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Barkerville Gold Mines Announces Acquisition of Craze Creek Property

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Barkerville Gold Mines Ltd. (BGM.V) announced that it has entered into a letter agreement with Pacific Bay Minerals Ltd. to acquire its 40% interest in certain mineral claims comprising 640.55 hectares in the Cariboo District of British Columbia, namely the Craze Creek Property which lies 20 km southeast and along trend of the Bonanza Ledge Zone, discovered by the company in March 2000.

The company will issue to the vendor an aggregate of 100,000 common shares of the company at a price of $1.53 per share. Following completion of the acquisition, the Craze Creek Property will be subject to an existing 2.5% net smelter return royalty for the original vendors and a 1% net smelter return royalty held in favour of the vendor. Such 1% net smelter return royalty can be purchased by the company for $1 million.

The acquisition will be subject to certain conditions including TSX Venture Exchange approval.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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