Barkerville Gold Mines enters into relationship agreement with Lhtako Dene First Nation

Barkerville Gold Mines Ltd., owns the Cariboo Gold Project, located in the recognized traditional territory of the Lhtako Dene First Nation. — Photo: Terapeak.com

TORONTO, Nov. 17, 2016 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) ("Barkerville" or the "Company") is pleased to announce that it has entered into a Relationship Agreement with Lhtako Dene First Nation committing to an ongoing relationship between the Lhtako Dene First Nation and Barkerville with respect to the Company's exploration and short term mining activities on its Cariboo Gold Project, British Columbia located in the recognized traditional territory of the Lhtako Dene First Nation. The Relationship Agreement establishes the foundation for a positive and mutually beneficial relationship between the Lhtako Dene First Nation and Barkerville by setting out provisions which include training, ongoing communication and opportunities for businesses within the community to participate in the exploration activities and operations at the Bonanza Ledge Project. Lhtako Dene First Nation and Barkerville have agreed to commence negotiating an Impact Benefit Agreement in connection with the planned future production of the larger Cariboo Gold Project. In addition, pursuant to the terms of the Relationship Agreement, Barkerville has agreed, amongst other things, to issue an aggregate of 400,000 common shares of the Company to the Lhtako Dene First Nation.

Chief Clifford Lebrun of the Lhtako Dene Nation commented, "We are pleased that Barkerville is working collaboratively with us to ensure that the Cariboo Gold Project benefits our Nation through economic development opportunities and a strong consultation process. We look forward to working with Barkerville in the spirit of this Relationship Agreement, based on mutual respect and understanding."

Chris Lodder, President and Chief Executive Officer of the Company commented: "We are extremely pleased with the signing of this agreement and the positive relationship we have established with the Lhtako Dene First Nation and we are committed to working in cooperation with the Lhtako Dene First Nation in all phases of development of the Cariboo Gold Project. It is very important that companies working in First Nation traditional territory establish and maintain a mutually beneficial relationship with the impacted communities."

The issuance of the common shares pursuant to the Relationship Agreement are subject to receipt of all necessary approvals, including that of the TSX Venture Exchange and will be subject to a statutory hold period of four months and one day from the date of issuance.

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.

SOURCE Barkerville Gold Mines Ltd.