Barkerville Gold Mines : BGM INTERSECTS 29.20 G/T AU OVER 5.55 METRES AT SHAFT ZONE

ISLAND MOUNTAIN ALSO YEILDS 16.38 G/T AU OVER 5.80 METRES

TORONTO, ON - January 9, 2018 - Barkerville Gold Mines Ltd. (TSXV: BGM) (the 'Company' or 'Barkerville') is pleased to announce additional drilling results from the 2017 Phase II Island Mountain exploration and infill drilling program at the Company's flagship Cariboo Gold Project. The Company is currently exploring and delineating the Shaft Zone with five drill rigs. Detailed drilling results, a drill hole location plan map and vertical sections are presented at the end of this release. The exact geometry and hence true width of the mineralized zones cannot be assuredly concluded at this time therefore core lengths are reported.

Drilling Highlights

• IM-17-196: 16.38 g/t Au over 5.80 meters
• IM-17-198: 5.20 g/t Au over 6.25 meters
• IM-17-202: 29.20 g/t Au over 5.55 meters
• IM-17-205: 8.21 g/t Au over 4.85 meters

Continued Expansion of Vein Corridors

The Company is pleased to report mineralization expansion from the ongoing drilling at Shaft Zone. Phase II drillhole IM-17-196 intersected 16.38 g/t Au over 5.80 meters at a vertical depth 380 meters below surface. This new intersection is open along strike to the north east. Previously reported hole IM-17-146 is located 35 meters to the south west and averaged 17.45 g/t Au over 8.60 meters. Further up-hole at a vertical depth of 175 meters, IM-17-196 also intersected 6.63 g/t Au over 4.40 meters and correlates with previously reported hole IM-17-115 that graded 10.14 g/t Au over 4.00 meters.

On the north-western extents of the Shaft Zone, drillhole IM-17-202 intersected a well mineralized vein zone grading 29.20 g/t Au over 5.55 meters at a vertical depth of 85 meters from surface. Drilling in this area is sparse and the closest intersection is previously reported drillhole IM-17-030, 135 meters down dip and assayed 9.35 g/t Au over 1.00 meters. This new intersection warrants additional drilling is in this area.

Shaft Zone - Corridors Discussion

The sandstone hosted veining which constitutes the newly named Alpha, Beta and Gamma Corridors of the Shaft Zone are manifested as an anastomosing network of high vein density with an overall sub-vertical dip and northeast strike. Based upon drilling results to date, estimated horizontal widths of the corridors are variable and range from 5 to 35 metres. These corridors, as well as others that are developing in the Shaft and Valley Zones have been defined from surface to a vertical depth of 600 metres and remain open for expansion to depth and down plunge. Drillhole spacing in the corridors currently averages 25 metres between drilling sections with vertical drilling separations ranging from 20 to 75 metres with hole spacing increasing to depth. Gold grades are intimately associated with vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.

Qualified Persons

Exploration activities at the Cariboo Gold Project are administered on site by the Company's Exploration Manager, Maggie Layman, 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 the Company's Qualified Person, 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 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of 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

155 University Avenue, Suite 1440

Toronto, Ontario, Canada

[e-mail]

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 1,950 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 Company 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.

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 Shaft Zone Phase II drillholes:

