Barkerville Receives $8,529,375 From Warrant Exercise -- All
Warrants From Previous Financing Exercised

J. Frank Callaghan, President and CEO of Barkerville
Gold Mines Ltd. (TSXV:BGM) (the "Company" or "Barkerville") reports
that the Company has now secured a total of $8,529,375 from the
exercise of all warrants attached to a $13,647,000 brokered financing
announced November 20, 2009 which closed in three tranches, December
30, 2009, January 22, 2010, and February 02, 2010 (please see news
releases for these dates for details).  For this financing, the Company
issued in total 17,587,750 common shares and 8,529,375 share purchase
warrants for gross proceeds of $13,647,000.  All warrants including
broker's warrants and all warrants subject to the acceleration clause
as announced July 16, 2011 were exercised.

Proceeds of this additional capital in conjunction with revenue
produced from the ongoing gold production will be used for general
working capital and to continue the Company's current drilling and
development programs aimed at expanding gold resources and production.

About Barkerville Gold Mines Ltd.

Since the mid 1990s the Company has focused on exploration and
development of gold projects in the Cariboo Mining District in central
B.C. The Company's mineral tenures now cover over 1,225 square
kilometers, encompassing seven past producing hard rock mines and three
NI 43-101 gold deposits, including the QR Mine & Mill. The QR Property
was acquired in February 2010 and includes a 900 tonne/day gold milling
facility and a permitted gold mine located approximately 110 kilometers
by highway and all-weather road from the Barkerville Gold Camp. Mining
operations commenced at QR in the first quarter of fiscal 2011 and the
Company began pouring dor� gold in September 2010. In November 2010,
the Company acquired a second permitted mill currently on care and
maintenance in Revelstoke, B.C. for relocation to the Barkerville Gold
Camp near Wells, B.C. and upgrade to a 3,000-tonne/day facility subject
to government approvals. In November 2010 the Company and the Lhtako
Dene First Nation also signed a Project Agreement in relation to its
Bonanza Ledge and Cariboo Gold Projects. The Company has not hedged any
of its future gold production.

On behalf of the Board of Directors,
 
"J. Frank Callaghan"

J. Frank Callaghan
President and CEO

Tel:  (604) 669 -- 6463