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Barkerville Gold Mines Ltd.

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  Suite 400 - 365 Bay Street
Toronto, Ontario
Canada M5H 2V1
Tel No.: 416-775-3671
Toll Free No.: 1-888-222-1442
Web Site: www.barkervillegold.com
E-mail: skelly@barkervillegold.com
Contact Person: Scott Kelly (Tel: 416-504-4173)
Position: Investor Relations


Company Data

Traded Market: TSX-V
Traded Symbol: BGM
Outstanding Shares: 302,865,657
52 Week High: $ 0.76
52 Week Low: $ 0.215
Present Price: Click Here


Introduction

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Barkerville Gold Mines Ltd. is engaged in the exploration and production of precious metals from mineral tenures located in the Cariboo Mining District in east-central British Columbia.

The Cariboo Gold Belt has had a rich and extensive history starting with the discovery of placer gold in the 1860’s. Recorded production from the Company’s property and surrounding area is approximately 3.2 million ounces of placer gold and 1.3 million ounces of lode gold averaging 0.40 oz/t gold from mainly mesothermal quartz vein mineralization, and 0.60 oz/t from sulphide replacement style mineralization. Mining of these deposits took place during the periods 1933 to 1967 and 1983 to 1987.

Barkerville Gold Mines has attracted approximately $55 million in new investment since the beginning of 2015 and now has a technically and financially supportive major shareholder base consisting of Eric Sprott (19%), Osisko Mining (17%) and Osisko Gold Royalties (16%).

Business Plan

The Vision: Build a sustainable, low impact, high return, gold mining company in British Columbia’s historic Cariboo Mining District

Short Term Goal: Production from Bonanza Ledge and BC Vein from 2017 – 2021

Primary Objective: Define an economic resource and reserve base which allows production growth and a new on site processing facility from 2021 onwards


Projects in Hand

Cariboo Gold Project, Central British Columbia

Barkerville Gold presently controls 211,900 hectares (2,119 sq. km) of mineral tenures, including three historic groups of contiguous Crown-Granted mineral claims, namely the Cariboo Gold Quartz Group, Island Mountain Group, and Mosquito Creek Group. This large block of contiguous mineral tenures is roughly centered around the town of Wells, which is located approximately 85 km east of Quesnel, British Columbia. This contiguous block represents about 75% of the complete mineral tenures package.

The Company's QR Mine & Mill are located approximately 58 km southeast of Quesnel, on a separate group of mineral tenures. Outside of these areas, the Company has a further 5 blocks of mineral tenures located in and around these two areas. The mineral tenures encompass seven past producing hard rock mines, including the QR Mine & Mill.

Cariboo Gold Project

  • 2,119 sq. km of minerals rights
  • Fully permitted mill and tailings facility
  • Jurassic aged mesothermal veins and replacement deposits
  • 95% controlled by BGM
  • 6 historic lode mines produced 1.3 million ounces
  • 3.2 million ounces of recorded alluvial gold production from 101 streams

Principal Project Area

6 km of 67 km

  • Three Past Producers – 1.3 million ounces
    • Camp grade average 0.41 oz/t
    • Aurum Mine – 0.57 million ounces 1934 – 1967
    • Caribou Gold Quartz Mine – 0.63 million ounces 1933 – 1959
    • Mosquito Creek Mine – 0.03 million ounces 1980 – 1987
    • Bonanza Ledge – 0.03 million ounces 2014 – 2015
    • Jurassic aged mesothermal vein and replacement deposits

Barkerville Mountain

  • ~50,000 metres of drilling completed since Q3 2015
  • Expand and convert higher grade zones to Reserves in 2017 and 2018
  • Open along strike and depth
  • Short term feed to supplement Bonanza Ledge
  • Bonanza Ledge: Replacement mineralization in calcareous metasiltstone
  • BC Vein: Shear / Fault hosted mesothermal vein

