Barkerville Announces Restricted Share Unit Grants

TORONTO, Dec. 29, 2017 (GLOBE NEWSWIRE) -- Barkerville Gold Mines Ltd. (TSXV:BGM) ("Barkerville" or the "Corporation") announces today that it has granted an aggregate total of 800,000 Restricted Share Units ("RSUs"), subject to regulatory approval, to certain eligible participants under the Company's Restricted Share Unit Plan. The full text of the Restricted Share Unit Plan is available on SEDAR at www.sedar.com. The RSUs will vest immediately and convert into common shares ("Common Shares") of the Corporation at a fair market value of $0.75 per Common Share, being the closing price of the Common Shares on the date of the grant.

About Barkerville Gold Mines Ltd.

The Corporation is focused on developing its extensive land package located in the historical Cariboo Mining District of central British Columbia. Barkerville's mineral tenures cover 2,110 square kilometres along a strike length of 67 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 material milled producing 25,464 ounces of gold. The Corporation has completed several drilling and exploration programs over the past 20 years and has compiled this data with all historical information in order develop geologic models, which are assisting management in defining new deposits in the Cariboo Gold Project. An extensive drill program is currently underway with the goal of delineating additional high grade gold mineralization.

For more information on Barkerville Gold Mines Ltd., please contact:

Chris Lodder
President and Chief Executive Officer
155 University Avenue, Suite 1410
Toronto, Ontario, Canada
clodder@barkervillegold.com

Cautionary Statement on Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. 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. Although the Corporation 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 Corporation 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.

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.