Barkerville Gold Mines Ltd.

Barkerville Gold Mines Ltd.

April 23, 2012 20:35 ET

Barkerville Announces Resignations and Appointment

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2012) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") announces that it has recently received and accepted the resignations from each of Craig D. Thomas, as a director of the Company, and from Jack H. L. Miller, as the Chief Executive Officer of the Company.

The Company also announces that J. Frank Callaghan, the current President and a director of the Company, has now been appointed as the Company's Chief Executive Officer to replace Mr. Miller.

The Board of Directors of the Company would like to thank Messrs. Thomas and Miller for their contributions to the Company and wishes them well in their future endeavours.

About Barkerville Gold Mines Ltd.

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 now cover over 117,691.14 hectares, encompassing seven past producing hard rock mines and three NI 43-101 gold projects, including the QR Mine & Mill. 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 kilometers 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. In November 2010, the Company and the Lhtako Dene First Nation also signed a Project Agreement in relation to its Bonanza Ledge and Cariboo Gold Projects. On December 5, 2011, the Company received, under the British Columbia Mines Act, a Mine Permit approving the Mine Plan and Reclamation Program for Bonanza Ledge. The Company has completed significant drilling and exploration programs and, together with its historical data, is compiling all information to determine geologic models and update mineral resource estimates to continue with exploration and development of the Cariboo Gold Projects.

On behalf of the Board of Directors

Frank Callaghan, President and Chief Executive Officer

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events and conditions and therefore involve inherent risks and uncertainties. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our industry, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward looking statements to conform these statements to actual results. All phases of the Company's operations are subject to environmental regulation and governmental approval and permits and there can be no assurance that the Company will obtain all the requisite permits for future development. Mining is an inherently risky business with large capital expenditures and cyclical metals markets.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Barkerville Gold Mines Ltd.
    Frank Callaghan
    President and Chief Executive Officer
    604 669-6463 or Toll Free: 1-800-663-9688
    604 669-3041 (FAX)