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Barkerville Gold's (TSX.V - BGM) First Diamond Drilling Assay on Barkerville Mountain Hits 2 Intercepts Gold -- Including 12.1 grams per tonne Over 14.1 Meters - Video Summary on Investmentpitch.com


March 29, 2011 -

Vancouver, British Columbia, March 24, 2011 -  Barkerville Gold Mines Ltd. (TSXV:BGM) reports the first assay results of a 42 hole diamond drilling program being conducted on the new discovery zone on Barkerville Mountain 93 meters away from the Company's Bonanza Ledge deposit. The new discovery area although in close proximity to the Bonanza Ledge deposit which sits in the footwall of the BC Vein, is a completely different style of gold mineralization than Bonanza Ledge.

Investmentpitch.com, a multimedia company providing a combined solution for creating, hosting, and distributing video content for public companies, has posted a short video news alert summarizing this news release. Click here to view the video, or if this link is not enabled, please visit www.investmentpitch.com and enter ""Barkerville"" in the search box.

Highlights of News Release

Gold mineralization was hit in two intervals with highlights as follows:

From
(metres)
To
(metres)


Intercept
Gold
(grams per tonne)
24.3 38.4 14.1 12.1
including
29.335.66.325.4
and
45.5 46.4 .91 11.5


President and CEO J. Frank Callaghan states, ""The discovery of gold mineralization on the hanging wall side of the BC Vein and Bonanza Ledge, furthers the opportunity to expand the gold mineralization across several stratigraphic units and styles of mineralization within the same area. Four styles of gold mineralization have now been identified in the camp all within close proximity of each other. Three styles; Bonanza Ledge style, quartz-pyrite stockworks and BC Vein (a large gold-bearing quartz strike vein) have all been identified within the Bonanza Ledge proposed open pit area"".

The new discovery zone is located approximately 93 metres to the local mine grid northwest of the Bonanza Ledge gold deposit. Please see news releases dated respectively on September 20 & 29, and October 4 of 2010, and February 14 of 2011, for more detailed information on the new zone.

The new zone is stratigraphically hosted within the same rock units/sub-units as the Company's Cariboo Gold Quartz Deposit approximately 3 km to the northwest. The host rock of the new zone includes the Rainbow 3 & 4 Sub-units, BC Argillite, and likely the Rainbow 2 & 1 Sub-units to the mine grid north, with the zone is still open to the mine grid northeast.

The major control of the new discovered zone appears to be a large fault system, which may be a secondary level or a branch of the BC Fault Zone that hosts the large, gold-bearing BC Vein. All of the fine-grained pyrite and quartz-pyrite veins and/or stockworks are controlled by the fault system, which consists of first, secondary, third and even more levels of subsidiary faults as well as quartz-pyrite stockworks.

Drilling continues and additional assay results of the diamond drill holes conducted on the new zone will be released as they are received.

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 February 2010 and the Company began pouring doré 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 it to a 2,000-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.

For more information about Barkerville Gold Mines, please visit their website at www.barkervillegold.com, phone 604-669-6463, or email info@barkervillegold.com.

CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: InvestmentPitch via Thomson Reuters ONE

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