HOLE-ID	FROM (M)	TO (M)	CORE LENGTH (M)	AU (G/T)
IM-17-190	32.00	32.60	0.60	5.16
IM-17-190	232.00	232.50	0.50	6.29
IM-17-190	252.70	254.20	1.50	11.94
INCLUDING	253.50	254.20	0.70	15.15
IM-17-190	528.60	529.20	0.60	9.05
IM-17-190	535.90	542.60	6.70	11.08
INCLUDING	535.90	536.90	1.00	18.20
AND	538.85	539.95	1.10	41.70
AND	540.85	541.40	0.55	10.40
IM-17-190	547.70	548.20	0.50	33.40
IM-17-190	655.40	656.55	1.15	42.17
INCLUDING	655.40	655.95	0.55	82.60
IM-17-192	30.60	33.60	3.00	5.50
INCLUDING	30.60	31.85	1.25	6.61
AND	33.00	33.60	0.60	11.45
IM-17-192	35.00	38.00	3.00	5.94
INCLUDING	35.90	37.00	1.10	8.75
IM-17-192	35.00	37.00	2.00	8.87
INCLUDING	309.65	310.15	0.50	17.75
IM-17-193	122.20	122.90	0.70	10.30
IM-17-193	147.35	149.50	2.15	9.03
INCLUDING	147.35	148.20	0.85	17.55
AND	149.00	149.50	0.50	8.90
IM-17-193	160.50	161.00	0.50	9.78
IM-17-195				ASSAYS PENDING
IM-17-196	232.90	233.50	0.60	9.11
IM-17-196	244.70	248.90	4.20	5.32
INCLUDING	244.70	246.00	1.30	9.13
AND	248.40	248.90	0.50	14.20
IM-17-196	255.20	259.60	4.40	6.63
INCLUDING	256.00	256.70	0.70	7.18
AND	259.00	259.60	0.60	31.70
IM-17-196	266.50	268.00	1.50	13.09
INCLUDING	267.50	268.00	0.50	30.20
IM-17-196	452.30	458.10	5.80	16.38
INCLUDING	453.20	453.75	0.55	73.40
AND	456.55	457.45	0.90	44.40
IM-17-196	485.25	491.30	6.05	4.76
INCLUDING	485.75	486.30	0.55	14.65
AND	489.60	490.10	0.50	10.30
AND	490.70	491.30	0.60	16.40
IM-17-197	148.80	149.30	0.50	4.80
IM-17-197	176.90	177.60	0.70	5.70
IM-17-197	189.00	189.70	0.70	4.39
IM-17-197	211.40	212.30	0.90	6.32
IM-17-197	330.00	330.50	0.50	6.15
IM-17-197	336.00	336.50	0.50	11.85
IM-17-197	350.20	353.70	3.50	13.37
INCLUDING	350.20	350.85	0.65	34.90
AND	351.85	352.90	1.05	20.20
IM-17-197	384.10	387.65	3.55	11.22
INCLUDING	386.00	386.50	0.50	20.30
AND	386.50	387.00	0.50	31.10
AND	387.00	387.65	0.65	14.05
IM-17-197	411.50	412.10	0.60	5.83
IM-17-198	160.00	161.00	1.00	27.50
IM-17-198	200.20	201.25	1.05	4.36
INCLUDING	200.70	201.25	0.55	5.54
IM-17-198	211.50	217.75	6.25	5.20
INCLUDING	212.00	212.50	0.50	5.39
AND	214.70	215.40	0.70	5.98
AND	216.40	217.20	0.80	23.00
IM-17-198	222.25	223.45	1.20	10.15
IM-17-198	226.60	227.50	0.90	12.25
IM-17-198	359.40	360.00	0.60	16.60
IM-17-198	369.95	370.55	0.60	5.33
IM-17-199	169.75	170.45	0.70	4.68
IM-17-199	305.50	306.00	0.50	11.00
IM-17-199	457.65	459.35	1.70	21.14
INCLUDING	457.65	458.85	1.20	13.15
AND	458.85	459.35	0.50	40.30
IM-17-199	518.00	519.80	1.80	6.40
INCLUDING	518.00	519.00	1.00	8.24
IM-17-199	533.00	533.50	0.50	8.94
IM-17-199	618.20	618.70	0.50	5.62
