Barkerville Gold Completes Bonanza Ledge Bulk Sample

VANCOUVER, BC - Barkerville Gold Mines Ltd. reported key results from its recently completed phase 1 test pit at the Bonanza Ledge deposit.

Phase 1 test mining at the Bonanza Ledge open pit has been completed and continued to demonstrate improved grades with depth. Milling and refining took place at the Company's QR mill near Quesnel, BC. During 2015, the mill processed 28,936 tonnes with a head grade of 12.55 g/tonne giving recoveries of 95.6% resulting in 11,162 ounces poured. In 2014 the tonnage processed was 62,298 at a head grade of 6.85 g/tonne with recoveries of 91.6% and 12,564 ounces poured. The totals for the Bonanza Ledge phase 1 test pit are: 91,234 tonnes processed at a head grade of 8.66 g/tonne, yielding 23,726 ounces and a total recovery of 93.4%. As a result, BGM has reduced its debt by approximately CDN$12,000,000 to date in 2015. Further mill cleanup may result in additional ounces recovered and added at a future date. BGM continues to build an exploration and development plan based on primary ore and mineralizing controls from first principles in keeping with management's previously stated goals. This undertaking has commenced under the direction of Paul Geddes, VP Exploration and includes compilation of all available historical underground and production data. A series of smaller scale, high grade, low capex operations will be of prime consideration to the current team and is well within the new management's areas of expertise, experience and proficiency. Additionally, an assessment of BGM's extensive landholdings and external assets will also be made in order to extract value and maintain focus. Chip, muck and mill samples are assayed on site in the Company's assay lab using the fire assay method with an AA and gravimetric finish. The Company's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs. Since the mid-1990s the Company has focused on exploration and development of gold projects in the Cariboo Mining District in central B.C. The Company's mineral tenures cover 1,164 km2 along a strike length of 60 km and approximate width of 20 km, including the Cariboo Gold Project, the Bonanza Ledge Gold Project, the Barkerville Mountain and Island Mountain exploration targets and seven past producing hard rock mines. The QR Property was acquired in February 2010 and includes a 900 tonne/day gold milling facility and a permitted gold mine located approximately 110 km by highway and all-weather road from the Barkerville Gold Camp. In November 2010, the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C.