Barkerville Gold Mines Announces Brokered and Non-Brokered Private Placements and Debt Settlements

TORONTO, ONTARIO--(Marketwired - June 9, 2015) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM) (the "Company") is pleased to announce that it has entered into an agreement with Primary Capital Inc. (the "Agent") pursuant to which the Agent has agreed to act on behalf of the Company in connection with a proposed "best efforts" private placement offering of up to 9,375,000 flow through units ("Flow Through Units") at a price of $0.32 per Flow Through Unit, for gross proceeds of up $3,000,000 (the "FT Unit Offering"). Each Flow Through Unit will consist of one common share (a "Common Share") of the Company and one-half of one common share purchase warrant (each whole warrant, a "Warrant") with each Warrant entitling the holder thereof to purchase a Common Share at an exercise price of $0.40 for a period of eighteen month following the closing of the FT Unit Offering. Each Common Share and Warrant comprising the FT Units will qualify as a "flow through share" for purposes of the Income Tax Act (Canada). The Common Shares issuable upon exercise of the Warrants will not qualify as "flow-through shares".

The Agent will be paid a cash commission equal to 6% of the gross proceeds of the FT Unit Offering and the Company will also issue broker warrants ("Broker Warrants") exercisable to purchase that number of Common Shares equal to 6% of the aggregate number of Flow Through Units sold pursuant to the FT Unit Offering. Each Broker Warrant entitles the holder to acquire one Common Share at a price of $0.32 for a period of eighteen months from the date of the closing of the FT Unit Offering.

In addition, the Company has entered into an agreement with a strategic investor pursuant to which the Company will issue an aggregate of 6,250,000 flow through common shares ("Flow Through Shares") at a price of $0.32 per Flow Through Share for gross proceeds of $2,000,000 (the "FT Share Offering").

Debt Settlements

The Company also announces that it has entered into a debt settlement agreement with an arm's length creditor, pursuant to which the Company has settled an aggregate of $118,201 of indebtedness of through the issuance of an aggregate of 422,148 Common Shares at a price of $0.28 per Common Share (the "Debt Settlement").