Barkerville Gold Mines Intersects 30.98 G/T (0.90 Oz/T) Au Over 6.80 Metres in Cow Mountain Phase I Drilling - New Gold Extension Discovered

VANCOUVER, BC / TheNewswire / June 29, 2016 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "BGM") is pleased to announce results from the Phase I drilling program on Cow Mountain at the Company's Cariboo Gold Project (CGP). The results of these drillholes are presented in Table 1. A drillhole location plan map and a longitudinal section are offered at the end of this release.

Drilling Highlights:

-BGM-16-280: 12.51 g/t (0.36 oz/t) Au over 9.70 metres including 17.95 g/t (0.52 oz/t) Au over 1.50 metres and 98.50 g/t (2.87 oz/t) Au over 0.87 metres

-BGM-16-298: 30.98 g/t (0.90 oz/t) Au over 6.80 metres including 52.94 g/t (1.54 oz/t) Au over 3.60 metres including 144.50 g/t (4.21 oz/t) Au over 1.10 metres and 15.85 g/t (0.46 oz/t) Au over 1.00 metres

-BGM-16-307: 34.79 g/t (1.01 oz/t) Au over 5.00 metres including 113.00 g/t (3.30 oz/t) Au over 1.10 metres and 42.60 g/t (1.24 oz/t) Au over 1.10 metres

-BGM-16-315: 28.40 g/t (0.83 oz/t) Au over 3.00 metres including 70.10 g/t (2.04 oz/t) Au over 1.20 metres

-BGM-16-326: 31.67 g/t (0.92 oz/t) Au over 2.90 metres including 11.40 g/t (0.33 oz/t) Au over 0.50 metres including 112.50 g/t (3.28 oz/t) Au over 0.70 metres

-BGM-16-333: 10.62 g/t (0.31 oz/t) Au over 9.30 metres including 23.78 g/t (0.69 oz/t) Au over 2.90 metres including 42.40 g/t (1.24 oz/t) Au over 1.00 metres and 29.70 g/t (0.87 oz/t) Au over 0.70 metres

-BGM-16-347: 119.69 g/t (3.49 oz/t) Au over 2.55 metres including 216.93 g/t (6.33 oz/t) Au over 1.40 metres including 317.00 g/t (9.25 oz/t) Au over 0.90 metres

-BGM-16-349: 21.41 g/t (0.62 oz/t) Au over 5.90 metres including 50.90 g/t (1.48 oz/t) Au over 1.50 metres including 71.10 g/t (2.07 oz/t) Au over 0.70 metres

-BGM-16-352: 28.45 g/t (0.83 oz/t) Au over 5.00 metres including 44.05 g/t (1.28 oz/t) Au over 3.00 metres including 43.50 g/t (1.27 oz/t) Au over 1.50 metres and 44.60 g/t (1.30 oz/t) Au over 1.50 metres

-BGM-16-359: 22.84 g/t (0.67 oz/t) Au over 8.05 metres including 53.57 g/t (1.56 oz/t) Au over 2.65 metres including 66.20 g/t (1.93 oz/t) Au over 1.45 metres and 38.30 g/t (1.12 oz/t) Au over 1.20 metres

Note: Reported core lengths represent 50-75% true widths.

Phase I Drilling

The initial 30,000 metre (18,452 metres completed), Phase I drilling program on Cow Mountain was exclusively intended to upgrade areas of geological uncertainty and secondly to augment the geological model in areas that were entirely devoid of historical drilling. The Pinkerton, Sanders, Rainbow
and No. 1 Zones have been drilled in the near surface by previous operators at a sufficient hole spacing as to demonstrate a high degree of geological confidence and as such were not the focus of this first drilling campaign. In total, 101 drillholes have been completed to date on approximately 50 metre centres throughout select areas of Cow Mountain.

New High Grade Gold Extension Discovered

A previously undeveloped and unexplored area of gold-bearing quartz veins hosted between the Sanders and Rainbow Zones at approximately 250 metres vertical depth below surface has been identified during the Phase I program:

-BGM-15-325 9.70 g/t (0.28 oz/t) Au over 7.35 metres including 28.50 g/t (0.83 oz/t) Au over 0.50 metres and 9.60 g/t (0.28 oz/t) Au over 0.50 metres and 44.60 g/t (1.30 oz/t) Au over 1.00 metres

-BGM-16-326 31.67 g/t (0.92 oz/t) Au over 2.90 metres including 11.40 g/t (0.33 oz/t) Au over 0.50 metres and 112.50 g/t (3.28 oz/t) Au over 0.70 metres

-BGM-16-340 5.70 g/t (0.17 oz/t) Au over 10.00 metres including 12.70 g/t (0.37 oz/t) Au over 3.40 metres and 30.30 g/t (0.88 oz/t) Au over 0.50 metres and 18.50 g/t (0.54 oz/t) Au over 0.50 metres and 14.70 g/t (0.43 oz/t) Au over 0.50 metres

-BGM-16-361 6.46 g/t (0.19 oz/t) Au over 12.70 metres including 20.94 g/t (0.61 oz/t) Au over 2.40 metres including 20.20 g/t (0.59 oz/t) Au over 0.70 metres and 47.50 g/t (1.39 oz/t) Au over 0.70 metres

Note: Reported core lengths represent 50-75% true widths.

Drilling in this new extension has now defined a corridor of auriferous quartz veins with a strike length of approximately 140 metres and was targeted because of a scarcity of historical drilling in this location. These new mineralized vein sets are untested at depth and also along strike to the northwest and have only been drilled on widely spaced 50 metre centres.

Current Status

With three drill rigs on Cow Mountain, the budgeted 30,000 metre Phase I campaign is continuing and preferentially concentrated on optimizing the continuity of gold mineralization in the near surface.

Mr. Chris Lodder, President of the Company noted, "The results to date from the Phase I program that targeted areas that lacked any historical drillholes is very positive. Not only have we identified a new mineralized extension with high exploration potential that is untested at depth, but we have also added additional gold mineralization across the extents of Cow Mountain".

Qualified Persons

Exploration activities at the Cariboo Gold Project are jointly administered on site by the Company's Project Managers Maggie Layman, P.Geo. and Wanda Carter, 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 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
Paul Geddes, P.Geo, Vice President Exploration of the Company.

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 5ppb and upper limit of 10,000ppb. Samples with gold assays greater than 10,000ppb are re-analyzed using 50g fire assay with gravimetric finish, as well as 1,000g screen metallic fire assay. 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 Limited please contact:

Tom Obradovich

Chief Executive Officer

(416) 361-2511

tobradovich@barkervillegold.com

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. BGM's mineral tenures cover 1,164 square kilometres along a strike length of 60 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 BGM 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 ore milled producing 25,464 ounces of gold. BGM has completed a number of drilling and exploration programs over the past 20 years and is currently compiling this data with all historical information in order develop geologic models which will assist new management and provide the framework to continue to explore 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 drillholes BGM-16-261 through BGM-16-361:

Notes:

1. (1)Core lengths represent 50-75% true widths. Rock not recovered by drilling was assigned zero grade and not included in the composites. Top cuts have not been applied to high grade assays. Conversion factor: 1.0 oz/t = 34.2857 g/t.
2. (2)NSA - No Significant Assays.

Table 2: Drillhole Collar Orientations

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