249.15 11.00 13.31 SHAFT
INCLUDING 239.20 239.70 0.50 8.42 SHAFT
AND 241.50 242.10 0.60 12.05 SHAFT
AND 242.70 243.50 0.80 19.00 SHAFT
AND 244.15 245.60 1.45 13.20 SHAFT
AND 245.60 246.30 0.70 57.80 SHAFT
AND 246.30 247.20 0.90 27.50 SHAFT
AND 247.20 248.00 0.80 27.10 SHAFT
AND 248.00 248.65 0.65 12.80 SHAFT
IM-17-101 324.65 336.40 11.75 7.60 SHAFT
INCLUDING 324.65 325.50 0.85 28.20 SHAFT
AND 330.50 331.90 1.40 38.70 SHAFT
AND 335.90 336.40 0.50 14.20 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. MC = Mosquito Creek, SHAFT = Shaft Zone.

Table 2: Drillhole Collar Orientations:

HOLE-ID AZIMUTH DIP
IM-17-086 139.50 -43.20
IM-17-087 138.60 -65.10
IM-17-088 137.00 -43.50
IM-17-089 140.50 -50.20
IM-17-090 137.00 -64.00
IM-17-092 142.50 -45.60
IM-17-093 139.50 -43.20
IM-17-094 139.40 -45.40
IM-17-095 141.20 -63.50
IM-17-099 142.40 -45.40
IM-17-101 145.60 -64.40