Bonanza Ledge Mine

  • Wholly underground operation
  • Contract mining
  • Ore trucked to QR Mill
  • Long hole and cemented rock fill
  • ~500 TPD – 150,000 T/yr
  • Initial Life of Mine ~2 years
  • ~30K to 40K oz/yr
  • ~300,000 tonnes at ~7.0 g/t Au
  • Initial capital C$ 7M

Cow Mountain

  • Approximately 32,000 metres of shallow drilling complete in 2016
  • Approximately 56,000 metres of historical core re-logged
  • Program designed to upgrade near surface areas of low confidence and selectively replace some historic drilling
  • Historical Production
    • 1933 – 1959 Cariboo Gold Quartz Mine
    • 1,681,951 T at 0.37 oz/T – 626,755 oz

Island Mountain

  • 20,000 metre Phase I drilling in progress
    • DDH BGM-16-527 returned 10.34 g/t Au over 11.50 metres (including 14.52 g/t Au over 7.60 metres)
  • Vein and replacement style mineralization
  • Last drilling campaign 2004
  • Disjointed lands prohibited exploration and development

Greenfields Exploration

  • Regional soil sampling, prospecting and airborne magnetic and VTEM survey completed in 2016
  • 131 new targets identified
  • Related to a 60 km regional deformation – alteration zone
  • Limited historic systematic exploration due to fragmented land position

Operational Objectives

  • Complete a feasibility based on new resources from Cow, Island and Barkerville Mountains by end of 2018 that justifies an on site milling facility
  • Maintain production from QR Mill at a minimum 150,000 TPA (30,000 oz Au) from 2017 to 2021
  • Work with exploration team and prioritize new targets for follow up

Investment Highlights

  • Experienced Leadership
  • Financially and Technically Supportive Major Shareholders Base
  • Sustainable - Low Impact – High-Margin Mining
  • Strong Socio-Economic Benefits
  • Focused and Disciplined Exploration on High Quality Targets


Management

Management and Directors

Chris Lodder, President & CEO, Director

Over 25 years of greenfield and brownfield exploration

President of Talisker Exploration Services, former Exploration Manager for the Americas for AngloGold Ashanti

Talisker team responsible for 28 million ounces in 3 greenfield discoveries

Paul Geddes, P.Geo., QP, Vice President of Exploration

Noranda Mining and Exploration Ltd., Teck Exploration Ltd.

100% increase in global gold resources for Rainy River prior to the company’s takeover by New Gold in October 2013.

Luc Lessard, P.Eng., Chief Operating Officer

25 years of experience designing, building and operating mines

Presently CEO and Director of Falco Resources, Senior Vice-President, Technical Services of Osisko Gold Royalties, and sits on the board of directors of Highland Copper and Bowmore Exploration.

Chris Pharness, Vice President of Environment and Sustainability

Environmental professional with strong background in environmental management and mitigation on north central BC

Responsible for government, community and first nations relations

Andres Tinajero, CPA, MBA, ICD.D, Chief Financial Officer

Over 20 years of financial and risk management of public companies across North America. He has supported a broad range of industries including: natural resources, manufacturing and technology.

Sean Roosen, Co-Chairman

Greg Gibson, Co-Chairman

Thomas Obradovich, Director

Anthony Makuch, Director

Morris Prychidny, Director

John Kutkevicius, Director

Allan Folk, Director

Ian Gordon, Director

Please refer to Barkerville Gold's website www.barkervillegold.com for complete biographies.


News Update

On December 7, 2016, Barkerville Gold Mines Ltd. announced that it has granted an aggregate of 9.8 million options to purchase common shares of the Company exercisable at a price of 46.75 cents per share for a period of five years, to certain directors, officers and employees of the Company.

On November 22, 2016, Barkerville Gold Mines Ltd. announced that it has arranged a private placement to raise aggregate gross proceeds of up to $10.07-million. The offering will consist of the sale of up to 13.4 million flow-through common shares of the Company at a price of 60 cents per tranche A flow-through share and the sale of up to 3.5 million flow-through common shares of the Company at a price of 58 cents per tranche B flow-through share.


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