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Barkerville Provides Update on QR and Bonanza Ledge Mines

Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") wishes to provide a project update and report on the status of its response to the cease trade order (the "CTO") issued by the British Columbia Securities Commission (the "BCSC") as disclosed in the Company's press release dated August 15, 2012.

The Company reminds shareholders that the CTO will remain in place until the Company files a National Instrument 43-101 technical report (the Report or NI 43-101 Report) acceptable to the BCSC and addresses all technical disclosure concerns. The Company's directors and management, geological and engineering consultants, contractors, labs and staff have been working diligently to prepare a comprehensive report and it's nearing completion.

QR Mine and Mill

Mr. Kevin McMurren, Mine Manager reports; Repairs were completed on the crushing circuit and surface ore was milled in December. Weather and maintenance issues resulted in a reduced throughput, but produced encouraging gold recoveries. A new conveyor "Number #4" was installed. Milling and gold production has resumed. Underground mining is scheduled to commence this month to provide additional mill feed. A new mine site access road has been completed for haul trucks coming from Bonanza Ledge. This provides a wider road with increased line of sight and improved grade for safety. The trial grouting of the first hole on the North Dam was completed with BAT Construction, and Klohn Crippen Berger Engineering overseeing.

Bonanza Ledge Mine

Mr. Tom Hatton Mine Superintendent for Wells reports; final clearing of the laydown area for Bonanza Ledge is completed and stump tub grinding for reclamation is ongoing. Mining equipment including excavators, cats, trucks used at QR Mine for the dam raise are being moved to Bonanza Ledge Mine site.

Petition By Rex Harbour.

The petition by Mr. Harbour will be heard on January 23, 2013.

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