Barkerville Gold Mines : Intersects 14.59 g/t Au over 10 Metres

September 27th, 2016

Completes Phase I Drilling at Cow Mountain

VANCOUVER, BC- September 27, 2016 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the 'Company' or 'Barkerville') is pleased to announce the final results from the recently completed Phase I exploration and category conversion drilling program on Cow Mountain at the Company's flagship Cariboo Gold Project (CGP). Significant results are presented at the end of this press release in Table 1. Drill hole locations are shown on a map and longitudinal section presented on the Company's website at www.barkervillegold.com.

Highlights of the new drill results include: 14.59 g/t Au over 10.00 metres (including 27.19 g/t Au over 4.80 metres) and 30.56 g/t Au over 3.00 metres (including 109.50 g/t Au over 0.80 metres) in DDH BGM-16-495; 56.41 g/t Au over 1.50 metres in DDH BGM-16-500; 20.92 g/t Au over 3.00 metres (including 55.50 g/t Au over 1.10 metres) in DDH BGM-16-493; 18.70 g/t Au over 1.50 metres and 57.50 g/t Au over 0.90 metres in DDH BGM-16-481; and 15.01 g/t Au over 4.55 metres (including 51.00 g/t Au over 1.25 metres) in DDH BGM-16-463.

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

Cow Mountain Phase I Drilling Completed

Consistent with the Company's plan to optimize a new, geologically constrained gold resource at
Cow Mountain potentially amenable to open pit and underground mining methods, 242 drill holes totaling 32,290 metres have now been completed in the 2016 Phase I drilling program. Phase I drilling targeted areas of geological and grade uncertainty (defined by historical gold intersections that could not be sufficiently validated to meet CIM best practice standards for future resource considerations). In parallel with this program, 56,000 metres of historical drill core was also re-logged for the purposes of standardizing a new geological model that will be used to constrain future resource estimations.

Island Mountain Phase I Drilling Update

With this initial phase of Cow Mountain drilling now completed, three drill rigs have been mobilized to Island Mountain and are currently performing a first pass, 20,000 metre Phase I drilling program. The vein style of gold mineralization that dominates on Cow Mountain also occurs on Island Mountain but was never the primary focus of exploration or past development because of the incidence of higher grade massive sulphide replacement style ore bodies. The 2016 Phase I program is designed to determine the location and extent of these vein systems, as well as test the down plunge extensions of the replacement bodies in areas that have not been drilled.

Chris Lodder, President and CEO of Barkerville remarked: 'We are very pleased with the results of drilling on the project to date. The drill results from Cow Mountain combined with the ongoing exploration drilling and underground mapping programs on Island Mountain, Barkerville Mountain and the recently acquired Williams Creek property, are giving us confidence to continue with our aggressive drill program which when completed will be the basis for a new combined resource estimate for the central part of Barkerville's Cariboo Gold Project.'

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 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.

Table 1: Length weighted gold composites for drillholes BGM-16-463 through BGM-16-502:

Notes:

*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.
NSA - No Significant Assays.

Table 2: Drillhole Collar Orientations

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