TORONTO, Nov. 17, 2016 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) (" Barkerville" or the " Company") is pleased to announce that it has entered into a Relationship Agreement with Lhtako Dene First Nation committing to an ongoing relationship between the Lhtako Dene First Nation and Barkerville with respect to the Company's exploration and short term mining activities on its Cariboo Gold Project, British Columbia located in the recognized traditional territory of the Lhtako Dene First Nation. The Relationship Agreement establishes the foundation for a positive and mutually beneficial relationship between the Lhtako Dene First Nation and Barkerville by setting out provisions which include training, ongoing communication and opportunities for businesses within the community to participate in the exploration activities and operations at the Bonanza Ledge Project. Lhtako Dene First Nation and Barkerville have agreed to commence negotiating an Impact Benefit Agreement in connection with the planned future production of the larger Cariboo Gold Project. In addition, pursuant to the terms of the Relationship Agreement, Barkerville has agreed, amongst other things, to issue an aggregate of 400,000 common shares of the Company to the Lhtako Dene First Nation. Chief Clifford Lebrun of the Lhtako Dene Nation commented, "We are pleased that Barkerville is working collaboratively with us to ensure that the Cariboo Gold Project benefits our Nation through economic development opportunities and a strong consultation process. We look forward to working with Barkerville in the spirit of this Relationship Agreement, based on mutual respect and understanding." Chris Lodder, President and Chief Executive Officer of the Company commented: "We are extremely pleased with the signing of this agreement and the positive relationship we have established with the Lhtako Dene First Nation and we are committed to working in cooperation with the Lhtako Dene First Nation in all phases of development of the Cariboo Gold Project. It is very important that companies working in First Nation traditional territory establish and maintain a mutually beneficial relationship with the impacted communities." The issuance of the common shares pursuant to the Relationship Agreement are subject to receipt of all necessary approvals, including that of the TSX Venture Exchange and will be subject to a statutory hold period of four months and one day from the date of issuance.