Barkerville Gold Mines Ltd. is a public company traded on the TSX Venture

Exchange (BGM) and on the Frankfurt Stock Exchange (IWUB).  Barkerville (formerly International Wayside Gold Mines) has been focused on the exploration and development of its gold projects in the Historic Cariboo Gold Camp since 1994, terminus of the famous Cariboo Gold Rush.  In the Cariboo Gold Camp, 101 creeks have reported placer gold production.  Recorded gold production from the area totals more than 3.8 million ounces, including an estimated 2.64 million ounces from placer mining and 1.23 million ounces from lode mining. 

Document Download

Jay Taylor Radio Interview - May 18, 2010
The Bilderberg Group. Who are They? What do They Want?
Jay interviews Barkerville Gold President & CEO Frank Callaghan. He updates projects and talks about one of the mines going into production this summer.

100,000 Hectare Mineral Belt Acquired
Barkerville’s mineral tenures in the Historic Cariboo Gold Camp now encompasses more than 100,000 hectares covering the 60 km long by 20 km wide geological belt. The mineral tenures include 7 past producing mines and two of Barkerville’s own proposed open pit mines currently in the permitting process.

Mine & Mill Acquisition and the Start of Mining
On February 2, 2010, Barkerville announced it closed the acquisition of the QR Mine and Mill in exchange for 2 million common shares of Barkerville, plus 500,000 warrants priced at $1.00.  The 900‐tonne‐per‐day QR Mill, which was fully operational until May 2009 (now on care and maintenance), is a carbon-in-pulp (CIP) mill designed for an output of 70,000 ounces of gold per annum for that location. The QR Mill is located 110 kilometers by all‐weather road from Barkerville's Cariboo Gold Project and proposed open pit Bonanza Ledge Mine. 

Kinross Gold Corp. constructed the QR Mill in 1994 at an estimated capital cost exceeding $40 million. Cross Lake Minerals acquired the QR project in 2005 and commenced operations at the QR Mine in 2007, after spending in excess of $34‐million in the preceding 24 months on project acquisition ($4.3‐million), exploration and development ($20‐million) and refurbishing the mill facilities ($10.3‐million). Cross Lake expended an additional $3‐million on asset retirement obligations, including having BC Hydro bring three‐phase power to the project.

On January 11, 2010, Barkerville Gold Mines Ltd. announced that the Company had been advised by 0373849 B.C. Ltd. (formerly Cross Lake Minerals Ltd.) that the permit to mine has been granted for the West zone at the QR mine. In addition, a Pre-Feasibility Study (PFS), National Instrument 43-101 compliant of the West zone at QR mine and mill had been delivered.

The QR Mine PFS, dated Dec. 14, 2009, was carried out by EBA Engineering Consultants Ltd. and several independent professionals and consultants. This updated PFS states: "A positive economic benefit at current gold prices to justify potentially reopening the QR mine and mill. Based on the constraints of this study, EBA Engineering believes that this project is economically viable. Given the current rise in gold prices and the positive economic analysis on the QR project, development and production is recommended based on this study."

On February 2, 2010, Barkerville Gold Mines announced that mining operations had commenced at the QR Mine.  The Company plans to stockpile ore for 60 days (starting in late February) and commence milling once an appropriate stockpile of ore is achieved. 

Near term Gold Production Goal
It is Barkerville’s objective to batch mill material from its proposed open pit Bonanza Ledge Mine at the QR Mill, in addition, the $20 million previously spent in underground mine development by Cross Lake Minerals allows for the recommencement of mining operations at the QR Mine, promptly, with little capital cost.  Upon resumption of the milling operations, it is Barkerville’s initial goal to achieve 50,000 ounces of gold production in the first 12‐month period, combined from both locations.

Extensive Exploration and Expansion Drilling Campaign
At the same time, Barkerville continues with a large drill campaign to further expand gold resources around its current NI43‐101 deposits and will aggressively explore the length of the entire geological trend. To date, Barkerville has completed more than 50,000 meters of drilling, delineating two gold resources and has large, geologically favorable areas yet to be explored.

Projects*

Bonanza Ledge
The proposed open pit Bonanza Ledge Mine, for which the Company received a positive a Pre-Feasibility Study in September of 2009, is a gold deposit on the southwest flank of Barkerville Mountain, about 2 km northwest of the Barkerville Historic Town.  The study, led by EBA Engineering Consultants Ltd., involved the focused efforts of a team of independent qualified persons, professionals and consulting companies. 

The deposit was discovered by Barkerville Gold Mines in 2000 and is a type of gold mineralization that had never before been recognized in the camp. The Pre-Feasibility Study reported that, at $950 per ounce gold, the proposed open pit Bonanza Ledge Mine showed a pre-tax Internal Rate of Return of 111.8% and a pre-tax cash flow of US$20.5 million. The payback period for the initial capital of US$3.6 million is approximately 0.49 years. The open pit mine is expected to produce an average of 20,000 ounces of gold per year from this location by batch toll milling at the nearby QR Mill. 

Cariboo Gold Project
The Cariboo Gold Project is a proposed open pit mine on Cow Mountain within the Rainbow, Sanders and Pinkerton zones, which are centered on a large knoll on Cow Mountain.

These zones were discovered by the Cariboo Gold Quartz Mining Company, and underground mining was undertaken mainly in the 1930s.  A current resource of 430,885 ounces of gold Indicated and 90,936 ounces Inferred has been identified in accordance with NI 43-101 standards (at a 0.02 oz/t cutoff).  Permitting was initiated in 2000 under the B.C. Environmental Assessment Act and was temporarily suspended when the Bonanza Ledge discovery was made. Permitting was re-initiated in 2005. Exploration drilling is planned for 2010 to identify additional resources and the preliminary open pit mine design will be refined to incorporate the 2008/2009/2010 drill results.  A Notice of Work has been submitted to begin drilling 202 holes above and below the 1200' Level (4300’ elevation) to develop additional ounces the current NI43-101 compliant resource. Historic mining records suggest the grade is continuous with the area having a similar tonnage potential as that above the 1200' Level.  

*Disclaimer - There is no assurance that the Corporation can obtain or that there will not be delays in obtaining, the permits necessary to develop the properties. Government approvals and permits will be required, and may in the future be required, in connection with the Corporation’s operations. To the extent such approvals are required and are delayed or not obtained, the Corporation may be curtailed or prohibited from continuing mining operations or from proceeding with planned exploration or development of the properties.