Barkerville to Purchase Additional Gold Mill Facility in Central British Columbia

Barkerville Gold Mines Ltd. (TSXV:BGM) announced that it has entered into a Letter of Intent effective September 2, 2010 with International Bethlehem Mining Corporation to purchase Bethlehem Resources (1996) Corporation, a wholly-owned subsidiary of IBC, and its Goldstream Mill facility, tailings pond and related mineral leases and claims.

The press release is quoted as saying:

It is the Company’s intention, subject to approvals, to relocate, refurbish and upgrade the Goldstream mill facility to the base of Cow Mountain, near Wells, BC, where two of Barkerville’s NI43-101 gold resources and proposed open-pit deposits are located in Central British Columbia. Upon relocation, the Company plans to upgrade the mill with an additional ball mill and a carbon-in-pulp circuit, to an increased capacity of 2,000 tonnes per day. The Company’s Bonanza Ledge proposed open-pit mine on the adjacent Barkerville Mountain is currently in the BC Mines Act approval process. The Cariboo Gold Project, encompassing Cow Mountain, is anticipated to re-enter the BC Environmental Assessment Process in the 4th Quarter of 2011.

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