!!!!!! NEWS OUT !!!!!!!!
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 15, 2013) - Barkerville Gold Mines Ltd. (TSX VENTURE:BGM)(FRANKFURT:IWUB) ("Barkerville" or the "Company") announces that the cease trade order (the "CTO") issued by the British Columbia Securities Commission (the "BCSC") on August 14, 2012 was revoked effective July 15, 2013.
The BCSC issued the CTO as a result of the following:
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On June 28, 2012, Barkerville issued a news release that included first time disclosure of a change in mineral resources at Cow Mountain. The increase in the mineral resources was a material change in the affairs of Barkerville.
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Pursuant to section 4.12(1)(j)(ii) of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), Barkerville was required to file a technical report for the Cariboo Gold Property, supporting the first time disclosure of the change in mineral resources at Cow Mountain.
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On August 13, 2012, Barkerville filed a technical report, dated August 13, 2012, on the Cariboo Gold Property (the "Report"). The Report was not prepared in the required form.
On June 18, 2013, Barkerville filed a technical report, dated December 31, 2012, on the Cariboo Gold Property that was prepared in the required form.
Barkerville is in the process of making application to the TSX Venture Exchange to reinstate for trading its common shares on the TSX Venture Exchange.
In addition, Barkerville announces that it has amended and re-filed its management discussion and analysis (the "MD&A") related to its financial statements for the fiscal year ended February 28, 2013 in response to comments from the BCSC in order to (i) clarify certain technical disclosure in the MD&A, (ii) include the name of the qualified person who supervised the preparation of the technical information in the current technical reports, (iii) describe the forward looking information in the MD&A, and (iv) include a discussion of the factors causing significant changes over the eight rolling quarters covered by the MD&A.
J. Frank Callaghan, President and CEO