Barkerville Gold Mines Ltd. ("Barkerville" or the "Company") wishes to provide and report on the status of its response to the cease trade order (the "CTO") issued by the British Columbia Securities Commission (the "BCSC"), and disclosed in the Company's news 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 acceptable to the BCSC and addresses all technical disclosure concerns.
On March 22, 2013, Barkerville submitted a comprehensive response letter and an updated draft technical report on its Cariboo Gold Project (the "Updated Technical Report Draft") to the BCSC for its review in connection with the CTO. The Updated Technical Report Draft, co-authored by Peter T. George, P. Geo., of Geoex Limited ("Geoex"), Ivor W.O. Jones, FAusIMM(CP), of Snowden Mining Industry Consultants Inc. ("Snowden"), and Michael B. Dufresne, M.Sc., P. Geol, of Apex Geosciences Ltd., is intended to replace the technical report filed by the Company in August 2012, and to address the disclosure issues raised by the BCSC. Snowden and Apex are independent mining and geological consulting firms that have not previously reported on the Cariboo Gold Project.
Snowden assisted Geoex and the Company in their review of the most appropriate estimation method to be applied to the drilling results for Cow Mountain, completed an independent Mineral Resource estimate for the Cow Mountain sector of the Cariboo Gold Project and reviewed QA/QC and data verification employed at Cow Mountain. Snowden also assisted in making recommendations for the Cariboo Gold Project that are included in the Updated Technical Report Draft. Apex assisted Geoex in defining the exploration targets for the Cariboo Gold Project.
On April 4, 2013, the BCSC issued a comment letter to the Company on the Updated Technical Report Draft. The Company, Snowden and Geoex are currently working to address the BCSC's comments and the Company presently expects that it will be filing a response letter and revised technical report for the BCSC to review by mid to end of next week.
J. Frank Callaghan, President and CEO
Source: http://www.barkervillegold.com/