Oct 19, 2012
Vancouver, BC -- Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") wishes to update its shareholders on the status of its response to the cease trade order (the "CTO") issued by the British Columbia Securities Commission (the "BCSC") as disclosed in the Company's press release dated August 15, 2012.
The Company is advised that the CTO will remain in place until the Company files a technical report acceptable to the BCSC and addresses all technical disclosure concerns.
Further to the News Release of June 6, 2012, (see News Release 12-011) the Company confirms that it has recently engaged Snowden Mining Industry Consultants Pty ("Snowden") to assist the Company in satisfying the conditions of the CTO, and continues to have a dialogue with the BCSC in an effort to satisfy their concerns.
As part of the technical review requested by Snowden, the Company advises that it has completed 14 surface diamond drill holes of which 9 were completed twin holes totaling 2,759.4 meters (9,053.1 feet) on Cow Mountain at the Cariboo Gold Project near Wells, central BC between September 22 and October 14, 2012. The total footage includes 5 drill holes abandoned due to hitting shafts and/or underground workings before target. The drilling was done respectively by four drill rigs of three drill contractors; namely, Standard Drilling & Engineering Ltd. of Vancouver, B.C. (two drill rigs); Armstrong Drilling Ltd. of Armstrong, B.C. (one drill rig); and Lone Peak Drilling of Kimberley, B.C. (one drill rig). All the drill holes are being logged, sampled including measuring bulk density of the drill core. Assay results of these drill holes will be released when available.