Barkerville Identifies 60 Kilometre Long Gold Bearing Structural Break Coincident with Newly Defined Regional Soil Anomalies and Provides Exploration Update

VANCOUVER, BC / TheNewswire / October 4, 2016, - Barkerville Gold Mines Ltd. (TSXV: BGM) (the "Company" or "Barkerville") is pleased to announce preliminary results from the ongoing regional exploration program and provide an update of exploration activities at the Company's flagship Cariboo Gold Project ("CGP").

Highlights:

• -Surface grab samples include 1,335.00 g/t Au, 199.0 g/t Ag, channel samples include 98.50 g/t Au, 479.00 g/t Ag, over 2.00 metres*

  -Gold bearing Cariboo Break now established over 60 kilometre strike length

  -131 new gold anomalies defined by systematic soils and rock sampling over 43 kilometres of break

  -Additional drill rig to be mobilized to Cariboo Gold Project

* Grab samples are selected samples and as such may not be representative.

2016 Regional Exploration Program Update

The ongoing regional reconnaissance program initiated in May 2016 has delineated a previously unknown 25 kilometer long corridor of multi-station and multi-line auriferous soil anomalies beginning at the newly acquired Williams Creek property and trending southwest along strike to the past producing Cariboo-Hudson Mine. Defined by both the recently acquired geophysical and geochemical data, the width of the mineralized corridors ranges between 150 and 500 metres, which is consistent with the mineralized envelopes on Island, Cow and Barkerville Mountains. To date, 131 new regional targets have been generated by the 2016 program over 43 kilometers of the Cariboo Break. The 2016 regional grassroots exploration program was intended to begin assessment of the larger scale potential of the Cariboo Belt through a combination of systematic grid-based C-horizon soil sampling, geological mapping and prospecting augmented by the regional airborne geophysical data. This systematic form of exploration is planned over another two field seasons to cover the prospective tenements package. Reconnaissance rock sampling of historical showings along the break has confirmed the high gold tenor of the area as outlined in Table 1. A map illustrating the locations of the samples and soil anomalies is presented at the end of this release.

Table 1: 2016 regional channel and grab sample results grading greater than 10.00 g/t gold from historical showings.
Grab samples are selected samples and as such may not be representative. Channel sample lengths represent 50-90% true widths.

The New Cariboo Break

The Company's recently acquired, proprietary high resolution magnetics and electromagnetics survey collected over the entirety of the extensive 2,119 square kilometer Cariboo Gold Project combined with field mapping and sampling, has now conclusively determined the existence and location of the newly named 'Cariboo Break' which has been traced for more than 60 kilometers. The Break is interpreted as a major deep-seated shear which appears to have focused gold mineralization along its length. The Cariboo Break is manifested as a well constrained magnetic depression coincident with the auriferous soil anomalies generated from the 2016 regional exploration program and also the mine trend on Island, Cow and Barkerville Mountains. Historic regional geological mapping and data compilations crudely indicated the existence of the Cariboo Break, but poor outcrop exposure throughout the area precluded an irrefutable, empirical interpretation of its occurrence until now.

Ongoing Regional Work

A mechanical stripping program has been initiated to expose additional outcrop on regional targets as prepatory work for a first phase of regional diamond drilling. Detailed geological mapping and grid-based channel sampling will also be performed to gain additional understanding of the extents and geological controls on the gold mineralization. Permitting of a Phase I regional drilling program is underway.

KL Zone and Williams Creek Drill Mobilization

With the acquisition of Williams Creek Gold Ltd. now complete, the Company will be mobilizing a fourth drill rig to Barkerville Mountain to begin drill testing the eastward strike extension of the KL Zone on 100 metre drill centres. The KL Zone is an occurrence of auriferous quartz veining geologically analogous to the vein mineralization that occurs on Island and Cow Mountains. This area was identified previously by a marked, auriferous soil anomaly and was subsequently exposed by mechanical stripping in 2012 which, when uncovered, revealed an undrilled swarm of sulphide bearing quartz veins. The first pass of 2015 Phase I drilling outlined the horizon over a strike length of 60 metres and to a vertical depth of 120 metres and remains untested along strike and at depth. New and historic soil data defines a very prominent gold, silver and bismuth anomaly that extends eastward for 830 metres starting at the KL Zone, onto the former Williams Creek property.

Phase I Island Mountain Drilling

Three drill rigs are currently operating on Island Mountain as part of the 20,000 metre Phase I exploratory drilling campaign. The 2016 Phase I program is designed to determine the controls and extent of the vein systems, as well as test the down plunge extensions of the replacement bodies in areas that have never been drilled. Drillhole assay results will be made public once available.

Chris Lodder, President and CEO of Barkerville states "The majority of historical exploration and development in the Cariboo Gold Camp was principally focused on the six kilometer mine trend encompassing Island, Cow and Barkerville Mountains which discontinuously from 1933-1987 produced 1.3 Moz of lode gold. Despite an abundance of other small scale past producers and gold occurrences located up to 30 kilometers along strike of these mines, fragmented land positions were prohibitive to any large scale, methodical greenfields exploration programs that would allow full assessment of the area's larger gold potential. The regional work to date is extremely positive and outlines the potential for significant extensions to known mineralization both Southeast and Northwest of the Island Mountain to Bonanza Ledge zone of present exploration drilling. These are exciting times for both Barkerville and shareholders as we rank and drill each of these new targets over the next few years".

Qualified Persons

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 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 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 Ltd. please contact:

Chris Lodder

President & Chief Executive Officer

Suite 400-365 Bay Street

Toronto, Ontario, Canada

clodder@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. Barkerville'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 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 ore milled producing 25,464 ounces of gold. The Company 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.

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