Barkerville Gold Mines Ltd.
TSX VENTURE : BGM
FRANKFURT : IWUB

Barkerville Gold Mines Ltd.

June 19, 2012 14:02 ET

Barkerville Gold Mines Ltd.: Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2012) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) (the "Company") announces that, pursuant to its Incentive Stock Option Plan, it has granted 250,000 incentive stock options to Norman Anderson in connection with his appointment to the Company's board of directors. The options are exercisable at a price of $0.50 per share for a period of five years from the date of grant.

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 deposits, 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. Mining operations commenced at QR in the first quarter of fiscal 2011 and the Company began pouring doré gold in September 2010 and continued until December 2011. In November 2010 the Company acquired a second permitted mill currently on care and maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject to all necessary government approvals. 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, their Mine Permit approving the Mine Plan and Reclamation Program for Bonanza Ledge. The Company is awaiting permits to mill ore from Bonanza Ledge at the QR Mine facility. The Company has completed significant drilling and exploration programs and together with the historical data is compiling all information to determine geologic models and updated technical reports to continue with exploration and development of the Cariboo Gold projects.

On behalf of the Board of Directors

J. Frank Callaghan, President and CEO

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.
    J. Frank Callaghan
    President and CEO
    604-669-6463 or Toll Free: 1-800 663-9688
    604 669-3041 (FAX)
    www.barkervillegold.com