IM-17-199	684.75	686.15	1.40	5.71
IM-17-199	707.10	709.05	1.95	10.11
INCLUDING	707.10	707.60	0.50	17.30
IM-17-200				ASSAYS PENDING
IM-17-201				ASSAYS PENDING
IM-17-202	114.70	120.25	5.55	29.20
INCLUDING	116.40	117.00	0.60	41.40
AND	117.00	118.00	1.00	67.40
IM-17-202	326.80	331.00	4.20	3.49
INCLUDING	326.80	327.40	0.60	16.50
IM-17-202	374.20	374.90	0.70	40.80
IM-17-202	378.95	379.60	0.65	14.40
IM-17-203	82.75	83.30	0.55	105.00
IM-17-204				ASSAYS PENDING
IM-17-205	30.60	35.45	4.85	8.21
INCLUDING	30.60	31.65	1.05	5.47
AND	32.95	33.90	0.95	8.02
AND	33.90	34.40	0.50	45.50
IM-17-205	120.00	121.80	1.80	6.09
IM-17-205	146.45	147.40	0.95	6.63
IM-17-205	148.00	148.50	0.50	35.20
IM-17-205	158.40	159.00	0.60	6.09
IM-17-205	170.15	170.65	0.50	109.50
IM-17-206	106.00	106.70	0.70	70.80
IM-17-207	9.00	10.25	1.25	11.85
IM-17-207	105.00	105.70	0.70	9.24
IM-17-207	184.10	184.90	0.80	16.00
IM-17-207	196.00	197.30	1.30	6.61
IM-17-207	221.20	224.40	3.20	16.75
INCLUDING	223.35	224.40	1.05	47.70
IM-17-207	254.00	255.00	1.00	4.78
IM-17-207	270.00	270.75	0.75	19.75
IM-17-208	138.50	140.10	1.60	3.69
IM-17-208	344.50	345.70	1.20	62.20
IM-17-208	355.50	356.40	0.90	4.57
IM-17-208	363.80	364.50	0.70	26.30
IM-17-209				ASSAYS PENDING
IM-17-210	46.25	46.75	0.50	15.35
IM-17-210	236.25	236.85	0.60	67.60
IM-17-210	326.15	328.00	1.85	9.43
INCLUDING	326.65	327.15	0.50	23.50
IM-17-210	401.10	401.60	0.50	6.42
IM-17-210	472.00	473.00	1.00	5.30
IM-17-210	480.50	481.45	0.95	6.13
IM-17-210	527.50	532.45	4.95	3.70
INCLUDING	531.45	532.45	1.00	7.99
IM-17-211	90.85	91.85	1.00	8.52
INCLUDING	91.35	91.85	0.50	12.40
IM-17-211	125.00	126.00	1.00	24.10
IM-17-211	184.80	185.30	0.50	9.09
IM-17-211	189.75	191.80	2.05	16.90
IM-17-211	226.00	227.00	1.00	5.43
IM-17-212				ASSAYS PENDING
IM-17-213				ASSAYS PENDING
IM-17-214	48.00	48.50	0.50	21.40
IM-17-214	58.50	59.30	0.80	12.05
IM-17-214	79.80	81.00	1.20	4.84
IM-17-214	271.50	272.00	0.50	20.60
IM-17-214	322.10	324.00	1.90	5.30
IM-17-214	323.30	324.00	0.70	8.98

True widths cannot be accurately determined from the information available therefore core lengths are reported. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays.

Table 2: Drillhole Collar Orientations:

HOLE-ID	AZIMUTH	DIP
IM-17-190	132.4	-45.8
IM-17-193	139.3	-66.7
IM-17-196	139.0	-61.6
IM-17-197	140.8	-49.3
IM-17-198	141.5	-64.4
IM-17-199	132.8	-59.9
IM-17-202	141.2	-44.0
IM-17-203	141.8	-62.5
IM-17-205	136.2	-65.2
IM-17-206	139.6	-44.5
IM-17-207	141.9	-65.6
IM-17-208	142.4	-45.0
IM-17-210	140.5	-43.4
IM-17-211	138.7	-63.3
IM-17-214	137.6	-64.2